Elastomer Infusion Pump Market Is Growing At A CAGR of 4.2% from 2019 to 2026 | Halyard Health, Heka Healthcare

The growth of the elastomer infusion pump market is attributed to increase in demand for elastomeric infusion pumps. Furthermore, user-friendly nature of elastomeric infusion pumps, rise in hospitalization rates, and evolving reimbursement policies across the globe are the other factors that contribute to the growth of the market.

the global elastomer infusion pump industry generated $533.8 million in 2018 and is expected to hit $745.1 million by 2026, registering a CAGR of 4.2% from 2019 to 2026.

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COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

Drivers, restraints, and opportunities

Increase in burden on hospitals to reduce healthcare costs, emergence of novel elastomer infusion pumps, and user-friendly nature of the same fuel the growth of the global elastomer infusion pump market. On the other hand, poor demand in under-developed countries restrains the growth to some extent. However, developments in emerging countries are expected to create a number of opportunities in the industry.

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The continuous red pumps segment to dominate by 2026

Based on product, the continuous red pumps segment accounted for nearly three-fifths of the global elastomer infusion pump market share in 2018, and is expected to rule the roost by the end of 2026. Increase in demand for continuous rate elastomeric pumps, their ability to heal in chronic diseases, rise in adoption of elastomer infusion pump for post-operative pain management, and surge in application in cancer treatment across the globe Simultaneously, the variable rate pumps segment would showcase the fastest CAGR of 4.8% during the study period.

The pain management segment to lead the trail during the study period

Based on application, the pain management segment held the highest share in 2018, garnering one-third of the global elastomer infusion pump market. The fact that it helps maintain analgesia and drugs plasma level stability in order to control acute pain has boosted the growth of the segment. Simultaneously, the chemotherapy segment would cite the fastest CAGR of 5.4% throughout the forecast period. This is because chemotherapy is often used as an adjuvant to other therapeutic modalities such as radiation therapy and surgery.

North America generated the major share in 2018

Based on geography, North America contributed to more than two-fifths of the global elastomer infusion pump market revenue in 2018, and is anticipated to retain its dominance during the estimated period. Rise in demand for elastomer infusion pumps, presence of advanced healthcare facilities with trained medical professionals, and surge in number of R&D centers have propelled the market in this province. The region across Asia-Pacific, on the other hand, would grow at the fastest CAGR of 5.9% by 2026. Increase in prevalence of chronic diseases in various countries in the region, surge in demand for elastomer infusion pump products, rise in number of small and mid-sized hospitals have driven the growth.

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The Major Key Players Are:

B. Braun Melsungen Ag, Baxter International Inc., Halyard Health, Heka Healthcare, Nipro Medical Corporation (Nipro Medical Europe NV), Palex Medical SA, Pfizer Inc. (Hospira Inc.), Pfm Medical Ag, and PROMECON GmbH.

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