Research Nester’s recent market research analysis on “Elastomeric Infusion Pump Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global elastomeric infusion pump market in terms of market segmentation by product, application, route of administration, end-user and by region.
High Cancer Occurrence & Increased Adoption in Emerging Markets to Promote Global Market Share of Elastomeric Infusion Pumps
With the rise in cancer incidence with a worldwide 19.3 million new cases with a death rate of 9.9 million as of 2020[DD1] , there is a strong need for effective treatment methods. Chemotherapy is one of the most excessively used treatment techniques, with more than 25% of cancer patients using it in a given year. [DD2] The dosage of chemo -medicine is controlled and given through infusion pumps, hence broadening aspects of the elastomeric infusion pump industry
The expanding market for elastomer infusion pumps in emerging economies is being driven by improved healthcare infrastructure, increased health expenditure and greater awareness of advanced medicine.
Some of the major growth factors and challenges that are associated with the growth of the global elastomeric infusion pump market are:
Growth Drivers:
· Increasing use of chemotherapy, analgesia and antibiotics.
· Growing Aging Population.
Challenges:
Regulatory concerns, possibility of inaccurate flow rates and lack of flexibility to change flowrate and fill volume, stringent regulations by government pertaining to the use of plastics are some of the major factors anticipated to hamper the global market size of elastomeric infusion pumps.
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By product type, the global elastomeric infusion pumps market is segregated into continuous-rate elastomeric pumps and variable rate elastomeric pumps. The market is expected to be dominated over the forecast period by both constant velocity elastomer pumps. In particular, this is due to the extra benefits that these pumps provide of conventional pumps, e.g. their ability to maintain a steady flow of medication delivered and lead to constant fluid concentration. In addition, these infusion pumps are able to be used in any environment that requires constant drug infusion therapy including the home and hospital. As per a estimation 80% of all hospital patients are receiving intravenous treatment.[DD3]
By region, North America is expected to dominate the elastomeric infusion pump over the forecast period, accounting for 44% of the market share. As a result of the high number of hospitalizations and rising frequency of chronic diseases, especially as of 2020, there were 144 cancer deaths and 403 new cancer cases reported for per 100,000 individuals.[DD4]
Further, the increasing number of manufacturing by key companies is likely to drive favorable market growth in Asia Pacific. Manufacturers are focusing on the bundling of relevant accessories and IV medications in order to boost market penetration. Developing countries such as China and India are expected to enjoy significant market growth due to their increasing reliance on direct selling visits.
This report also provides the existing competitive scenario of some of the key players of the global elastomeric infusion pumps market which includes company profiling of Coloplast Group , Shanghai Kindly Medical Instrument Co., Ltd., SOOIL Developments Co., Ltd, Micrel Medical Devices SA , Leventon, S.A.U., Ace-medical, Medtronic, Avanos Medical, Inc., Baxter, Vygon and others .
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