Home Infusion Therapy Market by Product (Infusion Pump, IV Cannulas, Intravenous Sets, Needleless Connectors, and Compression Therapy) Application (Anti-Infective, Endocrinology, Hydration Therapy, Chemotherapy, Other Ligament Injuries, Enteral Nutrition, Specialty Pharmaceuticals, and Compression Therapy) Geography (North America, Europe, Asia Pacific and Rest of the World)
Home infusion therapy is a process to provide treatment for the patients at home through intravenous or subcutaneous infusion of drugs or biological. Home infusion therapy enables users to treat patients through catheters and needles in the comfort of the patient’s home. Home infusion therapy allows the patients to avoid long and unnecessary stays in the hospitals and reduces hospital costs. The key factors propelling the market growth are an increase in the elderly population, where the patient is not able to walk to the healthcare center, and advancements in the healthcare technology in infusion therapy made easy to use without any errors in the dosage of the fluids. However, the lack of knowledge about infusion therapy at home is a restrain for the home infusion therapy market growth. The present situation of the COVID-19 Pandemic has a major impact on the home infusion therapy market, where the patients are restricted from going to the healthcare centers for unnecessary treatments. Home infusion therapy is the best service for this situation. The home infusion therapy market is estimated to reach USD 30.4 billion by 2025 from an estimated value of USD 18.11 billion in 2020, growing at a CAGR of 8.9% during the forecast period.
The Home infusion therapy market scope includes
Based on Product:
- Infusion Pumps
- Intravenous Sets
- IV Cannulas
- Needleless Connectors
Based on Application:
- Enteral nutrition
- Hydration Therapy
- Parenteral Nutrition
- Specialty Pharmceuticals
Based on Geography:
- North America
- Asia Pacific
- Rest of the World
The home infusion therapy market, based on the product, the infusion pumps are projected to have the largest share in the market. The infusion pumps are further divided into ambulatory infusion pumps and further categorized into insulin pumps, syringe pumps, and elastomeric pump. Infusion pumps are used to deliver the nutrients and fluids into the body at automated intervals and tiny volumes.
Further, based on the application the anti-infective segment has held the largest share in the market growth. The increase in delivering medication such as anti-fungal and antibiotics and cost-effective treatment without approaching hospitals are the factors which boost the market growth.
Moreover, the increasing elderly population, changing lifestyle, which is unhealthy, leads to chronic diseases such as diabetes and immune deficiencies in North America is increasing the demand for home infusion therapy. The Asia Pacific is also predicted to be the rapidly growing market due to the rising awareness about home infusion advantages and increasing disposable income in this region.
Globally, Home infusion therapy is increasingly adopted by the patients for the comfortable homecare setting and to avoid the expenses in the healthcare centers. The major factors fostering market growth are innovative products such as wireless infusion pumps with remote programmability, where a healthcare professional can closely monitor the patients. In addition, the growing elderly population is the major factor which is driving the market growth. Somehow, the overdose of the fluids can cause a risk to health, which is hampering the market growth.
This report also includes the analysis of key players of the Home Infusion Therapy Market - Braun Melsungen AG, CareFusion Corporation, ICU Medical Inc., Baxter Inc, Smith’s Medical, Caesarea Medical Electronics, Terumo Corporation, JMS co. Ltd, Hospira Inc, and Abbott Laboratories
Moreover, home infusion therapy products and services are acquired by the emerging countries due to the reduced costs and the changing lifestyle of the people. The increasing awareness about the benefits of home infusion therapy at home is supporting market growth. This report of the home infusion therapy market will assist the market competitors in understanding the major market trends, market dynamics, and dynamic requirements of the end-users. The analysis based on the quantitative and qualitative intensifies the user experience of the report.
- The home infusion therapy market report gives the market analysis of the current shifts, opportunities and hindering factors in the market
- This research also helps in understanding the overall analysis of key vendors based on product innovation, recent development, acquisition and mergers
- This report also assists vendors of home infusion therapy for the improvement of the products based on the end-user requirement