Home Infusion Therapy Market Revenue Predicted to Go Up by 2022
Zion Market Research has published a new report titled “Home Infusion Therapy Market by Product (Infusion Pump, Intravenous Sets, IV Cannulas, and Needleless Connectors) by Application (Anti-Infectives, Endocrinology, Enteral nutrition, Hydration Therapy, Parenteral Nutrition): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. According to the report, the global home infusion therapy market was valued at around USD 15.16 billion in 2016 and is expected to reach around USD 27.95 billion by 2022, growing at a CAGR of 10.6 % between 2017 and 2022.
Infusion therapy involves the administration of drug intravenously. It is prescribed when a patient’s condition is much severe and cannot be treated effectively by oral medications. Technological advances have enabled safe and effective administration of infusion therapies at home. Infusion therapy is required in several health conditions which include infections that are not responsive to oral antibiotics, cancer-related pain, dehydration, gastrointestinal disorders and much more. For individuals requiring long-term therapy, inpatient care is needed Home infusion has been proven to be a safe and effective alternative.
Based on Product type, the market can be segmented into the infusion pump, intravenous sets, IV cannulas and needleless connectors. Infusion pump was the major segment and it accounted the major share of total revenue generated in 2016. Needleless connectors are fastest growing segments in this market. On the basis of application type, the market is divided into anti-infectives, endocrinology, enteral nutrition, hydration therapy, chemotherapy, parenteral infusion, immunoglobulin infusion and others. Anti-infectives was the major segment and it accounted for over maximum share of total revenue generated in 2016. Enteral nutrition, parenteral infusion, and chemotherapy were the fastest growing segments in this market.
The global home infusion therapy market by North America and it held a maximum share of total revenue generated in 2016. This growth can be attributed to the presence of key players and good health awareness among people. The growth is also due to a large number of chronic diseases and growing geriatric population in this region. There is a significant increase in IV based therapy drugs to treat chronic and rare diseases (including blood factors, corticosteroids, growth hormones, immunoglobulin, monoclonal therapies and others) are being infused in home settings. There is a rise in adoption of home infusion therapy in the administration of anti-infectives such as antibiotics, antiviral, antifungal drugs, chemotherapy drugs, parenteral nutrition, hydration products and pain management.
Europe is another leading regional market followed by North America on account of advanced medical facilities and growing number of specialty-pharmacy and home-infusion centers in European countries. The region has a lot to offer, as the population is more health conscious and faster adoption rate of home infusion therapy due to rise in per capita income. Asia Pacific was a fastest growing market on account of rising geriatric population, rising disposable income and increasing consumer spending towards healthcare. The region is fastest developing owing to raising awareness among people regarding the use of infusion drug therapies in hospitals and healthcare facilities. Latin America was emerging market with rising healthcare infrastructure. Brazil and rest of Latin America are anticipated to fuel the market growth in coming years.
Browse the full ” Home Infusion Therapy Market by Product (Infusion Pump, Intravenous Sets, IV Cannulas, Needleless Connectors) by Application (Anti-Infectives, Endocrinology, Enteral nutrition, Hydration Therapy, Parenteral Nutrition): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022” report at https://www.zionmarketresearch.com/report/home-infusion-therapy-market
Some of the key players operating in the market such as Baxter, B. Braun Melsungen AG, Care Fusion Corporation, ICU Medical, Inc., Fresenius Kabi AG, JMS Co. Ltd., Terumo Corporation, Smiths Medical and Caesarea Medical Electronics.
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