The global home infusion therapy market is expected to reach
USD 28.3 billion by 2024, according to a new report by Grand View Research,
Inc. The rising significance of cost-containment in home infusion in comparison
with in-patient settings is a high-impact rendering driver of the home infusion
therapy market. Moreover, long-term cost savings in the treatment of chronic
diseases associated with the home infusion therapy is primarily driving the
growth of the industry during the forecast period.
As per a study published in
NCBI in 2011, a cost containment program targets cost reduction and study
associated patient’s preference pattern changes towards home infusion therapy.
As per this study, a short-term reduction of over USD 2,247 in costs was
achieved and a reduction of long-term costs of over USD 10,424 too, illustrating
that significant cost reductions can be achieved through the incorporation of
home infusion therapy.
Full research report on home infusion therapy market : http://www.grandviewresearch.com/industry-analysis/home-infusion-therapy-market
Moreover, the rising
penetration rate of home and alternate site services as a consequence of high
patient preference due to the high awareness & recognition of benefits
associated with the aforementioned are presumed to propel the growth of home
infusion therapy market over the forecast period. Furthermore, an extensive
pipeline of infusible drugs as a result of high R&D investment by global
market players is a key contributing factor towards presenting the home
infusion therapy market with lucrative growth opportunities during the forecast
period.
The rising number of product
innovations and initiatives to improve the safety associated with home infusion
therapy is anticipated to bolster the demand for home infusion therapy devices
market. For instance, infusion pump connectivity plays a key role when used
within home settings, which include remote programming and wireless capability
in infusion pumps that reduces the overall costs and ensures the safety of the
infusion process as this enables to the healthcare professionals to monitor the
patient in home settings remotely.
Get more information on home infusion
therapy market or request for TOC of this
research report at: http://www.grandviewresearch.com/industry-analysis/home-infusion-therapy-market/toc
Further key findings
from the study suggest:
·
On the basis of
application, the anti-infective segment held a substantial share of the home
infusion therapy market in terms of revenue of over 27.0% in 2015. Home-based
infusion of anti-infective is increasingly preferred by patients suffering from
chronic infections that cannot be properly treated through oral agents due to
low absorption through GI tract. Within anti-infective, the IV push method is
gaining popularity and is expected to experience growth in near future
·
Needleless
connectors are expected to witness a lucrative CAGR of over 9.0% over during
the forecast period. This can be attributed to the rising demand for the safety
of healthcare professionals as a result of the increasing number of cases of
needle injuries, thus bolstering the growth for needleless connectors
throughout the forecast period.
·
Incorporation of
Needlestick Safety and Prevention Act obligated Occupational Safety and Health
Administration (OSHA) to elevate the standards, is expected to further accentuate
the safety parameters thereby expected to boost the demand for needleless
connectors over the forecast period
·
North America
dominated the regional market for home infusion therapy in 2015with a share of
over 45.0% as a consequence of the presence of large geriatric population base
with low mobility profile. The presence of supportive healthcare
infrastructure, greater insurance coverage, and favorable reimbursement
policies laid out by regulatory bodies are also inducing significant
contributions towards industry growth in future.
·
Asia Pacific is
anticipated to emerge as a high growth market at a CAGR of over 10.5% overthe
forecast period. The presence of large unmet needs in the emerging economies of
Asia Pacific and growing initiatives over this region is impelling the growth
for home infusion therapy. For instance, introduction of private healthcare
establishments and nursing facilities with the advent of 12th Five Year Plan
(2011-2015) in China. In addition, the increasing number of joint ventures between
the U.S. health investors and Chinese senior care companies is expected to
present the region with potential growth opportunities.
·
Key players of
home infusion therapy market include B. Braun Melsungen AG, Fresenius Kabi AG,
Baxter, CareFusion Corporation and Hospira, Inc. Mergers & acquisitions, as
well as, strategic collaborations with home infusion healthcare providers are
the two key significant sustainability strategies employed by these prominent
market participants. For instance, in February 2015, CareFusion renewed
certifications for four separate patient care devices interoperability
standards associated with its Alaris system smart infusion platform.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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