Rising Application in Parental Nutrition to Increase the Sales of Home Infusion Therapy Devices by 8.6%

The demand in home infusion therapy market reached US$ 31 Bn in 2021 and overall sales are projected to expand by 2.4x through 2022 & beyond. Growth in underpinned by increasing prevalence of chronic illnesses, propelling the demand for transparency in the quality of care and remote patient management.

Based on these factors, the market is likely to witness exponential growth, creating remunerative prospects for the market over the upcoming decade. In addition to this, easy availability of these home infusion therapy devices will contribute to the growth in the market.

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Moreover, healthcare industry is witnessing rapid technological advancements. Consequently, introduction of advanced intravenous devices in the sector is projected to increase the sales in home infusion therapy market.

Also, availability of several favorable government policies favoring the treatment for geriatric population to cover their medical expenses will propel the growth in the market. Furthermore, rising preference for home care to lower the medical expenses and increase patient mobility is estimated to bolster the sales in the market.

Report AttributesDetails
Base Year Value (2021A)US$ 31 Bn
Projected Year Value (2032F)US$ 76 Bn
Global Growth Rate (2022-2032)CAGR 8.6%

Key Takeaways:

  • Based on product type, the infusion pumps segment is estimated held maximum share of US$ 16.5 Bn in 2021 and the trend is likely to continue during the forecast period.
  • North America is anticipated to account for more than 40% of the market share due to the rising demand for infusion therapies in the U.S.
  • Nearly 4/5th of the home infusion therapy market share is held by infusion pumps and intravenous sets, collectively.
  • India and China are expected to spearhead the growth in Asia Pacific home infusion therapy market.
  • Infusion pumps segment will create an absolute $ opportunity of US$ 301 Bn between 2022 and 2032

Growth Drivers:

  • Rising need for home care infusion devices for people with certain conditions such as diabetes, nephropathy, and others is projected to increase the demand
  • Growing awareness about patient care outside of medical settings across the U.S., China, and India will boost the market.
  • Introduction of smart pump technology is projected to increase the adoption of home infusion therapy across the globe.

Restraints:

  • Lack of reimbursement policies associated with home infusion therapies in low income countries is likely to restrict the growth in the market.

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Competitive Landscape:

Leading players operating in the global home infusion therapy market are focusing on introducing advanced healthcare technologies to improve healthcare services. They are also adopting strategies such as mergers, acquisitions, collaborations, and partnerships to gain a competitive edge in the market.

For instance,

  • February 2020: Avocet launched AvosetGO, an infusion pump device with touch display that can be connected and monitored through smart electronics.
  • May 2021: Smiths Medical partnered with Ivenix, Inc. to deliver a range of infusion management solutions in the United States. This deal will help both the company focus on infusion administration and patient safety.

Key Companies Profiled by Fact.MR

  • Option Care Health
  • PharMerica
  • CVS/Coram
  • JMS Co. Ltd.
  • Fresenius Kabi
  • B. Braun Melsungen AG
  • Baxter
  • ICU Medical, Inc.
  • Terumo Corporation
  • BD
  • BriovaRx/Diplomat
  • Caesarea Medical Electronics
  • Smiths Medical

More Valuable Insights on Home Infusion Therapy Market

Fact.MR, in its report, offers a market analysis on the global home infusion therapy market providing unbiased analysis for the forecast period of 2022 to 2032. This survey also reveals key growth prospects and major trends affecting the sales in the home infusion therapy market. To gain a better understanding, the market is segmented on the basis of:

By Product Type:

  • Infusion Pumps
  • Elastomeric
  • Electromechanical
  • Gravity
  • Other Infusion Pumps
  • Intravenous Sets
  • IV Cannulas
  • Needless Connectors

By Application Type:

  • Anti-Infective
  • Endocrinology
  • Hydration Therapy
  • Chemotherapy
  • Enteral Nutrition
  • Parenteral Nutrition
  • Specialty Pharmaceuticals
  • Other Applications

By Region:

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

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Key Questions Covered in the Home Infusion Therapy Market Report

  • Which are factors driving the global home infusion therapy market?
  • What is the expected market valuation of home infusion therapy market during 2022-2032?
  • Which region will dominate the global home infusion therapy market?
  • What was the market size of home infusion therapy market in 2021?
  • Which are key players operating in the global home infusion therapy market?
  • Which are challenges faced in home infusion therapy market?

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