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Cross Analysis of Product w.r.t Treatment (USD Million), 2023-2036
Part 23
Cross Analysis of Product w.r.t Treatment (USD Million), 2023-2036
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Part 26
Cross Analysis of Product w.r.t Treatment (USD Million), 2023-2036
Part 27
Elastomeric Infusion Pumps Market size was over USD 1.12 Billion in 2023 and is expected to cross USD 3.30 Billion by the end of 2036, growing at more than 8.79% CAGR during the forecast period i.e., between 2024-2036.
The increasing global prevalence of chronic illnesses is driving the market's expansion. The World Health Organization (WHO) issued numbers in September 2023 showing that non-communicable illnesses account for 74% of all deaths globally, killing 41 million people year. Non-communicable diseases claim the lives of 17 million people year before they turn 70, with low- and middle-income nations accounting for 86% of these early fatalities.
Worldwide demand for elastomeric infusion pumps is growing as a result of their affordability, versatility, and convenience of use when it comes to long-term medicine administration. Important developments include their use in home healthcare environments, increased acceptance of pain management, and the administration of chemotherapy and antibiotics outside of conventional hospital settings.
Moreover, advancements in elastomeric pump technology like enhanced accuracy and adjustable dosage contribute to their growing appeal on a worldwide scale.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
8.79% |
|
Base Year Market Size (2023) |
USD 1.12 Billion |
|
Forecast Year Market Size (2036) |
USD 3.30 Billion |
|
Regional Scope |
|
Treatment (Pain Management, Chemotherapy, Chelation Therapy, Infection Management, Antibiotic/Antiviral)
The pain management segment in the elastomeric infusion pumps market is estimated to exceed USD 1.88 Billion by 2036. It is easy and safe to administer medicines continuously with a single-use elastomeric infusion pumps. They help maintain the stability of medication plasma levels and analgesia, which is a useful alternative to painkillers when it comes to controlling acute pain.
Elastomeric pumps provide an uninterrupted and constant flow of medication over a fixed period, which results in more uniform pain relief compared with conventional methods such as pills or injections that dispense the medicine by bursts.
End User (Hospital, Ambulatory Surgical Centers, Homecare)
By the end of 2036, hospital segment in the elastomeric infusion pumps market is poised to exceed USD 1.73 Billion. Due to their portability, ease of use, and ability to provide accurate dosage over a long period of time, elastomeric pumps are suitable for the delivery of medicinal products following surgical procedures. As the world's population ages, the number of chronic diseases that require continuous medication delivery increases.
Compared to the past, population aging is proceeding much more rapidly. The proportion of the world's population aged 60 years or more will nearly double from 12% to 22% between 2015 and 2050. To manage these conditions, hospitals play an essential role and the use of elastomer pumps is a valuable instrument for monitoring and maintaining consistency in drug administration.
Our in-depth analysis of the global elastomeric infusion pumps market includes the following segments:
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Product |
|
|
Treatment |
|
|
Route of Administration |
|
|
End User |
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North American Market Statistics
North America region in elastomeric infusion pumps market revenue is expected to exceed USD 1.46 Billion by the end of 2036. As reported by Centers for Disease Control and Prevention (CDC), America’s chronic diseases account for USD 4.1 Trillion in healthcare spending annually. Nearly six in every ten Americans (6 out of every 10 people) have at least one of the chronic diseases listed in the CDC’s list of chronic diseases.
Heart disease, stroke, colorectal cancer, and diabetes are among the most common chronic diseases in the United States. These chronic diseases are the leading cause of death and disability, and they are also the leading cause of healthcare spending through the use of basic healthcare tools, such as elastomer infusion pumps, across North America.
The US has a well-developed healthcare system, with a large number of specialized care facilities, which puts elastomeric pumps in high demand for pain management and chemotherapy, as well as other applications.
The increasing geriatric population, which is more susceptible to chronic diseases and other related disorders, is increasing the need for hospitalization and intravenous medication for home care, which is also expected to drive elastomeric infusion pumps market growth in Canada. For example, in Canada, a large proportion of the population is between 15 and 64 years old according to statistics published by the United Nations Population Fund for 2022 which represents 65 % of the total population.
European Market Analysis
Elastomeric infusion pumps market size for European region is predicted to cross USD 790 Million during the studied period. Like other regions in the world, Europe has a high burden of chronic diseases such as cancer, diabetes, and cardiovascular diseases. For example, noncommunicable diseases (NCDs) such as cardiovascular disease (CVD), diabetes (CVD), chronic respiratory disease (CRD), mental disorders (MDS), neurological disorders (NMD), and cancer (CJD) represent 80% of disease burden in the EU countries and account for the majority of preventable early deaths. The human and economic costs of NCDs are considerable and are expected to increase as the EU population ages.
The increasing adoption of home healthcare solutions and the demand for patient-centric medical equipment, as well as an increase in healthcare services such as ambulatory surgery and postoperative care in the United Kingdom, are contributing to this growth.
The adoption of elastomer infusion pumps across the continent has been reinforced by a Germany focus on healthcare effectiveness, patients' safety, and sustainable health care practices which have marked them as a significant elastomeric infusion pumps market for these indispensable tools.
The strong presence of the main players, availability of advanced healthcare infrastructure, and technical innovation which has an impact on market development in France.
Author Credits: Radhika Pawar
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