The Global Elastomeric Infusion Pumps Market is estimated to be valued at US$ 387.42 Mn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Elastomeric infusion pumps are small compact portable infusion devices used for administration of drugs and fluids in the ambulatory setting. They have advantage of continuous delivery of drugs at a precise programmed rate. These pumps are used for administration of antibiotics, chemotherapy drugs, nutrition and analgesics.
Market key trends:
One of the key trends in the elastomeric infusion pumps market is increasing adoption of home healthcare. The demand for home healthcare is growing owing to rising healthcare costs and growing prevalence of chronic diseases. Home healthcare provides patients comfort of receiving treatment at home and elastomeric infusion pumps allow for continuous intravenous drug delivery outside of hospitals. This is expected to drive the growth of elastomeric infusion pumps market over the forecast period.
Segment Analysis
The global elastomeric infusion pumps market is segmented on the basis of product and end use. Based on product, the market is segmented into variable rate Elastomeric Pumps and continuous rate Elastomeric Pumps. Among these, the continuous rate Elastomeric Pumps segment dominated the market in 2022 due to its ability to deliver medications at a consistent predetermined flow rate for a specified period of time.
Key Takeaways
The Global Elastomeric Infusion Pumps Market is expected to witness high growth, exhibiting a CAGR of 9.2% over the forecast period, due to increasing prevalence of chronic diseases and rising geriatric population.
Regional Analysis
North America dominated the global elastomeric infusion pumps market in 2022 and is expected to continue its dominance over the forecast period. This is attributed to the rising prevalence of chronic diseases and technological advancements in the region. Asia Pacific is expected to exhibit the highest growth over the forecast period due to growing medical tourism industry and increasing healthcare expenditure.
Key Players
Key players operating in the elastomeric infusion pumps market are B. Braun Melsungen AG, Fresenius Kabi, Leventon, S.A.U, Ambu A/S, Baxter International Inc., Halyard Health, and Nipro Corporation. B. Braun Melsungen AG dominated the market in 2022 due to its diversified product portfolio and wide geographical presence.
Comments
0 comment