Elastomeric Pump - Market Insights, Competitive Landscape, and Market Forecast - 2030

Elastomeric Pumps Market By Product Type (Continuous Rate Elastomeric Infusion Pumps, Variable-Rate Elastomeric Infusion Pumps, Both), By Channel Type (Single Channel, Dual Channel), By End-User (Hospitals And Clinics, Ambulatory Surgical Centers, Others), by geography is expected to grow at a steady CAGR forecast till 2030 owing to wide application areas and affordability of elastomeric pumps

Global Elastomeric Pumps Market was valued at USD 523 Million in 2023, growing at a CAGR of 6.54% during the forecast period from 2024 to 2030 to reach USD 765 Million by 2030. The increase in demand for Elastomeric Pumps is primarily attributed to the wide application areas of elastomeric pumps, simplicity in product design compared to other types of infusion pumps, affordability of elastomeric pumps across the world are anticipated to bolster the market, thereby contributing to the growth of the Elastomeric Pumps market during the forecast period from 2024-2030.

Elastomeric Pumps Market Dynamics:

The Elastomeric Pumps market is witnessing a growth in product demand owing to various reasons. The increasing use of elastomeric pumps in various applications is anticipated to bolster the market for elastomeric pumps during the forecasted period.

An elastomeric pump is a medical device that is used for the infusion of medication. Depending on the therapy that is required by the patient, the medications comprise antibiotics, chemotherapy, 5FU, cytostatic, analgesics, and local anesthetics.

The elastomeric pumps are continuously been preferred for the administration of chemotherapeutic drugs at ambulatory surgical centers and home care settings. This also increased reduction in the wastage of chemotherapeutic drugs when being used after properly tested elastomeric pumps.

Elastomeric pumps are widely used by oncology and hematology pharmacists and technicians. The devices are also preferred by patients widely owing to a considerable reduction of their treatment costs.

Elastomeric pumps had found their use in various areas of application comprising of both pre and post-operative pain management. In the early days after post-operative surgeries, there is a daily assessment upon the aspect of pain severity and complications of treatment, in order to adjust the analgesic medications, thereby increasing the need for such medical devices that can adjust medication doses.

Thus, due to the increasing utilization of elastomeric pumps in various areas of application, there will be a rising demand for elastomeric pumps, in turn increasing the elastomeric pumps market growth.

However, problems in the accurate rate of drug delivery and failure in the detection of an abnormal rate of drug delivery may be certain limiting factors of the Elastomeric Pumps market growth.

The ongoing Coronavirus disease 2019 (COVID-19) pandemic has slightly impacted the market for elastomeric pumps as hospital admissions for patients suffering from cancers and other disorders were not a priority in comparison to the patients suffering from Coronavirus. Furthermore, elective surgeries were temporarily stopped during the pandemic. However, with masses being vaccinated, the Elastomeric Pumps market has picked momentum.

Elastomeric Pumps Market Segment Analysis:

Elastomeric Pumps Market By Product Type (Continuous Rate Elastomeric Infusion Pumps, Variable Rate Elastomeric Infusion Pumps, Both), By Channel Type (Single Channel, Dual Channel), By End-User (Hospitals and Clinics, Ambulatory Surgical Centers, Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the Product Type segment of the Elastomeric Pumps market, the Continuous Rate Elastomeric Infusion Pumps are estimated to hold a higher share in the Elastomeric Pumps market during the forecast period (2024-2030). This can be ascribed to the various advantages that are associated with these devices.

The demand for continuous rate elastomeric infusion pumps is expected to increase during the forecasted period. This is owing to the rising technological advancements of elastomeric pumps.

For instance, elastomeric pumps are preferred in usage for offering outpatient antibiotic therapy, as these devices do not require any external tubing.

Elastomeric pumps also comprise technological advancements that enable longer storage and stability specifications as these devices can be readily refrigerated and frozen.

Thus, owing to the technological advancements in the area of continuous rate elastomeric infusion pumps, there will be an increase in the demand for continuous rate elastomeric infusion pumps, which in turn will drive the Elastomeric Pumps market growth.

North America is expected to dominate the overall Elastomeric Pumps Market:

Among all the regions, North America is expected to account for the largest share in the global Elastomeric Pumps market. Growing incidence of chronic diseases such as cancer, and cardiovascular diseases will increase the demand for elastomeric pumps in North America for administering drugs to patients in the United States, leading to a rise in the overall elastomeric pumps market growth.

For instance, as per the National Cancer Institute 2020, an estimated number of 1,806,590 new cases were diagnosed in the United States and about 606,520 patients will die from the disease.

Also, as per the American Cancer Society, 2020, an estimated number of 1.8 million new cancer cases were diagnosed in the United States.

Also, as per the Centers for Disease Control and Prevention, in the year 2018, 1,708,921 new cases were reported in the United States. As per the same source, for every 100,000 people, 436 new cancer cases were documented and about 149 patients were affected with cancer.

Furthermore, as per the Centers for Disease Control and Prevention, in 2022, about 659,000 people in the United States were affected with heart disorders every year.

Thus, all the above-mentioned factors are anticipated to propel the market for Elastomeric Pumps in the United States.

Elastomeric Pumps Market Key Players:

Some of the key market players operating in the Elastomeric Pumps market include B.Braun Melsungen AG, Nipro Corporation, HEKA s.r.l., Surgika, Baxter, Daiken Medical Co., Ltd, I-Flow Corp., Gamastech Innovative Infusion Systems, Samtronic Industria e Comercio LTDA, Vikymed Italia s.r.l, PAJUNK, Wolf Medical Supply, Ace Medical Co. Ltd., Leventon, S.A.U., Smiths Medical, Assut Europe, Bexen medical, MULTIMEDICAL S.r.l., Ambu Inc., Canox MD. Srl, among others.

Recent Developmental Activities in the Elastomeric Pumps Market:

In March 2022, Fresenius Kabi announced its 510(k) regulatory clearance from the U.S. Food and Drug Administration (FDA) for its wireless Agilia® Connect Infusion System which includes the Agilia® Volumetric Pump and the Agilia® Syringe Pump with Vigilant® Software Suite-Vigilant® Master Med technology.

Key Takeaways from the Elastomeric Pumps Market Report Study

• Market size analysis for current Elastomeric Pumps market size (2023), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Elastomeric Pumps market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the global Elastomeric Pumps market.
• Various opportunities available for the other competitor in the Elastomeric Pumps market space.
• What are the top performing segments in 2023? How these segments will perform in 2030.
• Which is the top-performing regions and countries in the current Elastomeric Pumps market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Elastomeric Pumps market growth in the coming future?

Target Audience who can be benefited from this Elastomeric Pumps Market Report Study

• Elastomeric Pumps products providers
• Research organizations and consulting companies
• Elastomeric Pumps-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Elastomeric Pumps
• Various End-users who want to know more about the Elastomeric Pumps market and latest technological developments in the Elastomeric Pumps market.

Frequently Asked Questions for Elastomeric Pumps Market:

1. What are Elastomeric Pumps?

An elastomeric pump is a medical device that is used for the infusion of medication. Depending on the therapy that is required by the patient, the medications comprise antibiotics, chemotherapy, 5FU, cytostatic, analgesics, and local anesthetics.

2. What is the market for Global Elastomeric Pumps?

Global Elastomeric Pumps Market was valued at USD 523 Million in 2023, growing at a CAGR of 6.54% during the forecast period from 2024 to 2030 to reach USD 765 Million by 2030.

3. What are the drivers for the Global Elastomeric Pumps Market?

The Elastomeric Pumps market is witnessing a positive market growth owing to the wide application areas of elastomeric pumps, simplicity in product design compared to other types of infusion pumps, affordability of elastomeric pumps across the world are anticipated to bolster the market.

4. Who are the key players operating in the Global Elastomeric Pumps Market?

Some of the key market players operating in the Elastomeric Pumps market include B.Braun Melsungen AG, Nipro Corporation, HEKA s.r.l., Surgika, Baxter, Daiken Medical Co., Ltd, I-Flow Corp., Gamastech Innovative Infusion Systems, Samtronic Industria e Comercio LTDA, Vikymed Italia s.r.l, PAJUNK, Wolf Medical Supply, Ace Medical Co. Ltd., Leventon, S.A.U., Smiths Medical, Assut Europe, Bexen medical, MULTIMEDICAL S.r.l., Ambu Inc., Canox MD. Srl and others.

5. Which region has the highest share in Elastomeric Pumps Market?

North America is expected to hold the highest share in the revenue in the Elastomeric Pumps market during the forecast period. Growing incidence of chronic diseases such as cancer, and cardiovascular diseases will increase the demand for elastomeric pumps in North America for administering drugs to patients in the United States, leading to a rise in the overall elastomeric pumps market growth in this region.