MarketSizeForecasters.com adds latest home infusion therapy market report that forecasts the industry to surpass a revenue of USD 26 million by 2024. Rising prevalence of chronic diseases, increasing aging population base, and technological advancements in smart infusion pumps are the major factors driving the market trends. Favorable reimbursement schemes and rising public awareness regarding infections is another important factor positively influencing the industry outlook over the coming timeframe.
This report segments home infusion therapy market in terms of applications, products, and regions. It also forecasts the industry trends over the next seven years, with an in-depth strategic analysis of the DROs and a thorough profiling of the prominent industry participants.
In terms of application, enteral nutrition market is anticipated to register a CAGR of 9% over the forecast period. Rising incidences of illnesses such as diabetes, cancer, and gastrointestinal tract infection will further result in surging business growth. Anti-infective application segment held over 25% of home infusion therapy market share in 2015, and is projected to exceed USD 7 billion by 2024. Less hospital expenditure and enhanced patient comfort will further fuel market growth.
Chemotherapy, hydration therapy, parenteral nutrition, specialty pharmaceuticals are other application segments of the home infusion therapy industry expected to witness significant gains in the coming six years.
Infusion pumps being the most lucrative product segment in the home infusion therapy market, accounted for over 50% industry share with a revenue generation above USD 6 billion in 2015. The technological improvement in smart pumps such as alarms and barcode technology will positively impact the demand for infusion pumps.
Needleless connectors guarantee better protection to healthcare experts from needle stick injuries, which has subsequently raised product demand across medical hubs. Needleless connectors are anticipated to witness an annual grow rate of 9.5% over the period of 2016-2024.
Europe is likely to remain a highly lucrative avenue for home infusion therapy industry over the forecast timeframe, having registered a market value of more than USD 3.5 billion in 2015. Rigorous movements by regulatory bodies and introduction of favorable reimbursement policies will highly favor the regional growth. U.S. home infusion therapy market is estimated to surpass USD 10 billion by 2024, having held more than 90% of the regional revenue share in 2015.
Notable industry players include B. Braun Melsungen, Fresenius Kabi, Baxter, Smiths Medical, CareFusion Corporation, Terumo Corporation and ICU Medical. Companies are focusing on strategic collaborations and new product developments to maintain their position in the home infusion therapy market.
Complete report titled Home Infusion Therapy Market Size By Product [Infusion Pump, Intravenous Sets, IV Cannulas, Needleless Connectors], By Application [Anti-infective, Hydration Therapy, Chemotherapy, Enteral Nutrition, Parenteral Nutrition, Specialty Pharmaceuticals] Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, Japan, Brazil, Mexico, South Africa), Application Potential, Competitive Market Share & Forecast, 2016 – 2024 is available at https://marketsizeforecasters.com/home-infusion-therapy-market .
Analysts from Technavio regularly contribute to the news section on MarketSizeForecasters.com. Technavio is a leading market research company with global coverage. Their research and analysis focus on emerging market trends to help businesses identify market opportunities and develop effective strat...