Infusion therapy is currently emerging market as the therapy are ideally refers to the administration of solutions or medications via the IV, subcutaneous, intraosseous, and intraspinal route. The infusion therapy is ideally a process where the patient receive medication via different administration. Home infusion therapy further offer patient comprehensive and innovative source for health care in the comfort of their home. It acts as a safe and effective alternative to inpatient care for variety of therapies and diseases. Home administered infusion therapy includes anti-infective, hydration therapy, chemotherapy, enteral nutrition, parenteral nutrition which management of diseases. The growing demand for various products in home infusion therapy is expected to drive the market growth during the estimated time period.
MARKET DYNAMIC- GLOBAL HOME INFUSION THERAPY MARKET
The global home infusion therapy market is majorly driven by growing geriatric population, advancements in technology and rising prevalence of chronic disease. The increasing prevalence of diseases, chronic medical ailment such as cancer, diabetes has led the rising requirement for home infusion therapy globally. Besides, the demand for market is majorly due to growing cases of HAI (hospital acquired infections) which has further created ample of new growth opportunity for market. Besides, COVID-19 spread, and requirement for treatment in various diseases, COVID-19 has boosted the market growth to huge extend. Likewise, availability of cost effective and user friendly home infusion therapy has fuelled the growth of market. The rising preference for home infusion therapy worldwide is expected to drive the market growth during the estimated time period.
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COVID 19 IMPACT ON GLOBAL HOME INFUSION THERAPY MARKET REPORT
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the home infusion therapy market. In addition, complete analysis of changes on home infusion therapy market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
HOME INFUSION THERAPY MARKET SEGMENTAL OVERVIEW
The home infusion therapy market comprises of different market segment like product, application and geography.
HOME INFUSION THERAPY MARKET BY PRODUCT
The home infusion therapy is available in market according different product including infusion pump, intravenous sets, IV cannulas, and needleless connectors. The infusion pump further includes sub segment like syringe infusion pump, ambulatory infusion pump, implantable infusion pump, insulin infusion pump and others. In the global home infusion therapy market by product, infusion pump is expected to gain major market share attributing to its ability to deliver fluids in large or small amounts and can be widely used to deliver nutrients or medication. Besides, the growing demand for syringe infusion is due to its gradual administer specific amount of fluids for use in biomedical research. Likewise, ambulatory infusion pump is widely having growing demand owing features like it helps in slowly deliver the medicine like chemotherapy or antibiotics into the patient’s body. Likewise, intravenous sets, followed by IV cannulas and needleless connectors are likely to contribute healthy growth in the market during the estimated time period.
HOME INFUSION THERAPY MARKET BY APPLICATION
The home infusion therapy market finds its major application in anti-infective, hydration therapy, chemotherapy, enteral nutrition, parenteral nutrition and others. The anti-infective is expected to dominate in the market during the forecast period owing to its major use in different procedure for the administration of antifungal and antibiotic drugs. Besides, the segment is majorly used to prevent or treat infection including antibacterial, antiviral, antifungal and antiparasitic medications. Similarly, chemotherapy is having increasing demand for home infusion therapy as helps for proper management of infusion medication which has further created driving demand for market worldwide.
HOME INFUSION THERAPY MARKET BY GEOGRAPHY
The global home infusion therapy market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is expected to dominate in the market during the estimated time period owing to presence of advanced healthcare facilities, increasing adoption of technology based therapy. Likewise, growing research and development, product innovation has fuelled the demand for market. In addition, burden of different diseases has led the manufacturer with new growth opportunity in market. Likewise, shifting trends and preference for home infusion therapy is boosting the market growth. In addition, Europe is expected to witness growth at specific growth rate in upcoming years due to increasing hospital procedure and large base of geriatric consumers for home infusion therapy market.
HOME INFUSION THERAPY MARKET KEY PLAYER
The key players in home infusion therapy market are B. Braun Melsungen AG, Becton, Dickinson and Company (BD), Hospira, Inc, ICU Medical, Inc, Caesarea Medical Electronics Ltd, Baxter International Inc, JMS Co. Ltd, Smiths Medical, Eli Lilly and Company, Fresenius Kabi, Terumo Corporation and Cosmed among others.
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