July 19, 2024

Increasing Chronic Disease Prevalence To Boost The Growth Of Elastomeric Infusion Pumps Market

Market Overview:

Elastomeric infusion pumps are medical devices that are used to regulate fluid flow rates in an intravenous therapy. They are made of a flexible chamber that is placed between pressure plates and uses natural spring elasticity to infuse fluids at a controlled rate. Elastomeric infusion pumps are compact, portable and have applications in both hospital and home care settings. They provide advantages such as ease of use, improved safety, enhanced patient mobility and lower costs compared to electronic infusion pumps. Rising prevalence of chronic diseases such as cancer, diabetes that require continuous drug delivery is driving the demand for elastomeric infusion pumps globally.

Market key trends:

One of the key trends in the elastomeric infusion pumps market is the introduction of disposable models. Traditionally reusable elastomeric pumps required cleaning and disinfection between uses which increased the risk of contamination and infection. However, newer disposable models eliminate this risk completely making them more preferred alternative especially in home care settings. Being single-use and pre-filled, disposable pumps offer convenience to patients along with ensuring sterility of every infusion. Their adoption is increasing due to growing preference for safety and ease of use among both patients and healthcare providers.

Porter’s Analysis

Threat of new entrants: Low costs of setting up elastomeric infusion pumps manufacturing plants will threaten new entrants in the market. However, established players enjoy economies of scale and brand recognition which create entry barriers.

Bargaining power of buyers: Large healthcare providers and institutions have higher bargaining power due to the consolidated nature of buyers. They can negotiate on price and demand tailored products.

Bargaining power of suppliers: A few major suppliers dominate the market. This gives them control over prices of raw materials like rubber, plastic and electronics. Supplier concentration increases their bargaining power.

Threat of new substitutes: No close substitutes for elastomeric infusion pumps exist. However, large epidural pumps and injectable drugs pose a potential threat.

Competitive rivalry: Large multinational corporations dominate the market. Players compete based on product differentiation, pricing and expand into new regions.

Key Takeaways

The Global Elastomeric Infusion Pumps Market Demand is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing prevalence of chronic diseases. Elastomeric infusion pumps are used to deliver medications for conditions like cancer, diabetes and analgosedation which are on the rise worldwide.

Regional analysis: North America dominates the market due to supportive healthcare infrastructure and reimbursements. Increased funding for research in the United States is also a growth driver. However, Asia Pacific is anticipated to be the fastest growing region attributed to surging medical tourists, rapid economic development and healthcare reforms across developing countries.

Key players operating in the Elastomeric Infusion Pumps market are B. Braun Melsungen AG, Fresenius Kabi, Leventon, S.A.U, Ambu, and Baxter International Inc. Players are focusing on new product launches, geographical expansion and mergers & acquisitions to garner greater revenue share. For instance, Baxter launched its Clara Vista infusion pump system in 2022 to offer enhanced patient safety.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it