Home Infusion Therapy Devices Market valuation is expected to total US$ 3.8 Bn by the end of 2031

According to a recent study by Future Market Insights (FMI), sales of home infusion therapy devices are expected to top US$ 2.0 Bn in 2021, growing at a CAGR of over 6.5% during the forecast period (2021-2031).

Home infusion therapy devices are used for the intravenous administration of medicines. It is commonly prescribed for patients with serious infections and specialized diseases when orally administered medicines are not or comparatively less effective.

Application of home infusion therapy devices is increasing with the rising number of surgeries conducted across the globe. Post-surgery pain management at home can be done with the help of home infusion therapy devices.

Besides this, rising healthcare expenditure and growing awareness regarding the risk and infection amidst the outbreak of COVID-19 is driving the demand of home infusion therapy devices.

Key Takeaways from Home Infusion Therapy Devices Market Study

• By product type, infusion system accessories will hold around 45% of value share globally.
• Based on the application, antibiotic administration is leading with over 34% of the market share.
• Home care settings sales will dominate the home infusion therapy devices, with a market share of 65% during the forecast period.
• By region, the U.S. will dominate the global home infusion therapy devices market with a value share of around 37% during the forecast period.
• Followed by North America, Europe will be the second-largest leading region, with a value share of 93.2% during the forecast period.
• India is the dominant country in term of revenue for South Asia Home infusion therapy devices market, accounting for nearly 48% of market share in 2021.
• China holds leading position in East Asia and is expected to account for nearly 52% of market share.

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“Growing prevalence of chronic diseases such as diabetes and cancer in the midst of COVID-19 pandemic and high risk of infection across hospitals encouraged key players to invest in new product launches. This is expected to enable growth in the market in the coming years” says a FMI Analyst.

Who is Winning?

Key players are focusing on new product launches and approvals. Other growth strategies adopted by leading players include, agreements, and collaborations among key manufacturers. By focusing on these strategies, key players are expanding their geographic presence and strengthening their existing product portfolio.

For instance,

• In June 2019, Baxter International Inc. announced that Myxredlin that is the first and only ready-to-use insulin for IV infusion get the US FDA approval.
• In Jan 2019, Fresenius Kabi AG launched two colourful bags via white spiral cables to supply the nutrient solution for parenteral nutrition.
• In April 2017, B. Braun Melsungen AG announced the launch of home infusion therapy App named Easypump® for healthcare professionals and patients.

The key market players profiled by FMI include Becton, Diciknson & Company, B.Braun Melsungen AG, Baxter International, Fresenius Kabi, Terumo Corporation, ICU Medical, Nipro Corporation, Smiths Medical, Micrel Medical Devices SA, Moog Inc., JMS Co.Ltd., Intera Oncology, and Others Top-up.

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Key Questions Answered in Report

• How much is the home infusion therapy devices market worth?

The home infusion therapy devices market is expected to surpass US$ 2.0 Bn in 2021.

• What is the demand outlook of the home infusion therapy devices market?

Home infusion therapy devices are projected to expand at a CAGR of 6.5% between 2021 and 2031.

• What are the key trends shaping home infusion therapy devices market?

Technological advancement and launch of user-friendly devices from leading brands are some of the trends that will fuel the demand for home infusion therapy devices.

• What is the market share of the top players in the home infusion therapy devices market?

Top players are expected to contribute nearly 85.5% of the overall global market share.

• Which are the top 5 countries driving demand for home infusion therapy devices?

U.S., China, Germany, U.K., and Japan are the top 5 countries that are driving the demand for.

• At what rate will the sales of home infusion therapy devices rise in Europe?

Europe home infusion therapy devices market is forecast to grow at a CAGR of 6.2% in 2021- 2031.

• What is the outlook for home infusion therapy devices market in East Asia?

The East Asia market is set to exhibit robust growth at a CAGR of over 7.3% during the forecast period.

• Which companies are key producers of home infusion therapy devices?

Becton, Diciknson & Conmpany, B.Braun Melsungen AG, Baxter International,

Fresenius Kabi, and Terumo Corporation are key producers in this market.