The Global Elastomeric Infusion Pumps Market is estimated to be valued at US$ 387.42 Mn or Million 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.
Elastomeric infusion pumps are medical devices that deliver drugs, nutrients, or other fluids into a patient’s body in controlled amounts. They work via elastic reservoirs and spring tension to deliver medication continuously at a precise programmed rate. Compared to electronic infusion pumps, elastomeric pumps are lighter, smaller, cheaper and can deliver fluids for up to 3 days.
Market key trends:
One of the key trends in the Global Elastomeric Infusion Pumps Market is the growing demand for ambulatory infusion pumps. These are portable lightweight pumps that allow for continuous subcutaneous infusion of medications outside of a healthcare facility. An increasing number of patients require long-term medication delivery at home, driving the demand for ambulatory elastomeric pumps. Their advantages over electronic pumps such as longer battery life and simpler programming make them especially suitable for home care settings. Their compact size and portability also increase treatment accessibility for patients.
Market key trends:
One of the key trends in the Elastomeric Infusion Pumps market is the increasing adoption of portable and wearable infusion pumps. These pumps offer increased mobility and flexibility to patients as they can be worn outside of healthcare facilities. They are being increasingly used for chronic disease management at home. The elastomeric properties of these pumps also ensure accurate and continuous drug delivery at a controlled rate for extended durations.
SWOT Analysis
Strength: Elastomeric infusion pumps are inexpensive, portable and easy to use at home without requiring technical expertise to operate. This increases patient convenience.
Weakness: The drug infusion rate cannot be adjusted or controlled once the pump is filled. This limits their use to applications requiring a fixed flow rate.
Opportunity: Rising geriatric population with chronic diseases, increase in ambulatory surgical centers and home healthcare are driving the demand for home-based infusion therapy. This presents an opportunity to increase the adoption of elastomeric pumps in homecare.
Threats: Technological advancements are enabling smart pumps with customizable drug delivery capabilities. This poses a threat to conventional elastomeric pumps that offer only a fixed rate. Stringent regulatory approval process is also a challenge.
Key Takeaways
The Global Elastomeric Infusion Pumps Market is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing prevalence of chronic diseases globally requiring long-term drug delivery and rise in home healthcare.
The North America region currently dominates the market, accounting for around 40% of global sales due to favorable reimbursement policies and growing preference for home infusion therapy in countries like the US. Asia Pacific is expected to be the fastest growing region supported by expansion of healthcare infrastructure and increasing medical tourism in countries like China, India and Japan.
Key players operating in the Elastomeric Infusion Pumps market are B. Braun Melsungen AG, Fresenius Kabi, Leventon, S.A.U, Ambu A/S, Baxter International Inc., Halyard Health, and Nipro Corporation. These established players are focusing on new product launches and geographical expansion to strengthen their market position. For instance, Baxter launched HomeChoice Claria elastomeric infusion system for intermittent subcutaneous home infusion in 2021.