Almost 5% Growth for Elastomeric Drug Delivery Pumps Market Between 2019 – 2028 | Growth Forecast & Industry Share Report
Elastomeric drug delivery pumps are also called as balloon pumps, and usually used in the medical application for controlling various liquid drugs including analgesics, anesthetics, and cytostatics or antibiotics. Elastomeric drug delivery pumps are available in two types; continuous rate pumps and variable rate pumps.
The first five-year cumulative revenue (2019–2023) is projected to be more than US$ 4 Bn, which is estimated to increase significantly over the latter part of the five-year forecast period. The global elastomeric drug delivery pumps market was valued at US$ 0.7 Bn in 2018 and is projected to register a CAGR of 4.9% in terms of revenue over the forecast period 2019–2028.
Global Elastomeric Drug Delivery Pumps Market: Market Dynamics
Growing adoption of elastomeric drug delivery pumps among the pharmaceutical industry is one of the major factor expected to drive growth of the global market over the forecast period. In addition, rising adoption of small disposable ambulatory pumps, increasing number of operations and surgeries in clinics can be attributed to increasing incidences of road accidents and increasing prevalence of various disorders and diseases. These are some factors projected to fuel the demand for elastomeric pumps for the post-operative pain management process and propelling growth of the global market.
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Growing prevalence of cancer in various countries across the globe is resulting in high adoption of elastomeric drug delivery pumps which is another factor expected to support revenue growth of the global market. In addition, geriatric population is more prone to various severe diseases and disorders, which may result in high demand for elastomeric drug delivery pumps and fuel growth of the target market. Elastomeric drug delivery pumps offer various advantages over conventional electronic pumps such as feasibility, portability, and reduced possibility of human error. This is another factor anticipated to propel the global market growth.
However, lack of awareness about elastomeric drug delivery pumps among the medical professionals in developing and underdeveloped countries is a major factor expected to hamper growth of the global market over the forecast period.
Global Elastomeric Drug Delivery Pumps Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global elastomeric drug delivery pumps market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global elastomeric drug delivery pumps market is estimated to expand at a CAGR of 4.9% during the forecast period.
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Global Elastomeric Drug Delivery Pumps Market: Segmental Snapshot
The global elastomeric drug delivery pumps market report has been segmented on the basis of product type, treatment type, end user, and region. The product type segment includes continuous rate elastomeric pumps and variable rate elastomeric pumps. The treatment type segment includes pain management, antibiotic/antiviral, chemotherapy, and others. The end user segment includes hospitals, ambulatory surgical centers, home care settings, clinics, and others. The regions covered in the analysis include North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
By Product Type: Among product type, variable rate elastomeric pumps segment is expected to account highest CAGR of over 4.7% over the forecast period.
By Treatment Type: Among treatment type, pain management segment is expected to account highest CAGR of over 4.8% over the forecast period.
By End User: Among end user, hospitals segment is expected to account highest CAGR of over 4.8% over the forecast period.
By Region: Among region, Asia Pacific is expected to account highest CAGR of over 5.5% over the forecast period.
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Global Elastomeric Drug Delivery Pumps Market: Competitive Analysis
The research report on the global elastomeric drug delivery pumps market includes profiles of major companies such as Baxter International, Inc., B. Braun Melsungen AG, Ambu A/S, Fresenius SE & CO. KGaA, LEVENTON S.A.U., Terumo Corporation, Avanos Medical, Inc. Wooyoung Medical Co., Ltd., pfm medical ag, Gamastech Srl, and Nipro Corporation
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