Elastomeric infusion pumps are essential medical devices increasingly used for the continuous delivery of medications including antibiotics, analgesics, chemotherapy drugs, and insulin. These devices make continuous drug delivery possible without the need for an electrical power source by slowly squeezing a pre-loaded elastic bladder filled with fluid medication. With over 34 million Americans suffering from diabetes and insulin dependence continuing to rise in the country, the demand for infusion devices for precise insulin management is growing rapidly.
The global U.S. Elastomeric Infusion Pumps Market is estimated to be valued at US$ 332.46 billion 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 key trends
One of the key trends in the U.S. elastomeric infusion pumps market is the increasing preference for ambulatory infusion pumps owing to their portability. Ambulatory infusion pumps are being increasingly used for cancer pain management and insulin delivery as they allow patients to remain mobile during drug administration. These pumps are compact, lightweight devices that can be worn on the body or kept in a purse or bag. Their small size makes them discreet and convenient to use especially for pediatric patients and diabetics. Furthermore, technological advancements enabling wireless connectivity and remote programming in newer ambulatory pumps is supporting their adoption. Growing demand for home healthcare is also propelling the demand for portable elastomeric pumps in the country. However, product recalls and associated safety issues remain a challenge for market players to address.
Threat of new entrants: New entrants face high capital requirements to manufacture elastomeric infusion pumps. Established players enjoy economies of scale and brand loyalty making entry difficult.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes like syringe pumps. However, customization needs keep power in check.
Bargaining power of suppliers: Suppliers have low bargaining power due to the availability of substitutes and less differentiation in components. This allows players to negotiate prices.
Threat of new substitutes: Substitutes like syringe pumps offer a lower-cost option but lack precision and customization of elastomeric pumps. Product diversification mitigates threats from substitutes.
Competitive rivalry: The U.S. market has the presence of many global and regional players. However, market consolidation is high with top players dominating the market share.
The U.S. Elastomeric Infusion Pumps Market Demand is expected to witness high growth. The global U.S. Elastomeric Infusion Pumps Market is estimated to be valued at US$ 332.46 billion in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2031.
]The North America region dominates over 35% of the market share owing to the rising prevalence of chronic diseases and supportive reimbursement policies for home healthcare.
Key players operating in the U.S. elastomeric infusion pumps are Mitsubishi Heavy Industri, Fresenius Kabi, B. Braun, and Baxter. Mitsubishi Heavy Industries is a leader in manufacturing ambulatory elastomeric pumps for chemotherapy and analgesia. Fresenius Kabi manufactures elastomeric pumps that provide precise medication delivery for infusion therapies.
Leading players focus on new product launches and customization as per therapy areas to gain market share. Partnerships with healthcare facilities and payers help expand access and coverage.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it