The global Elastomeric Infusion Pumps Market is estimated to be valued at Us$ 387.42 Mn in 2023 and is expected to exhibit a CAGR Of 9.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Elastomeric infusion pumps provide precise management of fluids and medications in a small, lightweight, disposable platform. They allow for controlled drug delivery for both inpatient and outpatient settings. The pumps offer advantages such as improved workflow efficiency and reduced nursing time.
Market key trends:
One of the key trends in the elastomeric infusion pumps market is the growing adoption of wearable medical devices. Several market players are focusing on developing miniature and lightweight elastomeric pumps that can be easily worn by patients. For instance, large volume pumps are being miniaturized to ensure high accuracy in dosing along with flexible connectivity to bolus buttons or sensors. This allows for continuous monitoring as well as controlled drug delivery from the convenience of home settings.
Segment Analysis
The elastomeric infusion pumps market is segmented by type, application, end user, and region. By type, continuous elastomeric pumps dominate the market and are expected to continue their dominance over the forecast period. Continuous elastomeric pumps offer steady and uniform flow of medications without any fluctuations. By application, chemotherapy dominates the market as cancer treatments majorly rely on continuous infusion of drugs.
Key Takeaways
The Global Elastomeric Infusion Pumps Market Demand is expected to witness high growth, exhibiting a CAGR of 9.2% over the forecast period, due to an increasing prevalence of chronic diseases.
Regional analysis: North America dominates the elastomeric infusion pumps market currently owing to the rising prevalence of chronic diseases and the presence of major players in the region. The Asia Pacific region is expected to exhibit the fastest growth over the forecast period supported by growing healthcare infrastructure and increasing healthcare expenditure in emerging nations.
Key players: Key players operating in the elastomeric infusion pumps market include B. Braun Melsungen AG, Fresenius Kabi, Leventon, S.A.U, Ambu, Baxter International Inc., Halyard Health, and Nipro Corporation. The market is highly competitive with players competing in terms of product innovation, quality, and pricing.
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