Market Research Report
Elastomeric Infusion Pumps Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Elastomeric Infusion Pumps Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 115 Pages
Delivery time: 2-3 business days
Elastomeric infusion system market is primarily driven by an increase in adoption, growing demand for small disposable infusion pumps, and its wide range of application in various fluid drug delivery systems. In addition, increase in number of surgeries as a result of an increased rate of hospitalization that ultimately increases the demand for elastomeric pumps for postoperative pain management conditions. Elastomeric infusion pump system offers several advantages over electronic pumps including portability, feasible demonstration, low weight, size, ease of use, and less interference with sleep. The difficulties in the detection of delivery rate accuracy and abnormal drug delivery are restraining factors for the growth of the market.
However, market players are actively focusing on innovation working towards the increasing adoption of elastomeric infusion devices by advancing technologies. For instance, in April 2017, B. Braun Medical Inc. launched "esaypump home infusion therapy app", offers educational content to clinicians and patients on safe usage of B. Braun Medical's easypump elastomeric infusion pump. Moreover, increasing R&D costs and frequent product recalls, mostly due to design flaws, are expected to hamper the elastomeric infusion system market.
* Continous rate elastomeric infusion pumps are used for infusion of parenteral over the several hours at a single flow rate.
* The growing adoption of the continuous rate elastomeric infusion pumps and widening applications of the same are anticipated to fuel the market growth.
* Moreover, key players in the market are also focused on launching servicing tools and expanding their geographic footprints for infusion pumps in order to leverage the opportunities in emerging markets. For instance, in February 2020, LTC Medical entered into a collaborative agreement with Woo Young Medical, to expand the distribution of their new generation of elastomeric infusion technologies in Australia region.
* The continuous elastomeric pumps are helpful for the maintenance of the therapeutic level of drugs during the treatment and ideally used in many chemotherapy infusions. The rising prevalence of cancer worldwide anticipated to fuel market growth over the forecast period.
* North America is the largest in terms of value in elastomeric infusion system market followed by Europe. North America accounts highest market share due to increased prevalence of e gastrointestinal complications, abdominal hernia and increased number of surgeries.
* Furthermore, the market is driven by increased patient awareness, growing prevalence of chronic diseases and increasing number of surgeries performed in the region and need to control escalating healthcare costs, elastomeric infusion pumps market in the region has been experiencing significant growth.
* According to the Journal of Infectious Disease Adviser, approximately 27 million surgical procedures are performed in the United States each year.
* Similarly, According to the American Academy of Orthopedic Surgeons 2018 report, about 1.4 million hip and knee arthroplasty procedures are performed in the United States. This is likely to positively impact market growth in the North America region.
The market is moderately fragmented and competitive. The market players are focusing on new product launches, collaboration and innovations to expand their market share. For instance, in February 2020, LTR Medical has entered an exclusive distribution agreement with Woo Young Medical to distribute their new generation of elastomeric infusion technologies into the Australian market. The companies operating in elastomeric infusion systems market are Baxter International, B. Braun Melsungen AG, Avanos Medical, Inc., Nipro Corporation and Leventon S.A.U among others.