Home Infusion Therapy Market Expected To Reach US$ 26,747.8 Mn By 2020

According to a new market report published by Persistence Market Research “Global
Market Study on Home Infusion Therapy Devices - Needleless Connectors to
Witness Highest Growth by 2020”, the global home infusion therapy devices market
was valued at US$ 15,905.1 Mn in 2014 and is expected to grow at a CAGR of 9%
from 2014 to 2020, to reach US$ 26,747.8 Mn by 2020.
Home infusion therapy facilitates intravenous at-home administration of medicines
into the patient’s body through needle and catheter. The therapy is prescribed by
physicians and administered by trained healthcare professionals. It is used when oral
medication is not effective for the treatment of diseases such as cancer and
gastrointestinal diseases. It is also used in the treatment of diabetes, cystic fibrosis,
dehydration, and acute infections. Home infusion therapy reduces time spent by
patients in hospitals, nursing homes, and clinics. The therapy is used to administer
drugs, antibiotics, nutrients, and other fluids into the veins on a daily, weekly, or
monthly basis, depending on the patient’s condition. Home infusion therapy is an
effective and safe alternative against conventional hospitalization for the treatment of
diseases. This is due to convenience and friendly environment at the patient’s home,
which helps in faster recovery from diseases. Home infusion therapy includes total
parenteral nutrition, infusion antibiotic therapy, hydration therapy, IV steroid therapy,
chemotherapy, enteral therapy, and pain management. Some major infusion devices
used for administration of medicines are infusion pump, intravenous equipment, and
needleless connectors. Infusion pumps are categorized as ambulatory infusion pump,
large volume infusion pump, and syringe infusion pump.
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Globally, the home infusion therapy devices market is witnessing significant growth
due to the expanding home care market for infusion therapy and increasing
application of infusion devices for relieving pain. Moreover, rising aging population,
increasing number of chronic diseases, and technological advancements in infusion
devices are also supporting the growth of home infusion therapy devices market.
However, increasing risk to patient safety and occurrence of mistakes while using
infusion devices as well as issues related to reimbursement policies for home infusion
therapy inhibit the growth of the market. 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.
In North America, the home infusion therapy devices market is growing due 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 home
infusion therapy devices market in the region.
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The home infusion therapy devices market in Europe is growing due to increasing
aging population and rising popularity of non-hospital procedures in the region.
Furthermore, increasing number of chronic diseases which requires home infusion
therapy, such as cancer, diabetes, and AIDS, is also boosting growth of the Europe
home infusion therapy devices market. According to the National Center for
Biotechnology Information (NCBI) - a branch of the National Institutes of Health around 3.4 million new cases of cancer and 1.7 million deaths from cancer were
reported in Europe in 2012. Moreover, according to the Oxford Journals,
approximately 7 37,747 men and 5 76,489 women died from cancer in Europe in
2013. Furthermore, according to the European Diabetes Leadership Forum 2012,
Copenhagen, about 35 million adults in Europe were suffering from diabetes in 2011,
which is anticipated to rise to 43 million by 2030.
Asia represents the fastest-growing market for home infusion therapy devices. This is
primarily due to growing aging population and cost effectiveness of home infusion
therapy. In addition, rising popularity of non-hospital procedures and increasing
prevalence of chronic diseases in the region is further driving the market. According
to the National Home Infusion Association, home infusion therapy is more costefficient compared to hospitalization treatment. For instance, home infusion therapy
cost nearly US$ 200 a day compared to less than US$ 2,000 a day in a hospital.
According to the Wisut Jaijagcome/East-West Center, the number of people aged 65
years and above in Asia was 207 million in 2000 and the number is expected to reach
857 million by 2050.
Hospira, Inc., B. Braun Melsungen AG, Caesarea Medical Electronics Ltd., Fresenius
Kabi AG, and Smiths Medical are some of the leading players in the home infusion
therapy devices market. Other players in the home infusion therapy devices market
include CareFusion Corporation, ICU Medical, Inc, JMS Co. Ltd., Baxter, and
Terumo Corporation.
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Infusion therapy has become a popular pain relieve treatment method, especially for diseases where oral medication is least effective. In cases of gastrointestinal diseases, diabetes and cancer-related pain infusion therapy is common. Moreover, infusion therapy is equally effective in treating disorders such as cystic fibrosis and chronic dehydration. Home infusion therapy cuts on frequent hospital visits and improves medicine adherence.