Home Infusion Therapy Market to Exhibit 2.2% CAGR and Reach USD 86.89 Billion by 2027; Rising Prevalence of COVID19 Pandemic to Promote Growth, says Fortune Business Insights™
Key Companies Covered in the Home Infusion Therapy Market Research Report Are Optum, Inc., Infusystem, Option Care Health Inc., Moog Inc., CareCentrix, Inc., B. Braun Melsungen AG, Lincare Holdings Inc., Baxter, Promptcare, BriovaRx Infusion Services and other key market players.
Pune, Sept. 14, 2020 (GLOBE NEWSWIRE) -- The home infusion therapy market size was USD 27.25 billion in 2019 and is expected to grow at a CAGR of 2.2% and reach USD 86.89 billion by 2027.
In a home infusion therapy setting, a patient receives all medical assistance at home including drugs and biologics via a subcutaneous or an intravenous administrative route. According to a recent report by Fortune Business Insights titled, “Home Infusion Therapy Market Size, Share & Covid-19 Impact Analysis, By Product (Devices, Drugs, and Services) By Indication (Anti-Infective, Chemotherapy, Hydration Therapy, Enteral Nutrition, Total Parenteral Nutrition, Immunoglobulin Therapy, and Others), and Regional Forecast, 2020-2027,”.
*The Report Answers the Following Queries*
· What is the nature of the market and how fierce is its competition?
· What are the key industry insights to the market?
· What strategies are adopted by players to gain momentum in the market?
· How is the COVID19 pandemic helping the market to grow?
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*Drivers & Restraints-*
*Lockdowns Amid COVID-19 Pandemic to Bode Well for the Market *
The increasing prevalence of the geriatric population and their vulnerability towards chronic diseases such as cancer, diabetes, and cardiac issues among others stands as major home infusion therapy market devices. In addition to this, the increasing cases of hospital-acquired infections are also propelling people to opt for medical services at home. This, coupled with cost-efficient home treatment faster recovery at home than hospitals are likely to bode well for the market.
On the flip side, most of the developing nations lack reimbursement structure and policy for home treatment which ultimately increases the out-of-pocket expenditure. This, coupled with a lack of proper medical assistance and limited sources in a home setting, may cause hindrance to the market. Nevertheless, the increasing number of innovations in the medical sector and the advent of devices such as portable infusion pumps, and others are likely to create lucrative growth opportunities for the market. Furthermore, the current pandemic of coronavirus that propelled people to stay at home is projected to promote the home infusion therapy market growth.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this, too, shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling, and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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*Click here to get the short-term and long-term impact of COVID-19 on this Market.*
*Please visit: *https://www.fortunebusinessinsights.com/home-infusion-therapy-market-102989
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*Regional Analysis-*
*North America to Dominate Market on Account of Rising Adoption of Innovative Technologies*
Regionally, North America emerged at the top with a revenue of USD 10.53 billion in 2019. The growth of this region is attributable to the development of delivery devices for home medication and its increasing adoption. Besides this, the rising number of patients and rapid adoption of the latest technologies are factors responsible for the dominance of this region.
Besides this, the Asia Pacific market is anticipated to witness rapid growth in the forecast duration on account of the increasing prevalence of diabetes, heart issues, cancer, and other long-lasting diseases in the region.
*Competitive Landscape-*
*Handful of Vendors Covering Majority Shares Attributed to Massive Investment on Innovative Devices*
The global home infusion therapy market is dominated by a handful of companies thereby depicting a consolidated nature of the market. These include Option Care Health Inc., Optum Inc., Melsungen AG, and Braun. The dominance of these players is accountable for the expansion of geographical footprint, major investments in the development of innovative devices, and infusion pumps.
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*Quick Buy - Home Infusion Therapy Market Research Report: *https://www.fortunebusinessinsights.com/checkout-page/102989
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*Notable Industry Developments of this market include:*
*July 2019 – *Food and Drug Administration approved the first and ready-to-use insulin called Myxredlin manufactured by Baxter.
*December 2019 – *Diplomat and Optum Inc. entered into a partnership for specialty infusion and pharmaceutical services in the U.S. The key objective behind this merger strategy is to serve patients with chronic diseases with therapeutic measures such as oncology and immunology in the entire U.S.
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*Fortune Business Insights™ lists out the names of market manufacturers. They are as follows:*
· Optum, Inc.
· Infusystem
· Option Care Health Inc.
· Moog Inc.
· CareCentrix, Inc.
· B. Braun Melsungen AG
· Lincare Holdings Inc.
· Baxter
· Promptcare
· BriovaRx Infusion Services
· Other players
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*Have Any Query? Ask Our Experts:* https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/home-infusion-therapy-market-102989
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*Home Infusion Therapy Market Segmentations:*
*By Product*
• Devices
• Drugs
• Services
*By Indication*
• Anti-Infectives
• Chemotherapy
• Hydration Therapy
• Enteral Nutrition
• Total Parenteral Nutrition
• Immunoglobulin Therapy
• Others
*By Geography*
• North America (the U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
• Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)
• The Rest of the World
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