The global elastomeric infusion pumps market is expected to witness significant growth over the forecast period. The market growth is majorly driven by increasing technological advancements and integration of supply chain. The global elastomeric infusion pumps market is estimated to account for US$ 1,595.0 Mn in terms of value by the end of 2027. Increasing preference for evidence-backed systems in treatment and management of several diseases is expected to boost growth of the global elastomeric pumps market. The demand for elastomeric infusions pumps is higher compared to electronic ambulatory pumps and patient-controlled analgesia pumps for pain management. This is attributed to advantages of elastomeric pumps such as ease of usage, low cost, discreteness, fewer issues, and less chances of fatalities. Key players in the market are focused on bundling associated accessories and IV drug to enhance their market share. This has also led to increasing adoption of direct sales channels in emerging regions. Such approach offers opportunities for training of staff for the use of elastomeric pumps in administering drugs to patient. Such scenario is expected to offer lucrative growth opportunities for players in the global elastomeric pumps market. However, the accuracy of drug delivery of elastomeric pumps is low compared to electronic infusion pumps. Moreover, it is challenging to detect abnormal drug delivery as elastomeric pumps have no alarms. These factors are expected to hinder growth of the market. Key Takeaways of the Market: Among product type, continuous flow pumps segment is expected to witness high growth in the market over the forecast period. This is attributed to the ability of continuous flow pumps to offer less errors due to recurrent infusion. Continuous Rate Elastomeric Pumps segment in the global elastomeric infusion pumps market was valued at US$ 515.1 Mn in 2018 and is expected to reach US$ 1,095.1 Mn by 2024 at a CAGR of 8.8% between 2019 and 2027. Major driver attributing to the growth of the segment during the forecast period constitutes of increasing technological advancement for development of new products. Trends The market in Asia Pacific is witnessing significant growth, owing to factors such as easy availability of raw materials, cheap labor, and advanced manufacturing base. The lack of formal reimbursement in home care settings in emerging markets and lack of skilled pharmacists is hindering growth of the overall market. Moreover, lack of skilled pharmacists may lead to risk of antimicrobial secondary infections from infusion site, which may lead to negative revenues 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 Key players in the maket are focused on developing new technology to expand their product portfolio. For inatance, on April 2017, B. Braun launched Easypump home infusion therapy app designed for safe administration of drugs by individuals in home care setting. Major players operating in the global elastomeric infusion pumps market include, B. Braun Melsungen AG, Fresenius Kabi, Leventon, S.A.U, Ambu A/S, Baxter International Inc., Halyard Health, and Nipro Corporation. Segmentation Scope of the report
“*” marked represents similar segmentation in other categories in the respective section.
Joining thousands of companies around the world committed to making the Excellent Business Solutions.