by Elastomeric infusion pumps are medical devices used for continuous subcutaneous administration of critical medications such as chemotherapy drugs, analgesics, antibiotics, and other drugs. These pumps are portable and offer accurate and consistent medication delivery with flexible infusion options.
The global Elastomeric Infusion Pumps Market is estimated to be valued at US$ 446.31 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Ambulatory infusion pumps are witnessing increasing adoption as they allow for continuous drug administration and are ideal for outpatient settings. Elastomeric infusion pumps offer advantages such as portability and convenient home-based care over mechanical infusion pumps. The rising prevalence of chronic diseases requiring long term treatment and increasing preference for home healthcare are expected to drive the demand for ambulatory infusion pumps, thereby propelling the growth of the elastomeric infusion pumps market over the forecast period. Advancements in pump technology have improved usability and enhanced precision of medication delivery. However, factors such as risk of medication errors and pump malfunctions pose challenges to market growth.
SWOT Analysis
Strength: Elastomeric infusion pumps provide a continuous subcutaneous delivery of medications without the need for battery or electricity. These are lightweight, portable devices that offer convenience to the patients.
Weakness: The medication capacity is limited based on the reservoir size. These infusion pumps are not capable of delivering large volumes of medication compared to traditional electronic ambulatory infusion pumps.
Opportunity: Rising prevalence of chronic diseases such as cancer and diabetes is driving the demand for infusion therapy devices. Elastomeric pumps offer an affordable alternative to electronic pumps expanding the market scope.
Threats: Stringent regulatory approvals and recalls associated with pump failures pose challenges to new entrants. Technological advancements in electronic ambulatory infusion devices offer enhanced features threatening the growth of elastomeric pumps.
Key Takeaways
The global elastomeric infusion pumps market demand is expected to witness high growth. The global Elastomeric Infusion Pumps Market is estimated to be valued at US$ 446.31 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.
Regional analysis comprises
The North America region currently dominates the elastomeric infusion pumps market owing to the rising incidence of chronic diseases and presence of established healthcare infrastructure and reimbursement policies supporting the adoption of infusion devices.
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.
Key players are focusing on new product launches and strategic collaborations to expand their market share. For instance, Sika AG offers Sikaflex elastomeric sealants used for expansion joint sealing applications in the construction industry
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
