Home Infusion Therapy Market size worth $26.3bn by 2023
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The growth of home healthcare as a cost effective alternative to expensive hospital stays is should further stimulate home infusion therapy market growth. APAC provides attractive growth opportunities as a region, with revenue targeted in excess of USD 4.9 billion, by 2023.
Smart pumps introduction has simplified infusion therapy usage under home care settings. These pumps have the ability to store dosing guidelines in the drug library of the pump and are helpful to reduce the risk of administering IV medications in a clinical setting.
To access sample pages or view this 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 – 2023” in detail along with the table of contents, please click on the link below:
Key insights from the report include:
- Global home infusion therapy market size was USD 13.2 billion in 2015, and is set to exceed USD 26.3 billion by 2023.
- Anti-infection therapies will continue to dominate industry revenue, and are set to see 8.8% CAGR growth from 2016 to 2023. Infusion antifungals, antivirals and antibiotics owing to the ease of providing this treatment at a outpatient setting are some prime examples.
- Infusion pumps market size is poised to jump from USD 6.8 billion in 2015 at 8.6% CAGR. These devices are used not only in healthcare facilities across the word but also extensively in outpatient settings. Infusion pumps allow greater level of precision and accuracy during drug delivery and hence reduce medication errors.
- IV sets include consist of extension sets, flow regulators, fluid delivery tubing, vial adapters, IV transfer sets, in-line filters, subcutaneous, and blood administration sets. This segment is forecast to see more than USD 3.4 billion in sales by 2023.
- S. home infusion therapy market share is likely to sustain moderate growth, at just over 8% from USD 5.4 billion in 2015.
- UK and Germany together were responsible of over 41% of Europe home infusion therapy market size in 2015.
- The industry may see new entrants in the near future, with moderately high threat due to strong revenue potential and moderate entry barriers. Additionally, relatively low capital requirements may encourage hospital solution providers to enter the market via mergers and acquisitions.
- Presence of high unmet medical needs owing to rapidly ageing population, and improving healthcare infrastructure in APAC and LATAM should act as a catalyst for the industry growth.