According to the latest report by Reports and Data, the global Elastomeric Infusion Pumps Market size is predicted to reach USD 28.01 Billion by 2030, with a revenue CAGR of 9.4% over the forecast period. This growth is attributed to the increasing adoption of infusion pumps for the treatment of chronic diseases, such as cardiovascular disease, and the rapid implementation of advanced technologies in infusion pumps.
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However, the market faces challenges such as medication errors associated with infusion pumps that can potentially hinder revenue growth during the forecast period. Additionally, issues related to electrical and mechanical failure can make it challenging to operate the device in a busy hospital environment, creating difficulties in designing models according to consumer needs that may restrain market revenue growth.
The devices segment is projected to account for the largest revenue share in the global infusion pump market between 2022 and 2030. This is because the increasing demand for infusion pumps in medical emergency centers to deliver fluids at automated intervals is driving the revenue growth of this segment. The ambulatory segment is also expected to experience rapid revenue growth during the forecast period, primarily due to the growing demand for ambulatory infusion pumps in home care settings. These pumps are typically plastic handheld devices consisting of a disposable syringe or a disposable collapsible bag reservoir, which help to propel the infusate.
In terms of regional growth, the Asia-Pacific market is expected to experience steady revenue growth during the forecast period. This is due to the increasing aging population in countries in the region, leading to a rise in the use of infusion pumps in the geriatric population.
The ambulatory segment is expected to register a rapid revenue growth rate over the forecast period. The increasing demand for ambulatory infusion pumps in home care settings is expected to drive revenue growth of this segment.
The Asia-Pacific market is expected to register a steady revenue CAGR in the global market over the forecast period. The increasing aging population in countries in the region is expected to drive market revenue growth. Infusion pumps are widely used in the geriatric population, as it is an improved method to administer medications, hormones, nutrition, and others, which is expected to support market revenue growth in Asia-Pacific.
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The global market report on infusion pumps features profiles of prominent companies such as B. Braun Melsungen AG, Becton, Dickinson and Company, Baxter International, Inc., ICU Medical, Inc., Fresenius Kabi Oncology Limited, Eitan Medical, Micrel Medical Devices, Medtronic PLC, TERUMO, Co., and Avanos Medical, Inc. Eitan Medical announced the opening of a new office in Germany in July 2021 to support its growing client base in Europe.
The market is categorized into product type, application, material, end-use, and region. The product type segment includes devices, consumables, and accessories, while the application segment includes pain management, neonatology, oncology, hematology, diabetics management, gastroenterology, and others. The material segment consists of battery, piston seal, needleless connectors, BLDC motor, barrel, catheter connector, check valve seal, electronic hybrid module, and others. The end-use segment comprises hospitals, ambulatory care, homecare, and academic. Finally, the regional segment covers North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
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