What are the Growth Drivers of Home Infusion Therapy Market? B. Braun Melsungen AG, Baxter International, Inc, Caesarea Medical Electronics, CareFusion Corporation, Fresenius Kabi, ICU Medical Inc, Smiths Medical, Terumo Corporation
North America home infusion therapy market held the majority market share of 44.5%, owing to rising prevalence of chronic diseases coupled with increasing number of hospital acquired infections (HAI?s). According to the Centre for Disease Control and Prevention (CDC) in July 2015, around 648,000 individuals in the U.S. acquired infections due to hospital stay. Furthermore, growing infusion therapy providers along with increasing demand for home infusion therapy are the factors propelling industry growth in North America.
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Home Infusion Therapy Market is expected to exceed USD 31 billion by 2025. Technological advancements coupled with increasing demand for home infusion therapy will positively drive the market growth.
Technological advancements such as development of smart infusion pumps and other therapy devices will boost the home infusion therapy market. Smart infusion pumps have dose error reduction software that enables identification of drug dosages and presents a warning on the user interface screen alerting the clinicians. Hence, such technological innovations will positively drive home infusion therapy market growth across the projected timeframe.
Infusion pumps segment will reach USD 15.7 billion by 2025. Infusion pumps deliver fluids that include nutrients as per prescribed medications, in patient?s body through controlled amounts. They are extensively used in medical settings such as, hospitals, homecare, and nursing homes. Associated advantages such as capability to deliver fluids in very minor volumes and exactly at automated intervals or programmed rates will positively boost product demand, thus propelling industry growth.
Rising prevalence of hospital acquired infections caused by viral, bacterial and fungal pathogens due to breaches of infection control practices and procedures will stimulate the home infusion therapy market growth. Immunocompromised patients, elderly and children are more prone to suffer from hospital acquired infections. Increasing number of hospitalizations has further boosted hospital acquired infections incidence resulting in higher demand for home infusion therapy.
Parenteral nutrition segment is estimated to witness significant growth rate of 10.3% during the projected period. High growth is attributable to significant growth of home healthcare among developed regions of North America and Europe. Moreover, rising geriatric population base across the world that are more prone to chronic disorders have difficulty in taking nutrition via oral route. Therefore, increasing rate of elderly population coupled with rising demand for home healthcare will foster segmental growth.
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The home infusion therapy market is consolidated in nature. High capital investments associated with home infusion therapies will prevent new players from entering the market. CareFusion, ICU Medical, B. Braun, Fresenius Kabi, Baxter, Smiths Medical, Caesarea Medical Electronics, and Terumo are few of the industry players operating in the home infusion therapy market. These companies are investing in the research and development of novel and effective solutions for infusion therapy. Also, the companies are focused on strategic collaborations, acquisition and new product launch to gain major revenue share and strengthen their market position. For instance, in April 2018, Smiths Medical announced the launch of CADD-Solis wireless infusion pump. This new product launch enabled the company to strengthen its product portfolio, thus augmenting its revenue growth.
Table of Content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Home Infusion Therapy Industry Insights
Chapter 4. Home Infusion Therapy Market, By Product
Chapter 5. Home Infusion Therapy Market, By Application
Chapter 6. Home Infusion Therapy Market, By Region
Chapter 7. Company Profiles
U.S. Home Infusion Therapy Market Report 2018- 2024
U.S. Home Infusion Therapy Market will exceed USD 13.5 billion by 2024; as per 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.
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