Market: Key Market Dynamics
Infusion therapy has become a popular pain relieve treatment method, especially for diseases where oral medication is least effective. In cases of gastrointestinal diseases, diabetes and cancer-related pain infusion therapy is common. Moreover, infusion therapy is equally effective in treating disorders such as cystic fibrosis and chronic dehydration. Home infusion therapy cuts on frequent hospital visits and improves medicine adherence. Some of the commonly used infusion devices for administration of medications include needleless connectors, infusion pump, and intravenous set. In 2014, the global home infusion therapy devices market was valued at US$ 15,905.1 Million. The market is estimated to surpass to US$ 26,747 Million by 2020, expanding at 9% CAGR over 2014-2020.
Home infusion therapy devices are efficiently putting up with intricate patient requirements, which in turn is reflecting on the growth of the overall market. Patients are switching from conventional treatments to specialty infusion therapy treatments such as the home infusion therapy. The National Infusion Association stated that hospitalization treatment is more expensive compared to home infusion therapy.
PMR indicates that the demand for home infusion therapy devices will gain traction in the near future due to widening application spectrum of infusion devices coupled with growing demand for infusion devices in home care market. Moreover, increasing geriatric population, higher prevalence of prolonged diseases and novelty in such therapeutic devices are additional factors supplementing the growth of the overall market. In contrast, associated risks during administration of medication, irregularity in functioning of infusion devices, misguided use of infusion devices and complex reimbursement policies may inhibit the market growth.
The global home infusion therapy devices market has been categorized on the basis of device type, infusion pump type, by application, by type of disease and by region.
Based on device type, the market is segmented into intravenous set, infusion pump and needleless connector. The needleless connectors segment is expected to witness the highest growth over forecast period. On the basis of infusion pump type, the market is segmented into syringe infusion pump, ambulatory infusion pump, implantable infusion pump, insulin infusion pump, enteral infusion pump, volumetric infusion pump and patient-controlled analgesia (PCA) infusion pump. By application, the market is segmented into chemotherapy, anti-infective/antibiotics, enteral nutrition, pain management, total parenteral nutrition (TPN) and hydration infusion pump. Based on disease type, the market is segmented into cancer and diabetes.
On the basis of region, the global home infusion therapy devices market is segmented into four key regions namely North America, Asia, Europe and rest of the world (RoW). North America dominates the global market for infusion therapy devices, which is attributed to the growing demand for infusion therapies in the region. In addition, factors such as growing geriatric population and higher incidences of cancer, AIDs and diabetes are further influencing the demand for infusion therapy devices in North America. In Europe, demand for home infusion therapy devices is driven by the growing acceptance for non-hospital procedures and the large base of geriatric consumers who require infusion therapies at frequent basis. Further, the market in Asia is anticipated to grow at the fastest rate during the forecast period.
Key Market Participants
Key market participants identified in the global home infusion therapy devices market include B. Braun Melsungen AG, Hospira, Inc., CareFusion Corporation, ICU Medical, Inc., Caesarea Medical Electronics Ltd., Baxter International Inc., and JMS Co. Ltd. Most of the companies are focusing on product innovations and acquisitions, mergers and partnerships in order to strategically improve their market position.
Persistence Market Research (PMR) provides key insights on the global home infusion therapy devices market over the forecast period (2014-2020). The primary objective of the report is to provide in-depth analysis and future market estimations, including growth drivers, restraints, opportunities, trends, key segments, status of the regional markets and key market players operating in the global home infusion therapy devices market. Along with the provision of quality insights, quantification of data has been considered through discussions with, health experts, marketing managers and clinicians.
To understand and assess opportunities in the global market, the report is categorically split into five sections in terms of market value (US$ Mn), namely market analysis by type of device, by infusion pump, by application, by type of disease and by regions. The report further provides comprehensive data on global market estimations, competitive landscape and forecast values. The aforementioned segments have been analyzed in terms of Basis Point (BPS) to understand each segment’s relative contribution to the overall market growth.
The geographical analysis studies the market on the basis of the regional opportunities and estimates the market value for each region during the forecast period. The report also considers a year-on-year growth based on regional market analysis, in order to identify right opportunities in each of the regions and to understand predictability of the market.
The last part of the report provides an exhaustive analysis on the global competitive landscape including leading market participants and a dashboard view. Market strategies of prominent players and their key developments are also included in the report.
To deduce the global home infusion therapy devices market, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by type of device, by infusion pump, by application, by type of disease, and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global home infusion therapy devices market.
The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on the supply side and demand side drivers and other key dynamics of the global home infusion therapy devices market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.
Another key feature of this report is an analysis of the global home infusion therapy devices market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global home infusion therapy devices market. Further, to understand key segments in terms of their growth and overall global home infusion therapy devices market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global home infusion therapy devices market.
Some of the major players in the home infusion therapy devices market:
These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.