Home Infusion Therapy Market Insights, Industry Analysis & Research Report by 2024
Date: 2018-08-31   Author: Rahul Sankrityayan  Category: #industry

Home Infusion Therapy Market Insights, Industry Analysis & Research Report by 2024

Home Infusion Therapy Market was valued at USD 14 Billion in 2016 and is anticipated to witness 9% CAGR growth from 2017 to 2024.

Home infusion therapy market will witness a remarkable growth due to growing prevalence of chronic diseases including obesity, diabetes, cardiovascular diseases, cancer, osteoporosis and dental diseases across the globe. As per WHO, by 2020, three-quarters of all the deaths across the globe will be due to chronic diseases and the proportion of chronic diseases is anticipated to rise to 57% leading to increase in demand for home infusion therapies.

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Increasing number of geriatric population suffering from chronic disorders will increase the demand for home infusion therapies. According to WHO, from 2015 and 2050, the percentage of the world’s population aged over 60 years will almost double, from 12% to 22%. Advantages associated with home infusion therapy such as safety, reduced hospital stays, reduced risk of hospital-acquired infections, better outcomes and cost savings as compared to hospitals will further propel the segment growth.

Lack of reimbursement policies and stringent regulations will hamper the market growth. Risks associated with administration of medicine, inconsistent performance of infusion devices and misguided utilization of infusion devices will further restrain the growth opportunities of the market.

Infusion pumps are projected to witness a robust growth in the forecast timeframe. Infusion pumps provides high accuracy, control, and precision in drug delivery, thereby reducing medication errors and contributing to improvements in patient care. Technological advancements such as non-magnetic intravenous infusion pumps, wireless infusion pumps, smart pumps, customized infusion pumps & disposables, insulin patch pumps for diabetes insulin management, combinational pumps and microinfusion pumps are anticipated to propel the segment growth.

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Anti-infectives segment will contribute largely to the home infusion therapy market owing to the increasing prevalence of infectious diseases such as chronic hepatitis B, tuberculosis. As per CDC, in the U.S., approximately 700,000 to 1.4 million people suffer from chronic hepatitis B infections. Benefits of anti-infective administration at home are cost savings, decreased length of stay, decreased exposure to often resistant nosocomial infections and increased patient satisfaction for many infusion patients.

U.S. home infusion therapy market contributed a considerable revenue share in 2016 and is projected to witness a lucrative growth owing to increasing number of chronic disorders and with rising geriatric population. Rising technological advancement associated with devices, increasing incidence of infectious diseases, growing awareness regarding home care advantages, reduced costs over hospitals and availability of advanced healthcare facilities will stimulate the regional growth.

Some of the key industry players are CareFusion, B. Braun, Baxter, Fresenius Kabi, Smiths Medical, Abbott Laboratories, Bristol-Myers Squibb, Eli Lilly and Abbott Laboratories. The strategic initiatives adopted by these companies are technologically advanced product launches, acquisitions, geographical expansion and collaborations. In 2017, B. Braun Launched Easypump Home Infusion Therapy app for patients and healthcare professionals.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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