Home Infusion Therapy Market in U.S. to Hit $16.5 Bn by 2026: Global Market Insights, Inc.
Some of the major home infusion therapy market players in U.S. include Amsino International, Becton Dickinson, Baxter International, Caesarea Medical Electronics, Halyard Health, ICU Medical, Moog and Smiths Medical.
SELBYVILLE, Del., May 26, 2020 (Newswire.com) - Global Market Insights, Inc. has recently added a new report on the home infusion therapy market in United States which estimates the market valuation for home infusion therapy in the region will cross US$ 16.5 billion by 2026. The rising prevalence of chronic diseases such as diabetes, cancer and chronic respiratory pulmonary disease (COPD) have increased the demand for home infusion therapy in the U.S.
For instance, many cancer patients require intravenous nutrition, hydration or pain medication. These medications can be administered at home, thereby reducing the cost of treatment. According to a recent statistic by the American Cancer Society, in 2019, there were around 1.6 million new cancer cases diagnosed across the country. Thus, owing to such a large patient pool, the U.S. home infusion therapy market will see robust growth in the upcoming years.
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The growing geriatric population will positively influence market growth as the aging population is more prone to various chronic diseases. For instance, according to recently published data, approximately 80% of older adults suffer from chronic diseases. Thus, due to the higher risk of diseases for the aging population across the country, the U.S. market will witness significant growth in the future.
Apart from cancer and cardiovascular diseases, hospital-acquired infections are considered to be one of the foremost reasons for mortality across the country. Hospital-acquired infections spread at a greater speed owing to the weak immune system and poor conditions of the patients in the hospitals. For instance, according to recently published data by the Centers for Disease Control and Prevention, it is estimated that over 1.7 million infections are associated with hospital-acquired infections (HAI) on an annual basis. Thus, in order to reduce nosocomial infections across the country, the shift toward home healthcare has augmented the growth of the home infusion therapy market.
Additionally, due to factors such as increasing healthcare costs and growing need for affordable treatment options, various companies will focus on providing products and services for home healthcare. Thus, the aforementioned factors will contribute to market growth over the analysis timeframe.
The needleless connectors segment was valued at around USD 2.5 billion in 2019 and is expected to showcase significant growth over the forecast period. Rising demand for efficient and effective intravenous blood withdrawal and drug administration techniques is anticipated to increase the adoption of needleless connectors in the U.S. In addition, the segmental growth is attributed to the introduction of new needleless connectors that can minimize the risk of catheter-related bloodstream infections. Thus, owing to the aforementioned factors, the market will witness significant growth in the upcoming years.
Browse key industry insights spread across 250 pages with 292 market data tables & 15 figures & charts from the report, “U.S. Home Infusion Therapy Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
The parenteral nutrition segment held a significant market share in 2019 and is estimated to grow at a CAGR of 10.9% in the projected years. The segmental growth is attributed to factors such as the presence of large number of malnourished children and growing proportion of premature babies. In addition, upsurge in the number of cancer patients that require administration of some nutrients to increase energy, hydration and strength will positively contribute to the market growth.
North East U.S. home infusion therapy market was valued at around USD 1.5 billion in 2019 and is projected to witness a significant growth rate over the forecast period. The high growth is attributed to the presence of a large number of pharmacies providing home infusion therapy services across the zone. Additionally, a growing focus of government toward home infusion therapy-related services will further boost the zonal growth. In addition, the surge in the number of nosocomial infections in hospitals will enable patients to receive treatments in alternate facilities thereby, enhancing market demand. Hence, owing to the advanced quality and cost-effectiveness of home infusion therapy, the zonal will show considerable growth in the upcoming years.
Some major findings of the U.S. home infusion therapy market report include:
- Increasing prevalence of chronic diseases across the country will positively impact the U.S. home infusion therapy market.
- Growing geriatric population and presence of homecare facilities for the patients will contribute to the market growth.
- Competitors focus on new product launches, strategic acquisitions, collaborations and partnerships in a bid to capture market share and strengthen revenue generation.
Some of the prominent players in the U.S. home infusion therapy industry are Baxter International, Amsino International, Becton Dickinson, Halyard Health, ICU Medical, Moog and Smiths Medical, among others. These players are majorly focusing on numerous strategies such as new product launches, partnerships, and acquisitions. For instance, in April 2017, Becton, Dickinson and Company acquired the Caesarea Medical Electronics (CME) that manufactures infusion pump systems. This acquisition increased the BD’s infusion portfolio and further assisted in revenue generation.
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Partial chapters of report table of contents (TOC):
Chapter 3. U.S. Home Infusion Therapy Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry impact forces
3.3.1. Growth drivers
188.8.131.52. Growing hospital-acquired infections
184.108.40.206. Rising prevalence of chronic diseases
220.127.116.11. Technological advancements
18.104.22.168. Growing geriatric population
22.214.171.124. Presence of homecare facilities
3.3.2. Industry pitfalls & challenges
126.96.36.199. Dearth of reimbursement
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By application
3.5. COVID-19 impact analysis
3.6. Home infusion therapy industry common costs and profit margins analysis
3.6.1. Common cost
188.8.131.52. Relative cost of home infusion therapy, by application
184.108.40.206. Per day cost-saving, hospital vs home
220.127.116.11. Average cost of infusion therapy, by drug cost by site of service vs cost of administration
3.6.2. Industry profit margin scenario
3.7. New drug approval scenario, 2018
3.7.1. Major disease indications
18.104.22.168. Rare diseases
22.214.171.124. Infectious diseases
126.96.36.199. Neurological disorders
188.8.131.52. Women’s health
184.108.40.206. Cancer and blood disorders
3.7.2. New drug approvals, 2009-2018
220.127.116.11. List of new drug approvals, 2018
3.8. Number of infusion therapy patients, 2015-2026
3.9. Number of patients, by therapy venue, 2015-2026
3.10. Number of patients, by disease condition, 2015 – 2026
3.10.1. Number of patients, by acute condition 2015 -2026
3.10.2. Number of patients, by chronic condition 2015 -2026
3.11. Business Model
3.11.2. Fresenius SE & CO. KGaA
3.11.3. Terumo Corporation
3.12. Reimbursement scenario
3.12.1. Public payer reimbursement scenario
3.12.2. Private payer reimbursement scenario
3.12.3. Home care reimbursement models
3.12.4. Current reimbursement trends
3.12.5. Future reimbursement trends
3.12.6. Future reimbursement billing
3.12.7. Nutritional additives
3.12.8. Reimbursement or billing scenario by companies
3.12.9. Overall market scenario
3.13. Regulatory Landscape
3.14. Porter’s analysis
3.15. Competitive landscape, 2019
3.15.1. Company matrix analysis, 2019
3.16. PESTEL analysis
Browse complete report table of contents @ https://www.gminsights.com/toc/detail/us-home-infusion-therapy-market
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Categories: Healthcare Technology