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Home Infusion Therapy Devices Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012 to 2016 and Forecast 2017 to 2023
Home Infusion Therapy Devices Market
Market Outline: Home Infusion Therapy Devices Market
Home infusion therapy devices are used to administer drug solutions to treat various diseases that are unresponsive to the oral medication such as gastrointestinal diseases, cancer, and pain. Home infusion therapy devices also preferred in dehydration, diabetes, and cystic fibrosis treatment. Home infusion therapy declines the unplanned hospitalization and also improves the medication adherence. Most commonly used home infusion therapy devices for drug administration include intravenous set, needleless connectors, and infusion pumps among others.
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Market Dynamics: Home Infusion Therapy Devices Market
Increase in the demand for home infusion therapy from patients, high cost for hospitalization treatment, a wide range of applications with infusion devices, and presence of unmet medical needs are anticipated to fuel the home infusion therapy devices market over the forecast period. Moreover, increase in geriatric population, technological developments in home infusion therapy devices, and high prevalence of chronic diseases like diabetes and cancer are expected to boost the home infusion therapy devices market over the forecast period. However, the risk associated with the drug administration, product recalls, unfavorable reimbursement policies and misguidance about the usage of the device are impede the growth of home infusion therapy devices market over the forecast years.
Market Scope: Home Infusion Therapy Devices Market
Home infusion therapy devices market segmented based on device type, pump type, application, and application
Based on the device type, the market is segmented into the following:
• Infusion Pumps
• Needleless Connectors
• Intravenous Sets
• Others
Based on the pump type, the market is segmented into the following:
• Enteral Infusion Pumps
• Insulin Infusion Pumps
• Syringe Infusion Pumps
• Patient-Controlled Analgesia
• Volumetric Infusion Pumps
• Others
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Based on the application, the market segmented into the following:
• Infectious Diseases
• Pain Management
• Nutrition
• Chemotherapy
• Others
Based on the distribution channel, the market segmented into the following:
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
Market Summary: Home Infusion Therapy Devices Market
Due to increase in the prevalence of chronic diseases majorly diabetes and cancer and increase in awareness about the home infusion therapy devices are anticipated to fuel the home infusion therapy devices market over the forecast period. Moreover, technological advancements such as the introduction of smart pumps that enhancing the overall ease of using home infusion devices are expected to drive revenue from home infusion therapy devices market. Furthermore, acquisitions and mergers, collaborations, and product launchings are the key strategies followed by the market players for generating larger revenue in the home infusion therapy devices market. For instance, in March 2016, PromptCare acquired Boston Home Infusion for expanding the product portfolio in Boston area. Similarly, in October 2016, ICU Medical Inc. acquired Hospira Infusion Systems for strengthening its home infusion therapy devices portfolio.
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Regional Analysis: Home Infusion Therapy Devices Market
Geographically, global home infusion therapy devices market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America home infusion therapy devices market growing due to increase in the awareness about home infusion therapy devices among key stakeholders, favorable reimbursement policies, and innovation of novel products are boosting the market. Europe home infusion therapy devices market expected to grow at a significant rate due to acquisitions between the companies for instance, in January 2015, Air Liquide acquired Optical Medical Therapies for expansion of business in German home infusion market. Asia Pacific home infusion therapy devices market expected to hold significant share owing to rise in patient awareness about home infusion therapy devices, adoption of newer devices, an increase in awareness about the advantages of home infusion therapy devices in the region. Latin America home infusion therapy devices market is projected to grow at a significant rate, which is attributed to the expansion of businesses by the market players, increase in the prevalence of cancer, and increase in geriatric population. Middle East and Africa home infusion therapy devices market driven by developing healthcare infrastructure and increase in the prevalence of chronic diseases like AIDS, cancer, and among others.
Competition Assessment: Home Infusion Therapy Devices Market
Some of the market players in the global home infusion therapy devices market include:
• Fresenius Kabi AG (Germany)
• Braun Melsungen AG (Germany)
• ICU Medical, Inc. (U.S.)
• Terumo Corporation (Japan)
• JMS Co. Ltd. (Japan)
• Smiths Medical (U.S.)
• Baxter International Inc. (U.S.)
• Caesarea Medical Electronics Ltd. (Becton, Dickinson and Company) (U.S.)
• Hoffmann-La Roche Ltd. (Switzerland)
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