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What Factors are propelling the growth of Home Infusion Market?
Continuous advancements in home infusion therapy, including the availability of care workers, remote patient management and transparency about the quality of care, has been assisting the industry growth ahead.
Rapid technical improvements in intravenous equipment, as well as favourable government laws for older people, have boosted demand for home infusion therapy devices, which has had a substantial influence on market growth. Furthermore, the rising incidence of chronic diseases including cardiovascular disease, orthopaedic disease, diabetes, and cancer, among others, is expected to boost the market ahead.
Which Region is projected to Offer the Largest Opportunity for Home Infusion Therapy?
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CVS/Coram, Option Care Health, BriovaRx/Diplomat (UnitedHealth Optum), PharMerica, Fresenius Kabi, ICU Medical, Inc., B. Braun Melsungen AG, Baxter, BD, Caesarea Medical Electronics, Smiths Medical, Terumo Corporation, JMS Co. Ltd. are some of the key players in the global home infusion therapy market. One of the key factors boosting industry rivalry among market rivals is the rapid use of contemporary healthcare technologies for improved healthcare services. To retain market share and broaden their product range, significant players commonly adopt techniques such as mergers, acquisitions, and new product releases.
Some of the recent developments of key Home Infusion Therapy providers are as follows:
- In May 2021, Smiths Medical and Ivenix, Inc. announced a partnership to deliver a comprehensive range of infusion management solutions to the U.S. market. The goal of this partnership is to enhance infusion administration and patient safety.
- In March 2021, PromptCare purchased NBN Infusions, Inc, a home infusion and respiratory treatment service provider located in New Jersey. NBN Infusions, Inc. specialises in providing infusion treatment to critically ill patients. PromptCare will gain market share in the Northeastern United States as a result of this transaction.
- In December 2021, Baxter International announced the purchase of Hillrom. It will help the firm extend its global reach while also integrating medical device innovations to improve patient care, save costs, and streamline operations.
- In February 2020, Avoset created a homecare system, AvosetGO, an infusion pump device with embedded touch displays that can be connected and monitored via smart devices.
- In March 2021 Terumo and Glooko, a company that creates remote patient monitoring software and mobile apps, formed a technical agreement to provide diabetes data solutions throughout the world. As a result of the collaboration, data from Terumo’s diabetes care devices will be linked into Glooko’s diabetic data management platform, Diasend.
- In May 2020, the Australian Therapeutic Goods Administration awarded the Evo IQ Syringe Infusion System CE marking and marketing approval.
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>Market Segments Covered in Home Infusion Therapy Industry Analysis
- By Product Type :
- Infusion Pumps
- Other Infusion Pumps
- Intravenous Sets
- IV Cannulas
- Needless Connectors
- Infusion Pumps
- By Application Type :
- Hydration Therapy
- Enteral Nutrition
- Parenteral Nutrition
- Specialty Pharmaceuticals
- Other Applications
- By Region :
- North America
- Latin America
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