Elastomeric infusion pumps are disposable medical used for the administration of liquid drugs such as analgesics, antibiotics, chemotherapy medications, etc. The rise in the adoption of elastomeric pumps is attributed to driving factors such as growth in demand for disposable ambulatory pumps, rising preference for long-term home healthcare, growing hospitalization rates, and evolving reimbursement policies. Elastomeric Infusion Pumps Market is Expected to Grow at 7.0% from 2023-2030.
Elastomeric infusion pumps are disposable medical devices used for the administration of liquid drugs such as analgesics, antibiotics, chemotherapy medications, etc. These devices use energy in an elastic membrane (inside the pump) to provide the force for drug delivery. The rise in the adoption of elastomeric pumps is attributed to driving factors such as growth in demand for disposable ambulatory pumps, rising preference for long-term home healthcare, growing hospitalization rates, and evolving reimbursement policies. Conversely, frequent product recalls due to flawed designs may hold back the desirable growth of the market.
Variable Rate Infusion Pumps are expected to bolster the fastest growth
For the purpose of this study, the global elastomeric infusion pumps market is studied for various segments based on product types, treatment types, usage areas, and geographical distribution. The continuous rate pumps held the largest market, while the variable rate infusion pumps are expected to bolster the fastest growth during the forecast period due to product innovation. In terms of treatment type, the pain management segment held the largest market due to the increasing usage of elastomeric infusion pumps for port operative pain management.
Elastomeric infusion pumps have applications for pain management, infection management, cytostatic treatment, chelation therapy. Major application of infusion pump is for postoperative analgesia for pain management. Thus, pain management occupies the largest share of in application segment of elastomeric infusion market. It is followed by cytostatic treatment since infusion pump therapy proves more effective and well-tolerated in patient.
Ambulatory Care Segment is Expected to exhibit Exponential Growth
The ambulatory care segment is expected to exhibit exponential growth in the usage area segment, while hospitals held the largest share in the elastomeric infusion pumps market due to better reimbursement scenarios and cost structure. In terms of geography, North America dominated the global elastomeric infusion pumps market due to greater acceptance of elastomeric infusion pumps, developed healthcare infrastructure, and well organized reimbursement scenarios. Asia Pacific is expected to grow at the fastest rate during the forecast period to increasing investment and market entry of manufacturers in the region.
Among the considered usage areas, hospitals and clinics currently dominate the global elastomeric infusion pumps market. Higher affordability, greater awareness in hospital staff, and potential of elastomeric infusion pump in reducing manpower and treatment costs in the long run greatly contribute to the dominance of hospitals and clinics in the market. Furthermore, better reimbursement policies and growing preference for home care in order to save treatment costs have led to rapid market growth of home care segment during the forecast period.
Asia Pacific Dominates the Market
In the base 2020, North America was observed as the largest market for elastomeric infusion pumps followed by Europe. In North America and Europe there is an increase in the chronic diseases like gastrointestinal complications, abdominal hernia’s, etc. Asia-Pacific and Middle East and Africa are potential market due to the high prevalence of chronic diseases requiring surgical procedure but less disease awareness.
Prominent Key Players
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Elastomeric Infusion Pumps market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Type
| |
Treatment
| |
Usage Area
| |
|
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report
