Global Home Infusion Therapy Market to Surpass US$ 3,108.1Million by 2027, Says Coherent Market Insights (CMI)

SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global home infusion therapy market is estimated to be valued at US$ 1,995.3 million in 2020 and is expected to exhibit a CAGR of 6.5% during the forecast period (2020-2027).

Key Trends and Analysis of the Global Home Infusion Therapy Market:

Key trends in the home infusion therapy market includes increasing incidence of chronic and life threatening diseases such as diabetes, cancer, cardiovascular diseases and others, approvals of novel products, and strategic collaborations and acquisitions among key players. These factors are expected to aid growth of the market.

According to a report published by The International Diabetes Federation (IDF) in February 2020, around 463 million adults (20-79 years) had diabetes in 2019, and the number is expected reach 700 million by 2045. Moreover, according to the same source, diabetes caused 4.2 million deaths in 2019 and 79% of the global adult’s population living with diabetes in low- and mid-income countries.

Moreover, increasing approval of novel products is expected to drive the market growth during the forecast period. For instance, in April 2020, B Braun Melsungen received Emergency Use Authorization (EUA) from the U.S. FDA for the use of infusion pumps with nebulizers to treat COVID-19 patients. This has resulted in increased sales and customer base.

Furthermore, key players operating in the global home infusion therapy market are focusing on adoption of inorganic growth strategies such as acquisitions and collaborations to increase their market presence in the global market. For instance, in November 2019, ICU Medical, Inc. acquired Pursuit Vascular, a medical device manufacturing company. As a result of this acquisition, the company acquired the ClearGuard HD, a natural extension of their needle-free IV connector and other infection control technologies.

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Key Market Takeaways:

The global home infusion therapy market is expected to exhibit a CAGR of 6.5% during the forecast period owing to increasing incidence of cardiovascular diseases. For instance, according to the World Health Organization 2017 report, an estimated 17.9 million people died due to cardiovascular diseases (CVDs) in 2016, representing 31% of all global deaths, out of which, around 85% deaths were caused due to heart attack and stroke.

Among product type, the infusion pump segment accounted for the largest market share in 2020, owing to approval of novel products. For instance, in May 2018, Baxter International Inc. obtained the U.S. Food and Drug Administration (FDA) clearance of the Spectrum IQ Infusion System with Dose IQ Safety Software. The Spectrum IQ system is the first-of-its-kind designed specifically for bi-directional electronic medical records (EMR) integration with new exclusive features to help ensure correct medications and fluids are delivered to the patient.

Competitive Landscape:

Key players operating in the global home infusion therapy market are Becton, Dickinson and Company, B. Braun Melsungen AG, Nipro Corporation, ICU Medical, Inc., Baxter International Inc., Terumo Corporation, Smiths Medical, Fresenius Kabi AG, Eli Lilly and Company, JMS Co. Ltd., and NewIV Medical, Inc.

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Market Segmentation:

• Global Home Infusion Therapy Market, By Product Type:
  • Infusion Pumps
    • Ambulatory Infusion Pumps
    • Insulin Pumps
    • Syringe Pumps
    • Elastomeric Pumps
    • Patient Controlled Analgesics (PCA)
    • Volumetric Pumps
  • Intravenous Sets
  • IV Cannulas
  • Needleless Connectors
• Global Home Infusion Therapy Market, By Application:
  • Chemotherapy
  • Diabetes
  • Hydration Therapy
  • Pain Management
  • Post-transplant Therapies
  • Parenteral Nutrition Therapy
  • Others
• Global Home Infusion Therapy Market, By Region:
  • North America
    • By Country
      • U.S.
      • Canada
  • Latin America
    • By Country
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country
      • South Africa
      • Central Africa
      • North Africa

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.