NEW YORK, March 30, 2022 (GLOBE NEWSWIRE) -- Rising volume of surgical procedures globally as well as increasing need for post-operative analgesics for moderate to severe pain has given rise to augmented demand for elastomeric infusion pumps. The global elastomeric infusion pumps market was valued at US$ 981.5 Mn in 2021, and is set to project a CAGR of to 9% over the forecast period (2022-2030).
Patients displaying the inability to ingest oral analgesics benefit through the adoption of elastomeric infusion pumps, thus supporting the growth of the market, owing to a large rate of intensive care admissions worldwide. Rapid growth as well as rising industrialization activities in emerging economies, including the East African region, territories of Eastern Europe, and Asia Pacific has boosted support for production, research, and development of cost-effective medical devices.
Availability of an established manufacturing setup, low-cost labor, and competent and skilled workers in countries such as China are further providing a push for lucrative growth projections for elastomeric infusion pump manufacturers
Preference toward the adoption and utilization of elastomeric pumps as an alternative to electronic pumps for pain management in hospital and medical settings has gained traction, thus exhibiting a surge to the overall sales value of the global market. Key factors supporting growing adoption of elastomeric infusion pumps include ease of usage, cost effectiveness, discreteness, and lower risk of casualty.
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Furthermore, extensive application of elastomeric infusion pumps in oncological care by providing support during the delivery of drugs for chemotherapy at ambulatory care centers and home care settings is likely to propel market growth over the forecast period. Elastomeric infusion pump producers are also progressively building focus on bundling accompanying accessories and IV drugs to increase their penetration into the global market.
Key Takeaways from Market Study
- By product, continuous rate elastomeric pumps are expected to hold over 68% market value share by the end of 2030.
- Pain management was the leading treatment with more than 1/3 market share in 2021.
- Hospitals dominated the end user segment with a share of around 39.4% in 2021.
- By region, Asia Pacific leads the global market and is estimated to grow 2.1X by 2030.
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“Increasing administration of drugs by IV for faster relief and emergence of alternatives for drug administration are set to propel demand growth of elastomeric infusion pumps,” says an analyst of Persistence Market Research.
Market Competition
Key players such as Avanos Medical & B. Braun Melsungen AG cover a larger share in the market, and seek growth approaches that include the production of novel infusion systems as well as activities of strategic partnerships with other existing players to advance their market scope and penetrate into emerging economies.
- In April 2020, B. Braun Medical Inc. announced US FDA-EUA of its Perfusor® Space Syringe Infusion Pump, Outlook® ES Pump systems, and Infusomat® Space Volumetric Infusion Pump. These pumps are used to treat patients of all ages suffering from COVID-19 by delivering continuous nebulized medications via tracheal route into a nebulizer.
- In April 2019, Avanos Medical acquired FDA clearance for its ON-Q Bolus pump, which is used for pain management in patients post-surgery, without using opioids.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the elastomeric infusion pumps market in its latest study, presenting historical demand assessment of 2012 – 2021 and projections for 2022 – 2030.
The research study is based on product (continuous rate elastomeric pumps and variable rate elastomeric pumps), treatment (pain management, antibiotic/antiviral, chemotherapy, and others), and end user (hospitals, ambulatory surgical centers, home care settings, clinics, and others), across five key regions of the world.
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