Home Infusion Therapy Market Size By Product (Infusion Pump, Intravenous Sets, IV Cannulas, Needleless Connectors), By Application (Anti-infective, Hydration Therapy, Chemotherapy, Enteral Nutrition, Parenteral Nutrition, Specialty Pharmaceuticals), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Home infusion therapy is anticipated to witness a remunerative growth trend over the forthcoming years owing to the rising number of chronic diseases and an increasingly growing geriatric population. The home infusion is basically employed for managing complex conditions such as immune globulin therapy. Infusion therapy is considered as an alternative to the oral treatment, it involves administration of medications through the usage of a sterile catheter which is generally inserted into a vein. This therapy can be administered to a patient in a home setting or in outpatient infusion therapy centers by trained nurses.
Physicians generally prescribe an infusion therapies when the treatment of the patient includes a kind of drug referred as a biologic for short or a biologic response modifier; when the patient is not able to swallow oral medications. Also, when the condition of the patient is so critical that it needs the medication to be regulated directly into the patient’s bloodstream.
Infusion therapy is generally used to treat severe or chronic infections that do not respond to oral treatments like dehydration caused by diarrhea, vomiting, and nausea, diseases of the gastrointestinal tract, pain caused by cancers, as well as other Crohn’s disease. In addition, some of the diseases that are likely to respond to intravenous medications are congestive heart failure, multiple sclerosis, types of immune deficiency disorders, and some forms of arthritis.
The home infusion therapy market is segmented in terms of product, application, and regional landscape.
Based on product, the home infusion market is classified into needleless connectors, IV cannulas, intravenous sets, and infusion pump. Among these, the needleless connectors segment was valued at around $6.2 billion in 2019 and will continue to showcase appreciative growth. These devices offer improved safety, help in adhering to good clinical practices and enables smooth surgeries. The aforementioned factors will thus increase the product demand.
In terms of application, the home infusion market is categorized into specialty pharmaceuticals, parenteral nutrition, enteral nutrition, chemotherapy, hydration therapy, and anti-infective. Among these, the parenteral nutrition segment is projected to grow at around 12% over the estimation period. Increasing geriatric population base, presence of malnourished children and high natality rate across the globe, as they may face difficulties in consuming nutrition through oral route will further drive the parenteral nutrition segmental growth.
From a regional frame of reference, Latin America home infusion therapy market was valued at around $948 million in 2019 and will continue to show appreciative growth.
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