Elastomeric Infusion Pumps Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The global elastomeric infusion pumps market reported revenue of US$981 million in 2023. With a steady projected growth rate of 9.9% CAGR, the market is expected to reach a valuation of over US$1900 Million by the end of 2031.
Key Opportunities for Elastomeric Infusion Pump Manufacturers:• Government Initiatives and Safety: Initiatives by regulatory bodies and organizations to enhance the safety of elastomeric infusion pumps will drive market growth. For example, the U.S. Food and Drug Administration (FDA) has launched initiatives to improve infusion pump safety, leading to additional requirements for manufacturers. These initiatives foster the development of safer and more effective infusion pumps, boosting demand in the healthcare and medical device industries.
• Innovations and Digital Platforms: Manufacturers are focusing on product advancements and innovations, including digital platforms, to increase market penetration. Introducing features like error prevention and drug volume assessment enhances patient safety and creates goodwill, driving product adoption.
• Medical Tourism in Asia: The rise of medical tourism in Asia, driven by cost-effectiveness, quality medical care, and excellent infrastructure, presents significant opportunities for elastomeric infusion pump sales in the region.
Challenges in the Elastomeric Infusion Pumps Market:• Inaccurate Delivery and Alternatives: Inaccurate flow rates and the availability of alternative infusion pumps pose challenges to elastomeric infusion pump adoption. Studies have shown variations in pump performance based on factors like temperature and drug viscosity, leading to disrupted treatment schedules.
• Product Recalls and Errors: Elastomeric infusion pumps are among the most frequently recalled medical devices due to design deficiencies and product errors. These errors may include alarm malfunctions, software problems, and inadequate user interface design, which can hinder market growth.
Country-wise Insights:• United States: The U.S. elastomeric infusion pumps market is thriving due to the increasing number of cancer patients requiring chemotherapy and analgesics. The country's advanced healthcare facilities and high-quality research contribute to the demand for elastomeric pumps.
• Germany: Germany leads the elastomeric infusion pumps market in Europe, driven by its advanced healthcare facilities and research capabilities.
• China: China holds a significant share in the Asia Pacific elastomeric infusion pumps market, with growing demand, particularly during the COVID-19 pandemic. China's investments in research and development further support market growth.
Competitive Landscape:Key players in the elastomeric infusion pumps market are expanding their presence through collaborations and acquisitions. Research and development investments focus on compliance with safety regulations and product advancements.
Key Companies Profiled in the Market:
• Baxter International, Inc.
• Fresenius Kabi AG
• B. Braun Melsungen AG
• Ambu A/S
• Leventon, S.A.U.
• Nipro Corporation
• Terumo Corporation
• Avanos Medical, Inc.
Key Segments Covered in Elastomeric Infusion Pumps Industry Research
Elastomeric Infusion Pumps Market by Product:
• Continuous Rate Elastomeric Pumps
• Variable Rate Elastomeric Pumps
Elastomeric Infusion Pumps Market by Treatment:
• Pain Management
• Antibiotic/Antiviral
• Chemotherapy
• Others
Elastomeric Infusion Pumps Market by End User:
• Hospitals
• Ambulatory Surgical Centers
• Home Care Settings
• Clinics
• Others
Elastomeric Infusion Pumps Market by Region:
• North America Elastomeric Infusion Pumps Market
• Latin America Elastomeric Infusion Pumps Market
• Europe Elastomeric Infusion Pumps Market
• East Asia Elastomeric Infusion Pumps Market
• South Asia Elastomeric Infusion Pumps Market
• Oceania Elastomeric Infusion Pumps Market
• Middle East and Africa (MEA) Elastomeric Infusion Pumps Market
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