U.S. Home Infusion Therapy Market to See 10%CAGR Growth to 2024: Growth Factor & Trends

MaketStudyReport.com adds a New U.S. Home Infusion Therapy Market Research Report for the period of 2018 - 2024 that shows the growth of the market for next few years along with providing a competitive landscape.
U.S. Home Infusion Therapy Market is estimated to surpass USD 13.5 billion by 2024; according to a new research report.

Rising prevalence of chronic diseases such as diabetes and cancer will act high impacting factor for growth of U.S. home infusion therapy market. Around 13 million Americans suffer from chronic diseases, requiring special care and continuous administration of fluids to maintain health, thereby fueling demand for home infusion therapy.

Occurrence of chronic diseases is frequent among geriatric population as compared to the young adults. Elderly people generally prefer home infusion therapy due to its ease in operation and convenience associated with its use. Increasing number of surgical procedures dependent on external supply of nutrition will positively influence adoption of home infusion therapy.

Technological advancements pertaining to home infusion pump has accelerated adoption rate of home infusion therapy. For instance, integration of advanced technology in infusion pumps have reduced the level of errors while administering fluids into the patient?s body. However, Improper reimbursement scenario has negatively affected the market growth by reducing the demand for home infusion therapies. Although, affordability issues have been resolved by some American medical insurance companies that will help in increasing the demand for home infusion therapy services over the forecast period.

Infusion pump business segment dominated the U.S. home infusion therapy market in 2017 and is expected to grow significantly over the forecast period. The growth of the segment is accounted to technological developments in the device leading to reduction in errors that otherwise occurred while using the conventional pumps.

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U.S. Home Infusion Therapy market from Asia Pacific dominated the overall demand, crossing 150 tons consumption by 2024. The region witnesses high population with nutritional deficiency, that results in strong product demand. Presence of established industry participants such as BGG in the region will further contribute towards the revenue generation. North America will witness approximately 3.5% CAGR from 2018 to 2024, essentially due to rising awareness about the benefits of its consumption in multiple application. Presence of various organizations such as Natural Algae U.S. Home Infusion Therapy Association to promote its usage will further support the regional growth.

INNOBIO Ltd., Fuji Chemical Company, Cardax, BGG, Nippon Oil & Energy Corporation, and BASF are among the noticeable players in U.S. Home Infusion Therapy market. Competitors are putting efforts on expanding their business to enhance their customer base. For instance, in March 2016, BGG made an announcement of creation of its subsidiary, Algae Life Sciences, for its production for obtaining an organic product certification. Divis Nutraceuticals, Contract Biotics, Otsuka Pharmaceutical Co. Ltd., Algatech, and Mera Pharmaceuticals are among other notable players.

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Anti-infectives business segment accounted to largest share in 2017 owing to increasing prevalence of skin infections such as candidemia, generating significant demand for anti-infectives therapy. American associations such as National Home Infusion Association (NHIA) are focusing on implementing strategic decisions to develop the schemes for home infusion that have resolved the affordability issues of geriatric population will further propel industry growth.

South Atlantic home infusion therapy market will grow due to growing geriatric population, prone to suffering from infections due to reduced immunity. Elderly people generally suffer hospital acquired infections as well as other bacterial and viral infections that require subsequent treatments. Moreover, growing preference for home infusion therapies has increased due to ease and convenience of receiving the treatment at home will further propel industry growth.

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Pacific Central home infusion therapy market growth will show considerable growth rate owing to an increase in number of home infusion therapy pharmacies. Increasing prevalence of diseases coupled with growing geriatric population has increased the demand for home infusion therapies in the region.

Some of the major industry players competing in U.S. home infusion therapy market are Amsino International, Baxter International, B.Braun Melsungen AG, Becton Dickinson, Caesarea Medical Electronics, Fresenius Kabi, Halyard Health, ICU Medical, Moog, Smiths Medical, and Terumo Corporation.

Industry players are adopting various strategic initiatives such as collaboration, partnership, merger and acquisition for sustaining competition as well as gain significant market share. In March 2014, Caesarea Medical Electronics entered into a collaboration with CareFusion, a global medical technology company, to expand its infusion product portfolio. The collaboration with CareFusion aimed at expanding company?s presence across diverse countries in the world.

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