Elastomeric Infusion Pumps Market Expected To Witness Sublimation With A CAGR Of 9% Between 2019-2030

The Elastomeric Infusion Pumps Market is expected to reach US$ 2,100 Million at a CAGR of 9% from 2019 to 2030. Tech-driven innovation is the trend that the healthcare vertical would be resting on in the forecast period. With precision medicine being the focal point, extensive research is being carried out in every arm of the healthcare vertical. The status quo is expected to stay unchanged even in the forecast period.

Elastomeric infusion pumps market have gained significant popularity over the years. Constant innovations and advancement in products, increased awareness about elastomeric infusion pumps for various disease applications, and the availability of funding & support from governments for the R&D of elastomeric infusion pumps are among the most important factors that are estimated to fuel the growth of the elastomeric infusion pumps during the forecast period.

According to the latest research by PMR, the global elastomeric infusion pumps market is estimated to account for approximately US$ 2,100 Million in terms of value by the end of 2030. The elastomeric infusion pumps market report also projects significant growth potential with an estimated average Y-o-Y growth rate of nearly 9% during the forecast period.

Rapid industrialization in emerging economies in the East African belt, Eastern Europe, and Asia Pacific regions is supporting the production and R&D of low-cost web connected medical devices. The availability of a well-developed manufacturing infrastructure, low-cost labour, and trained technicians in countries such as China are also among factors supporting growth of the market.

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Companies Profiles

Baxter International, Inc.
Fresenius Kabi AG
Braun Melsungen AG
Ambu A/S
Leventon, S.A.U.
Nipro Corporation
Terumo Corporation
Avanos Medical, Inc.
User-friendly and Lightweight Features Remain Key Sales Boosters for Elastomeric Infusion Pumps

Elastomeric infusion pumps being lightweight and most economical in nature are witnessing high adoption rates across hospitals and home care settings. Elastomeric infusion pumps are easy to operate and can be controlled by patients and licensed caregivers.

Hospitals are increasingly focusing on improving the levels of safety and comfort of patient, primarily to rate themselves higher on the excellence scale and garner better market shares. For this purpose, they are recruiting highly trained staff in ORs, PACUs, ICUs, etc., who are vigilant about maintaining drug administration protocols.

The growing importance of better pain management as an attribute to measure the sense of wellbeing of a patient has a direct impact on the financial health of a hospital, which is boosting the number of orders for elastomeric infusion pumps.

The extended adoption of elastomeric infusion pumps for the administration of chemotherapy drugs at ambulatory care centres and home care settings under the guidance of licensed caregivers is also likely to fuel the growth of the elastomeric infusion pumps market over the forecast period.

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Reduction in the wastage of chemotherapy drugs when used with properly tested elastomeric infusion pumps is boosting the popularity of the latter among oncology and haematology pharmacists and technicians. Elastomeric infusion pumps also find wide acceptance among patients owing to a significant reduction of treatment costs.

The manufacturers of elastomeric infusion pumps are gradually focusing on bundling associated accessories and IV drugs to increase market penetration. In this regard, reliance on direct sales visits is increasing in economies such as China and India.

Visits by direct sales personnel result in opportunities for the training of staff for the administration of drugs to patients using elastomeric infusion pumps. This creates goodwill on the part of the manufacturer and the probability of repeat orders from end customers.

Attractive pricing and effective margin bargaining strategies are also expected to boost the sales of elastomeric infusion pumps in the future. Increasing demand for post-operative early discharge from hospitals is also expected to propel the demand for wearable disposable ambulatory elastomeric infusion pumps in developed markets.

These elastomeric infusion pumps are primarily used for delivering pain management drugs. Moreover, these services are widely used by elderly individuals who wish to be treated in the comfort of their respective homes/residences.

Marketplace discussions related to elastomeric infusion pumps indicate that portable regional injectable anaesthesia applications exhibit large untapped opportunities for elastomeric pump manufacturers, and this trend is widely observed in the U.S. elastomeric infusion pumps market in ambulatory care centres, dental care units, and cancer care centres.

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Key Manufacturers Focused on Applications in Chemotherapy

Increasing number of manufacturers of elastomeric infusion pumps are positioning their products for an increasing number of applications in addition to post- and pre-operative pain management.

Moreover, companies are marketing elastomeric infusion pumps through sales representative, brochures, case studies, etc. to enable increased product penetration for different application segments such as chemotherapy and chelation therapy.

For instance, Baxter has positioned its elastomeric infusion pumps for chelation therapy & chemotherapy, while Halyard has niche positioned its leading product ON-Q Pain Relief System for postoperative pain management and home pump C-Series for chemotherapy and other protocols.

PMR has segmented the global market for elastomeric infusion pumps on treatment type, distribution channel, product type, and region. By treatment type, the elastomeric infusion pumps market is segmented into antibiotic/antiviral, pain management, chemotherapy, and others.

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This release was published on openPR.