Elastomeric Infusion Pumps Market size is poised to cross USD 4.7 Billion by the end of 2035, growing at a CAGR of 13.8% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of elastomer infusion pumps was over USD 1 Billion.
Increasing Incidence of chronic blood diseases such as leukemia, Thalassemia, and sickle cell disease is primarily contributing to the growth of the market. In a survey conducted, 3000 per 100,000 people with thalassemia. Around 1.5% of people worldwide are beta-thalassemia carriers. Nearly 90% of beta-thalassemia patients reside in a region that stretches from southern Europe to southeast Asia and from Africa to the Middle East.
In addition, chemotherapy and other medicines can be administered via several elastomeric pumps. It mainly refers to the administration of chemotherapy, analgesia, and antibiotics.
Base Year |
2022 |
Forecast Year |
2023-2035 |
CAGR |
~ 13.8% |
Base Year Market Size (2022) |
~ USD 1 Billion |
Forecast Year Market Size (2035) |
~ USD 4.7 Billion |
Regional Scope |
|
Growth Drivers
Challenges
Product (Continuous Rate Elastomeric Pumps, Variable Rate Elastomeric Pumps)
Continuous rate elastomeric pumps segment is expected to dominate the elastomeric infusion pumps market over the forecast period. This is mostly owing to the extra benefits these pumps provide over conventional pumps, such as the ability to maintain a consistent flow of the delivered medications, which results in a constant flow concentration rate. Additionally, these infusion pumps function in any environment that calls for continuous drug infusion therapy, including the home and hospital.
Application (Pain Management, Infection Management, Chemotherapy)
The fastest-growing segment in the elastomeric infusion pumps market is expected to be pain management, accounting for 56% of the market share. Some of the key drivers behind the expansion of this market are the rising incidence of pain-related disorders, and the rise in chronic bone diseases, with more than 200 million people reported to have osteoporosis worldwide. and the high rate of traffic accidents.
Route of Administration (Intravenous, Intra-arterial, Subcutaneous, Epidural, Intramuscular)
The segment anticipated to have the highest revenue share is likely to be the "Intravenous (IV) Infusion Pumps" segment. Intravenous administration is one of the most common and widely used routes for delivering medications and fluids to patients due to its ability to provide rapid and reliable systemic drug delivery. IV infusion pumps are used in various medical settings, including hospitals, clinics, and home care, contributing to their widespread adoption and market dominance.
End- user (Hospitals, Ambulatory Surgical Centres, Clinics, Home Care)
The largest segment of the elastomeric infusion pumps market over the forecast period is expected to be ambulatory surgical centers. The use of Ambulatory Infusion Pumps is used for liquid nutrition and medication administration to patients in the home or hospital setting. Many patients are choosing to use these pumps, as they offer a more stable delivery of nutrients and medicines. Due to an increase in traffic accidents and chronic pain conditions, as per WHO an estimated 1.3 million individuals each year pass away in automobile accidents. These factors together make intravenous infusion pump usage more and more popular in ASC settings.
Our in-depth analysis of the global elastomeric infusion pumps market includes the following segments:
Product |
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Application |
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Route of Administration |
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End- user |
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North American Market Forecast
North America accounting for 44% of the total elastomeric infusion pumps market share. As a result of the large number of hospital stays and growing prevalence of chronic diseases about 133 million Americans, or roughly 45% of the population, have at least one chronic illness. and an increase in the number of surgical operations, accounting for 40 to 50 million surgeries on average.
European Market Statistics
The European elastomeric infusion pumps market is expected to expand at a high CAGR. The adoption of Elastomeric Infusion Pumps in Europe and the expansion of the regional market are supported by the presence of a sizable patient population, and rising healthcare spending as per WHO on an average of 3,734.5K per capita in the European Union. Also growing public awareness of cutting-edge medical devices, and supportive government initiatives, such as reimbursement plans and healthcare reforms. The expansion of the industry in Europe is also aided by the presence of significant pharmaceutical corporations and improvements in the healthcare system.
December ,2022- The Medtronic Extended infusion set, the first and only infusion set that may be worn with Medtronic insulin pumps for up to 7 days, has been licensed by Health Canada, according to Medtronic Canada. It is licensed for subcutaneous insulin infusion in the management of diabetes mellitus.
March ,2023-Immucor, Inc. is fully acquired by Werfen, extending its dominant position in specialized diagnostics. stated in November 2022 that a deal to buy Immucor, Inc. for about USD 2 billion had been achieved.
Author Credits: Radhika Gupta, Shivam Bhutani
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