Persistence Market Research Released New Market Report on “Global Market Study on Home Infusion Therapy: Needless Connectors to Witness Highest Growth by 2020”, the global home infusion therapy market is estimated at USD 15.9 billion in 2014 and is expected to reach USD 26.7 billion by 2020, growing at a CAGR of 9.0% from 2014 to 2020.
New York, NY -- (SBWIRE) -- 10/08/2014 -- Rise in aging population and increasing incidence of chronic diseases increases the demand for home infusion therapy in the market. As a result, the market is expected to grow at a CAGR of about 9.0% from 2014 - 2020.
Browse the full Global Market Study on Home Infusion Therapy: Needless Connectors to Witness Highest Growth by 2020 report http://www.persistencemarketresearch.com/market-research/home-infusion-therapy-market.asp
Home Infusion therapy involves administration of intravenous medication into patient’s body at their homes. It involves the use of needle or catheter for proper medication. It is based on doctor’s prescription. It takes place when oral medication is not effective to cure disease. Home infusion therapy helps in reducing time spent in hospitals, nursing homes and clinics. It includes continuous and slow administration of drug, antibiotic, nutrient and other fluid into vein and tissues on a monthly, weekly and daily basis, depending on the condition of patients and therapy being used in treatment. It is provided by trained professionals and nurses. The cost of home infusion therapy is less as compared to hospital stay costs, this helps in increasing demand of home infusion therapy. As a result, the market is expected to grow at a CAGR of about 9.0% from 2014 – 2020.
Some of the major drivers which help in increasing demand for home infusion therapy are rising aging population, increasing number of chronic diseases, expanding home care market for infusion therapy, technology advancement in infusion devices and increasing application of infusion devices in pain relieving. However, some of the factors inhibiting the growth of the home infusion therapy market are increasing risk with patient’s safety and occurrence of mistakes while using infusion devices and issues related to reimbursement policies for home infusion therapy. Increase in the use of ambulatory infusion pumps, increasing number of mergers and acquisitions and rising number of products innovations are some of the market trends that have been observed in home infusion therapy market.
North America has the largest market for home infusion therapy, followed by Europe. Some of the other fast growing markets for home infusion therapy are Japan, China, Germany and the U.S.. Asia has the fastest growing market for home infusion therapy. Rise in aging population and increasing healthcare costs are driving home infusion therapy market in the region. Anti-infective/ antibiotics have the largest application based market in the global home infusion market and are expected to grow at a CAGR of about 9.8% from 2014 – 2020.
Baxter is one of the leading players in the home infusion therapy market. Other major players in home infusion therapy market include B. Braun Melsungen AG, Fresenius Kabi AG and CareFusion Corporation.
The global home infusion therapy market is segmented as follows:
Home Infusion Therapy Market, by Type of Device
Home Infusion Therapy Market, by Infusion Pump Devices
Volumetric infusion pump
Syringe infusion pump
Insulin infusion pump
Enteral infusion pump
Ambulatory infusion pump
Patient Control Analgesia (PCA) infusion
Implantable infusion pump
Home Infusion Therapy Market, by Application
Total Parenteral Nutrition(TPN)
Hydration infusion pump
Home Infusion Therapy Market, by Type of Disease
Home Infusion Therapy Market, by Geography
Rest of the World (RoW)
About Persistence Market Research
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
PMR stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, PMR’s engagement models are highly flexible without compromising on its deep-seated research values.