The Global Home Infusion Therapy Devices Market held a market value of USD 20.1 Billion in 2017 and is projected to grow at a CAGR of 7.1% by 2024. Home infusion therapy devices are devices that are used to deliver medications through a needle or catheter into a vein inside the home setting.
Home Infusion Therapy Devices Market Segmentation
The global home infusion therapy devices market has been segmented into product and application.
By product, the market has been segmented into infusion pumps, intravenous sets, IV cannulas, needleless connectors, elastomeric pumps, and others. The intravenous sets segment is expected to register the highest CAGR during the forecast period due to growing demand.
Based on application, the market has been segmented into anti-infectives, endocrinology, enteral nutrition, chemotherapy, hydration therapy, parenteral infusion, and others.
Home Infusion Therapy Devices Market Key Players
Some of the prominent players in the global home infusion therapy devices market are B. Braun Melsungen AG, Fresenius Kabi AG, Baxter International Inc., Johnson & Johnson Private Limited, Pfizer Inc., Terumo Corporation, Smith & Nephew, and Care Fusion Corporation.
Home Infusion Therapy Devices Market Regional Analysis
On a regional basis, the Americas is anticipated to dominate the global home infusion therapy devices industry owing to the owing to increasing geriatric population, high prevalence of various chronic diseases, and many diagnostic imaging centers. Additionally, many surgical procedures, along with the fast adoption of technologically advanced home care products is driving the growth of the market. For instance, according to the Center for Diseases Control and Prevention, approximately 46.5 million surgical procedures are performed every year in the US. Additionally, according to the United States Census Bureau, around 49.2 million adults aged 65 and above were present in the US as of 2016.
Europe accounts for the second largest market and holds a healthy share in the global home infusion therapy devices market due to major driving factors like availability of advanced treatment facilities, increasing healthcare expenditure, and flourishing medical device industry due to the presence of major market players.
Asia-Pacific is expected to be the fastest growing market, owing to the huge patient pool, a faster adaptation of healthcare technology, government initiatives to increase the healthcare quality, and availability of favorable insurance policies.
The Middle East & Africa is expected to show the least growth in the home infusion therapy devices industry due to some major factors such as lack of awareness, limited access, and availability of treatment facilities. In the Middle East, the UAE and Saudi Arabia is the largest market share owing to the development of the healthcare industry and the rising availability of specialty care centers.
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