Fort Collins, Colorado, April 10, 2024 (GLOBE NEWSWIRE) --
Growing Prevalence of Chronic Diseases to Induce the Need for Elastomeric Infusion Pumps
The increasing prevalence of chronic diseases, including cancer, diabetes, and cardiovascular disorders, serves as a significant driver for the elastomeric infusion pump market. According to the World Health Organization (WHO), chronic diseases account for approximately 71% of all deaths globally. Similarly, projections from the International Diabetes Federation indicate that the number of adults with diabetes is anticipated to rise to 643 million by 2030, underscoring the growing demand for consistent medication delivery solutions.
Furthermore, the aging population worldwide is exacerbating the prevalence of chronic diseases, as older individuals are more susceptible to these conditions. In response to the need for long-term therapies, elastomeric pumps offer a reliable and convenient solution. These pumps facilitate continuous and controlled medication delivery, effectively managing patients' chronic conditions over extended periods. Thus, the elastomeric infusion pump market is positioned to meet the escalating demand for effective treatment options in the face of rising chronic disease burdens.
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Segmentation Overview:
The elastomeric infusion pump market has been segmented into type, treatment, end-user, and region.
Pain Management Accounted for a Significant Market Share in 2023.
- Pain management was the largest sub-segment in 2023 based on the market segmentation by treatment. The high prevalence of chronic pain conditions, coupled with the increasing demand for patient-controlled analgesia (PCA), has driven the growth of this segment. Elastomeric infusion pumps offer an effective and convenient solution for managing pain in both acute and chronic settings, enabling patients to self-administer medication as needed.
Continuous Rate Elastomeric Pump Segment Attributed for a Leading Position in 2023.
- The continuous rate elastomeric pump segment held the largest market share in 2023 based on market segmentation by type. This dominance can be attributed to their ease of use and suitability for a broader range of applications, particularly in pain management and antibiotic delivery following surgeries, which are high-volume procedures.
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Elastomeric Infusion Pump Market Report Highlights:
- The elastomeric infusion pump market growth is anticipated at a CAGR of 4.6% by 2032.
- The healthcare industry is witnessing a significant shift towards ambulatory and home care settings, driving the adoption of elastomeric infusion pumps.
- Asia-Pacific is expected to exhibit high growth in the Elastomeric Infusion Pump market during the forecast period owing to the rapidly improving healthcare infrastructure, increasing healthcare expenditure, and a large patient population in countries like China and India.
- Some prominent players in the elastomeric infusion pump market report include B. Braun Melsungen AG, Fresenius Kabi AG, Baxter International Inc., Halyard Health, Nipro Corporation, Smiths Medical, Fresenius Kabi, Pfizer, Ivac Medical, Inc., Woo Young Medical, Dickinson and Company (BD), Terumo Corporation, APP Pharmaceuticals, LLC, Medtronic plc.
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