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 Insights

Elastomeric Infusion Pumps Market size was valued at USD 684.57 Million in 2023 and is poised to grow from USD 734.54 Million in 2024 to USD 1290.68 Million by 2032, growing at a CAGR of 7.30% during the forecast period (2025-2032).

The elastomeric infusion pumps market growth is considerably driven by the growing incidence of chronic diseases, including diabetes, cardiovascular diseases, and cancer. According to the World Health Organization (WHO), chronic diseases are responsible for 71% of all deaths, accounting for the number one cause of death in the world. To ensure that these diseases are appropriately treated and handled, more continuous medication delivery devices such as elastomeric pumps were thus sought after. One of the primary drivers for the elastomeric infusion pumps industry is the increasing requirement for home healthcare solutions. The mobility and ease of use of elastomeric pumps cater to the requirements of patients who prefer to take their prescriptions from the comfort of their homes. Increasing demand for long-term care for chronic illness among the aging population is responsible for this trend. To further boost market growth, manufacturers also focus on innovations in elastomeric infusion pump technology. Some of these innovations include increased accuracy, extended infusion time, developing pumps with better functionalities, and aesthetics. These innovations aim to meet the different needs of patients and health care professionals by improving the efficacy of elastomeric infusion pumps and making them more reliable and secure. For instance, using the pressure produced by an elastomeric balloon, infusion pumps that are made of elastomers could safely and accurately provide continuous infusions of analgesics, chemotherapy, and cardiology therapies without a source of power.

US Elastomeric Infusion Pumps Market is poised to grow at a sustainable CAGR for the next forecast year.

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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
BUY NOW GET FREE SAMPLE