Elastomeric Drug Delivery Pumps Market By Product Type (Continuous Rate Elastomeric Pumps And Variable Rate Elastomeric Pumps), End User (Hospitals, Ambulatory Surgical Centers, Home Care Settings, And Other), and Region - Global Forecast to 2028

The global elastomeric drug delivery pumps market was valued at US$ 0.7 Bn in 2018 and is projected to register a CAGR of 4.9% in terms of revenue over the forecast period 2019–2028. The report offers in-depth insights, revenue details, and other vital information regarding the global elastomeric drug delivery pumps market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report includes PEST analysis, Porter’s Five Forces analysis, and opportunity map analysis for in-depth understanding of the market. The report offers insightful and detailed information regarding the various key players operating in the global elastomeric drug delivery pumps market, their financials, technological innovations, key developments, apart from future strategies, SWOT analysis, acquisitions & mergers, and market footprint. The global elastomeric drug delivery pumps market is segmented on the basis of product type, treatment type, end user, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Elastomeric drug delivery pumps are also called balloon pumps which are used in the medical sector for controlled delivery of liquid drugs such as antibiotics, analgesics, anesthetics, etc. These pumps are categorized into two types including variable rate elastomeric pumps and continuous rate elastomeric pumps.

Global Elastomeric Drug Delivery Pumps Market Dynamics:

Elastomeric drug delivery pumps market is majorly driven by increasing adoption of these pumps among the pharmaceutical industry, cpupled with increasing prevalence of various severe disorders and diseases globally. In addition, growing incidents of accidents, disease & disorders, etc., resulting in an increase in a number of operation and surgeries and impelling demand for elastomeric pumps for the post-surgery pain management purpose. These are some additional factor anticipated to fuel growth of the global market over the forecast period. Various benefits offered by elastomeric drug delivery pumps such as easy to use, feasibility, discreteness, portability, and fewer chances of human error are some other factors expected to augment growth of the global market.

Elastomeric drug delivery pumps are highly preferable for pain management over other alternatives such as electronic ambulatory pumps and patient-controlled analgesia pumps owing to its easy drug delivery process during or post-surgeries such as cosmetic plastic surgeries. This is another factor projected to propel the target market growth. Increasing base of the cancer-affected population across the globe is a key factor anticipated to influence the adoption of elastomeric drug delivery pumps, which in turn, resulting in growth of the global market during the forecast period.

A growing number of clinical trials and approval by FDA authorities for elastomeric drug delivery pumps earlier past, due to growing demand for medical devices and novel therapeutic drugs along with increasing investments in research and development activities among pharmaceuticals sector are some major aspects creating lucrative opportunities for growth of the global market.

A key trend observed in the global elastomeric drug delivery pumps market is the advancements in the pumps in terms of design and thus ensuring greater patient safety.

In addition, growing base of geriatric population in developed, as well as developing countries, which is more prone to various disorders and diseases, is another factor projected to support the revenue growth of the global market. Increasing prevalence of chronic disease such as high blood pressure, diabetes, and other complex health issues among geriatric as well as younger population, owing to stressful and unhealthy lifestyle. This is another factor anticipated to propel the global market growth during the forecast period. Growing number of unmet medical needs in developing countries, due to increasing incidence of various infections and tropical syndromes in such countries is another factor supporting growth of the global market. Futhermore, growing demand for elastomeric drug delivery pumps for post-operative pain management of different chronic ENT related issues such as nose tumor, nasal obstruction, nasal injuries, etc. coupled with the increasing prevalence of chronic sinusitis is a factor anticipated to fuel growth of the global market

However, the low adoption rate of elastomeric drug delivery pumps coupled with lack of awareness regarding these pumps among medical professionals in developing and underdeveloped countries is one of the major factor expected to hamper growth of the global market. In addition, the lack of skilled professionals for operating these pumps is another factor projected to challenge the target market growth over the forecast period. Furthermore, increasing product recalls and high cost associated with the procedure are some additional factors expected to limit growth of the global market.

Analysis by Product Type:

Among the product type segment, the continuous rate elastomeric pumps segment in the target market has been estimated to account for significant revenue share and is expected to continue its dominance over the forecast period. The variable rate elastomeric pumps segment is projected to contribute the second-largest share in the global market in terms of revenue.

Analysis by Treatment Type:

Among all the treatment type segments, pain management segment in the target market has been estimated to contribute for majority revenue share and is expected to register CAGR of over 4.8% over the forecast period. The chemotherapy segment is expected to account for second-largest revenue shares of the global market, which can be attributable to growing prevalence of chronic diseases in developed as well as developing countries.

Analysis by End User:

Among the end user segment, the hospitals segment is projected to account for major share in terms of revenue and expected to maintain its dominance over the forecast period.

Analysis by Region:

Among all the regions, North America is expected to dominate the elastomeric drug delivery pumps market and continue its dominance over the forecast period. This is attributed to strong presence of the healthcare industry in this region.

Global Elastomeric Drug Delivery Pumps Market Segmentation:

Segmentation by Product Type:

• Continuous Rate Elastomeric Pumps
• Variable Rate Elastomeric Pumps

Segmentation by Treatment Type:

• Pain Management
• Antibiotic/Antiviral
• Chemotherapy
• Others

Segmentation by End User:

• Hospitals
• Ambulatory Surgical Centers
• Home Care Settings
• Clinics
• Other

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa