The U.S. elastomeric infusion pumps market provides ambulatory drug delivery with continuous, precise, and flexible dosage. Elastomeric pumps are wearable, portable devices used to administer medications such as antibiotics, chemotherapy drugs, analgesics, and other drugs. They find wide application in chronic disease management, pain management, and pediatric cases.
The global U.S. elastomeric infusion pumps market is estimated to be valued at US$ 332.46 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising chronic disease prevalence has been a key driver behind the growth of the U.S. elastomeric infusion pumps market. According to the Centers for Disease Control and Prevention, six in ten Americans live with at least one chronic disease like heart disease, cancer, or diabetes. Elastomeric pumps offer an effective way to manage chronic conditions through ambulatory drug delivery. The devices are also gaining popularity for pain management in light of the opioid crisis in the country. Their precision and flexibility allow for targeted drug delivery and better symptom control with minimum systemic effects or risk of addiction. Further, increasing demand for home healthcare is supplementing the need for portable infusion devices like elastomeric pumps. This is anticipated to present lucrative opportunities for players in the U.S. market over the forecast period.
SWOT Analysis
Strength: Elastomeric Infusion Pumps are compact, portable, light weight and require low maintenance which makes them easy to use by patients for self-administration of drugs at home or when traveling. They utilize rubber technology to accurately deliver medication over extended period of time in a cost effective manner. They do not require battery or external power source to operate.
Weakness: Elastomeric Infusion Pumps have limited customization and programming options compared to electronic pumps. The medication flows at constant rate without capability to adjust flow based on individual needs. Manual handling is required for filling the reservoir and priming the system before use.
Opportunity: Rising geriatric population suffering from chronic diseases like cancer and diabetes is increasing demand forlong term home based care. This is expected to drive the demand for wearable drug delivery solutions like elastomeric pumps for ease and convenience. Growing health awareness and expanding medical insurance coverage is also supporting home healthcare market.
Threats: Stringent regulatory landscape leads to high compliance costs. Technological advancements in drug delivery systems like wireless connectivity in infusion pumps pose competition threat to conventional pumps. Economic slowdowns can negatively impact the healthcare expenditures.
Key Takeaways
The U.S. Elastomeric Infusion Pumps Market Demand is expected to witness high growth over the forecast period owing to rising incidences of chronic diseases and growing geriatric population requiring long term drug delivery at home. The global U.S. elastomeric infusion pumps market is estimated to be valued at US$ 332.46 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2031.
Regional analysis indicates that the Western region dominate the U.S. market currently due to higher healthcare spending and availability of advanced healthcare facilities. States like California and Texas with large elderly population base are major markets. However, Southern region is expected to witness fastest growth led by States like Florida owing to emerging medical tourism and significant healthcare infrastructure development in recent years.
Key players operating in the U.S. Elastomeric Infusion Pumps market are Mitsubishi Electric, Medtronic, Baxter, Braun, Terumo, Smiths Medical, DJO Global, Becton Dickinson, Animas, Insulet, CareFusion, Moog, Roche, Abbott, Hospira, Fresenius Kabi. They are focusing on new product launches catering to evolving needs and investing in branding and promotion activities to strengthen market presence. However, regional and local generic brands also have considerable market share.
Check below related articles on this topic: https://www.ukwebwire.com/u-s-elastomeric-infusion-pumps-market-demand/
https://blogger-veritas.blogspot.com/2024/01/the-global-ventricular-assist-devices.html
The U.S. elastomeric infusion pumps market provides ambulatory drug delivery with continuous, precise, and flexible dosage. Elastomeric pumps are wearable, portable devices used to administer medications such as antibiotics, chemotherapy drugs, analgesics, and other drugs. They find wide application in chronic disease management, pain management, and pediatric cases.
The global U.S. elastomeric infusion pumps market is estimated to be valued at US$ 332.46 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising chronic disease prevalence has been a key driver behind the growth of the U.S. elastomeric infusion pumps market. According to the Centers for Disease Control and Prevention, six in ten Americans live with at least one chronic disease like heart disease, cancer, or diabetes. Elastomeric pumps offer an effective way to manage chronic conditions through ambulatory drug delivery. The devices are also gaining popularity for pain management in light of the opioid crisis in the country. Their precision and flexibility allow for targeted drug delivery and better symptom control with minimum systemic effects or risk of addiction. Further, increasing demand for home healthcare is supplementing the need for portable infusion devices like elastomeric pumps. This is anticipated to present lucrative opportunities for players in the U.S. market over the forecast period.
SWOT Analysis
Strength: Elastomeric Infusion Pumps are compact, portable, light weight and require low maintenance which makes them easy to use by patients for self-administration of drugs at home or when traveling. They utilize rubber technology to accurately deliver medication over extended period of time in a cost effective manner. They do not require battery or external power source to operate.
Weakness: Elastomeric Infusion Pumps have limited customization and programming options compared to electronic pumps. The medication flows at constant rate without capability to adjust flow based on individual needs. Manual handling is required for filling the reservoir and priming the system before use.
Opportunity: Rising geriatric population suffering from chronic diseases like cancer and diabetes is increasing demand forlong term home based care. This is expected to drive the demand for wearable drug delivery solutions like elastomeric pumps for ease and convenience. Growing health awareness and expanding medical insurance coverage is also supporting home healthcare market.
Threats: Stringent regulatory landscape leads to high compliance costs. Technological advancements in drug delivery systems like wireless connectivity in infusion pumps pose competition threat to conventional pumps. Economic slowdowns can negatively impact the healthcare expenditures.
Key Takeaways
The U.S. Elastomeric Infusion Pumps Market Demand is expected to witness high growth over the forecast period owing to rising incidences of chronic diseases and growing geriatric population requiring long term drug delivery at home. The global U.S. elastomeric infusion pumps market is estimated to be valued at US$ 332.46 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2031.
Regional analysis indicates that the Western region dominate the U.S. market currently due to higher healthcare spending and availability of advanced healthcare facilities. States like California and Texas with large elderly population base are major markets. However, Southern region is expected to witness fastest growth led by States like Florida owing to emerging medical tourism and significant healthcare infrastructure development in recent years.
Key players operating in the U.S. Elastomeric Infusion Pumps market are Mitsubishi Electric, Medtronic, Baxter, Braun, Terumo, Smiths Medical, DJO Global, Becton Dickinson, Animas, Insulet, CareFusion, Moog, Roche, Abbott, Hospira, Fresenius Kabi. They are focusing on new product launches catering to evolving needs and investing in branding and promotion activities to strengthen market presence. However, regional and local generic brands also have considerable market share.
Check below related articles on this topic: https://www.ukwebwire.com/u-s-elastomeric-infusion-pumps-market-demand/
https://blogger-veritas.blogspot.com/2024/01/the-global-ventricular-assist-devices.html
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