MRRSE has added a new research report on the "Global Market Study on Elastomeric Infusion Pumps: Increase Usage in Post-Operative Pain Management and Cancer Treatment to Drive the Market during the Forecast Period" to its collection.
Albany, NY -- (SBWIRE) -- 12/19/2016 -- 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.
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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.
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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.
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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.