Global Elastomeric Infusion Pumps Market

Elastomeric Infusion Pumps Market Size, Share, Growth Analysis, By Product(Continuous Rate Elastomeric Infusion Pumps, Variable Rate Elastomeric Infusion Pumps), By Application(Pain Management, Chemotherapy, Antibiotic/Antiviral Therapy, Others), By End-user(Hospitals, Ambulatory Surgical Centers, Others), By Region - Industry Forecast 2025-2032


Report ID: SQMIG35A2679 | Region: Global | Published Date: October, 2024
Pages: 157 | Tables: 89 | Figures: 76

Elastomeric Infusion Pumps Market Dynamics

Elastomeric Infusion Pumps Market Drivers 

Growing Chronic Illness Prevalence 

  • The increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases is the greatest driver for elastomeric infusion pumps. These pumps ensure definite and controlled medication administration to manage chronic diseases. As the patient population requiring continuous therapy grows, elastomeric pumps are turning out to be essential tools for achieving the timely administration of drugs and for enhancing the quality of care. 

Rising Demand for Home Healthcare 

  • More and more elastomeric infusion pumps and other portable, easy-to-use medical equipment are becoming popular since more people prefer to get treatment at home. These pumps allow patients to have more flexible therapy options that are easier to administer anywhere except in a hospital setting. There is also a growing usage of elastomeric infusion pumps to provide drugs, due to the increased demand for home healthcare and its savings. 

Elastomeric Infusion Pumps Market Restraints  

High Cost of Devices 

  • The costliness of the elastomeric infusion pumps is the major constraint to spreading them throughout the market, especially for patients who do not have adequate insurance. The reasons are that these pumps and the accessories that go along with them can be costly. Low-income individuals cannot therefore afford them. In developing countries, the problem is even more daunting because of limited health resources. The cost factor is going to be a challenge to market penetration and will lower the total market growth. 

Complexity of Training and Use 

  • Although infusion pumps made of elastomeric materials are quite versatile, patients and healthcare providers alike need adequate education to use them appropriately. Poor pharmaceutical delivery or control could lead to severe health issues. This critical educational need is a barrier to adoption, especially within home care, where patients may not have access to continuous professional guidance. However, the fact that patients and healthcare providers need to be adequately educated remains a barrier to general adoption.

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Global Elastomeric Infusion Pumps Market size was valued at USD 638 million in 2022 and is poised to grow from USD 684.57 million in 2023 to USD 1202.87 million by 2031, growing at a CAGR of 7.30% during the forecast period (2024-2031).

Key competitors in the highly competitive elastomeric infusion pump market are Terumo Corporation, Smiths Medical, and Baxter International. These businesses focus on product diversification, technology upgrades, and expanding distribution networks to have an edge in the race. Companies are also investing in alliances and teamwork to raise their market share in developing countries and to cater to the ever-increasing demand for home healthcare solutions. 'Baxter (US) ', 'Fresenius Kabi AG (Germany) ', 'B. Braun SE (Germany) ', 'Ambu A/S (Denmark) ', 'NIPRO (Japan) ', 'Terumo Corporation (Japan) ', 'AVNS (US) ', 'Vygon Group (France) ', 'Smiths Group plc (UK) ', 'ICU Medical, Inc. (US) ', 'Pajunk GmbH (Germany) ', 'Woo Young Medical Co., Ltd. (South Korea) ', 'Sapphire Medical (Israel) ', 'Ace Medical Co., Ltd. (South Korea) ', 'Eitan Medical (Israel) ', 'Zyno Medical (US) ', 'Epic Medical (Singapore) ', 'Nipro Corporation (Japan) ', 'Daiken Medical Co., Ltd. (Japan) ', 'Coopdech (Japan) ', 'Westmed, Inc. (US) ', 'Flowonix Medical Inc. (US)'

Hybridizing Digital Health Solutions: There is a growing usage of elastomeric infusion pumps hyphenated with digital health solutions, encompassing such hybrid solutions as telemedicine platforms and smartphone apps. These hybrid solutions enhance the accuracy and efficiency of therapy through real-time monitoring and adjustment of infusions rates. Furthermore, remote monitoring increases patient safety by allowing medical professionals to monitor the infusion process and take rapid action if needed. Due to this trend, elastomeric pumps are becoming increasingly popular and increasingly applied in home care settings. 

Factors driving the expansion of the elastomeric infusion pumps market in North America include an increased need for infusion pumps, especially elastomeric infusion pumps, which would arise from increased incidence of chronic diseases, such as diabetes, cancer, and cardiovascular diseases. There is further a growing demand for more portable and easier-to-use infusion systems as home healthcare services are increasing. Technological advancements in elastomeric pumps for the improvement in the comfort and accuracy of drug administration are expanding the market. Reimbursement policies in favor and a strong healthcare infrastructure are bolstering the growth for this market. In addition, with the aging population in North America, there is an increased demand for infusion pumps for managing chronic diseases. 

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Global Elastomeric Infusion Pumps Market

Report ID: SQMIG35A2679

$5,300
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