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The global elastomeric infusion pumps market size is estimated to grow by USD 800.97 million at a CAGR of 7.07% between 2022 and 2027.
The increasing detection of chronic diseases that require long-term management and medication is boosting demand. These pumps allow for the continuous or intermittent delivery of medication which helps ensure accuracy and control over dosage. Moreover, the ability to allow a slow infusion rate frequently makes it ideal for intravenous therapy. The growing global geriatric population has resulted in a higher prevalence of age-related diseases and conditions. The elderly require these therapies and fluid management for medical compliance to improve their quality of life. They have the advantages of automated and controlled delivery unlike manually administered injections or oral, which helps ensure patient adherence. Hence such advantages will have a positive impact on the market.
It also includes an in-depth analysis of drivers, trends, and challenges.
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Pain management system
The market share growth by the pain management segment will be significant during the forecast period. They have various benefits in providing pain management therapy such as ease of use, portability, and cost-effectiveness compared to conventional. They also help to provide continuous pain relief in the patient's body at a predetermined rate. This helps ensure that a specific level of pain control can be sustained over a period which is beneficial for chronic pain patients.
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The pain management segment was valued at USD 664.06 million in 2017. They are extensively used in pain management for cancer patients in palliative care. The continuous delivery of pain medication allows relative comfort and a greater degree of control of pain symptoms. Additionally, they are easy to use in a variety of healthcare settings such as hospitals, outpatient clinics, and home care due to their portability and user-friendly design. Hence such factors will contribute to the growth of this segment of the market during the forecast period.
Hospitals segment
The hospitals segment was the major end-user segment in the global market in 2022. The increasing number of patients including those who require intravenous, fluids, and nutrition are boosting the demand by hospitals. For the proper and safe administration of these, they are vital as they reduce errors by allowing healthcare professionals to administer drugs at specific rates and volumes. Moreover, options for continual monitoring and adjustment of infusion parameters enhance patient safety and reduce the likelihood of complications. Hence such factors will boost the growth of this segment during the forecast period.
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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America has an exceptional healthcare infrastructure, including hospitals, clinics, and other medical facilities. These institutions heavily rely on these for the precise administration and fluids to patients. These healthcare facilities place high importance on patient safety and for the effective administration, they are vital.
Moreover, the region has a significantly rising geriatric population that is vulnerable to numerous diseases and health conditions such as diabetes, cardiovascular conditions, and cancer. For managing and controlling symptoms associated with these diseases, delivering the necessary is crucial. Moreover, the region has a well-established R&D infrastructure that constantly develops innovative infusion pump technologies, such as those with lightweight sensors. Hence such factors will result in further regional market growth during the forecast period
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Ambu AS - The company offers an elastomeric infusion pump called Action Fuser Pain Pump.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the trends, and challenges.
The high demand for advanced infusion pumps is a key trend in the market. There are frequent releases of advanced technological advances such as barcode scanning systems, and sensors to improve patient safety, medication accuracy, and user convenience. They also allow for further ease of administration of medication by providing precise programming of the infusion rate, dosage limit, and delivery schedule. Enhanced user design and ease of usage make them convenient for healthcare professionals who can adjust medication dosage according to requirements.
Furthermore, they can be integrated with electronic medical records (EMRs) or barcode scanning systems to enhance the accuracy of administration and reduce errors. These pumps also possess a comprehensive drug library with a wide range of medications with pre-programmed safety limits and infusion parameters which enhances patient safety. Hence such factors will contribute to market growth during the forecast period.
Stringent regulatory standards on medical devices are challenging market growth. They fall under the medical devices classification and must adhere to regulations relevant to medical devices in the region of operation. They have specific safety and performance standards they must clear to ensure patient safety. For instance, in the US, the Food and Drug Administration (FDA) is the regulatory body and it includes these under the Federal Food, Drug, and Cosmetic Act (FD and C Act) and the Code of Federal Regulations (CFR) Title 21.
Moreover, these standards typically cover aspects including accuracy of drug delivery, alarms and safety features, electromagnetic compatibility, mechanical and electrical safety, software validation, and usability. Additionally, regulations might differ from region to region, posing a greater challenge for those operating in numerous countries. In the case of non-compliance, a company faces the possibility of penalties, product recalls, loss of market authorization, and damage to the manufacturer's reputation. Hence such factors will pose a hindrance to market growth during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The market in the healthcare industry is witnessing growth, particularly in intensive care units and in managing conditions like osteomyelitis and post-operative pain from cardiac surgeries. Advancements in device technologies have led to the development of elastomeric pumps, offering advantages such as low weight and less interference with sleep. Companies like Ambu Inc and Intalere are providing pain care management solutions with products like the ACTionTM Block Pain Pump.
Despite these advantages, safety issues and high costs are challenges in the market. The market is also influenced by strict regulations, particularly in the chemotherapy segment, where elastomeric pumps are used for delivering drugs like 5-fluorouracil (5-FU) for conditions such as invasive breast cancer, colorectal cancer, and pancreatic cancer. The market's growth is driven by the increasing prevalence of cancer and the shift towards home healthcare and analgesic infusion centers for treatments like immunotherapy and targeted therapy such as FOLFOX, FOLFIRI, and FOLFIRINOX.
Elastomeric Infusion Pumps Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.07% |
Market growth 2023-2027 |
USD 800.97 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.48 |
Regional analysis |
North America, Europe, Asia, and Rest of the World (ROW) |
Performing market contribution |
North America at 44% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ambu AS, Avanos Medical Inc, B.Braun SE, Baxter International Inc., Daiken Medical Co. Ltd., Epic Medical, Fresenius SE and Co. KGaA, Heka srls, Infusystem Holdings Inc., Medline Industries LP, MicroPort Scientific Corp., Mindray Bio medical Electronics Co. Ltd., Nipro Corp., Owens and Minor Inc., pfm medical ag, Promecon, Smiths Group Plc, Vygon SAS, Werfenlife SA, and WooYoung Medical Co. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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