Elastomeric Infusion Pumps Market is Estimated to Witness High Growth Owing To Trends of Rising Adoption of Ambulatory Infusion Pumps

The elastomeric infusion pumps market is estimated to be valued at US$ 387.42 Mn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Elastomeric infusion pumps are medical devices used to administer medications, such as antibiotics, analgesics, chemotherapy drugs, and other drugs, into a patient’s body in a precise, controlled manner. These pumps are lightweight, portable devices that deliver medications continuously through an intravenous administration route. The key advantages of elastomeric infusion pumps include precise and adjustable drug delivery, ambulatory capabilities, and minimal programming requirements.

Market key trends:
One of the key trends driving the growth of the elastomeric infusion pumps market is the rising adoption of ambulatory infusion pumps. Ambulatory infusion pumps are portable elastomeric infusion pumps that allow patients to move around freely during drug delivery. These ambulatory pumps are steadily replacing traditional intravenous infusion methods that require patients to stay connected to bulky equipment in hospitals or clinical settings. As a result of growing preference for home healthcare solutions and ambulatory treatment methods, wearable ambulatory elastomeric infusion pumps are increasing being utilized for administering medications outside of healthcare facilities. The increased patient mobility and comfort offered by ambulatory pumps is supporting their rising popularity in outpatient settings and propelling the overall demand for elastomeric infusion pumps.

Porter’s Analysis

Threat of new entrants: Low capital requirements and established brand loyalty reduces threat of new entrants in the Elastomeric Infusion Pumps Market.

Bargaining power of buyers: Large customer base increases buyers bargaining power compelling suppliers to offer competitive pricing.

Bargaining power of suppliers: Established suppliers and proprietary product differentiation limits buyers power over suppliers in the Elastomeric Infusion Pumps Market.

Threat of new substitutes: Limited substitutes due to specialized clinical usage maintains market for Elastomeric Infusion Pumps.

Competitive rivalry: Intense competition amid major players characterize the Elastomeric Infusion Pumps Market.

SWOT Analysis

Strength: Non-electronic design ensures high reliability and prevents medication errors.
Economies of scale allow established players to invest in product development.

Weakness: Storage limitations and inability to support complex drug delivery patterns.
Higher costs than electronic pumps limits adoption in cost-sensitive settings.

Opportunity: Growing prevalence of chronic diseases drives demand for infusion therapy worldwide.
Expanding healthcare infrastructure in developing regions presents new customers.

Threats: Stringent regulatory approvals and certification delays market entry of new products.
Rising share of technologically advanced electronic pumps poses substitution threat.

Key Takeaways

The Global Elastomeric Infusion Pumps Market is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing prevalence of chronic diseases. North America dominated the market in 2023 with highest revenue share owing to well established healthcare infrastructure and rising disease burden in the US and Canada.

Regional analysis Asia Pacific is poised to experience fastest growth rate over the forecast period driven by increasing healthcare spending, large patient pool, and expanding medical tourism industry in countries like India and China.

Key players operating in the Elastomeric Infusion Pumps market are B. Braun Melsungen AG, Fresenius Kabi, Leventon, S.A.U, Ambu A/S, Baxter International Inc., Halyard Health, and Nipro Corporation. The major players are focused on new product launches and strategic collaborations to strengthen their market position.

Read More – https://www.pressreleasebulletin.com/the-growing-use-of-elastomeric-infusion-pumps-in-ambulatory-care-is-anticipated-to-openup-the-new-avanue-for-elastomeric-infusion-pumps-market/

The elastomeric infusion pumps market is estimated to be valued at US$ 387.42 Mn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Elastomeric infusion pumps are medical devices used to administer medications, such as antibiotics, analgesics, chemotherapy drugs, and other drugs, into a patient’s body in a precise, controlled manner. These pumps are lightweight, portable devices that deliver medications continuously through an intravenous administration route. The key advantages of elastomeric infusion pumps include precise and adjustable drug delivery, ambulatory capabilities, and minimal programming requirements.

Market key trends:
One of the key trends driving the growth of the elastomeric infusion pumps market is the rising adoption of ambulatory infusion pumps. Ambulatory infusion pumps are portable elastomeric infusion pumps that allow patients to move around freely during drug delivery. These ambulatory pumps are steadily replacing traditional intravenous infusion methods that require patients to stay connected to bulky equipment in hospitals or clinical settings. As a result of growing preference for home healthcare solutions and ambulatory treatment methods, wearable ambulatory elastomeric infusion pumps are increasing being utilized for administering medications outside of healthcare facilities. The increased patient mobility and comfort offered by ambulatory pumps is supporting their rising popularity in outpatient settings and propelling the overall demand for elastomeric infusion pumps.

Porter’s Analysis

Threat of new entrants: Low capital requirements and established brand loyalty reduces threat of new entrants in the Elastomeric Infusion Pumps Market.

Bargaining power of buyers: Large customer base increases buyers bargaining power compelling suppliers to offer competitive pricing.

Bargaining power of suppliers: Established suppliers and proprietary product differentiation limits buyers power over suppliers in the Elastomeric Infusion Pumps Market.

Threat of new substitutes: Limited substitutes due to specialized clinical usage maintains market for Elastomeric Infusion Pumps.

Competitive rivalry: Intense competition amid major players characterize the Elastomeric Infusion Pumps Market.

SWOT Analysis

Strength: Non-electronic design ensures high reliability and prevents medication errors.
Economies of scale allow established players to invest in product development.

Weakness: Storage limitations and inability to support complex drug delivery patterns.
Higher costs than electronic pumps limits adoption in cost-sensitive settings.

Opportunity: Growing prevalence of chronic diseases drives demand for infusion therapy worldwide.
Expanding healthcare infrastructure in developing regions presents new customers.

Threats: Stringent regulatory approvals and certification delays market entry of new products.
Rising share of technologically advanced electronic pumps poses substitution threat.

Key Takeaways

The Global Elastomeric Infusion Pumps Market is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing prevalence of chronic diseases. North America dominated the market in 2023 with highest revenue share owing to well established healthcare infrastructure and rising disease burden in the US and Canada.

Regional analysis Asia Pacific is poised to experience fastest growth rate over the forecast period driven by increasing healthcare spending, large patient pool, and expanding medical tourism industry in countries like India and China.

Key players operating in the Elastomeric Infusion Pumps market are B. Braun Melsungen AG, Fresenius Kabi, Leventon, S.A.U, Ambu A/S, Baxter International Inc., Halyard Health, and Nipro Corporation. The major players are focused on new product launches and strategic collaborations to strengthen their market position.

Read More – https://www.pressreleasebulletin.com/the-growing-use-of-elastomeric-infusion-pumps-in-ambulatory-care-is-anticipated-to-openup-the-new-avanue-for-elastomeric-infusion-pumps-market/

14 thoughts on “Elastomeric Infusion Pumps Market is Estimated to Witness High Growth Owing To Trends of Rising Adoption of Ambulatory Infusion Pumps”

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