SEATTLE, June 14, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the U.S. elastomeric infusion pumps market is estimated to be valued at US$ 258.3 million in 2021 and is expected to exhibit a CAGR of 5.7 % during the forecast period (2022-2028).
Key Trends and Analysis of the U.S. Elastomeric Infusion Pumps Market:
The increasing incidence of chronic diseases such as cancer, cardiovascular diseases, and others is expected to increase the demand for elastomeric infusion pumps for administering drugs to the patients which is expected to drive the growth of the U.S. elastomeric infusion pumps market over the forecast period. According to the National Cancer Institute Report, in 2020, an estimated 1,806,590 new cases of cancer were diagnosed in the U.S. and 606,520 people died from the cancer.
An increasing number of organ transplantation surgeries is expected to drive the segment growth during the forecast period. According to the report published by United Network for Organ Sharing (UNOS), which serves as the national Organ Procurement and Transplantation Network (OPTN) under federal contract in January 2019, around 36,527 organ transplants were performed in the U.S. in 2018
Furthermore, according to 2018 annual report of the U.S Renal Data System (USRDS), around 750,000 patients per year in the U.S. are affected by kidney failure, which is also called end-stage renal disease (ESRD). Thus, the high incidence of chronic diseases is expected to increase the demand for elastomeric infusion pumps, which, in turn, is expected to drive the growth of the U.S. elastomeric infusion pumps market over the forecast period.
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Key Market Takeaways:
The U.S. elastomeric infusion pumps market is expected to exhibit a CAGR of 5.7 % during the forecast period, owing to key players focus on strategies such as mergers and acquisitions to strengthen their product presence. For Instance, in February 2017, ICU Medical Inc., a California-based developer of medical technologies, acquired Hospira Infusion Systems (HIS) business from Pfizer Inc., a pharmaceutical company, . The acquisition of Pfizer’s product portfolio such as IV pumps, solutions, and devices complemented ICU Medical Inc.’s existing business.
Competitive Landscape:
Key players operating in the U.S. elastomeric infusion pumps market include B. Braun Melsungen AG, Baxter International Inc., Werfen, Ambu A/S, Avanos Medical Inc., NIPRO, and Progressive Medical, Inc.
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Market Segmentation:
- U.S. Elastomeric Infusion Pumps Market, By Product Type :
- Variable Rate Elastomeric Pumps
- Continuous Rate Elastomeric Pumps
- U.S. Elastomeric Infusion Pumps Market, By Indication :
- Oncology
- Post-operative Care
- General Medicine
- Others
- U.S. Elastomeric Infusion Pumps Market, By End User :
- Ambulatory Surgical Centers
- Clinics
- Home Care Settings
- Oncology
- Post-operative Care
- General Medicine
- Others
- Hospitals
- Others
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.