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.
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 caHome Infusion Therapy Market is Appraised to be Valued US$ 26,747.8 Mn by 2020ncer 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 cost-efficient 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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