DUBLIN--(BUSINESS WIRE)--The "Elastomer Infusion Pump Market by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
The global elastomer infusion pump market was valued at $534 million in 2018, and is estimated to reach at $745 million by 2026, registering a CAGR of 4.2% from 2019 to 2026.
Elastomeric infusion pumps are non-electric, disposable pumps that deliver fluids such as antibiotics, analgesics, and chemotherapy drugs, in a patient's body in controlled amount. The elastomeric infusion pump consist of elastomeric layer which provide required pressure for administrating the drug. These pumps provide advanced benefits over conventional infusion pump in features such as portability, feasibility, and less scope for human errors. In addition, these pumps do not require electricity and action of gravity. Moreover, it can be used for a variable period ranging from few minutes to several days. There are two types of elastomer infusion pumps that include continuous rate pumps, and variable rate pumps.
Rise in demand for small disposable elastomer infusion pump, due to its long term home care rehabilitation program, surge in prevalence of chronic diseases, growth in availability of elastomer infusion pumps, technological development of novel elastomeric infusion pumps are the key factors that fuel the growth of the elastomer infusion pump market. In addition, post-operative pain in surgeries such as total hip replacement and total knee replacement is usually treated by infusion of analgesics through elastomer infusion pumps. Therefore, significant increase in number of orthopedic procedures & surgeries is expected to drive the growth of the market.
For instance, according to American Academy of Orthopedic Surgeons Annual report in 2018, approximately 1 million patients and over 1.4 million hip & knee arthroplasty procedures & surgeries were registered into the American Joint Replacement Registry. Moreover, elastomer infusion pumps have fewer adverse effects as compared to electronic pumps and are less costly, which fuels their adoption in ambulatory chemotherapy and analgesic infusion centers. Furthermore, elastomer infusion pumps are available in small size, light weight, disposable, and eliminate programming errors. Such advantages of elastomer infusion pumps over conventional electric infusion pump are expected to drive the growth of the market. However, low income and lack of proper medical attention in developing countries hamper the growth of the elastomer infusion pump market.
The global elastomer infusion pump market is segmented into product, application, and end user. By product, the market is categorized into continuous rate pumps, and variable rate pumps. The applications covered in the study include pain management, infection management, chemotherapy, and others. Based on end user, the market is bifurcated into hospitals and clinics, ambulatory care, and home care. Based on region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa and rest of LAMEA).
Key Findings of the Study
- Depending on product, the continuous rate pumps segment held 57.22% share in the global market in 2018.
- On the basis of application, the pain management segment held the largest elastomer infusion pump market share in 2018 and is expected to remain dominant throughout the forecast period.
- According to end user, the home care segment exhibits fastest growth and is expected to grow at a CAGR of 5.3% from 2019 to 2026.
- Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 5.9% during the forecast period.
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In 2018, North America accounted for the major share in the elastomer infusion pump market, and is expected to continue this trend during the forecast period, owing to availability of well-developed infrastructure, higher number of R&D activities with large presence of key players, rise in demand for elastomers infusion pumps, surge in prevalence of chronic diseases, and an increase in non-government & government initiatives to promote healthcare. However, Asia-Pacific is expected to register the highest growth in the future owing to improvement in healthcare infrastructure, and technological advancements in the field of healthcare, and the developing R&D sector.
Market Dynamics
Drivers
- Rise In Burden On Hospitals To Reduce Healthcare Costs
- Development of Novel Elastomer Infusion Pumps
- User-Friendly Nature of Elastomer Infusion Pumps
Restraint
- Poor Demand In Under Developed Countries
Opportunities
- Growth Opportunities In Emerging Markets
Companies Mentioned
- B Braun Melsungen Ag
- Baxter International Inc.
- Halyard Health
- Heka Healthcare
- Nipro Medical Corporation (Nipro Medical Europe NV)
- Palex Medical SA
- Pfizer Inc. (Hospira Inc.)
- Pfm Medical Ag
- PROMECON GmbH.
For more information about this report visit https://www.researchandmarkets.com/r/syhst7
