U.S. Home Infusion Therapy Market surge to hit USD 13.5 bn by 2024
Sellbyville, DE -- (SBWIRE) -- 12/10/2018 -- The U.S. Home Infusion Therapy Market is set to exceed USD 13.5 billion by 2024; according to a new research report by Global Market Insights. Increasing rates of hospital acquired infections have impacted the market growth positively. In American hospitals, infections associated with health care account for around 1.7 million infections and 99,000 deaths every year. These infections lead to chronic diseases that require continuous monitoring; thus, accelerate demand for home infusion therapies.
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Infusion pump segment held around 51% in market share in 2017 and is estimated to grow at a CAGR of 9.8% over the forecast timeline. Growth is attributed to modifications incorporated in infusion pumps that have reduced errors while administering the fluids in patient's body. Rising prevalence of diseases and surgical procedures have escalated demand for infusion pumps.
Needleless connectors segment will grow at a CAGR of 10.5% over the forecast period due to growing demand for hydration therapies and rising prevalence of diseases such as malaria, dengue and others that requires continuous supply of fluids. Patients suffering from chronic conditions require continuous supply of medical accessories such as needleless connectors thereby will accelerate business growth over the forecast timeframe.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Halyard Health
- ICU Medical
- Amsino International Inc.
- BKK B. Braun Melsungen AG
- CME (Caesarea Medical Electronics Ltd.)
- Baxter International Inc.
- Smiths Medical
- Terumo Medical Corporation
- Becton Dickinson
- Fresenius Kabi USA
Anti-infectives accounted for over 27.5% market share in 2017 and is anticipated to continue dominating the industry over the upcoming years. Growing rates of bacterial, viral and other infections coupled with rising rates of hospital acquired infections escalate the demand for anti-infectives therapy enhancing overall industry growth.
Parenteral nutrition segment will witness lucrative growth over the coming years owing to increasing demand for home infusion therapies. Around 40,000 people in U.S. receive home parenteral nutrition safely through variety of catheters. The therapeutic benefits as well as treatment against poor functioning of gastro-intestinal tract disorders through parenteral nutrition should propel its demand over the forecast timeframe.
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South Atlantic home infusion therapy market is anticipated to witness significant growth over the coming years owing to rising prevalence of nosocomial infections and chronic diseases. Increasing geriatric population, prone to infections due to reduced immunity will further boost industry growth. Also, growing rates of surgical procedures will have positive impact on the market demand.
U.S. Home Infusion Therapy Market by Product
o Infusion pump
o Intravenous sets
o IV cannulas
o Needleless connectors
U.S. Home Infusion Therapy Market by Application
o Hydration therapy
o Enteral nutrition
o Parenteral nutrition
o Specialty pharmaceuticals