January 07, 2020
According to the latest study titled ‘Home Infusion Therapy Market Size By Product (Infusion Pump, Intravenous Sets, IV Cannulas, Needleless Connectors), By Application (Anti-infective, Hydration Therapy, Chemotherapy, Enteral Nutrition, Parenteral Nutrition, Specialty Pharmaceuticals), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil, Mexico, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global home infusion therapy market is projected to cross US $31 billion by the year 2025.
Rising geriatric population, which is prone to chronic diseases, coupled with increasing prevalence of cancer, diabetes, and cardiovascular disorders are fueling the demand for home infusion therapy. Increasing cases of hospitalizations leading to rising probability of encountering HAIs (hospital acquired infections), along with availability of various home healthcare facilities will propel the growth of home infusion therapy market.
The report cites that the development of smart infusion pumps, which reduce the dosage error by identifying the drug dosage and notifying the clinician with a warning sign, along with other technological advancements will further augment the market outlook. However, limited reimbursement policies with partial coverage are predicted to impede the home infusion therapy industry growth.
Based on product type, infusion pumps segment is anticipated to accrue US $15.7 billion by the year 2025, owing to their widespread use across various medical settings. The product is known to deliver nutrients or fluids to the body in controlled amount at programmed intervals.
In term of application spectrum, home infusion therapy market from parenteral nutrition segment will register a growth rate of 10.3% through the year 2025. Shifting preference for home healthcare settings among the patients is boosting the segmental share. The elderly population finds it difficult to intake nutrition orally. This factor, coupled with rising geriatric population suffering from chronic disorders will fuel the demand for parenteral nutrition.
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Considering the geographical landscape, North America home infusion therapy market is expected to hold substantial share during 2019-2025, on account of increasing cases of chronic ailments and surging prevalence of HAIs. Abundance of infusion therapy providers in the region will further stimulate the home infusion therapy market trends across North America.
The major companies functioning in home infusion therapy market include Terumo, Caesarea Medical Electronics, Smiths Medical, Baxter, Fresenius Kabi, B. Braun, ICU Medical, and CareFusion among others.
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