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Home Infusion Therapy Market Overview
The global home infusion therapy market is projected to observe significant growth during the forecast period, mainly due to increasing prevalence of chronic diseases and rising adoption of home infusion therapy.
There are different types of products available in the home infusion therapy market including infusion pumps, intravenous sets, needleless connectors, and IV cannulas. Of these, the needleless connectors category is expected to showcase notable growth in the coming years, as it minimizes the risk of infection and transmission of diseases. Technological advancements in needleless connectors also supports its growing adoption across the globe. Infusion pumps are further classified as large volume, patient-controlled analgesia (PCA), elastomeric, syringe, enteral, insulin pumps, ambulatory infusion pumps, and others.
With the introduction of home infusion therapies, the patients are able to administer medicines themselves for different types of applications, such as enteral nutrition, anti-infective, pain management, specialty pharmaceuticals, chemotherapy, parenteral nutrition, general hydration, and others. Among these, home infusion therapy is most commonly utilized to administer anti-infective medicines for the treatment of infectious diseases.
North America held the largest share in the global home infusion therapy market in 2017, followed by Europe. The North American market is primarily driven by developed healthcare infrastructure, favourable reimbursement policies, presence of key established players, and increasing prevalence of chronic diseases.
The home infusion therapy market in Asia-Pacific is expected to grow at the fastest pace during the forecast period. This can be ascribed to the increasing healthcare expenditure, increasing awareness about technologically advanced home-based infusion therapies, and growing prevalence of chronic diseases in the regional market.
Home Infusion Therapy Market Dynamics
Growth Drivers
Increasing prevalence of chronic and infectious diseases, and technological advancements are some of the major factors fostering the growth of the home infusion therapy market.
The prevalence of chronic diseases, such as heart disease, cancer, stroke, respiratory disease and diabetes is increasing due to the alteration in lifestyle and lack of access to preventive care, across the globe, which positively impacts the growth of the home infusion therapy market. According to the World Health Organization (WHO), globally, chronic diseases are a leading cause of mortality, constituting 60% of all deaths. Among all the chronic diseases, cardiovascular diseases are the leading cause of deaths. Also, approximately 17.9 million people died from cardiovascular diseases in 2016, representing 31% of the global deaths.
Increasing prevalence of diabetes is also contributing to the growth of the market. Nowadays, it is one of the leading causes of death and has increased the risk of developing number of various other serious health problems. For instance, diabetes is the major cause of cardiovascular and kidney diseases, eye disorders, and stroke. According to the International Diabetes Federation (IDF), in 2017, 425 million people aged 20-79 years had diabetes, which is estimated to reach 629 million by 2045, globally. Thus, increasing number of diabetes cases supports the demand for home-based infusion pumps for administering insulin.
Increasing prevalence of infectious diseases is also spurring the demand for home-based infusion therapies. Tuberculosis, hepatitis B, and respiratory tract infections are some of the infectious diseases prevalent in the world, leading to an increase in the demand for medications for treating the same, which further drives the market demand for infusion pumps, intravenous sets, needleless connectors, and IV cannulas.
Growing geriatric population and increasing demand for home-based infusion therapies are some other factors contributing to the growth of the home infusion therapy industry. However, various risks associated with the use of these product, such as overdosage, reaction to the medications, and infection at the infusion site are hindering the growth of the market.
Home Infusion Therapy Market – Competitive Landscape
Key players in the home infusion therapy industry are taking initiatives to educate and promote home infusion therapy among the patients by providing educational tools and apps, that can be utilized for infusion therapies. For instance, In October 2018, Baxter International Inc. in collaboration with American Society for Parenteral and Enteral Nutrition (ASPEN) launched SmartPN tool to help reduce clinical malnutrition.
In April 2018, Baxter International Inc. opened new homecare pharmacy distribution center to serve the needs of the patients, such as home intravenous nutrition and renal dialysis in the north of England.
In April 2017, B Braun Melsungen AG, launched Easypump home infusion therapy app for healthcare professionals and patients. This app is designed as a resource to help infusion therapy nurses and patients to safely administer Easypump in out-patient as well as in-patient settings.
Some of the other players in the home infusion therapy market are Beckton Dickinson and Company, Terumo Corporation, Fresenius Kabi AG, Smiths Medical Inc., Kroger Specialty Infusion, ICU Medical Inc., JMS co. Ltd., and CareCentrix Inc.
The study provides historical as well the forecast market size data for various countries including the U.S., Canada, Germany, France, Italy, Spain, U.K., Japan, China, India, Brazil, Mexico, Saudi Arabia, and South Africa.
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