The global home infusion therapy devices market is set for remarkable expansion, according to the latest industry report. Valued at USD 2.3 billion in 2023, the market is projected to grow at a compound annual growth rate (CAGR) of 6.6%, reaching an impressive USD 4.4 billion by 2033.
This significant growth is driven by several key factors reshaping the healthcare landscape. Advancements in medical technology and the evolving nature of patient care have fueled demand for home infusion therapy devices, allowing patients to receive quality treatment in the comfort of their homes. The adoption of cutting-edge technologies and practices by the medical industry has been instrumental in accelerating this trend.
One of the pivotal elements behind this market’s growth is the seamless integration of skilled medical professionals trained in the latest technologies. This ensures that patients benefit from top-tier care at home, further reinforcing the role of home infusion therapy devices in modern healthcare.
As the medical community continues to embrace innovative solutions, the potential for sustained growth in this market remains strong. The increasing demand for patient-centered care and the industry’s commitment to pioneering advancements create substantial opportunities for stakeholders.
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.).
Increased Market Attention: Delve into Detailed Trends and Analysis with Our Report!
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.
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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