Elastomeric infusion pumps are non-electric, disposable pumps that administer regulated quantities of fluids, such as antibiotics, analgesics, and chemotherapeutic medications, into a patient's body. The elastomeric infusion pump is made of an elastic layer that provides the necessary pressure for medication administration. These pumps outperform traditional infusion pumps in mobility, practicality, and less room for human mistakes. Furthermore, these pumps do not rely on power or gravity. It may also be used for a variable period ranging from a few minutes to several days. Continuous rate pumps and variable rate pumps are the two forms of elastomer infusion pumps.
Elastomeric infusion pumps in the pain management, infection management, and chemotherapy market are observed to be highly competitive and comprise a large number of players. However, the market is currently dominated by a few players, such as B Braun Melsungen Ag, Baxter International Inc., and Promecon GmbH. The development of novel elastomer infusion pumps offers advanced features compared to conventional electronic pumps, such as portable, feasible, and low-cost devices, which drives the adoption of elastomer infusion pumps in the market. In addition, factors such as increased comfort, high patient satisfaction, and dose customization are expected to influence further the growth of novel elastomeric infusion pumps in the market. Thus, the development of novel elastomeric infusion pumps will drive the demand for elastomer infusion pumps.
Opportunities in untapped, emerging markets will likely drive the growth of the elastomer infusion pump market due to improved medical device industry infrastructure, a rise in medical device industries, and an increase in demand for elastomer infusion pump products. The healthcare industry in an emerging economy is developing significantly due to increased demand for better-advanced manufacturing systems and significant government investments to improve healthcare infrastructure. Moreover, emerging markets, such as China and India, are hubs of medical device companies, which will further contribute to the growth of this market.
North America is the largest worldwide elastomer infusion pump market stakeholder, with a CAGR of 2.7% expected over the projected period. This is mostly due to the development of technologically sophisticated elastomer infusion pump products, greater use of elastomer infusion pump products, and an increase in non-government and government healthcare promotion programs. Major players in the area, such as Baxter International Inc., Halyard Health, Nipro Medical Corporation, Pfizer Inc., and others, drive the growth of the elastomer infusion pump market. Furthermore, increased demand for elastomer infusion pumps, the availability of modern healthcare facilities with skilled medical experts, and the number of R & D centers all contributed to the expansion of the North American market.
Europe is expected to grow at a 3.7% CAGR throughout the projection period. The European elastomer infusion pump market is growing due to a large population base, increased disposable income, and increased demand for innovative technology. Furthermore, due to increased demand for elastomer infusion pumps for post-operative pain treatment, European hospitals are expanding their investments in elastomer infusion pump products. The market for elastomer infusion pumps is expected to increase significantly in Germany, France, and the United Kingdom, owing to the strong presence of important companies, the availability of established healthcare infrastructure, and technical advances, all driving market growth in Europe.
The key players in the global elastomer infusion pump market are B Braun Melsungen Ag, Baxter International Inc., Heka Healthcare, Nipro Medical Corporation (Nipro Medical Europe NV), Pfizer Inc. (Hospira Inc.), and Promecon GmbH, Halyard Health, Palex Medical SA, Pfm Medical Ag, and Samtronic SA., and others.