The global home infusion therapy devices market is on track to witness remarkable growth, with projections indicating a valuation of US$ 2.3 billion in 2023, escalating to an impressive US$ 4.4 billion by 2033. This surge is fueled by a notable compound annual growth rate (CAGR) of 6.6% throughout the forecast period, as revealed by the latest industry analysis.
Several factors are contributing to the increasing demand for home infusion therapy devices. The evolving landscape of the medical community, coupled with advancements in medical practices, and the steadfast commitment of the medical industry to innovative technologies, are key drivers propelling this growth trajectory. Furthermore, the seamless integration of qualified medical professionals well-versed in the latest medical technologies has further accelerated the expansion of this market, fostering an environment conducive to the global home infusion therapy devices market’s growth.
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One of the key drivers contributing to the market’s growth is the rising popularity of home infusion treatments, prompting manufacturers to expedite their manufacturing processes. The infusion therapy device market has witnessed a collaborative trend among multiple players, fostering inter-competitor support, directly influencing the dynamics of the global home infusion therapy devices market.
A critical aspect contributing to the market’s expansion is the increasing prevalence of diseases such as immunological deficiencies, cancer, and congestive heart failure, which necessitate infusion therapy over oral medication. Home infusion therapy is deemed more economical for individuals requiring long-term care, further fueling the demand for infusion therapy devices.
In the coming years, the global home infusion therapy devices market is expected to capture the attention of key investing entities, signaling substantial growth potential. The market dynamics are poised for further positive momentum, driven by ongoing advancements in medical technology and the commitment of industry stakeholders to meet the evolving healthcare needs of the global population.
As the industry evolves, FMI remains at the forefront, dedicated to providing cutting-edge home infusion therapy devices that align with the industry’s growth trajectory. With a commitment to innovation, quality, and meeting the evolving demands of the healthcare landscape, FMI is poised to contribute significantly to the continued success of the global home infusion therapy devices market.
Key Takeaways from Home Infusion Therapy Devices Market Study:
- By product type, infusion system accessories will hold around 45% of value share globally.
- Based on the application, antibiotic administration is leading with over 34% of the market share.
- Home care settings sales will dominate the home infusion therapy devices, with a market share of 65% during the forecast period.
- By region, the U.S. will dominate the global home infusion therapy devices market with a value share of around 37% during the forecast period.
- Followed by North America, Europe will be the second-largest leading region, with a value share of 93.2% during the forecast period.
- India is the dominant country in term of revenue for South Asia Home infusion therapy devices market, accounting for nearly 48% of market share in 2021.
- China holds leading position in East Asia and is expected to account for nearly 52% of market share.
“Growing prevalence of chronic diseases such as diabetes and cancer in the midst of COVID-19 pandemic and high risk of infection across hospitals encouraged key players to invest in new product launches. This is expected to enable growth in the market in the coming years” says a Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
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Who is Winning?
Key players are focusing on new product launches and approvals. Other growth strategies adopted by leading players include, agreements, and collaborations among key manufacturers. By focusing on these strategies, key players are expanding their geographic presence and strengthening their existing product portfolio.
For instance,
- In June 2019, Baxter International Inc. announced that Myxredlin that is the first and only ready-to-use insulin for IV infusion get the US FDA approval.
- In Jan 2019, Fresenius Kabi AG launched two colourful bags via white spiral cables to supply the nutrient solution for parenteral nutrition.
- In April 2017, B. Braun Melsungen AG announced the launch of home infusion therapy App named Easypump® for healthcare professionals and patients.
Key Companies Profiled:
- CVS/Coram
- Option Care Health
- CareFusion Corporation
- BriovaRx/Diplomat (UnitedHealth Optum)
- PharMerica
- Fresenius Kabi
- CU Medical, Inc.
- B. Braun Melsungen AG
- Baxter
- BD
- Caesarea Medical Electronics
- Smiths Medical
- Terumo Corporation
- JMS Co. Ltd.
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Key Segments Covered in the Home Infusion Therapy Devices Market Report:
By Product Type:
- Disposable Elastomeric Pumps
- Insulin Pumps
- PCA Pumps
- Electronic Ambulatory Pumps
- Infusion System Accessories
By Applications:
- Enteral Nutrition
- Parenteral Nutrition
- Chemotherapy
- Antibiotic Administration
- Others
By End User:
- Home Care Settings
- Long-Term Care Centers
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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