Baxter’s recall of its Novum pump following a report of one serious injury related to under-infusion risks when the standby feature is used, and it has been determined that this risk increases when being used at higher flow rates. The recall may negatively affect sales in the infusion pump market, says GlobalData.
According to GlobalData, the infusion pump market was worth $1.74 billion in 2024 and is expected to reach $2.2 billion in 2034 with a compound annual growth rate (CAGR) of 2.4 per cent.
Aidan Robertson, Medical Analyst, GlobalData, comments, “Infusion pumps are vital devices to control the delivery of life-saving medications, blood and nutrients, and it is paramount that these mechanisms be dependable to avoid risks. While the damage caused by these devices is relatively small, incidents such as this can influence short-term revenue, as trust in their functionality may falter.”
Baxter currently occupies approximately 27.6 per cent of the infusion pump market and is the largest player in the space, while competitors such as Becton Dickinson, B. Braun and ICU Medical take up 20.2 per cent, 18.4 per cent and 8.7 per cent of the market, respectively.
The global infusion pump market is expected to show significant growth due to an increasing population with health conditions that are chronic in nature, as well as the technical advancements being made in this field, where each step in the treatment process of patients is becoming more automated. Some barriers to this growth may include the trend of elevated at-home use of infusion devices and the increased cost of more sophisticated infusion pump products from these technological advancements.
Robertson concludes, “Although Baxter’s recall presents a short-term setback for revenue, it is unlikely to result in a significant change in Baxter’s position in the infusion pump market. However, as growth in the infusion pump space continues, competitors may use the opportunity to close the gap between their coverage of the market and Baxter’s.”