Persistence Market Research states that the global home infusion therapy market is poised to expand at a CAGR of over 10% between 2020 and 2030.
The home infusion therapy market is driven by call for being treated at home in comparison with healthcare facilities or hospitals due to being proved cost-effective as well as more convenient time and again. Plus, the present-day technological advancements are pretty conducive to home infusion therapy. The geriatric population across developed countries is also rising at an alarming rate.
Going Deeper Into the Home Infusion Therapy Market?
It is a known fact that hoards of conditions like cancer and cardiovascular ailments need long-term treatment. This asks for proper home infusion therapy devices, which are being made available with minimum efforts on the part of healthcare professionals. This is another factor driving the home infusion therapy market.
Home infusion therapy has another advantage that glucose, phospholipids, and glutamine could be administered along with it. Plus, we have home infusion therapy devices like smart pumps that do render precise infusion. This proves to be advantageous for chemotherapy as one of the home infusion therapy services.
The WHO states that close to 18.1 Mn new-fangled cases of cancer were reported in the year 2018. It also states that more than 60% of the overall patients are reported to be alive within 2 years of diagnosis. This could be credited to time to time chemotherapy. With an increasing adoption of home infusion therapy all across, the longevity is expected to increase going forward.
The outbreak of Covid-19 has prompted the use of elastomeric infusion pumps. Being single-use, cross-contamination is avoided. The elastomeric balloons are filled with positive pressure, which, in turn, gives the desired pumping effect. The flow restrictor regulates flow rate. The infusion line contains this restrictor. This reduces the burden of programming on home infusion nurse. The nurse could concentrate on the other aspects like the diet to be administered.
What’s with the NHIA?
The NHIA (National Home Infusion Association), to propagate home infusion therapy, has launched FNHIA (a Fellow Program). This program is meant for advancing home and specialty infusion industry profession through leadership, excellence, and practice. Programs like these are expected to help home infusion therapy market come of age.
What do the Regions Foretell?
The home infusion therapy market consists of North America (Canada, US), Eastern Europe (Russia and Poland), Western Europe (Luxembourg, The Netherlands, Belgium, Nordic countries, Italy, Spain, France, UK, Germany), Asia-Pacific (New Zealand, Australia, ASEAN, Japan, India, China), MEA (North Africa, Southern Africa, GCC), and Latin America (Chile, Peru, Brazil, Mexico, and others).
North America holds the largest market share and the status quo is expected to remain unchanged between 2020 and 2030. The shift to home care settings (from acute care) due to improved mobility of patients and low cost could bear testimony to this growth. Europe comes in second along the similar lines.
The Asia-Pacific is expected to witness a CAGR of over 7% between 2020 and 2030. This could be reasoned with growing awareness regarding advantages of home infusion therapy services along with the fact that the region houses almost 70% of diabetic population.
Top 10 Home Infusion Companies
The top 10 home infusion companies include Fresenius Kabi, Terumo Corporation, Smiths Medical, ICU Medical, CareFusion Corporation, Caesarea Medical Electronics, Baxter, B. Braun Melsungen AG.
New product launches are being emphasized on. For instance – B. Braun has come up with Easypump – which is a home infusion therapy app that helps patients to have the medication safely administered by making way for instructions on the ways to use and manage the pump.
This Persistence Market Research (PMR) report features the ‘Global Home Infusion Therapy Devices Market’ for the period 2017–2025. The report objective is to offer updates on the ongoing market trends and information regarding market opportunities in the global Home Infusion Therapy Devices market. Persistence Market Research (PMR) analyzes the global Home Infusion Therapy Devices market for the forecast period 2017–2025. The report details the various product types, applications and end users and offers comprehensive insights on the competitive landscape in the Home Infusion Therapy Devices market.
The Home Infusion Therapy Devices market is segmented as follows:
This report uncovers the global home infusion therapy devices market performance concerning revenue contribution from various segments. This section also comprises PMR’s analysis of key trends, drivers, challenges, and opportunities, which are influencing the growth of the global home infusion therapy devices market. Impact analysis of the key growth drivers and restraints are included in this report to provide clients with decision-making insights.
The home infusion therapy devices market report provides an overview of the disposable elastomeric pumps, insulin pumps, PCA pumps, electronic ambulatory pumps and infusion system pumps accessories. This section also underlines factors influencing the growth of the Home Infusion Therapy Devices market along with detailing of the key trends, drivers, challenges, and opportunities. Impact analysis of the trends is included in the report to provide clients with information and insights. Distinguishing features of the report include a list of major vendors, manufacturing workstations, drivers, and restraints regional impact analysis, and competitive dashboard. Furthermore, PMR provides a competitive landscape of the companies and their strategic developments.
The next section of the research report analyzes the market based on product type and presents the forecast in terms of value for the next eight years. Product Types covered in the report include:
The next section of the research report analyzes the market based on application and presents the forecast in terms of value for the next eight years. Applications covered in the report include:
The next section of the research report analyzes the market based on end user and presents the forecast in terms of value for the next eight years. End Users covered in the report include:
The report focuses on the growth trends of the home infusion therapy devices market by region namely, North America, Latin America, Europe, Asia-Pacific, Middle East & Africa. It provides an outlook for 2017–2025 and sets the forecast for the home infusion therapy devices market. The report discusses regional trends contributing to the growth of the home infusion therapy devices market worldwide, as well as analyses the extent to which drivers are influencing this market in each region. Regions covered in the report include:
Also, we have considered the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global home infusion therapy devices market. An analysis of absolute dollar opportunity and incremental opportunity is conducted for primary market segments. Absolute dollar opportunity is usually overlooked while forecasting the market. However, it is the most critical factor for analyzing the level of opportunities that a manufacturer can look to achieve, as well as to identify potential resources from a sales and delivery perspective. In the final section of the home infusion therapy devices market report, a ‘Competitive Landscape' section is included to provide a detailed analysis with a dashboard view of key competitor firms. Detailed profiles of major manufacturing companies is included with company-specific long-term and short-term strategies. Company profiles include their product offerings and recent developments in the home infusion therapy devices market.