Elastomeric infusion pumps are an essential medical device used for continuous subcutaneous drug delivery such as antibiotics, analgesics, chemotherapy drugs etc. These pump deliver medication slowly and steadily to patients through pre-filled elastomeric bags. Their small size, portability and compatibility with subcutaneous administration makes them a convenient alternative to traditional intravenous delivery systems.
The global U.S. Elastomeric Infusion Pumps Market is estimated to be valued at US$ 332.46 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the U.S. Elastomeric Infusion Pumps Market is the expansion of product portfolio by market players. Major players are focusing on developing advanced elastomeric pumps with improved features to gain competitive edge. For instance, in 2021, Baxter International Inc. launched the Elastomeric Ambulatory Infusion Pump system, a next generation elastomeric pump designed for continuous subcutaneous insulin infusion. The pump is equipped with reusable drivers and disposable bags which offers 30 days of insulin delivery. Similarly, in 2022, iceteca GmbH launched an advanced elastomeric pump platform - icypump, indicated for subcutaneous administration of drugs. The icypump system combines flexible dosing with mobile connectivity features. Such product innovations are expected to boost the adoption of elastomeric pumps, thereby accelerating the market growth over the forecast period.
Segment Analysis
The U.S. elastomeric infusion pumps market is dominated by large volume segment. These pumps are suitable for administration of large volume fluids like antibiotics, chemotherapy drugs, total parenteral nutrition and analgesics. They offer advantages like precision in delivery of fluids at pre-set, constant flow rates over extended periods ranging from 24 to 72 hours without needing to refill during treatment. This makes them suitable for long term medication delivery leading to their widespread adoption in hospitals and home healthcare sector.
Key Takeaways
The global U.S. Elastomeric Infusion Pumps Market Demand is expected to witness high growth. The global U.S. Elastomeric Infusion Pumps Market is estimated to be valued at US$ 332.46 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2031.
The Western region currently dominates the U.S. elastomeric infusion pumps market owing to advanced healthcare infrastructure and higher adoption of ambulatory elastomeric infusion pumps in home care settings. The region is expected to continue its dominance during the forecast period supported by growing geriatric population, increasing prevalence of chronic diseases and rising healthcare spending.
Key players operating in the U.S. Elastomeric Infusion Pumps market are Mitsubishi Heavy Industri, Becton, Dickinson and Company, Baxter International Inc., Braun Melsungen AG, Smiths Medical, Pfizer Inc., Fresenius Kabi, Medtronic plc, Johnson & Johnson, F. Hoffmann-La Roche Ltd.
Mitsubishi Heavy Industries focuses on expanding its market share through partnerships, acquisition and geographic expansion. Baxter International pursuesorganic as well as inorganic growth strategies to strengthen its market position.
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