Elastomeric Infusion Pump Market

Elastomeric Infusion Pump Market Size (2023 to 2028)

The global elastomeric infusion pumps market is predicted to grow at a CAGR of 8.88% from 2023 to 2028 and be worth USD 1.87 billion by 2028 from USD 1.22 billion in 2023.

An elastomeric pump, also known as a balloon pump or ball pump, is a medical device used for infusing medication. The elastomeric infusion pump is a medical device that provides a regulated and uninterrupted administration of medication or fluids to a patient for a predetermined duration. The product comprises an elastomeric reservoir containing medication or fluid, a delivery mechanism, and a flow regulator. The reservoir's flexible elastomeric material gradually contracts, applying pressure on the contents to ensure a steady flow rate. The market for elastomeric infusion pumps is thriving, with widespread usage in home healthcare, ambulatory care, and post-operative care. These pumps offer a portable and convenient option for medication administration.

Impact of COVID-19 on the elastomeric infusion pump market:

The COVID-19 pandemic has favoured the accelerated the growth of the elastomeric infusion pumps market. The growing number of COVID-19 cases and related hospitalizations has fuelled the demand for elastomeric infusion pumps. These pumps are essential for delivering drugs safely in intensive care units. The elastomeric infusion pumps are the preferred choice to deliver continuous subcutaneous infusions (CSCIs) in palliative care, surpassing the effectiveness of syringe drivers. The growing usage of elastomeric infusion pumps in the intensive care units due to its viability as an alternative for administering medications to COVID-19 patients and avoiding contamination has further fuelled the growth rate of the elastomeric infusion pumps market. Likewise, the market has experienced a favourable impact from the COVID-19 pandemic.

MARKET DRIVERS:

The rising incidence of chronic diseases such as cancer, diabetes and cardiovascular disorders is a key factor propelling the growth of the elastomeric infusion pump market. The demand for continuous medication or fluid administration has led to the emergence of elastomeric infusion pumps as a reliable and convenient solution for delivering controlled dosages. The rising demand for effective and efficient drug delivery systems owing to the rising global burden of chronic diseases and the growing aging population further boost the growth rate of the elastomeric infusion pump market. The advantages provided by elastomeric infusion pumps over traditional infusion systems continue to be a significant driving force. The elastomeric pumps are a highly convenient option for their portability, lightweight build and lack of external power sources or complex programming requirements. The product's mobility and convenience features make it a prime choice for ambulatory and home care settings, meeting the needs of patients who prioritize ease of use while maintaining treatment effectiveness. Additionally, the implementation of elastomeric pumps in the healthcare industry has resulted in a decrease in the necessity for manual adjustments or recalibrations. This has led to a reduction in the likelihood of human errors and an improvement in patient safety.

The heightened adoption by healthcare professionals and patients contributes to market growth. The growing demand for cost-effective drug delivery systems has been driven by the focus on cost containment and reduction of healthcare expenditure. The elastomeric infusion pump market presents a cost-effective solution compared to electronic pumps and disposable syringe systems. The reusable nature of these pumps and their low maintenance requirements make them an attractive option for consumers. Additionally, the absence of expensive electronic components further adds to their appeal. Elastomeric pumps are increasingly becoming a preferred choice for healthcare providers operating in resource-limited settings or those aiming to optimize their budgets, owing to their cost-effectiveness. The market has experienced significant expansion due to the cost-saving potential of elastomeric infusion pumps. Healthcare facilities are increasingly acknowledging the financial benefits of these pumps.

MARKET RESTRAINTS:

Stringent regulatory requirements and approval processes for elastomeric infusion pumps, limited awareness and understanding of elastomeric infusion pumps among healthcare professionals and patients and concerns about the safety and reliability of elastomeric infusion pumps primarily hinder the market growth. The availability of alternative drug delivery methods, such as electronic infusion pumps or oral medications, cost constraints and reimbursement limitations for elastomeric infusion pumps and challenges in ensuring accurate dosing and infusion rates with elastomeric pumps inhibit the growth rate of the elastomeric infusion pump market. Supply chain disruptions or shortages of key components required for elastomeric infusion pumps, limited customization options and versatility of elastomeric infusion pumps compared to electronic pumps, Inadequate training and education among healthcare professionals on the proper use and management of elastomeric infusion pumps and the lack of standardized guidelines or protocols for the use of elastomeric infusion pumps further limit the growth rate of the elastomeric infusion pumps market.

REPORT COVERAGE:

This research report on the global elastomeric infusion pump market has been segmented and sub-segmented based on the product type, application, end-user & region.

Elastomeric Infusion Pump Market - By Product Type:

• Continuous Rate
• Variable Rate

Based on product type, the continuous rate segment is estimated to hold the major share of the global market during the forecast period. The consistent and controlled drug delivery mechanism drive the growth of the continuous rate segment in the global market. The growing increasing prevalence of chronic diseases and the need for continuous medication delivery in various healthcare settings propel the growth of the continuous rate segment.

The variable rate segment is anticipated to account for a notable share of the worldwide market during the forecast period. The advantages that variate elastomeric infusion pumps offers in terms of customization and adaptability to different treatment regimens primarily drive the segmental growth.

Elastomeric Infusion Pump Market - By Application:

• Pain Management
• Chemotherapy
• Chelation Therapy
• Others

Based on the application, the pain management segment is expected to witness the highest CAGR in the global market during the forecast period owing to the rising incidence of pain-related disorders, increasing patient population suffering from chronic bone disorders and growing incidence of road accidents. The growing demand for effective and convenient pain relief methods, increasing geriatric population and age-related chronic conditions, rising number of advancements in pain management therapies and technologies and improving patient awareness and education regarding pain management options further contribute to the growth rate of the pain management segment.

The chemotherapy segment is predicted to account for a considerable share of the global market during the forecast period. The growing cancer patient population worldwide, rising demand for efficient drug delivery systems in chemotherapy, increasing number of advancements in cancer treatments and targeted therapies drive the growth of the chemotherapy segment in the global market. Rapid adoption of outpatient cancer care and growing need for continuous and controlled drug administration during chemotherapy further fuel the growth rate of the chemotherapy segment in the global market.

Elastomeric Infusion Pump Market - By End User:

• Hospitals
• Ambulatory Surgical Centers
• Others

Based on end-user, the hospital segment is anticipated to account for the major share of the global market during the forecast period. The growing number of patient admissions, increasing number of surgeries in hospitals, increasing number of advancements in healthcare infrastructure and facilities and rising demand for efficient drug delivery systems in hospital settings primarily drive the growth of the hospital segment. The growing prevalence of chronic diseases requiring continuous medication and the presence of favorable reimbursement policies for hospital-based treatments contribute to the growth rate of the hospital segment.

The ambulatory surgical centers (ASCs) segment is expected to witness a healthy CAGR during the forecast period owing to factors such as the shift towards outpatient and minimally invasive procedures, growing number of ambulatory surgical centers globally and rising preference for cost-effective and convenient treatment options.

Elastomeric Infusion Pump Market - By Region:

• North America
• Europe
• APAC
• Latin America
• Middle East and Africa

The elastomeric infusion pumps market is currently dominated by North America and is projected to maintain its lead during the forecast period. The rising prevalence of chronic diseases and an increasing volume of surgical interventions primarily drive the growth of the North American market. The availability of well-established healthcare infrastructure, high healthcare expenditure, and favorable reimbursement policies in North America further boost the North American market growth. The growing aging population, increasing demand for efficient drug delivery systems, technological advancements and the presence of key market players in the North American region fuel the growth rate of the North American market. The U.S. had the major share of the North American market in 2022, followed by Canada and the same pattern is anticipated to repeat throughout the forecast period.

The European market held the second largest share of the worldwide market in 2022 and is predicted to grow at a healthy CAGR during the forecast period. The presence of large patient population, increasing healthcare expenditure, growing awareness about advanced medical devices, favorable government initiatives, such as reimbursement schemes and healthcare reforms support the adoption of Elastomeric Infusion Pumps in Europe and drive the regional market growth. The presence of major pharmaceutical companies and advancements in healthcare infrastructure further contribute to market growth in Europe.

The Asia Pacific market is expected to witness the highest CAGR among all the regions in the global market during the forecast period. The growing prevalence of chronic diseases, improving healthcare infrastructure, increasing healthcare spending in countries like China and India drive the elastomeric infusion pumps market in the Asia-Pacific region. The presence of large population, technological advancements and the presence of emerging economies with a growing focus on healthcare provide lucrative opportunities for market growth in APAC.

Latin America is expected to capture a considerable share of the worldwide market during the forecast period. Factors such as improving healthcare infrastructure, increasing healthcare expenditure and a rising prevalence of chronic diseases drive the growth of the Latin American market. The growing population especially in countries like Brazil and Mexico, increasing number of initiatives from Latin American governments to enhance healthcare facilities and improve access to healthcare services further fuel the growth rate of the Latin American market.

MEA is estimated to hold a moderate share of the global market during the forecast period.

KEY MARKET PLAYERS:

Baxter International, Inc., B. Braun Melsungen, PFM Medical, Gamastech SRL, Halyard Health, Inc. Nipro Corporation and Woo Young Medical Co are some of the major players in the global elastomeric infusion pump market.

RECENT HAPPENINGS IN THE MARKET:

• In March 2022, China's National Medical Products Administration (NMPA) permitted Shanghai MicroPort Lifesciences Co., Ltd. to sell its new AutoEx Chemotherapy Infusion Pump (AutoEx), which it had made on its own.
• In February 2021, Mindray Medical released three new injection systems called BeneFusion. This was done to add more products to its line.
• In April 2021, Medtronic released in certain European countries the world's first and only injection set that can be used for up to seven days. This set makes sure that the insulin from the pump gets into the body. All MiniMed 600 and 700 series insulin pumps can use this new set.