Recent Trends and Developments in the Market
Avanos Medical, a US-based company, recently received approval from the U.S. Food and Drug Administration for its elastomeric infusion pump, known as the ON-Q* elastomeric pump. It delivers local anesthesia to a surgical site continuously and allows the patients to self-administer an extra dose of drug for pain relief, thereby reducing the reliance of patients on opioids after surgery.
Introduction to Elastomeric Infusion Pumps
Elastomeric infusion pumps are single-use and disposable pumps used to infuse equal doses of medication for a certain duration of time. The pressure created by the elastomeric layer of the pump drives the medication through the tube, eventually reaching the patient’s blood stream. These pumps do not require the action of gravity, nor do they require electricity. They provide a consistent and accurate flow through the flow restrictor, which is a glass or steel capillary. Moreover, elastomeric pumps can be either used for a variable span of time, ranging from a few minutes to several days. Since these pumps are portable, they are usually used by patients to provide them with freedom of movement.
Market Size and Forecast
The infusion through elastomeric pump can be intravenous, intra-arterial, epidural or subcutaneous. These pumps make sure that the optimum amount of medication reaches the patient, thereby resulting in better efficacy. The global elastomeric infusion pumps market is anticipated to record a significant CAGR over the forecast period, i.e., 2019-2027. The market is segmented by product, by application, by route of administration, by end user and by region, out of which, the application segment is further segmented into pain management, infection management, chemotherapy and others. Based on application, the pain management segment is anticipated to hold the largest share in the global elastomeric infusion pumps market on account of rising use of medications for pain management including anesthesia. Anesthesia is used as an effective treatment for pain management after operation or surgery. The increasing use of medicines for reducing and managing pain is estimated to substantially result in the market growth during the forecast period.CLICK TO DOWNLOAD SAMPLE REPORT
User-Friendly Nature of Elastomeric Infusion Pumps to Boost the Market Growth
These pumps are small, light-weight and portable, which makes them highly desirable among healthcare service providers as well as patients. Moreover, their beneficial properties including ease of usage and cost effectiveness raises their demand in the market. There are lesser health risks associated with elastomeric infusion pumps as compared with electronic and other types of pumps.
Growing Usage of Elastomeric Infusion Pumps at Hospitals to Drive the Market Growth
The increasing number of surgeries at hospitals on account of growing chronic disorders and accidents is anticipated to be the leading factor resulting in the market growth. According to the National Cancer Institute, the number of new cases of cancer is estimated to rise to 23.6 million in the United States by 2030. This would require effective drug delivery devices during chemotherapy. Additionally, the rising research and development activities result in the increased manufacturing of elastomeric infusion pumps that are suitable for a variety of purposes and are hence being used largely. This is estimated to raise the growth of the market across the globe.
Stringent Government Policies to Hamper the Market Growth
The strict regulatory policies by government in order to ensure safety of the product and minimize deteriorating effects on the health of the patients. This is a major risk which is estimated to result in the decline of growth of elastomeric infusion pumps market during the forecast period.
Our in-depth analysis of the global elastomeric infusion pumps market includes the following segments:
By Route of Administration
By End User
On the basis of regional analysis, the global elastomeric infusion pumps market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The largest share in global elastomeric infusion pumps market is estimated to be held by the market in North America region as a result of high demand for elastomeric pumps in the region. This demand can be attributed to the increasing incidences of chronic health disorders in the region which require surgical operations for treatment. This is leading to the growing demand for user-friendly and convenient products such as the elastomeric infusion pumps. Likewise, the market in Europe is anticipated to hold the second largest share on account of the increasing requirement for elastomeric infusion pumps in the region. However, the market in Asia Pacific region is estimated to witness highest growth rate during the forecast period owing to rising developments in the healthcare infrastructure. Moreover, the growing number of hospitals, rapid industrialization and entrance of key players into the market in the region is further anticipated to result in growth of elastomeric infusion pumps market in this region.
The global elastomeric infusion pumps market is further classified on the basis of region as follows:
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