U.S. Elastomeric Infusion Pumps Market, by Product Type (Variable Rate Elastomeric Pumps and Continuous Rate Elastomeric Pumps), By Indication ( Oncology, Post-operative Care, General Medicine, and Others), By End User ( Ambulatory Surgical Centers, Clinics, Home Care Settings ( Oncology, Post-operative Care, General Medicine & Others ), Hospitals and Others), is estimated to be valued at US$ 258.3 million in 2021 and is expected to exhibit a CAGR of 5.7 % during the forecast period (2022-2028), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on the development of technologically advanced infusion pumps.
For instance, in May 2018, Nipro Corporation, a medical equipment company, launched New SUREFUSER + PCA SET. This device is used for the continuous infusion of an anesthetic which is controlled by a patient according to the level of pain. It is easy to grab and fit in a palm, with a larger button as the switch for injection of drug solution.
U.S. Elastomeric Infusion Pumps Market - Impact of Coronavirus (Covid-19) Pandemic
The coronavirus (COVID-19) outbreak that started from Wuhan, China has spread across continents, affecting various industries globally. The U.S. was amongst the most affected countries during the early stage of the COVID-19 pandemic. Till date the country has a cumulative count of around 31,742,914 cases since the start of the pandemic.
The increasing number of COVID-19 patients has brought a shift in the healthcare infrastructure. Hospitals & clinics are focusing on delivering medication through infusion pumps, for precise administration of specific amounts of medication. In addition, the healthcare organizations are issuing new guidelines for promoting the use of infusion pumps.
For instance, in May 2020, the U.S. FDA has issued authorization for the use of infusion pumps and associated accessories for treating Covid-19 patients. In addition, the U.S. FDA instructed manufacturing companies to provide instructions and guidelines for cleaning the reusable devices for encouraging their application in home care settings.
Similarly, in April 2020, the U.S. FDA issued policies to expand the remote capabilities and availability of infusion pumps for healthcare professionals during the pandemic. Hence, the COVID-19 pandemic has positive effect on the overall infusion pump market growth.
However, the COVID-19 effect on the elastomeric infusion pump market can be termed moderate. This is owing to the limited studies on the use of elastomeric infusion pumps for treating the coronavirus infected patients hence, the government initiatives are more inclined towards IV infusion pumps and smart pumps.
Browse 10 Market Data Tables and 19 Figures spread through 106 Pages and in-depth TOC on ‘U.S. Elastomeric Infusion Pumps Market, by Product Type (Variable Rate Elastomeric Pumps and Continuous Rate Elastomeric Pumps), By Indication (Oncology, Post-operative Care, General Medicine, and Others), By End User (Ambulatory Surgical Centers, Clinics, Home Care Settings (Oncology, Post-operative Care, General Medicine, & Others), Hospitals, and Others)
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Key players operating in the market are focusing on strategic investments in order to increase their manufacturing capacity and product development capacity, which will help them to increase their market presence.
In 2020, Baxter International Inc., a medical device company, invested around US$ 521 Mn on research and development programs to enhance future growth through clinical differentiation. The investment in research and development (R&D), consistent with portfolio optimization, and capital allocation strategies, helps to fuel the company’s future growth and ability to remain competitive in each of the product categories.
Key Takeaways of the U.S. Elastomeric Infusion Pumps Market:
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