REPORT HIGHLIGHT
Home infusion therapy market was valued at USD 24.2 billion by 2019, growing with 7.6% CAGR during the forecast period, 2020-2026
Market Dynamics
The increasing prevalence of hospital-acquired infections, growing geriatric population, and rise in preference for home care are the major factors driving the growth of the global home infusion therapy market. As per ECDC (European Center for Disease Prevention & Control) statistics, around 4.5 million people were caught with nosocomial infection all across the globe in 2017. The home infusion therapy substantially reduces the contact of patients to infectious organisms by reducing the spread of nosocomial diseases through the patients.
In addition, home infusion therapy is cost-effective which is expected to propel the market growth. Moreover, the launch of novel products and rapid technological advancements are likely to create lucrative opportunities in the global industry during the forecast period. However, the risks related to the irregular working of infusion devices and lack of reimbursement in emerging countries are expected to hinder the market growth in the coming future.
Product Takeaway
The infusion pumps segment held the largest market share in 2019 and is anticipated to generate a robust revenue during the forecast period. This is mainly attributed to the growing preference of these pumps for delivering medications and nutrients. In addition, these products are available in various varieties such as peristaltic pumps, multichannel, syringe, and enteral. The increasing demand for ambulatory pumps and syringes will further impel the market growth in the projected timeframe.
On the other hand, the needleless connectors product type segment is estimated to expand at the highest growth rate during the projected period. This rapid growth is mainly because these connectors help adhere to Good Clinical Practice (GCP), enable smooth surgeries, and offer improved safety.
Application Takeaway
The anti-infective segment is expected to play a dominant role in the home infusion therapy market during the forecast period owing to a large number of procedures performed for the administration of antibiotics and antifungal drugs. In addition, it also helps lessen exposure to patients with other HAIs (Hospital-acquired Infections). The chemotherapy segment is likely to grow at the fastest rate during the forecast period owing to the rising prevalence of cancer all across the globe. As per the World Health Organization (WHO) statistics, around 18.1 million new cases of cancer were all over the world in 2018.
Moreover, the demand for pressure pumps is also estimated to increase in the forecast period due to the rising cases of cancer. The pumps used at home for chemotherapy are compact and continuous pressure pumps that can be used for a longer period, which is also a significant factor expected to boost the market growth throughout the forecast.
Regional Takeaway
North America region subjugated the worldwide home infusion therapy market in 2019 and is expected to continue its dominance in the estimated period. This is majorly due to the growing adoption of new technology and the increasing R&D activities in this region. In addition, the rising need of patients for long-term therapy is propelling the regional market growth.
On the other hand, the Asia Pacific market for home infusion therapy is projected to witness a significant growth rate by the end of 2030 owing to the growing awareness of patients regarding the benefits of home infusion therapy and the growing incidence of diabetes in the region.
Key players of the industry include:
• Baxter International
• CareFusion Corporation
• ICU Medical, Inc.
• Fresenius Kabi
• JMS Co. Ltd.
• Terumo Corporation
• B. Braun Melsungen AG
• Caesarea Medical Electronics
• Smiths Medical
The market size and forecast for each segment and sub-segments has been considered as below:
• Historical Year – 2015 to 2018
• Base Year – 2019
• Estimated Year – 2020
• Projected Year – 2026
TARGET AUDIENCE
? Traders, Distributors, and Suppliers
? Manufacturers
? Government and Regional Agencies
? Research Organizations
? Consultants
? Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL HOME INFUSION THERAPY MARKET, BY PRODUCT
? Infusion Pumps
o Patient Controlled Analgesics (PCA)
o Elastomeric Pumps
o Volumetric Pumps
o Insulin Pumps
o Ambulatory Infusion Pumps
o Syringe Pumps
? IV Cannulas
? Needleless Connectors
? Intravenous Sets
GLOBAL HOME INFUSION THERAPY MARKET, BY APPLICATION
? Parenteral Nutrition
? Enteral Nutrition
? Specialty Pharmaceuticals
? Anti-Infective
? Hydration Therapy
? Endocrinology
? Chemotherapy
? Others
GLOBAL HOME INFUSION THERAPY MARKET, BY REGION
? North America
o The U.S.
o Canada
? Europe
o Germany
o France
o Italy
o Spain
o United Kingdom
o Rest of Europe
? Asia Pacific
o India
o China
o South Korea
o Japan
o Singapore
o Rest of APAC
? Latin America
o Brazil
o Mexico
o Argentina
o Rest of LATAM
? Middle East and Africa
o Saudi Arabia
o United Arab Emirates
o Rest of MEA