by The U.S. Elastomeric Infusion Pumps market consists of drug delivery devices used to deliver medications slowly and continuously. These pumps offer advantages like controlled and predictable drug delivery along with reduced risk of medication errors. Their use has increased in chronic pain management and chemotherapy.
The global U.S. Elastomeric Infusion Pumps Market is estimated to be valued at US$ 332.46 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The market has witnessed steady growth due to increasing prevalence of chronic diseases like cancer and diabetes that require long term medication. Moreover, rising geriatric population prone to such conditions also contributes to the demand. As elastomeric pumps offer consistent drug delivery for chronic pain, their adoption has increased in homecare settings and palliative care. This trend is expected to continue during the forecast period thus driving the market growth.
SWOT Analysis
Strength: Elastomeric infusion pumps are portable, affordable, and easy to use, helping to provide patients continuity of care.
Weakness: They have fixed, non-adjustable flow rates which may limit their suitability for certain complex medication regimens. Accuracy can also be impacted by temperature fluctuations.
Opportunity: An aging population and increasing incidence of chronic diseases are driving demand for home healthcare solutions. The U.S. market provides opportunities for sustained growth.
Threats: Technological advancements are leading to new products like patch pumps with more programmable and precise settings. Stringent regulatory standards also pose compliance challenges.
Key Takeaways
The U.S. Elastomeric Infusion Pumps Market Demand is expected to witness high growth over the forecast period driven by rising demand for ambulatory and home healthcare solutions. The global U.S. Elastomeric Infusion Pumps Market is estimated to be valued at US$ 332.46 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2031.
Regional analysis: The Western region accounted for the largest share of over 35% in 2021 led by states like California and Florida with large elderly populations. It is expected to continue expanding at a notable CAGR through 2031 supported by significant healthcare spending and demand for portable infusion devices.
Key players: Key players operating in the U.S. elastomeric infusion pumps market are Mitsubishi Heavy Industri, Baxter International, Nipro, Braun Melsungen, Treu Instrumente, Medtronic MiniMed, Smiths Medical ASD, Fresenius Kabi, and Terumo. These companies cater to the growing needs of clinics, hospitals as well as home healthcare setups with a range of products featuring patented material compounds, prolonged usability, and intuitive designs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
