US Home Infusion Therapy Market 2020 Growth Opportunities, Top Key Players, Revenue, Emerging Trends And Business Strategy Till 2026
Pune, Maharashtra, India, January 11 2021 (Wiredrelease) Brandessence Market Research and Consulting Pvt ltd –:Global Home Infusion Therapy Market is valued at USD 24.21 Billion in 2019 and expected to reach USD 38.03 Billion by 2026 with the CAGR of 7.82% over the forecast period.
Increasing number of diagnosis of chronic diseases, neurological disorders and rising healthcare expenditure are the major factors expected to drive the growth of Global Home Infusion Therapy Market over forecast period.
Scope of Global Home Infusion Therapy Market Report–
Home infusion therapy involves the intravenous or subcutaneous administration of drugs or biological to an individual at home. The components needed to perform home infusion include the drug antiviral, immune globulin, equipment for a pump, and supplies. Similarly, nursing services are necessary to train and educate the patient and caregivers on the safe administration of infusion drugs often play an important role in home infusion. Hence, the nurses usually train the patient or caregiver to self-administer the drug, educate on side effects and goals of therapy and visit periodically to assess the infusion site and provide dressing changes. The home infusion process usually requires coordination among multiple entities, including patients, physicians, hospital discharge planners, health plans, home infusion pharmacies, and, if applicable, home health agencies. The medical condition requiring infusion therapy includes infections and disease which may not be responsive to oral antibiotics such as, cancer and cancer-related drugs, dehydration, and gastrointestinal diseases or disorders.
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Still, the home infusion therapy is a comprehensive service that provides safe and effective administration of parenteral prescription medications and biologics in a patient’s home or other alternate sites. The home infusion therapy is considered advantageous for patients as they get the entire treatment at the comfort of their home. Furthermore, the home infusion therapy is a cost effective alternative to placement in hospital, and allows patients to adhere to their normal lifestyle while receiving treatment. These rising incidences of hospital acquired infections have a great impact on this market. Additionally, the healthcare spending associated with these infections is expected to encourage patients to prefer home care over the conventional settings. The use of infusion therapy may help to provide essential nutrients into the body circulation, bypassing the gastrointestinal tract, so that one can benefit from their full function in addressing their disease.
Global Home Infusion Therapy Market report is segmented on the basis of product type, application, and by regional & country level. Based on product type, global home infusion therapy market is classified as the infusion pumps, intravenous sets, IV cannulas, needleless connectors and vein imaging devices. Based upon application, global home infusion therapy is classified into anti-infective, hydration therapy, chemotherapy, enteral nutrition, parenteral nutrition and others.
The regions covered in this home infusion therapy market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of home infusion therapy is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Home Infusion Therapy Companies:
Some major key players for Global Home Infusion Therapy Drug Market are,
Braun Melsungen AG Fresenius Kabi AG Baxter Care Fusion Corporation Hospira, Inc. AccuVein Vuetek Scientific Vein View Flex IV-EYE Veinlite Aetna Evena Carecentrix Axela Care Tricare Others
Global Home Infusion Therapy Market Dynamics–
The rapidly increasing geriatric population, fast technological developments, growing adoption of home infusion therapies and supportive government policies and regulations are expected to foster market growth. Hence, the rising incidence of chronic disorders has led to an augmentation in the demand for infusion therapy in outpatient settings, thereby boosting the home infusion therapy market. According to the World Health Organization (WHO) in 2050, estimated that the chronic diseases rapid population ageing is occurring worldwide, the total number of people aged 70 years or more is expected to increase from 269 million in 2000 to 1 billion high income countries will see their elderly population defined as people 70 years of age increase from 93 million to 217 million over this period, while in low and middle income countries the increase will be 174 million to 813 million. Furthermore, growing demand for reduction in in-patient length of hospital stays has led to the development of strategies to administer infusion therapy at home or in alternate healthcare settings, thereby boosting the growth of the home infusion therapy market. Heightened emphasis on cost-containment in healthcare has led to more inclination towards home infusion therapies by patients requiring long-term care.
However, the risk associated with the dose administration, lack of quality workforce, improper use of infusion devices and fewer reimbursement policies in underdeveloped countries may hamper the growth of the market. In spite of that, technological advancements in medical devices and robust pipeline of infusible drugs can present rewarding opportunities in the market in near future.
Global Home Infusion Therapy Market Regional Analysis –
North America is expected to dominate the global home infusion therapy market due to the increasing aging population and growing adoption home healthcare devices in this region. In addition, growing healthcare expenditure and increasing incidences of chronic diseases such as cancer, diabetes, immune deficiencies as a result of unhealthy lifestyle and lengthening the lifespan of the senior population and are also fostering the growth in this region. According to the World Health Organization (WHO) 2015 in U.S, estimated the chronic diseases about 41 million people will die, the number of deaths from chronic diseases will increase by 17% between 2005 and 2015, from 35 million to 41 million, the Cardiovascular diseases will remain the single leading cause of death, with an estimated 20 million people dying, mainly from heart disease and stroke.
The Asia Pacific is expected to emerge as a high growth market over the forecast period owing to the incidence of large unmet needs in the emerging economies such as China and India and growing awareness levels regarding the profit of home infusion therapies over the in-hospital infusion therapies in this region. In addition rising disposable income and growing number of home infusion therapy providers are also fostering the market growth in this region. According to the World Health Organization (WHO); in 2025, in China aging population of chronic diseases as quickly as Japan, there will be 290 million Chinese aged 60 compared to 175 million, accounting for approximately 20% of the Chinese population, many will be suffering from cancer, dementia, diabetes and/or cardiovascular disease.
Global Home Infusion Therapy Market Segmentation:–
By Product Type: Infusion Pumps, Intravenous Sets, IV Cannulas, Needleless Connectors, Vein Imaging Devices
By Application: Anti-infective, Hydration Therapy, Chemotherapy, Enteral Nutrition, Parenteral Nutrition, Others
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