PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1397263
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1397263
Infusion therapy has emerged as a leading pain relief treatment method, particularly for conditions where oral medications are less effective. Gastrointestinal diseases, diabetes, cancer-related pain, cystic fibrosis, and chronic dehydration are among the ailments effectively managed through infusion therapy. Home infusion therapy is gaining prominence, reducing the need for frequent hospital visits and improving medication adherence.
Infusion therapy devices are becoming increasingly adept at meeting complex patient needs, driving overall market growth. Patients are transitioning from conventional treatments to specialized home infusion therapy, with the National Infusion Association highlighting the cost-effectiveness of home-based therapy compared to hospitalization.
According to PMR, the demand for home infusion therapy devices is set to surge due to the expanding applications of infusion devices and the growing demand for them in the home care market. Factors such as a rising elderly population, a higher prevalence of chronic diseases, and innovations in therapeutic devices are further propelling market growth. However, challenges like administration-related risks, device malfunctions, misuse, and complex reimbursement policies may hinder market expansion.
The global home infusion therapy devices market is categorized by device type, infusion pump type, application, disease type, and region. Device types include intravenous sets, infusion pumps, and needleless connectors, with the latter expected to witness the highest growth.
Infusion pump types comprise syringe infusion pumps, ambulatory infusion pumps, implantable infusion pumps, insulin infusion pumps, enteral infusion pumps, volumetric infusion pumps, and patient-controlled analgesia (PCA) infusion pumps.
Applications of home infusion therapy devices encompass chemotherapy, anti-infective/antibiotics, enteral nutrition, pain management, total parenteral nutrition (TPN), and hydration infusion pumps, while disease types include cancer and diabetes.
Regionally, the global home infusion therapy devices market is segmented into North America, Asia, Europe, and the rest of the world (RoW). North America dominates the market, driven by the growing demand for infusion therapies and a burgeoning geriatric population. Factors like the rising incidence of cancer, AIDS, and diabetes further contribute to the demand for infusion therapy devices in the region.
In Europe, the acceptance of non-hospital procedures and a large base of elderly consumers requiring frequent infusion therapies drive market growth. The Asian market is anticipated to experience the fastest growth during the forecast period.
Key market participants 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. These companies are actively focusing on product innovations, as well as engaging in acquisitions, mergers, and partnerships to strengthen their market positions.