Global Home Infusion Therapy Market Size is expanding with a CAGR of 8.43% during 2021-2027:
Patients have shifted from conventional treatments to specialty infusion therapy treatments such as home infusion therapy over the years. Furthermore, the home infusion therapy industry is adept at meeting the most complex patient requirements. The demand for home infusion therapy devices will increase in the coming years as the application spectrum of infusion devices expands, along with the growing demand for infusion devices in the home care market.
Furthermore, an aging population, a higher prevalence of chronic diseases, and the novelty of such therapeutic devices contribute to the overall market's growth. In contrast, associated risks during medication administration, irregularities in infusion device operation, incorrect use of infusion devices, and complex reimbursement policies may stifle market growth.
Covid-19 Pandemic Boosted the Home Infusion Market Across the World:
The Covid-19 pandemic had a favourable consequence on the home infusion market because the technique of home infusion was in high demand as healthcare facilities were overburdened with increasing numbers of Covid patients. Regional and national lockdowns significantly impacted operations and supply chains, yet the market grew substantially in 2020. As per the analysis, Global Home Infusion Therapy Market was US$ 27.97 Billion in 2021.
Product Insights Across Home Infusion Therapy Market Worldwide:
By product, the home infusion therapy market is divided into four categories: infusion pumps, intravenous sets, IV cannulas, and needleless connectors. According to the analysis, the infusion pumps segment will have significant market because these pumps are widely used for the delivery of nutrients and medications. The availability of a wide range of products, including enteral, syringe, multichannel, and peristaltic pumps, contributes to segment growth. The rising market for syringes and ambulatory pumps as people prefer home healthcare is also anticipated to contribute to segment growth. Moreover, smart pumps are now widely used because they include advanced features such as barcode technology, which aids in the verification of a patient's identity and prevents drug administration errors.
The Anti-Infective Dominates the Worldwide Home Infusion Therapy Market
In this report, Anti-infective, Hydration Therapy, Chemotherapy, Enteral Nutrition, Parenteral Nutrition, and Specialty Pharmaceuticals are the application segments of the market. According to the analysis, the anti-infective market dominates the global home infusion therapy market, owing to the large number of procedures performed to administer antifungal and antibiotic drugs. It also helps to reduce patient exposure to other hospital-acquired infections (HAIs).
Similarly, chemotherapy is expected to be one of the fastest-growing segments over the forecast period, owing to rising cancer incidences. Home chemotherapy pumps are compact and continuous pressure pumps that do not require a battery and can thus be used for a more extended period. Chemotherapy drugs can be dispensed at the appropriate infusion rate and amount with the help of these pumps. As a result, the demand for pressure pumps is expected to grow in the coming years.
Regional Realms of Global Home Infusion Therapy Market:
According to the analysis, North America will dominate the market in the forecast period. Primarily, due to the regions increased R&D and rising adoption of new technology in infusion pumps. The regional market is being driven by the increasing need for long-term therapy for patients with certain conditions. Furthermore, the development of alternative healthcare settings and home infusion services and the shift in appreciation from acute care to home care backdrops due to subordinate costs and increased patient mobility will propel the evolution of this market in the coming years.
Over the forecast period, the Asia Pacific market is expected to grow at the fastest rate. This is due to increased patient awareness of the advantages of home infusion therapy over in-hospital procedures and the region's rising diabetes prevalence. The region's growing geriatric population and rise in chronic diseases are expected to fuel market growth even further. According to the Times of India, as of January 7, 2021, approximately 75 million people over 60 in India suffer from a chronic condition, which may increase the country's adoption of home care services.
Key Companies:
We have studied the key players in this report, which include Johnson & Johnson Services, Inc., Pfizer Inc., Eli Lilly, Becton, Dickinson and Company, Baxter International Inc., Smith & Nephew plc, Terumo Corporation, and ICU Medical. The global market has been marked by fierce competition. The prompt adoptions of advanced healthcare technology for enhanced healthcare services are vital for market players' competitiveness. Furthermore, significant players frequently use mergers, acquisitions, and new product launches to maintain market share and diversify their product portfolio.
The publisher's latest report Home Infusion Therapy Market, Global Forecast By Product (Infusion Pump, Intravenous Sets, IV Cannulas and Needleless Connectors), Application (Anti-infective, Hydration Therapy, Chemotherapy, Enteral Nutrition, Parenteral Nutrition, Specialty Pharmaceuticals and Others) Region (North America, Europe, Asia Pacific, Latin America and Middle East and America), Companies (Johnson & Johnson Services, Inc., Pfizer Inc., Eli Lilly, Becton, Dickinson and Company, Baxter International Inc., Smith & Nephew plc, Terumo Corporation, and ICU Medical)” provides a detailed analysis of Global Home Infusion Therapy Industry.
Product -the Market has been covered from 4 viewpoints:
1. Infusion Pump
2. Intravenous Sets
3. IV Cannulas
4. Needleless Connectors
Application - the Market has been covered from 7 viewpoints:
1. Anti-infective
2. Hydration Therapy
3. Chemotherapy
4. Enteral Nutrition
5. Parenteral Nutrition
6. Specialty Pharmaceuticals
7. Others
Region - the Market has been covered from 5 viewpoints:
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East and America
Key Players Insight:
- Overview
- Recent Development
- Revenue
Key Players:
1. Johnson & Johnson Services, Inc.
2. Pfizer Inc.
3. Eli Lilly
4. Becton, Dickinson and Company
5. Baxter International Inc.
6. Smith & Nephew plc
7. Terumo Corporation
8. ICU Medical
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Report Attribute | Details |
---|---|
No. of Pages | 130 |
Published | April 2022 |
Forecast Period | 2021 - 2027 |
Estimated Market Value ( USD | $ 27.97 Billion |
Forecasted Market Value ( USD | $ 45.46 Billion |
Compound Annual Growth Rate | 8.4% |
Regions Covered | Global |
No. of Companies Mentioned | 8 |
Table of Contents
Companies Mentioned
- Johnson & Johnson Services, Inc.
- Pfizer Inc.
- Eli Lilly
- Becton, Dickinson and Company
- Baxter International Inc.
- Smith & Nephew plc
- Terumo Corporation
- ICU Medical
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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