SELBYVILLE, Del., May 20, 2020 /PRNewswire/ -- Global Market Insights, Inc. has recently added a new report on the home infusion therapy market, which estimates the global market valuation for home infusion therapy will cross US $43.7 billion by 2026. Rising prevalence of infectious diseases, including hospital-acquired infections and chronic disease, will drive the market growth in the coming years.
The increasing burden of sedentary lifestyle disorders and a rising geriatric patient pool will surge the overall market growth. The introduction of cost-effective and novel devices will further boost the product demand, thereby augmenting the home infusion therapy market growth during the forecast period. A rising geriatric population base, coupled with improved home healthcare facilities to treat patients suffering from various chronic illnesses, will trigger the market growth.
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An increasing number of baby boomers suffering from reduced mobility and chronic diseases, such as diabetes and osteoarthritis, in developing economies will augment the demand for home infusion therapy. For instance, according to the Department of Economic and Social Affairs, approximately 250 million elderly people experience moderate to severe disability, therefore the growing aged population will increase the demand for homecare infusion therapy. However, the dearth of reimbursement policies may hamper the market growth during the forthcoming years.
The IV cannulas segment accounted for significant revenue in 2019 and is projected to register a CAGR of 11.2% during the analysis period. IV cannulas are widely used for real-time monitoring of administered medicines, surrounding external and internal surfaces of medicine needles and blood collection. Such advantages have been developed for the homecare setting, thus increase the demand for home infusion products, thereby fostering the industry's growth.
The chemotherapy segment was valued at around USD 450 million in 2019. The segmental growth is attributed to the use of portable pumps as point-of-care devices to conduct chemotherapy by patients in homecare settings. These devices deliver the prescribed amount of medicines to the targeted areas. Such advantages will propel segmental growth.
The home infusion therapy market in the Asia Pacific is anticipated to show lucrative growth over the analysis time period. High regional growth is attributed to various initiatives by the government to promote chronic disease awareness and rising home healthcare funding. A large patient pool suffering from various infectious and chronic diseases will foster regional growth. The presence of a large number of baby boomers, coupled with economic growth, will foster regional growth. Moreover, the adoption of advanced technology in developing countries such as India and China will aid in the promising growth of the Asia Pacific home infusion therapy market.
Browse key industry insights spread across 130 pages with 122 market data tables and 14 figures and charts from the report, "Home Infusion Therapy Market Share & Forecast, 2020-2026" in detail along with the table of contents:
Some major findings of the home infusion therapy market report include:
- Rapid adoption of IV systems have been witnessed along with a growing number of people requiring the need for home infusion therapy.
- The International Diabetes Federation 2019 report stated that approximately 463 million individuals were suffering from diabetes and anticipated to rise 700 million by 2045.
- Companies such as B Braun and ICU Medical are at a higher demand due to an increase in the production of infusion pumps, intravenous sets, connectors that are used to treat the patients.
Few notable companies operating in the home infusion therapy market include Baxter, Fresenius Kabi, Becton, Dickinson & Company, Eli Lilly & Company, B. Braun Melsungen, Smiths Medical, Terumo Corporation and ICU Medical among others. Major industry players are focusing on various organic and inorganic strategies such as novel product launches, business expansion and collaboration to sustain their market presence.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Global home infusion therapy industry 360º synopsis, 2015 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Regional trends
Chapter 3. Global Home Infusion Therapy Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
22.214.171.124. Growing geriatric population
126.96.36.199. Advancements in technology
188.8.131.52. Growing hospital-acquired infection
184.108.40.206. Presence of home healthcare facilities
220.127.116.11. Rising prevalence of chronic disease
3.3.2. Industry pitfalls & challenges
18.104.22.168. Dearth of reimbursement
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By application
3.5. COVID-19 impact analysis
3.6. Regulatory Landscape
3.7. Porters analysis
3.8. Competitive landscape, 2019
3.8.1. Competitive matrix analysis, 2019
3.9. PESTEL analysis
Browse complete report table of contents at https://www.gminsights.com/toc/detail/home-infusion-therapy-market-report
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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