U.S. ELASTOMERIC INFUSION PUMPS MARKET ANALYSIS

U.S. Elastomeric Infusion Pumps MarketSize and Trends

The U.S. elastomeric infusion pumps market is estimated to be valued at US$ 258.3 million in 2021 and is expected to exhibit a CAGR of 5.7 % during the forecast period (2022-2028).

Figure 1. U.S. Elastomeric Infusion Pumps Market Value (US$ Mn), 2017-2028

The increasing incidence of chronic diseases is expected to drive the market growth over the forecast period.  According to the Centers for Disease Control and Prevention Report published on September 2020, heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the U.S., and one person dies every 36 seconds in the U.S. from cardiovascular disease.

Moreover, the increasing R&D for novel applications of elastomeric infusion pumps is expected to drive the market growth over the forecast period. For instance, in September 2018, researchers from University Hospital of Lausanne, Switzerland, assessed the use of two sub-muscular catheters connected to two elastomeric pumps in post-operative continuous wound.  

U.S. Elastomeric Infusion Pumps Market – Impact of Coronavirus (COVID-19)

Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it as a public health emergency. According to the World Health Organization’s report, manifestation of coronavirus (COVID-19) has resulted in over 162 million infected individuals worldwide as of May 17, 2021.

The coronavirus (COVID-19) pandemic and resulting lockdown in various countries across the globe has impacted the financial status of major companies in urea cycle disorders product market. The private healthcare sector is one of the sectors, which has been majorly impacted by the COVID-19 pandemic. The pandemic has negatively impacted the U.S. elastomeric infusion pumps market in various aspects such as research and development, production, and supply of medicines. The pandemic has also affected the growth of pharmaceutical businesses of various companies across the globe due to lockdowns implemented by governments of several countries.