PUNE, India, June 5, 2019 /PRNewswire/ -- Growing rates of chronic diseases is expected to drive the U.S home infusion therapy market. The U.S. home infusion therapy market is estimated to reach a market value of US$ 8,672.3 million in 2019 and it is expected to reach US$ 19,250.0 million by 2027, growing at an estimated CAGR of 10.5% over the forecast period.
The need to provide continuous care to elderly population and chronic disease patients at remote locations generates demand for various infusion therapy devices and solutions. Increasing incidences of respiratory disorders, cardiovascular diseases and other chronic ailments will result in more and more adoption of infusion products, which will thus propel the U.S. home infusion therapy market growth. Industry growth is also attributed to rising average household income across the nation and to availability of home healthcare providers. A large proportion of retired elderly population has monetary reserve to avail healthcare at their homes. In spite of many market growth favoring parameters, factors such as sporadic affordability, limitations on reimbursement and insurance restrains market expansion across the U.S. A considerable stratum of geriatric population experience home infusion therapy shortfall due to scarcity in number of home healthcare agencies in remote areas of certain states.
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The detailed research study provides qualitative and quantitative analysis of U.S. home infusion therapy market. The market has been analyzed from the scope of demand as well as supply. The analysis of demand covers market revenue across regions and further also across all the major countries. The analysis of supply covers the major market players and their regional and global presence and strategies. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- Infusion pump market segment held more than 50% of market share in 2018 and is estimated to grow at CAGR of above 9% during the forecast period. Infusion pump growth is attributed to introduction of modern pumps that offer low error while administrating nutritional fluids. Increasing prevalence of disease prone to geriatric population will fuel market growth in near future.
- Needleless connectors market segment is estimated to grow with CAGR of above 10% over the projection timeframe, owing to rising demand for home infusion therapy caused due to diseases such as dengue, malaria etc. Population suffering from such diseases require continuous administration of external nutritional fluids. More the need for home infusion, more will be the demand for needleless connectors.
- Application of home infusion therapy for anti-infective diseases held the largest market share in 2018 and it is estimated to continue its dominance over the forecast period. Rising rate of various infectious diseases caused by virus, bacteria and others will augment demand for anti-infective home infusion therapy products.
- Pacific central region home infusion therapy market is expected to witness the highest growth rate over the forecast period. Increasing demand for various home infusion therapy will contribute to market growth in this region.
- Key industry participants in U.S. home infusion therapy market are Baxter International, Becton Dickinson, Fresenius Kabi, Smith Medical, B. Braun, Amsino International, Halyard Health and Terumo Corporation among others.
- Partnership, collaboration, expansion and acquisition are some of the strategies adopted by companies to expand their reach and gain competitive advantage.
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- By Product
- Infusion pumps
- Intravenous sets
- IV cannulas
- Needleless connectors
- By Application
- Hydration therapy
- Enteral nutrition
- Parenteral nutrition
- Specialty pharmaceuticals
- By Geography
- East North Central
- West South Central
- South Atlantic
- North Carolina
- South Carolina
- West Virginia
- Washington D.C.
- North East
- New Hampshire
- Rhode Islands
- New Jersey
- New York
- East South Central
- West North Central
- North Dakota
- South Dakota
- Pacific Central
- Mountain States
- New Mexico
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