Elastomeric Infusion Pumps Market Generated Opportunities, Future Scope 2021-2028 | B. Braun Melsungen AG, Fresenius Kabi, Leventon, S.A.U, Ambu A/S

Global Elastomeric Infusion Pumps Market

Drivers

Over the forecast period, the global elastomeric infusion pumps market is expected to rise significantly. Rising technology advances and supply chain convergence are driving business growth. By the end of 2027, the global elastomeric infusion pumps market is expected to be worth US$ 1,595.0 million.

The global elastomeric pumps market is projected to expand in response to rising demand for evidence-based systems in the treatment and control of a variety of diseases. Elastomeric infusion pumps have a greater market for pain relief than mechanical ambulatory pumps and patient-controlled analgesia pumps. This is due to elastomeric pumps' benefits, which include ease of use, low cost, discreteness, fewer problems, and a lower risk of fatalities.

To increase their market share, major players in the market are bundling related accessories and IV drugs. This has resulted in a rise in the use of direct distribution platforms in developing markets. As a result of this technique, workers will be trained to use elastomeric pumps to deliver medications to patients. Players in the global elastomeric pumps market could foresee attractive growth prospects as a result of this scenario. Elastomeric pumps, on the other hand, have a lower accuracy of drug distribution than mechanical infusion pumps.

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Restraints

Furthermore, since elastomeric pumps do not have sensors, it is difficult to detect irregular drug distribution. These trends are likely to stifle growth of the global elastomeric infusion pumps market.

Key Takeaways

The continuous flow pumps segment, among product types, is expected to develop rapidly in the market over the forecast period. This is due to continuous flow pumps' capacity to have fewer errors due to recurrent infusion.

The global elastomeric infusion pumps market's Continuous Rate Elastomeric Pumps segment was worth US$ 515.1 million in 2018 and is forecast to hit US$ 1,095.1 million by 2024, with a CAGR of 8.8% between 2019 and 2027. Growing technical innovation for the introduction of new goods is a major factor contributing to the segment's growth during the forecast period.

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Regional Insights

Due to factors such as easy availability of raw materials, low labor costs, and an advanced manufacturing base, the Asia Pacific market is experiencing substantial growth. The overall market's growth is being hampered by a lack of structured reimbursement in home care settings in developing markets, as well as a shortage of professional pharmacists. Furthermore, a scarcity of qualified pharmacists may increase the risk of antimicrobial secondary infections at the infusion site, resulting in lower sales in the global elastomeric infusion pumps market.

Regulations

The U.S. FDA classifies infusion pumps as class II and a few class II category devices are exempt from premarket notification by the agency. Market players are required to get clearance from the U.S. FDA for launching their products in the U.S. market. Moreover, changes in materials, design, performance, or other features of the device requires 510 (K) clearance.

Competitive Analysis

The sector's major players are concentrating their efforts on creating advanced technologies in order to broaden their product offerings. In April 2017, B. Braun released the Easypump home infusion therapy software, which is intended for individuals in home care settings to safely administer medications.

Key companies contributing in the global elastomeric infusion pumps market are S.A.U, Leventon, B. Braun Melsungen AG, Halyard Health, Nipro Corporation, Fresenius Kabi, Baxter International Inc., and Ambu A/S.

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