Elastomeric infusion pumps are portable, lightweight drug delivery devices used for the administration of medications, antibiotics, analgesics, chemotherapy drugs and other important pharmaceutical products. These pumps operate using compressed elastic chambers that deliver controlled volumes of fluids subcutaneously or intravenously at a predetermined rate. They offer numerous advantages over traditional syringe pumps such as enhanced portability, continuous delivery of fluids for extended periods and reduced risk of external line occlusions. Elastomeric infusion pumps find widespread application across various healthcare settings like hospitals, nursing homes, ambulatory surgical centers and homecare facilities for the delivery of medicines requiring controlled and steady infusion rates.
The global elastomeric infusion pumps market is estimated to be valued at US$ 446.31 billion in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing adoption of elastomeric infusion pumps across a variety of healthcare facilities is expected to remain a key driver of market growth over the forecast period. The report cited above has referred to rising application across healthcare facilities as a major market opportunity. Elastomeric infusion pumps offer distinct advantages over traditional syringe pumps such as enhanced mobility and freedom of movement for patients as well as caretakers. They enable continuous delivery of critical medications over extended periods and also minimize risks associated with external line occlusions. As a result, hospitals, nursing homes and ambulatory surgical centers are increasingly adopting these portable elastomeric pumps for administering controlled fluids to both inpatients and outpatients.
Another major factor propelling the market expansion is the increasing incidence of chronic and life-threatening diseases worldwide requiring long-term medication management. Conditions like cancer, diabetes, cardiovascular disorders and neurological diseases often necessitate continuous IV or subcutaneous drug delivery over the course of treatment and recovery. This presents a large target base for elastomeric infusion pump manufacturers and is supporting the increased uptake of these medical devices across healthcare networks.
Segment Analysis
The elastomeric infusion pumps market is dominated by fixed volume infusion pumps sub segment due to its high compatibility and reliability in constant drug delivery. Fixed volume infusion pumps offer consistent drug delivery, better portability and ease of use as compared to other sub segments like ambulatory and syringe pumps.
PEST Analysis
Political: Stable regulatory environment and supportive government policies for health and medical devices across regions is positively impacting the market growth.
Economic: Rising healthcare expenditure, increasing access to advanced medical facilities and growing aging population driving the demand for continuous drug delivery devices like elastomeric pumps.
Social: Increasing prevalence of chronic diseases like cancer, diabetes requiring continuous drug delivery is fueling the market growth.
Technological: Advancements in material sciences and manufacturing technologies leading to development of innovative, compact and precise elastomeric pumps with automated features.
Key Takeaways
The global elastomeric infusion pumps market share is expected to witness high growth over the forecast period of 2024 to 2031. The global elastomeric infusion pumps market is estimated to be valued at US$ 446.31 billion in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024-2031.
Regional analysis:
North America region currently dominates the elastomeric infusion pumps market owing to factors such as advanced healthcare facilities, rising healthcare spending and growing chronic diseases. Within North America, United States holds the major market share due to well established medical devices industry and supportive regulatory environment for new product approvals.
Key players:
Key players operating in the elastomeric infusion pumps market are Sika AG, BASF SE, Fosroc International Limited, Saint-Gobain Weber, The Euclid Chemical Company, Dayton Superior Corporation, WR Meadows, Specified Technologies Inc, TCC Materials and EMSEAL Joint Systems Ltd. Companies are focusing on new product launches and geographic expansion to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
