June 12, 2020
According to a study titled ‘Home Infusion Therapy Market Size By Product, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global home infusion therapy market is projected to witness remunerative growth through 2026.
Rising cases of chronic disorders along with increasing elderly population base who are at higher risk of acquiring these diseases are fueling the growth of global home infusion therapy market, cites the report.
Notably, home infusion therapy is generally employed to manage complex conditions such as immune globulin therapy. It is deemed as an alternative to oral treatment as it involves administering medications through the use of a sterile catheter which is inserted in the patient’s vein.
Infusion therapy can be administered to a patient in outpatient infusion therapy centers or in homecare settings by registered nurses. It is generally prescribed by physicians when the patient is unable to swallow oral medications or when the treatment of patient involves use of biologic drugs, and in critical conditions wherein the medication needs to be directly regulated into the patient’s bloodstream.
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These therapies are commonly used to treat severe or chronic infections like gastrointestinal disorders, vomiting, dehydration due to diarrhea, nausea, cancer pain, and other chronic diseases, which are unresponsive to oral treatments. Additionally, some of the other diseases which can likely be treated with infusion therapies are multiple sclerosis, some types of immune deficiency disorders, and some variants of arthritis.
Based on the product terrain, needleless connectors segment was worth USD 6.2 billion in 2019 and will continue to show further progress over the forecast period. Better safety, compliance to good clinical practices, and smooth surgical procedures are the key benefits fueling the product demand.
Speaking of the application scope, parenteral nutrition segment is projected to expand with a CAGR of 12% over the study timeframe. The segment growth is attributable to prevalence of malnourished children, rising geriatric population, and high birth rate across the globe boosting the demand for parenteral nutrition as these demographics may face issues in oral consumption.
In reference to the regional overview, home infusion therapy market in Latin America was valued at USD 948 million in 2019 and is anticipated to accrue considerable gains over the estimated timeframe.
Key players in global home infusion therapy market include ICU Medical, Inc., Smiths Medical, Terumo Corporation, B Braun Melsungen AG, Eli Lilly and Company, Baxter International, Inc., Fresenius Kabi, JMS Co. Ltd., Cosmed, and Becton, Dickinson and Company.