by The Global Elastomeric Infusion Pumps Market is estimated to be valued at US$ 387.42 Mn or Million in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Elastomeric Infusion Pumps are compact and portable battery-operated pumps used for infusing medications like antibiotics, analgesics, chemotherapy drugs, IV fluids and nutrition in a continuous, precise, and controlled manner. These pumps offer advantages over traditional gravity-based infusion systems as they can be worn around the body, allow for ambulation, and deliver precise doses of medications over extended periods ranging from days to weeks. They are commonly used for infusion of drugs at home, for pain management, chemotherapy and intermittent self-administered medications.
Market key trends:
One of the key trends in the Elastomeric Infusion Pumps market is the increasing demand for ambulatory infusion pumps. This is mainly attributed to the growing prevalence of chronic diseases that require long-term drug infusion therapies and continuous medications. Ambulatory pumps allow for greater mobility and independence for patients undergoing such treatments at home. Furthermore, advances in material science have enabled development of highly elastic and durable polymers for manufacturing ambulatory pumps with increased functional life. Refinements in battery and microchip technologies have also enhanced the control, accuracy and longevity of new generation elastomeric pumps.
Porter’s Analysis
Threat of new entrants: Low capital requirements and no major intellectual property protection barriers pose a moderate threat of new entrants in the elastomeric infusion pump market.
Bargaining power of buyers: The presence of several manufacturers gives buyers more bargaining power in the elastomeric infusion pumps market.
Bargaining power of suppliers: The proprietary technologies and components used in manufacturing elastomeric infusion pumps gives suppliers significant bargaining power.
Threat of new substitutes: Newer drug delivery technologies like wearable and portable infusion pumps pose a moderate threat of substitution.
Competitive rivalry: The elastomeric infusion pumps market sees moderate to high competition due to the presence of large players globally offering similar products.
Key Takeaways
The Global Elastomeric Infusion Pumps Market is expected to witness high growth, exhibiting a CAGR of 9.2% over the forecast period of 2023 to 2030, due to increasing demand for portable drug delivery devices.
Regional analysis: North America holds the largest share in the elastomeric infusion pumps market, owing to rising prevalence of chronic diseases and technological advancements in drug delivery systems in the region.
Key players: Key players operating in the elastomeric infusion pumps market are B. Braun Melsungen AG, Fresenius Kabi, Leventon, S.A.U, Ambu A/S, Baxter International Inc., Halyard Health, and Nipro Corporation. B. Braun captured over 20% of market share of elastomeric infusion pumps in 2022 due to its wide product portfolio and geographic presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
