Home Infusion Therapy Market to grow at 9.0% CAGR from 2016 to 2023

Home Infusion Therapy Market size is driven by growing geriatric population and increasing incidence of chronic diseases will be the primary factors propelling the industry over the coming years. Increasing preferences for home-based therapies and medication coupled with the favorable reimbursement policies will further enhance the global industry outlook significantly. According to Global Market Insights, Inc., “Home Infusion Therapy Market size is anticipated to grow at a CAGR of 9% over the period of 2016-2023.”

Prolonged stays in the hospitals may result into rising prevalence of nosocomial infections caused by bacteria, virus, and fungal pathogens. Rising consciousness towards these infections will favor the home infusion therapy industry in the coming six years. The home infusion therapy industry size is estimated to surpass USD 26 billion by 2023. Furthermore, new advancements in the infusion pumps will generate attractive growth avenues in the home infusion therapy market. For instance, the introduction of smart pumps and Wi-Fi enabled pumps have escalated the demand for the home infusion therapy services.

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Some of the prominent application areas of the home infusion therapy industry include Anti-infective, Parenteral Nutrition, Specialty Pharmaceuticals, Hydration Therapy, Chemotherapy, and Enteral Nutrition. The anti-infective application in the home infusion therapy market is projected to exceed USD 7 billion by 2023, owing to growing geriatric population and rising occurrence of transferable & infectious diseases. Enteral nutrition is another lucrative application in the home infusion therapy market, which is anticipated to grow at an annual rate of 9% over the period of 2016-2023. The industry growth is subject to the growing incidence of chronic disease including diabetes, cancer, and gastrointestinal infections. Moreover, growth in disposable income and increasing demand for home-based therapy will fuel the industry outlook.

Browse key industry insights from the report, “Home Infusion Therapy Market Size By Product [Infusion Pump, Intravenous Sets, IV Cannulas, Needleless Connectors], By Application [Anti-infective, Hydration Therapy, Chemotherapy, Enteral Nutrition, Parenteral Nutrition, Specialty Pharmaceuticals] Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, Japan, Brazil, Mexico, South Africa), Application Potential, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/home-infusion-therapy-market-report

Considering the product segmentation of the home infusion therapy market, infusion pumps accounted for more than 50% of the overall industry share. Need for high precision and new technological advents with feature including alarms, barcode technology, etc. will majorly drive the infusion pumps market. Apart from this, needleless connectors market is another profitable product segment, which is projected to register a CAGR of 9.5% over the period of 2016-2023. Rising concerns over needle stick injuries and increasing demand for safety will spur the industry growth. Needleless connectors are the fastest growing product segment anticipated to surpass USD 7.9 billion by 2023.

Geographically, U.S. home infusion therapy market led the industry by accounting for 90% of the regional revenue in 2015. Favorable government policies and access to care facilities in healthcare will augment the industry growth. The U.S. home infusion therapy industry is anticipated to surpass USD 10 billion by 2023. Europe home infusion therapy market will continue to be the second largest regional industry, driven by the promising reimbursement schemes and adoption of home care services.

Mergers and acquisitions, new product development and strategic alliances with healthcare institutes are the major growth strategies implemented by the market players. Notable industry participants include Baxter, CareFusion Corporation, Smiths Medical, Terumo Corporation, B. Braun Melsungen, ICU Medical, and Fresenius Kabi.

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