LONDON, Oct. 10, 2016 /PRNewswire/ -- Global Home Infusion Therapy Market is expected to reach USD 31.9 billion by 2022, according to a new study by Grand View Research Inc. Rising incidence of chronic disorders has led to an augmentation in the demand for infusion therapy in outpatient settings, thereby boosting the home infusion therapy market. Rapidly growing geriatric population base globally, is also likely to serve this market as a high impact rendering driver. The home infusion therapy is considered beneficial for patients as they get the entire treatment at the comfort of their home. Furthermore, home infusion therapy is a cost effective alternative to placement in hospital, and allows patients to adhere to their normal lifestyle while receiving treatment. Rising incidences of hospital acquired infections is a high impact rendering driver of this market. Additional healthcare spending associated with these infections are expected to encourage patients to prefer home care over the conventional settings.
Further key findings from the study suggest:
Needleless connectors are expected to witness lucrative growth over the forecast period. Growing demand for enhanced healthcare service provider safety has led to the rise in demand for needleless connectors.
Anti-Infective dominated the market with a revenue share of over 25.0% in 2014. Home administration of anti-infective therapy is preferred by patients who have chronic infections that cannot be treated through oral agents. It is considered as the most user friendly home infusion therapy.
North America accounted for more than 40% of the home infusion therapy market in 2014 on account of the presence of large geriatric population base. Presence of sophisticated healthcare infrastructure and favorable reimbursement plans laid out by regulatory bodies are also expected to make significant contributions towards market growth.
Asia Pacific is expected to emerge as a high growth market over the forecast period. Presence of large unmet needs in the emerging economies such as China and India. Rising patient awareness levels regarding the benefits of home infusion therapies over the in-hospital infusion therapies is expected to further boost the growth of this region.
Key players of home infusion therapy market include B. Braun Melsungen AG, Fresenius Kabi AG, Baxter, CareFusion Corporation and Hospira Inc. Mergers and acquisitions and entering into strategic collaborations with healthcare providers are two key sustainability strategies adopted by these market participants.
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