Global Home Infusion Therapy Market is expected to grow at a CAGR of 7.1% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Home Infusion Therapy Market by Product (Intravenous Sets, IV Cannulas, Infusion Pumps, Needleless Connectors), Application (Parenteral Nutrition, Enteral Nutrition, Chemotherapy, Hydration Therapy, Specialty Pharmaceuticals, Endocrinology, Anti-Infective, Others), Regions, and Global Forecast 2020-2027.
The global home infusion therapy market is expected to grow from USD 25.2 billion in 2019 to USD 43.62 billion by 2027, at a CAGR of 7.1% during the forecast period 2020-2027. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period from 2020-2027. This growth is due to factors like the rising prevalence of diabetes, growing patient awareness about the benefits of home infusion therapy as compared to in-hospital procedures and the booming prevalence of chronic diseases. On the other hand, the North America region accounted for the major market share of 48.7% in the year 2019 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as growing preference of home care settings because of low cost, enhanced patient mobility, introduction of alternate healthcare settings & home infusion services, growing need for long-term therapy, increasing adoption of new infusion pump technology, rising R&D activities in the region, advanced healthcare infrastructure, and the presence of key industry players.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the global home infusion therapy market are B. Braun Melsungen AG, JMS Co. Ltd., Baxter, Smiths Medical, Caesarea Medical Electronics, Fresenius Kabi, Eli Lilly and Company, CareFusion Corporation, Terumo Corporation, and ICU Medical, Inc., among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global home infusion therapy market.
The product segment includes intravenous sets, IV cannulas, infusion pumps, and needleless connectors. The needleless connectors segment is anticipated to register the highest growth over the forecast period owing to factors like smoother surgeries, better safety, and helps adhere to good clinical practices (GCP). The application segment parenteral nutrition, enteral nutrition, chemotherapy, hydration therapy, specialty pharmaceuticals, endocrinology, anti-infective, and others. Anti-infective segment dominated the market and valued at USD 3.7 billion in the year 2019. The large share of this segment can be attributed to the large number of operations performed for the administration of antibiotic & antifungal drugs. It also reduces the risk of exposure to other hospital-acquired infections.
About the report:
The global home infusion therapy market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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