Elastomeric Infusion Pumps Market Size, Share, Growth Analysis, By Type(Continuous Rate Elastomeric Pump and Variable Rate Elastomeric Infusion Pump), By Application(Pain Management, Chemotherapy), By End-user(Hospitals, Ambulatory Surgical Centers) - Industry Forecast 2024-2031

Elastomeric Infusion Pumps Market size was valued at USD 977.84 million in 2021 and is poised to grow from USD 1067.8 million in 2022 to USD 2159.09 million by 2030, at a CAGR of 9.2 % during the forecast period (2023-2030).

The global elastomeric infusion pump market is experiencing significant growth driven by several key factors. These include the rising number of orthopedic procedures and surgeries, increasing demand for compact disposable ambulatory elastomeric infusion pumps, advancements in technology leading to the introduction of innovative elastomeric infusion pumps, and the growing prevalence of cancer cases and chronic diseases.

The market is experiencing growth primarily due to the increasing prevalence of chronic diseases. For instance, recent data from the International Diabetes Federation Diabetes Atlas Tenth edition in December 2021 revealed that approximately 537 million adults worldwide were diagnosed with diabetes in 2021. This number is projected to reach 643 million by 2030 and 783 million by 2045.

Additionally, according to the World Health Organization (WHO), chronic diseases are expected to cause approximately 41 million deaths each year, accounting for 71% of all global deaths. In low- and middle-income countries, chronic disease-related deaths contribute to 77% of the total.

Furthermore, a study published in May 2022 titled 'Osteomyelitis' indicated that there are around 50,000 reported cases of osteomyelitis annually in the US. The incidence of osteomyelitis is higher in men compared to women and increases with age, which can be attributed to the growing prevalence of comorbid factors such as diabetes mellitus and peripheral vascular disease.

Consequently, the rising burden of chronic diseases among the population is expected to drive the demand for safe medication delivery through intravenous routes. This, in turn, is anticipated to increase the demand for elastomeric infusion pumps, thereby fostering market growth.

US Elastomeric Infusion Pumps Market is poised to grow at a sustainable CAGR for the next forecast year.