PUNE, India, June 25, 2021 (GLOBE NEWSWIRE) – The Global Home Infusion therapy Market share, trends, analysis and forecast, 2020-2030 provides information on key developments, business strategies, research and development activities, supply chain analysis, competitive landscape and market analysis. the composition of the market.
The home infusion therapy market size was estimated to be US $ 18 billion in 2020 and is expected to reach US $ 43.5 billion by 2031 at a CAGR of 8.4%. Home infusion therapy works with home medications that are delivered into the patient’s body through a needle and catheter. Therapy is physician-approved and managed by experienced medical service professionals. It is used when oral medications are not viable for the treatment of disorders such as malignant growth of tissue such as cancer or tumors and gastrointestinal infections. It is also used in the treatment of diabetes, cystic fibrosis, dehydration and severe infections.
Home infusion therapy decreases the time patients spend in emergency clinics, nursing homes, and health care centers. The therapy is used to control the entry of drugs into the human body, infection reducing agents, the delivery of supplements and different fluids to the veins every day, week by week or monthly routine. The routine depends on the severity of the disease and the condition of the patient.
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Home infusion therapy is a convincing and safe option over conventional hospitalization for the treatment of illnesses. This is because of the convenience and comfortable environment in the patient’s home, which helps in recovering from health issues faster. Home infusion therapy refers to the interaction in which patients receive treatment at home through the delivery of drugs through catheters and needles. Accepting treatment at home rather than in clinics or medical practices is a financially preferable and more convenient option for patients, further increasing the need for home infusion therapy.
A few conditions such as autoimmune disorders causing deficiency, respiratory infections, and congestive cardiovascular collapse require infusion therapy because these conditions cannot be treated with oral medications. Since these patients require long-term treatment, home infusion therapy is considered a wiser option compared to treatment in medical clinics.
Growth Drivers of Global Home Infusion Therapy Market
The home infusion therapy market will perceive growth along with the epidemic of corona virus since 2020. The increase in the geriatric population across the world is expected to be the major driving force of the market during the forecast period 2020 -2030. Further, the increasing prevalence of chronic diseases is expected to drive the market over the forecast period.
The presence of complicated medical care provided by the government of developing countries is expected to be the biggest restriction for the market in the expected period of time. The key elements driving the evolution of the market are an increase in the population aged 60 and over. This part of the population faces major restrictions on visiting health care clinics, especially since the corona virus outbreak. Advances in medical care techniques in infusion therapy as well as the simplification of error-free use in measuring liquids is an important factor for the growth of the market in the coming years.
In any case, the lack of information on home infusion therapy is a limitation for the development of home infusion therapy market. The current situation of the coronavirus pandemic is significantly affecting the home infusion therapy market, where patients cannot travel to medical service habitats for intravenous therapy. Home infusion therapy is the best help in the current situation.
According to the conducted studies, the increase of the geriatric population in developing and developed regions all over the world is expected to be the major driving factor of the market in the forecast period of 2020-2030. In addition, the complex healthcare payment initiatives provided by local government organizations are expected to be the biggest limitation for the market in the period under review. A large portion of medical institutions are obsessed with improvement and automation equipment to maintain their position in the global home infusion therapy market.
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The main segments of the home infusion therapy market
In the home infusion therapy market, based on the product, infusion tubes are expected to hold the largest market share. Infusion tubes are used to transport supplements and fluids around the body at specific time intervals and in poorly calculated volumes.
Nowadays, smart whip tubes are widely used because these tubes contain advanced features, for example, a regulated label, which helps to verify a patient’s disorder traits and further prevents medication dispensing errors. . Needleless instruments are expected to provide the highest CAGR during the forecast period 2020-2030.
These connectors provide enhanced security during medication, enable smooth medical operations, and help meet good clinical practice (GCP), which contributes to the development of the segment. Moreover, on the basis of the application, the anti-infective segment has held the largest share of the market development in recent years. The increase in fluid medication methods, for example, hostile to contagious and antibiotics and applicative treatments without going to emergency clinics are the factors that are expected to support the development of the market.
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In addition, increasing population over the age of 65, a stressful and fast-paced lifestyle leading to unhealthy food choices are causing chronic diseases, for example diabetes and autoimmune nutritional deficiencies in North America are spreading the participation in home infusion therapy. Asia-Pacific is also expected to be the rapidly developing market due to the growing attention to the benefits of home infusion and increasing disposable income limits here in this region.
All over the world, home infusion therapy is gradually being adopted by patients for the enjoyable home care setting and to stay clear of the high medical expense demand of healthcare communities. The rapidly growing market is for advanced medical equipment, for example, remote infusion tubes with remote control functions, where a medical service professional can closely monitor patients without physical contact.
Besides, the growing elderly population in the world is the main consideration which is driving the development of the market. Either way, the excess of uncontrolled liquid medicine can prove to be fatal and hamper the growth of the market.
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The major players in the global home infusion therapy market are:
CVS / Coram, Option Care Health, BriovaRx / Diplomat (United Health Optum), PharMerica, Fresenius Kabi, ICU Medical, Inc., B. Braun Melsungen AG, Baxter, BD, Caesarea Medical Electronics, Smiths Medical, Terumo Corporation, JMS Co Ltd.
Key segments of the global home infusion therapy market:
type of product
- Infusion pumps
- Intravenous sets
- IV Cannulas
- Needle-free connectors
type of request
- Hydration therapy
- Enteral nutrition
- Parenteral nutrition
- Specialty Pharmaceuticals
- North America
- Rest of North America
- The rest of europe
- Asia Pacific
- Rest of the APAC
- Middle East and Africa
- United Arab Emirates
- South Africa
- Saudi Arabia
- Rest of the MEA
- South America
- Rest of South America
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