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(Medical-NewsWire.com, March 03, 2017 )
Infusion therapy has become a popular pain relieve treatment method, especially for diseases where oral medication is least effective. In cases of gastrointestinal diseases, diabetes and cancer-related pain infusion therapy is common. Moreover, infusion therapy is equally effective in treating disorders such as cystic fibrosis and chronic dehydration. Home infusion therapy cuts on frequent hospital visits and improves medicine adherence. Some of the commonly used infusion devices for administration of medications include needleless connectors, infusion pump, and intravenous set. In 2014, the global home infusion therapy devices market was valued at US$ 15,905.1 Million. The market is estimated to surpass to US$ 26,747 Million by 2020, expanding at 9% CAGR over 2014-2020.
Home infusion therapy devices are efficiently putting up with intricate patient requirements, which in turn is reflecting on the growth of the overall market. Patients are switching from conventional treatments to specialty infusion therapy treatments such as the home infusion therapy. The National Infusion Association stated that hospitalization treatment is more expensive compared to home infusion therapy.
PMR indicates that the demand for home infusion therapy devices will gain traction in the near future due to widening application spectrum of infusion devices coupled with growing demand for infusion devices in home care market. Moreover, increasing geriatric population, higher prevalence of prolonged diseases and novelty in such therapeutic devices are additional factors supplementing the growth of the overall market. In contrast, associated risks during administration of medication, irregularity in functioning of infusion devices, misguided use of infusion devices and complex reimbursement policies may inhibit the market growth.
The global home infusion therapy devices market has been categorized on the basis of device type, infusion pump type, by application, by type of disease and by region.
Based on device type, the market is segmented into intravenous set, infusion pump and needleless connector. The needleless connectors segment is expected to witness the highest growth over forecast period. On the basis of infusion pump type, the market is segmented into syringe infusion pump, ambulatory infusion pump, implantable infusion pump, insulin infusion pump, enteral infusion pump, volumetric infusion pump and patient-controlled analgesia (PCA) infusion pump. By application, the market is segmented into chemotherapy, anti-infective/antibiotics, enteral nutrition, pain management, total parenteral nutrition (TPN) and hydration infusion pump. Based on disease type, the market is segmented into cancer and diabetes.
On the basis of region, the global home infusion therapy devices market is segmented into four key regions namely North America, Asia, Europe and rest of the world (RoW). North America dominates the global market for infusion therapy devices, which is attributed to the growing demand for infusion therapies in the region. In addition, factors such as growing geriatric population and higher incidences of cancer, AIDs and diabetes are further influencing the demand for infusion therapy devices in North America. In Europe, demand for home infusion therapy devices is driven by the growing acceptance for non-hospital procedures and the large base of geriatric consumers who require infusion therapies at frequent basis. Further, the market in Asia is anticipated to grow at the fastest rate during the forecast period.
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Key market participants identified in the global home infusion therapy devices market include B. Braun Melsungen AG, Hospira, Inc., CareFusion Corporation, ICU Medical, Inc., Caesarea Medical Electronics Ltd., Baxter International Inc., and JMS Co. Ltd. Most of the companies are focusing on product innovations and acquisitions, mergers and partnerships in order to strategically improve their market position.
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Persistence Market Research
Rahul Singh
+1-646-568-7751
rahul@persistencemarketresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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