Mar 12, 2020: The global Home Infusion Therapy market size is expected to reach USD 41.6 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 7.3% over the forecast period. Increasing incidences of hospital-acquired infections are some of the major factors contributing to the market growth. Home infusion therapy is considered an alternative to an extended stay in hospitals or nursing homes for patients suffering from chronic diseases. With the administration of medications in home settings, patients recover faster when compared to the hospital and are more comfortable at home.
Several government and non-government programs are carried out in order to spread awareness among people regarding home infusion therapy. In October 2019, the Centers for Medicare & Medicaid Services issued a rule stating that all home infusion therapy payments will get covered under the Bipartisan Budget Act of 2018. In addition, favorable government policies and regulations are expected to propel the market growth. In February 2018, the Bipartisan Budget Act of 2018 was signed into a law which states that all temporary payments of home infusion therapy in U.S. will be covered by the government in accordance with this regulation.
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In addition, the rising prevalence of chronic diseases, such as cardiovascular diseases (CVDs), cancer, diabetes, and other life-threatening conditions, is expected to have a high impact on market growth. According to a WHO report, the above-mentioned diseases accounted for 60.0% of the total deaths and 43.0% of the disease burden in U.S. in 2019. This creates the need to infuse nutritional products that contain glutamine, phospholipids, glucose, and amino acids while administering medication to patients, which, in turn, is expected to boost the market growth in this region.
Technological developments in home infusion therapy devices are also anticipated to make therapy more convenient and user-friendly for patients. For instance, in April 2017, B. Braun launched Easypump home infusion therapy app for both patients and the physician. This app will help patients to safely administer the medicine as per the requirements.
Further key findings from the report suggest:
- Infusion pumps emerged as the largest product segment in 2019 owing to increasing use of delivery fluids such as nutrients and medications
- The needleless connectors segment is projected to register the highest CAGR over the forecast period as they offer advantages such as improved safety
- The anti-infective segment dominated the home infusion therapy market in 2019, as a large number of procedures are performed during the administration of medication such as antibiotics and antifungals
- North America dominated the global market in 2019. With the increasing demand for new technologies, along with advanced healthcare infrastructure, North America is expected to continue to dominate the market through the forecast period
- The Asia Pacific market is projected to witness the fastest growth over the forecast period owing to the increasing number of diabetic patients in the region
- Key market players include B. Braun Melsungen AG; Baxter; Caesarea Medical Electronics; CareFusion Corporation; Fresenius Kabi; ICU Medical, Inc.; JMS Co. Ltd.; Smiths Medical, Inc.; and Terumo Corporation.
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Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Product
1.1.2. Application
1.1.3. Regional scope
1.1.4. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.4. Information or Data Analysis
1.4.1. Data analysis models
1.5. Market Formulation & Validation
1.6. Model Details
1.6.1. Commodity flow analysis (Model 1)
1.6.1.1. Approach 1: Commodity flow approach
1.6.2. Volume price analysis (Model 2)
1.6.2.1. Approach 2: Volume price analysis
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
1.9.1. Objective 1: Understanding the market dynamics
1.9.2. Objective 2: Understanding the market estimates and forecasts
1.9.3. Objective 3: Understanding the attributes such as strategy framework, competitor categorization
1.9.4. Objective 4: Understanding the key product and application scopes to conclude on the market size
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Home Infusion Therapy Market Variables, Trends & Scope
3.1. Market Lineage outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Product Pipeline Analysis, by Application
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.1.1. Increasing geriatric population
Continued………..
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