Over
the recent years, home
infusion therapy market has witnessed an expeditious growth trend, courtesy
– the exemplary advancements in medical
technology space. The rise of innovative technological solutions has been
facilitated seamlessly by a robust regulatory framework, which has further
positively impacted the competitive prospects among the prominent industry
players. Furthermore, the technological progress being observed in infusion
pumps, which are increasingly being utilized in medical setups such as
hospitals, nursing homes, and homecare, shall propel the home infusion therapy
industry in the upcoming years.
To
cite the most recent development in this industry, one of the prominent medical
device manufacturers, Smiths Medical, has recently unveiled an upgraded version
of ambulatory infusion pump, which has now been equipped with wireless communication
linked to PharmGuard Server software that allows clinicians to securely employ
software updates, track the pump locations, manage the performance of pumps
remotely and download data reports. Such dynamic and smart product innovations
with high-degree of accuracy and precision are set to assist the swift
expansion of home infusion therapy market. As per a report published by Global
Market Insights Inc., home infusion therapy market size witnessed a valuation
of over $14 Billion in 2016.
Home
infusion therapy, in the recent past, has gained renowned traction across the
globe, as it has continuously been contemplated as the most appropriate
alternative for people suffering from chronic diseases. Concurrently, the
significant rise in the geriatric population around the globe, who are
vulnerable to chronic diseases such as cancer, diabetes, cardiovascular
ailments, and respiratory disorders have contributed to the growth of home
infusion therapy market in an unprecedented way.
Speaking
of the application landscape of home infusion therapy industry, the predominant
ones include hydration therapy, chemotherapy, anti-infectives, enteral
nutrition, specialty pharmaceuticals, among others. Out of these,
anti-infectives contributed to a sizeable revenue share in 2016. The investment
in anti-infectives has been stagnant in the last few years, as no new
anti-infective has been formed for community-acquired bacterial pneumonia
(CABP) in the last 15 years. This trend is set to change in the near future, as
a leading Irish biopharma Nabriva Therapeutics plc has succeeded in the initial
phases of evaluating a new anti-infective to treat CABP. Such encouraging
initiatives undertaken by industry players in anti-biotics and other applications
are bound to aid the home infusion therapy market expansion.
Browse key
industry insights spread across 95 pages with 52 market data tables & 9 figures
& charts from the report Home
Infusion Therapy Market in detail along with the table of contents:
Meanwhile,
it would be well advised to take note of the anticipated challenges that might
affect the home infusion therapy industry in the upcoming time period. The
industry has been marred by the haphazard, inadequate and complex reimbursement
system that has negatively impacted business growth. Add to it, the
inappropriate use of infusion therapy devices and improper dose administration
might severely hamper the growth potential of home infusion therapy industry.
Regionally,
the U.S. home infusion therapy market is expected to gain commendable momentum
over the forecast period, owing to the presence of prominent industry players
complemented with increasing demand for homecare facilities, simplified access
to healthcare, and suitable reimbursement policies. Speaking along similar
lines, the UK home infusion therapy industry, especially Germany, stands to
gain noteworthy benefits as the advancing infusion devices and their increased
usage in pain management has been encouraging.
The
home infusion therapy market is spanned by highly aggressive companies such as
Smiths Medical, Carefusion, Baxter, ICU Medical, JMS, Terumo, Caesarea Medical
Electronics, Fresenius Kabi, B.Braun Melsungen, to name a few. The predominant
industry players have coupled their product innovations and technological
advancements with robust mergers and alliances to form a strong framework to
accentuate sustained growth and expand the customer base. Citing an instance,
the world’s preeminent pure-play infusion firm, ICU Medical Inc., has recently
wrapped up its acquisition of Hospira Infusion Systems business from Pfizer
Inc., a pharmaceutical behemoth. This alliance strengthens the resolve of ICU
Medical Inc. to form a company with a complete intravenous therapy product
range from non-dedicated infusion sets to smart infusion pumps.
The
home infusion therapy industry anticipates further collaborations and
acquisitions of leading players with upcoming firm, in turn, boosting the
product and profitability portfolio of this domain. According to a report
published by Global Market Insights, Inc., home infusion therapy market is
forecast to expand at over 9% CAGR from 2017-2024.
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