The Elastomeric Infusion Pumps Market To Steal The Growth Show (US$ 2,100 Million) Through Innovation Between 2019 to 2030
The Elastomeric Infusion Pumps Market will be worth US$ 2,100 Million at a CAGR of 9% from 2019 to 2030. With interconnected ecosystems taking the center stage, advancements in technology are bound to bring about a digital alteration in the healthcare vertical. Also, bio-based medications are on the anvil.
Elastomeric infusion pumps market have gained
significant popularity over the years. Constant innovations and advancement in
products, increased awareness about elastomeric infusion pumps for various
disease applications, and the availability of funding & support from
governments for the R&D of elastomeric infusion pumps are among the most
important factors that are estimated to fuel the growth of the elastomeric
infusion pumps during the forecast period.
According to the latest research by PMR, the global
elastomeric infusion pumps market is estimated to account for
approximately US$ 2,100 Million in terms of value by the end
of 2030. The elastomeric infusion pumps market report also projects significant
growth potential with an estimated average Y-o-Y growth rate of nearly 9%
during the forecast period.
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Companies Profiles
·
Baxter International, Inc.
·
Fresenius Kabi AG
·
B. Braun Melsungen AG
·
Ambu A/S
·
Leventon, S.A.U.
·
Nipro Corporation
·
Terumo Corporation
·
Avanos Medical, Inc.
User-friendly and Lightweight Features Remain Key
Sales Boosters for Elastomeric Infusion Pumps
Elastomeric infusion pumps being lightweight and
most economical in nature are witnessing high adoption rates across hospitals
and home care settings. Elastomeric infusion pumps are easy to operate and can
be controlled by patients and licensed caregivers.
Hospitals are increasingly focusing on improving
the levels of safety and comfort of patient, primarily to rate themselves
higher on the excellence scale and garner better market shares. For this
purpose, they are recruiting highly trained staff in ORs, PACUs, ICUs, etc.,
who are vigilant about maintaining drug administration protocols.
The growing importance of better pain management as
an attribute to measure the sense of wellbeing of a patient has a direct impact
on the financial health of a hospital, which is boosting the number of orders
for elastomeric infusion pumps.
The extended adoption of elastomeric infusion pumps
for the administration of chemotherapy drugs at ambulatory care centres and
home care settings under the guidance of licensed caregivers is also likely to
fuel the growth of the elastomeric infusion pumps market over the forecast period.
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Reduction in the wastage of chemotherapy drugs when
used with properly tested elastomeric infusion pumps is boosting the popularity
of the latter among oncology and haematology pharmacists and technicians.
Elastomeric infusion pumps also find wide acceptance among patients owing to a
significant reduction of treatment costs.
The manufacturers of elastomeric infusion pumps are
gradually focusing on bundling associated accessories and IV drugs to increase
market penetration. In this regard, reliance on direct sales visits is
increasing in economies such as China and India.
Visits by direct sales personnel result in
opportunities for the training of staff for the administration of drugs to
patients using elastomeric infusion pumps. This creates goodwill on the part of
the manufacturer and the probability of repeat orders from end customers.
Attractive pricing and effective margin bargaining
strategies are also expected to boost the sales of elastomeric infusion pumps
in the future. Increasing demand for post-operative early discharge from
hospitals is also expected to propel the demand for wearable disposable
ambulatory elastomeric infusion pumps in developed markets.
These elastomeric infusion pumps are primarily used
for delivering pain management drugs. Moreover, these services are widely used
by elderly individuals who wish to be treated in the comfort of their
respective homes/residences.
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Key Manufacturers Focused on Applications in
Chemotherapy
Increasing number of manufacturers of elastomeric
infusion pumps are positioning their products for an increasing number of
applications in addition to post- and pre-operative pain management.
Moreover, companies are marketing elastomeric
infusion pumps through sales representative, brochures, case studies, etc. to
enable increased product penetration for different application segments such as
chemotherapy and chelation therapy.
For instance, Baxter has positioned its elastomeric
infusion pumps for chelation therapy & chemotherapy, while Halyard has
niche positioned its leading product ON-Q Pain Relief System for postoperative
pain management and home pump C-Series for chemotherapy and other protocols.
PMR has segmented the global market for elastomeric
infusion pumps on treatment type, distribution channel, product type, and
region. By treatment type, the elastomeric infusion pumps market is segmented
into antibiotic/antiviral, pain management, chemotherapy, and others.
The others sub-segment of the treatment type
segment is sub-classified into nutrition intake and chelation therapy. By product
type, the elastomeric infusion pumps is divided into variable rate elastomeric
infusion pumps and continuous rate elastomeric infusion pumps.
By distribution channel type, the elastomeric
infusion pumps market is segmented into clinics, ambulatory surgical centres,
hospitals, home care settings, and others. By region, the elastomeric infusion
pumps market is segment into Latin America, Europe, North America, APAC, and
Middle East & Africa.
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