Reports And Data

Market Size – USD 18.21 Billion in 2020, Market Growth - CAGR of 8.30%, Market Trends – Product launches and research for advanced Home infusion therapy

NEW YORK, NY, UNITED STATES, December 28, 2021 /EINPresswire.com/ -- According to current analysis of Reports and Data, the global Home Infusion Therapy Market was valued at USD 18.21 Billion in 2020 and is expected to reach USD 44.63 Billion by the year 2028, at a CAGR of 8.30%. Infusion therapy involves the administration of drugs intravenously. It is prescribed when a patient’s condition is much severe and cannot be treated effectively by oral medications. Receiving this therapy in homecare settings rather than hospitals is referred to as home infusion therapy. Home infusion therapies are very cost-effective, and technological advancements have facilitated safe and effective administration of infusion therapies at home. The advantage infusion offers is that it helps deliver a precise dose of the drug quickly and efficiently, and in a well-controlled manner throughout the body. It is also used for irritating solutions; those can cause pain and even damage tissues if administered by subcutaneous or intramuscular injection.

Moving care into the home is a very important step of change in healthcare. The approach is patient-centric. Home infusion therapy let patients reduce or even totally avoid outpatient hospital visits, and allows them to resume normal routines and work behaviors while still treating their illness. Home infusion therapy works closely with the patient to ensure that such services are appropriate and in the interest of the best patient care. Moreover, the outcome of home infusion therapy is reliable. Favorable government policies and regulations, increasing geriatric population, rapid technological developments, and increasing adoption of home infusion therapies, are some of the key factors propelling market growth in the industry. High prevalence of chronic diseases such as HIV, cancer, diabetes is further expected to fuel market growth. Home infusion drugs are often not readily available through standard pharmacies and comparatively higher in cost. Most are obtained through hospital pharmacies, licensed home infusion agencies, or mail-order discount drug supply companies that can express deliver the drugs directly to the patient's home. However, increasing risk with patient's safety and occurrence of mistakes while using infusion devices and issues related to reimbursement policies for home infusion therapy are the major hindrance for market growth during the forecast period.

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Top Companies operating in the market and profiled in the report include:

Baxter, B. Braun Melsungen AG, ICU Medical Inc., Fresenius Kabi AG, Terumo Corporation, JMS Co. Ltd., CareFusion Corporation, Smiths Medical and Caesarea Medical Electronics.

The pharmaceutical and healthcare industry has undergone tremendous change over the recent years, especially with the emergence of the COVID-19 pandemic. Increasing accessibility of advanced healthcare systems and low-cost technologies coupled with growing demand for over-the-counter medications has further changed the dynamics of the industry. Integration of robust technologies such as AI and blockchain have helped pharmaceutical companies reduce capital expenditure and strengthen the global supply chain. Increasing application of biosimilars, shifting focus to in-silico testing of pharmaceutical products, and rising number of product approvals from regulatory authorities are some key factors driving revenue growth of the market.

Increasing expenditure on R&D, growing focus on implementing robust cybersecurity solutions to ensure better medical device connectivity, and development of advanced telehealth software by key companies operating in the field has further added traction to the revenue growth of the market. The global Home Infusion Therapy market report discusses the current market scenario with respect to the competitive landscape and offers key insights into the company profiles, product portfolio, production and manufacturing capacity, revenue contribution, and position in the global market. It also provides details on recent mergers & acquisitions, joint ventures, collaboration, and product launches, among others.

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Further key findings from the report suggest

• Home Infusion Therapy is growing at a CAGR of 3% in Asia Pacific followed by North America and Europe, with 7.2 % and 6.9% CAGR, respectively. High incidence of chronic diseases and availability of cost-effective home infusion therapies in developing and developed economies are expected to accelerate the market growth for home infusion therapy during forecast period across all regions

• As of 2018, Anti-infective application segment is expected to dominate Home infusion therapy which holds the market share of 33.9% of the global market. North America region is the chief revenue generating source for this product segment, followed by Europe and Asia-Pacific regions

• Chemotherapy is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 7.7%. It is also the second largest segment in terms of revenue generation after anti-infective segment. For instance, according to the data of cancer organization, by January 1 2030, it is estimated that the population of cancer survivors will increase to more than 22.1 million due to the growth and aging of the population alone

• Infusion pumps segment led the global infusion therapy market with a market share of 34.7% in 2018 and is forecasted to continue its dominance during the forecast period. Extensive application in delivering fluids containing nutrients and medications in controlled dosages is anticipated to fuel market growth

• Needleless connectors segment is anticipated to witness lucrative growth with a CAGR of 7.9% registering fastest growth during the forecast period.

• Key players in the home infusion therapy industry are taking initiatives to educate and promote home infusion therapy among the patients by providing educational tools and apps that can be utilized for infusion therapies. For instance, in October 2018, Baxter International Inc. in collaboration with American Society for Parenteral and Enteral Nutrition (ASPEN) launched SmartPN tool to help reduce clinical malnutrition.

• Asia Pacific is expected to account for the 21.1% of the global Home Infusion Therapy. Developing nations such China, and India are likely to witness high growth

• North America region accounts for the largest market share of 37.6% followed by Europe

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For the purpose of this report, Reports and Data has segmented the Home Infusion Therapy on the basis of product, application, and region:

Product (Revenue, USD Million; 2018–2028)

• Infusion pumps
• Intravenous sets
• IV Cannulas
• Needleless connectors

Application (Revenue, USD Million; 2018–2028)

• Anti- infective
• Endocrinology
• Hydration therapy
• Chemotherapy
• Enteral nutrition
• Parenteral nutrition
• Special pharmaceuticals

The report provides a comprehensive analysis of the market scope, supply chains, distribution channels, trends and demands in each region, revenue generation, market size, and presence of prominent companies in each region. It studies the revenue growth of the market in each region and their key countries based on several factor such as macro- and micro-economic growth factors, regulatory framework and policies, investment and funding opportunities, R&D and technological advancements, and growth prospects.

Key Regions Assessed in the Report:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Germany, Italy, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The report further segments the global Home Infusion Therapy market on the basis of product types and applications and offers details about key factors that are expected to drive revenue growth of each segment and sub-segment.

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