This report by Persistence Market Research (PMR) examines the ‘Elastomeric Infusion Pumps Market for the period 2016–2024’. The primary objective of the report is to offer updates and information related to market opportunities in the Global Elastomeric Infusion Pumps Market.
The global elastomeric infusion pumps market report begins by defining various types of elastomeric infusion pumps. It is followed by an overview of market dynamics of the global elastomeric infusion pumps market, which includes PMR analysis of key trends, drivers, restraints and opportunities, regulations, and reimbursement scenario that is influencing the growth of the elastomeric infusion pumps market. It also includes an insight into pricing of the products by regions and highlighting regional pricing dynamics. Impact analysis of key growth drivers and restraints based on a weighted average model have been included in the global elastomeric infusion pumps market report after detailed analysis of individual regions to better equip readers with meaningful insights on ongoing developments in the market.
The primary factors fuelling demand for elastomeric infusion pumps are growing incidences of gastrointestinal disorders and cancer. Other factors driving demand for elastomeric infusion pumps are increase in the number of surgeries, requiring disposable pumps for post-operative pain management at home. Whereas increasing number of product modifications and entry of regional and local players also drives the market for elastomeric infusion pumps. However, a primary factor hampering growth of the elastomeric infusion pumps market is the vast number of product recalls, including both voluntary recalls and recalls due to FDA mandates.
Based on product type, the market has been segmented into continuous rate elastomeric pumps and variable rate elastomeric pumps. A detailed analysis has been provided for these segment in terms of market size, Y-o-Y growth rate, absolute $ opportunity, and BPS analysis.
Based on treatment type, the market has been segmented into pain management, antibiotic/antiviral, chemotherapy, and chelation therapy (iron chelation for thalassemia). Our analysis predicts that enteric disorders and chronic pain incidences would increase at a very fast pace, increasing the number of admissions for major surgeries, which is expected to contribute significantly to increasing demand for elastomeric infusion pumps over the forecast period. Further, based on end-user segmentation, increasing demand for elastomeric infusion pumps is expected to come from hospitals, as analgesics are prescribed through disposable infusion pumps for early discharge after a major surgery. This trend is expected to be particularly prominent in countries where access to healthcare services is increasing especially in Asia Pacific.
The next section of the report highlights elastomeric infusion pumps adoption by region and provides market outlook for 2016–2024. The report also discusses key regional trends contributing to growth of the elastomeric infusion pumps market worldwide, as well as analyzes the impact of drivers and restraints in each region. Key regions assessed in this report include North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
The above sections—by product type, treatment, end users, and region—evaluate the present scenario and growth prospects of the global elastomeric infusion pumps market for 2016–2024. We have considered 2015 as the base year and provided data for the forecast period, i.e., 2016–2024.
To ascertain elastomeric infusion pumps market size, we have also considered revenue generated by device manufacturers. The forecast presented here assesses the total revenue by value across the elastomeric infusion pumps market. In order to offer an accurate forecast, we started by sizing up the current market, which forms the basis of how the elastomeric infusion pumps market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analysis based on supply side, downstream industry demand, and the economic envelope.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyze it based on key parameters such as year-on-year (Y-o-Y) growth rates to understand the predictability of the market, and to identify the right opportunities across the elastomeric infusion pumps market.
The elastomeric infusion pumps segments in terms of product, treatment, end users, and regions are analyzed in terms of Basis Point Share (BPS) to understand individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the elastomeric infusion pumps market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective, in the global elastomeric infusion pumps market.
To understand key growth segments in terms of growth and adoption for elastomeric infusion pumps globally, Persistence Market Research developed the elastomeric infusion pumps market ‘Attractiveness Index’. The resulting index is expected to help providers identify real market opportunities.
In the final section of the report on the global elastomeric infusion pumps, ‘Competitive Landscape’ is included to provide report audiences with a dashboard view, based on categories of providers in the elastomeric infusion pumps product portfolio and key differentiators. Key categories of providers covered in the report are elastomeric infusion pumps manufacturers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the elastomeric infusion pumps value chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on in-depth assessment of capabilities and successes in elastomeric infusion pumps marketplace.
Detailed profiles of the providers are also included in the scope of the report to evaluate their long- and short-term strategies, key offerings, SWOT analysis, and recent developments in the global elastomeric infusion pumps market.
Key competitors covered in terms of manufacturers include B. Braun Melsungen AG., Fresenius Kabi AG, Baxter International Inc., Leventon S.A.U, Ambu A/S, Halyard Health, Inc., Nipro Corporation, Woo Young Medical Co., and Coopdech.
Key Segments Covered
Key Regions/Countries Covered
Elastomeric pumps are disposable, non-electronic medication pumps that delivers fluids such as analgesics, antibiotics, etc. into a patient’s body in controlled amounts. The required pressure for administrating the drug comes from the elastomeric layer existing inside the pump. Pump failure can have significant implications on patient safety, making it mandatory for pumps to be operated by a trained person. The global elastomeric infusion pumps market has been segmented on the basis of product type, treatment type, end user, and regions.
Growth of the global elastomeric infusion pumps market is mainly driven by rising adoption and growing demand for small disposable ambulatory pumps, due to its long term home care rehabilitation program. Another prominent growth driver is the increasing number of surgeries as a result of increasing rate of hospitalization, which ultimately increases the demand for elastomeric pumps for post-operative pain management. However, rising R&D costs and frequent product recalls, mostly due to design flaws, are expected to restrain growth of the market over the forecast period.
International harmonization, along with frequent product inspections, is set to define the regulatory landscape for elastomeric infusion pumps. Device manufacturers are expected to invest more on better product designs to minimize the probability of product recalls and adverse impact on patient safety.
Based on product type, the market has been segmented into continuous rate elastomeric pumps and variable rate elastomeric pumps.
Based on treatment, the market has been segmented into pain management, antibiotic/antiviral, chemotherapy, and chelation therapy (iron chelation). Pain management treatment segment, followed by chemotherapy treatment segment, is expected to account for the highest demand for elastomeric infusion pumps over the forecast period.
Based on end users, the market has been segmented into hospitals, clinics, ambulatory surgical centres, home care, and others. Hospitals segment currently accounts for the highest revenue of the elastomeric infusion pumps market. Home infusion therapy is also gaining prominence in the U.S. due to upcoming attractive reimbursement options.
The global elastomeric infusion pumps market has been segmented into five major regions: North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). In terms of value, North America is estimated to be the dominant market for global elastomeric infusion pumps market in 2016 and expected to expand at a CAGR of 5.7% over the forecast period. Europe and APAC are estimated to be the fastest growing markets in terms of CAGR. APAC elastomeric infusion pumps market is expected to register a CAGR of 7.1% over the forecast period. Hospitals segment in the APAC elastomeric infusion pumps market is expected to register a CAGR of 7.9% over the forecast period, with growth driven by development of healthcare infrastructure leading to more construction of small and mid-sized hospitals, and increasing number of local players and start-up firms entering this market.