Call for safer and more conducive treatment to drive the Home Infusion Therapy Devices Market

Date : May 28, 2021 Author : PMR Editorial Staff Category : Healthcare

Home infusion therapy devices market will witness a CAGR of close to 8% in the next 10 years – Persistence market Research (PMR)

Home Infusion Therapy Devices Market Overview

Home infusion therapy devices, as the name suggests, deliver medications via a catheter or needle into a vein outside clinical or hospital setting. This is the answer to “How does home infusion work?” The ever-increasing awareness regarding affability of home infusion therapy devices followed by growing geriatric population is driving the in home infusion therapy devices market.

Home infusion therapy devices market will witness a CAGR of close to 8% in the next 10 years – Persistence market Research (PMR)

Home Infusion Therapy Devices Market Overview

Home infusion therapy devices, as the name suggests, deliver medications via a catheter or needle into a vein outside clinical or hospital setting. This is the answer to “How does home infusion work?” The ever-increasing awareness regarding affability of home infusion therapy devices followed by growing geriatric population is driving the in home infusion therapy devices market.

Home Infusion Therapy Devices Market Outlook

The UN states that the population aged 60 and above is bound to reach nearly 425 Mn by the year 2050. It is a known fact that aged population is more vulnerable, as far as contamination and infection are concerned. Also, treating chronic disorders at home is advisable considering the limitations regarding movements after crossing 60. At the same time, the fact that dearth of skilled professionals herein is hampering the home infusion therapy devices market can’t be ignored.

Home Infusion Therapy Devices Market Growth 2028

Reception of treatment at home in comparison with healthcare facilities or hospitals has proven to be a feasible and cost-effective option on the whole. This has upsurged the demand for home infusion therapy devices and the scenario is expected to continue even going forward. The ongoing pandemic has, in fact, mandated home care, so as to maintain social distancing as well as personal course of treatment.

Home Infusion Therapy Devices Market Research Report

Persistence Market Research (PMR), through its home infusion therapy devices market size report, has mentioned about the ins and outs of home infusion therapy devices with the help of historical data as well as the existing market scenario. PMR has also touched upon the conditions like cancer, immune deficiencies, and congestive heart failure, wherein infusion therapy is inevitable, more so – home infusion therapy devices.

Home Infusion Therapy Devices Market Size, Analysis

Home infusion therapy devices market size could be explored by its segmentation. The segmentation goes like – by product, application, and region. Glucose, phospholipids, and glutamine are added to the infusion, so as to provide the desired nutrition. This is a vital advantage of infusion therapy.

Home Infusion Therapy Devices Market by Type

By type, the home infusion therapy devices market spans infusion pumps (elastomeric, electromechanical, gravity, and others), intravenous sets, IV cannulas, and needleless connectors. Out of these, infusion pumps hold more than 50% of the total market share as they are preferred to deliver medications and nutrients. These pumps are available as syringe, enteral, peristaltic and multichannel pumps. Ambulatory pumps are also being preferred these days. Technological advancements have brought in smart pumps that are endowed with barcode technology and help in aversion of drug administration errors.

Home Infusion Therapy Devices Market by Application

By application, the home infusion therapy devices market consists of anti-infective, endocrinology (diabetes and others), hydration therapy (athletes and others), chemotherapy, enteral nutrition, parenteral nutrition, specialty pharmaceuticals, and others. Amongst these, chemotherapy is expected to grow at the fastest rate in the upcoming period due to increasing occurrences of cancer.

Home Infusion drug list (compact) is as below:

  • Amyotrophic Lateral Sclerosis – Radicava
  • Anemia – Aranesp, Epogen
  • Asthma & Allergy – Dupixent, Nucala
  • Atopic Dermatitis – Dupixent
  • Cardiovascular – Praluent, Repatha
  • Cystic Fibrosis – Pulmozyme, TOBI
  • Crohn’s/Ulcertaive Colitis – Cimzia, Entyvio
  • Deep Vein Thrombosis – Arixtra, Fragmin
  • Enzyme Replacement – Cerezyme, Myozyme
  • Fertility – Cetrotide, Bravelle
  • Growth Hormone Deficiency – Humatrope, Genotropin
  • Hematologic – ADAKVEO, Advate
  • Hepatitis C – Incevik, Copegus
  • HIV – Atripla, Aptivus
  • Immunodeficiency – Cutaquig, Cytogam
  • Inflammatory Conditions – Benlysta, KRYSTEXXA
  • Migraines – Aimovig, AJOVY
  • Miscellaneous – Givlaari, Eylea
  • Oncology – Arimidex, Afinitar
  • Neutropenia – Leukine, Neulasta
  • Myasthenia Gravis – Soliris
  • Multiple Sclerosis – Ampyra, Avonex
  • Psoriasis – Amevive, Enbrel
  • Rheumatoid Arthritis – Cimzia, Actemra

And so on.

Home infusion therapy benefits 2021 include lower costs of treatment, higher safety standards being adhered to, amber specialty pharmacy infusion services, and better health outcomes. The second wave of pandemic has actually made home care indispensable. Home infusion therapy implies treating serious/chronic infections that can’t be treated through antibiotics.

Guidelines

With North America ruling the roost and followed by Europe and the Asia-Pacific, Medicare guidelines for home infusion therapy have undergone amendment w.e.f January 1, 2021. As such, Medicare home infusion therapy services benefit do cover professional services inclusive of nursing services in compliance with plan of care, patient education and training. These are the home infusion guidelines herein. So, it needs to be noted that home infusion billing guidelines cover remote monitoring as well.

The key participants in the home infusion therapy devices market include:

  • CVS/Coram
  • Option Care Health
  • Briovax/Diplomat (UnitedHealth Optum)
  • PharMerica
  • Fresenius Kabi
  • ICU Medical, Inc.
  • B. Braun Melsungen AG
  • Baxter
  • Smiths Medical
  • Terumo Corporation
  • JMS Co. Ltd.

PMR has answered “What is home infusion therapy?” in a nutshell.