The global home infusion therapy devices market is anticipated to grow from US$ 15,905.1 Mn in 2014 to US$ 26,747.8 Mn by 2020 at a CAGR of 9% during the forecast period.
Albany, NY -- (SBWIRE) -- 06/20/2016 -- Home infusion therapy involves the intravenous at-home administration of medicines into the patient's body with the help of a needle and catheter. It is prescribed by physicians and administered by trained healthcare professionals. Home infusion therapy is employed for the treatment of certain diseases when oral medications prove to be ineffective or the patient fails to respond to it after a point. It reduces the time spent by patients in hospitals, nursing homes, and clinics. Home infusion therapy facilitates the administration of antibiotics, nutrients, and other fluids into the patient's veins on a daily, weekly, or monthly basis, depending on the seriousness of the disease. It is an effective and safe alternative to hospitalization for the treatment of diseases. This is due the friendly home environment in which drugs are administered, that subsequently help in faster recovery from diseases. Home infusion therapy is used in the treatment of diseases that remain unresponsive to oral medication such as cancer, pain related to cancer, and gastrointestinal diseases. It is also used to treat diabetes, dehydration, and cystic fibrosis. Home infusion therapy improves medication adherence and reduces unplanned hospitalization. Some major infusion devices used for the administration of medicines include an infusion pump, intravenous set, and needleless connectors.
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Home infusion therapy is more cost-efficient than hospitalization. This is a major reason behind the increasing demand for home infusion therapy devices. Moreover, rising aging population, increasing the prevalence of chronic diseases, advancements in technology in infusion devices, and innovative applications of infusion devices in healthcare are boosting the growth of the home infusion therapy devices market. However, increasing the risk to patient safety due to errors while using infusion devices and issues related to reimbursement policies for home infusion therapy hamper the growth of the home infusion therapy devices market. Increasing patient inclination towards specialty infusion therapy has opened up new opportunities for the home infusion therapy devices market. Rising number of mergers and acquisitions, increasing uses of the ambulatory infusion pump and rising number of product innovations are some major trends observed in the global home infusion therapy devices market.
In terms of geography, North America dominates the home infusion therapy devices market owing to increasing number of patients with chronic diseases such as cancer, AIDS, and diabetes. In addition, growing aging population is also supporting the growth of the home infusion therapy devices market in the region. In Europe, the home infusion therapy devices market is growing due to increasing aging population and rising popularity of non-hospital procedures for the treatment of diseases in the region. In addition, increasing the number of chronic diseases which requires home infusion therapy, such as cancer, diabetes, and AIDS, is also boosting the growth of the Europe home infusion therapy devices market. Asia represents the fastest-growing home infusion therapy devices market due to increasing geriatric population and costs effectiveness of home infusion therapy.
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This report provides in-depth analysis and estimation of the home infusion therapy devices market for the period 2014–2020, considering 2014 as the base year for the calculation. Moreover, data pertaining to current market dynamics, including market drivers, restraints, opportunities, trends, and recent developments, has been provided in the report. The home infusion therapy devices market is categorized on the basis of the type of device, infusion pump, application, disease, and geography. Based on the type of device, the market comprises infusion pumps, intravenous sets, and needleless connectors. Based on infusion pumps, the report covers volumetric infusion pump, syringe infusion pump, insulin infusion pump, enteral infusion pump, ambulatory infusion pump, patient-controlled analgesia (PCA) infusion pump, and implantable infusion pump. Based on the application, the market comprises anti-infectives/antibiotics, enteral nutrition, specialty pharmaceuticals, total parenteral nutrition (TPN), pain management, chemotherapy, and hydration infusion pump. Based on the type of diseases, the report covers diabetes and cancer. On the basis of geography, the home infusion therapy devices market report identifies and analyzes the market size and predictions for North America, Europe, Asia, and Rest of the World (RoW).
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Some of the major players in the home infusion therapy devices market are Hospira, Inc., B. Braun Melsungen AG, Caesarea Medical Electronics, Fresenius Kabi AG, Smiths Medical, CareFusion Corporation, ICU Medical, Inc, JMS Co. Ltd., Baxter, and Terumo Corporation. These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.
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