Infusion therapy entails management of medicine through a catheter or needle. Home infusion therapy is utilized for the handling of these diseases for example diabetes, gastrointestinal diseases, cancer, acute infections cystic fibrosis and dehydration. It is permitted by physicians as well as managed by nurses and trained professionals. This therapy is utilized when the oral medication is not functional for curing of diseases.
The worldwide home infusion therapy devices market is projected to reach a market value of about US$ 1.51 Billion by the end of the year 2017 and registering a 6.8% CAGR forecasted period by 2025. The growth of the overall market is mainly fuelled by rising diabetes and cancer, rising occurrences of pain, surging geriatric population, encouraging settlements for home infusion therapy in addition to increasing awareness towards the use of these devices.
However, reported errors and immeasurable product recalls, lack of trained professionals and standard usage guidelines and lack of appropriate diagnosis/treatment alternatives for the ailments are some aspects that are likely to impede the overall growth of the home infusion therapy devices market in the coming years.
On the basis of product type, the market is segmented into infusion system pumps accessories, insulin pumps, disposable elastomeric pumps and electronic ambulatory pumps and PCA pumps. Disposable elastomeric pumps will be accounting for the biggest market share by dominating the overall market and exhibiting a robust CAGR during the eight-year forecast period.
On the basis of application, the market is categorized into chemotherapy, parenteral nutrition, antibiotic administration enteral nutrition, chemotherapy, parenteral nutrition, antibiotic administration, enteral nutrition and others. The parenteral nutrition is considered to be dominating over the anticipated period along with recording a robust CAGR among other segments.
The end user market has been segmented into two broad categories long-term care centers and home care setting. The home care setting will be the most lucrative during the forecasted period, in addition, will be recording the highest CAGR in comparison to long-term care centers.
The regions are segmented on the basis of Latin America, North America, Europe, APAC and MEA. North America is likely to lead the overall market in addition to expanding at a 7.1% CAGR through the assessment period. However, APAC will be the fastest growing region among others in terms of revenue in the overall market by exhibiting a CAGR of 7.4% during the assessment period.
Key Market Players
The prominent players operating in the overall market includes
- Baxter International Inc.
- Johnson & Johnson Private Limited (Animas Corporation)
- Becton, Dickinson and Company
- B. Braun Melsungen AG.
- Pfizer Inc.
- Terumo Corporation
- Fresenius Kabi AG
- Smith & Nephew
- F. Hoffmann-La Roche AG
- Micrel Medical Devices S.A.