Home infusion therapy involves the administration of medication through an IV line or other delivery route at a patient's home. It offers patients convenient and cost-effective alternatives to treatment settings such as hospitals and clinics. Home infusion products include infusion pumps, intravenous (IV) sets, intravenous administration bags and tubing, and catheters. Home infusion therapy provides more comfort to chronic disease patients and speedy recovery. It is especially beneficial for patients suffering from infectious diseases, cancer, gastrointestinal disorder, and diabetes.
The global Home Infusion Therapy Market is estimated to be valued at US$ 2.8 Bn in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Rising adoption of home-based care services and preference for minimally invasive procedures have accelerated the demand for home infusion therapy. As per recent estimates, nearly 80% of all infusion therapy can be administered in a home care setting. Home infusion provides comfort to chronic disease patients while allowing them to continue normal activities. It also reduces healthcare costs compared to hospital visits or stays. Increased awareness about convenience and affordability of home infusion therapy is a major factor driving the growth of this market.
Segment Analysis
The global home infusion therapy market is dominated by hospital pharmacy segment. This can be attributed to the fact that infusion services provided by hospital pharmacies help in reducing healthcare costs by reducing unnecessary hospital re-admissions. The hospital pharmacy segment is able to provide the most reliable infusion services.
Key Takeaways
The global home infusion therapy market is expected to witness high growth over the forecast period 2024 to 2031.
Regional analysis comprises - North America region currently dominates the global home infusion therapy market. This can be contributed to the rising prevalence of chronic diseases such as cancer, diabetes and arthritis in countries like the US and Canada. The presence of key market players and availability of advanced healthcare infrastructure further supports market growth in the region.
Key players operating in the home infusion therapy market are B. Braun Melsungen AG, Baxter, Caesarea Medical Electronics, CareFusion Corporation, Fresenius Kabi AG, ICU Medical, Inc., JMS Co. Ltd., Smiths Medical, and Terumo Corporation.
No comments:
Post a Comment