Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Home infusion therapy in basic terms can be define as administration of drugs or biological which involves the intravenous or subcutaneous administration to an individual at home. It offer patient the innovative source for healthcare option in the comfort of home. The home infusion therapy acts as safe and effective alternative to inpatient care for several therapies and diseases including acute and chronic. Besides, the market in North America is expected to experience rapid growth in market owing to rising requirement for home infusion therapy among geriatric population, growing HAI incidence and rising incidence of chronic diseases has fuelled the demand for market. The home infusion therapy market in North America is expected to witness the growth at rapid pace during the estimated time period (2021-2027)
The North America home infusion therapy market is driven by growing geriatric population as these age group population have increasing requirement for home infusion therapy where the patient can precise and safe take the therapy and medication according to diseases. Furthermore, home infusion therapy is driven significantly to reduce the incidence of HAI (hospital acquired infection). In addition, advancements in technology for the home infusion therapy market products with different features and according to requirement is expected to drive the market growth. Likewise, one of key factor for the market growth is rising prevalence of chronic disease. The diseases like cancer cases, heart diseases, copd, diabetes among others has propelled the market to huge extend.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the North America home infusion therapy market. In addition, complete analysis of changes on North America home infusion therapy market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The North America home infusion therapy market is expected to witness moderately positive growth for market as the region has increasing number of COVID-19 patients which has ultimately created rapid demand for market to specific reduce the hospital acquired infection in hospital further creating rising demand for home infusion therapy market.
The home infusion therapy market comprises of different market segment like product, application and country.
The home infusion therapy is available in market according different product including infusion pump, intravenous sets, IV cannulas, and needleless connectors. The infusion pump further includes sub segment like syringe infusion pump, ambulatory infusion pump, implantable infusion pump, insulin infusion pump and others. In North American, home infusion therapy market, infusion pump dominated during 2020 and likely to maintain its dominance over the forecast period. The factors contributing in home infusion therapy market growth are these are used to administer the major fluids including high risk medication. It helps in providing fluids in large or small amounts which has ultimately fuelled the demand segment and market in North America Besides, in infusion pump, syringe infusion pump followed by ambulatory infusion pump is expected to have increasing demand in market during the estimated time period. On the other hand, needleless connectors is expected to witness rapid demand in upcoming years.
The home infusion therapy market finds its major application in anti-infective, hydration therapy, chemotherapy, enteral nutrition, parenteral nutrition and others. Anti-infective application is expected to gain major market for North America home infusion therapy market. The growth of segment is driven by increases incidence of chronic and infectious diseases has boosted the demand for market in region. Adding to that, growing requirement for Anti-infective is due to as it helps to prevent and treat infection with antibacterial, antiviral, antifungal and antiparasitic medications. Also, growing awareness for home infusion therapy and different application features of anti-infective is expected to drive the market growth. Likewise, chemotherapy is expected to be fastest growing segment in North America home infusion therapy market owing to increasing burden of cancer patient, demand for various infusion pump, intravenous sets, and other products has fuel the demand for market.
North America home infusion therapy market is studied for the following countries like United States, Canada and Mexico. United States is anticipated to lead in the North America market for home infusion therapy attributing to rising geriatric population which has led the significant demand for home infusion therapy for safe administration of medication. Besides, rising incidence of different chronic diseases like heart diseases, cancer, diabetes, and other diseases has fuelled the market demand. In addition, increases cases of HAI i.e. hospital acquired infection has provided ample of growth opportunity for market. Likewise, Canada followed by Mexico is expected to experience emerging demand for market due to growing burden of chronic disease, and rising adoption of home infusion therapy market products is propelling the market growth to huge extend.
The key players in home infusion therapy market are B. Braun Melsungen AG, Becton, Dickinson and Company (BD), Hospira, Inc, ICU Medical, Inc, Caesarea Medical Electronics Ltd, Baxter International Inc, JMS Co. Ltd, Smiths Medical, Eli Lilly and Company, Fresenius Kabi, Terumo Corporation and Cosmed among others.
April 2021: Medtronic had unveiled its extended infusion set, the first set that can be worn to deliver insulin for up to seven days in selected European countries. Infusion sets are tubing that provides insulin to the body form a pump and then usually need to be changed every few days. The extended infusion set doubles the times a set can be worn, it allows user to safely stay on insulin pump therapy with fewer interruption and insertion while providing improved convince for diabetes management routines.
April 2020: B.Braun Medical Inc had announced the US Food and Drug administration issued Emergency use authorization of B. Braun’s perfusor space syringe infusion pump, infusomat space volumetric infusion pump and outlook ES pump system for use in the tracheal delivery of continuous nebulized medication into nebulizer to treat patient of all ages with or suspended of having Coronavirus diseases.
October 2017 : BioScrip, Inc had announced that it can now dispense and administer Radicava (edaravone), the first treatment option for amyotrophic lateral sclerosis(ALS) approved by the U.S. Food and Drug Administration (FDA) in more than 20 years. Radicava is commercialized in U.S. by Mitsubishi Tanabe Pharma America, Inc.
The report analyses the home infusion therapy market based on by product, application and country. The home infusion therapy is available in market according different product including infusion pump, intravenous sets, IV cannulas, and needleless connectors. The infusion pump further includes sub segment like syringe infusion pump, ambulatory infusion pump, implantable infusion pump, insulin infusion pump and others. In North American, home infusion therapy market, infusion pump dominated during 2020 and likely to maintain its dominance over the forecast period. The home infusion therapy market finds its major application in anti-infective, hydration therapy, chemotherapy, enteral nutrition, parenteral nutrition and others. Anti-infective application is expected to gain major market for North America home infusion therapy market. North America home infusion therapy market is studied for the following countries like United States, Canada and Mexico. United States is anticipated to lead in the North America market for home infusion therapy attributing to rising geriatric population which has led the significant demand for home infusion therapy for safe administration of medication.
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