GMI

Home Infusion Therapy Industry forecast to show 9% CAGR growth by 2023

Press Release   •   Jan 13, 2017 01:31 EST

The Home Infusion Therapy is only advisable for the treatment of certain life threatening diseases when oral medicines cannot prove effective or when the patient fails to respond to the medicines or treatment. As per industry analysis by Global Market Insights Inc. in the year 2015, the home infusion market valued at USD $13.2 billion and will grow at CAGR 9% till the year 2023.

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Increase in the frequency of unceasing disorders accompanied by increasing population is the key factor driving the home infusion therapy industry size. Also the industry is budding due to the increase in the number of hospitalizations every year due to the infectious diseases. As per WHO (World Health Organization) every year around 60% people die due to respiratory diseases, cancer, cardiovascular disorders, diabetes and other life threatening diseases. By the year 2020, this number is expected to increase to 73%, which means the demand of technological developments used in the home infusion therapies will witness boost.

North America remains the largest regional industry for the home infusion market which is forecasted to exceed USD $11.3 billion by the year 2023. Various aspects in North America make the market more favorable, like advanced healthcare infrastructure, infusion therapy reimbursement for home care facilities, growing trend of people preferring home care due to increased awareness are the key factors. A growth of 10.6% in the revenue is forecasted by the year 2023 in the Asia Pacific market, especially in Japan due to high prevalence of chronic diseases because of unhealthful lifestyle and existence of elderly population.

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Latin America home infusion therapy industry share recorded revenue of USD $568.7 million in the year 2015 and is likely to grow at over CAGR 10.3% in coming year.

The home infusion therapy market share is very competitive and some top players entering into joint ventures. Some prominent names are Fresenius Kabi AG, Baxter, Inc. B. Braun Melsungen AG and ICU Medical.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.