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U.S. Home Infusion Therapy Market to Witness Substantial Gains| Outlook 2018-2024

Author : Rahul Sankrityayan | Published Date : 2019-03-25 

Global U.S. Home Infusion Therapy Market is set to exceed USD 13.5 billion by 2024; according to a new research report by Global Market Insights. Technological advancements such as automations in the medical devices have fuelled growth of U.S. home infusion therapy market. These technological advancements enable improvisations in the existing medical products thereby enhancing user experience. For instance, the infusion pumps used in the home infusion therapy have been modified into smart infusion pumps to reduce dosage errors that may otherwise occur while using conventional infusion pumps. Government initiatives such as increase R&D funding to facilitate modifications in infusion therapy products will propel business growth.

Infusion pump segment held around 51% in U.S. Home Infusion Therapy Market share in 2017 and is estimated to grow at a CAGR of 9.8% over the forecast timeline. Growth is attributed to modifications incorporated in infusion pumps that have reduced errors while administering the fluids in patient’s body. Rising prevalence of diseases and surgical procedures have escalated demand for infusion pumps.

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Needleless connectors segment will grow at a CAGR of 10.5% over the forecast period due to growing demand for hydration therapies and rising prevalence of diseases such as malaria, dengue and others that requires continuous supply of fluids. Patients suffering from chronic conditions require continuous supply of medical accessories such as needleless connectors thereby will accelerate business growth over the forecast timeframe.

Anti-infectives accounted for over 27.5% market share in 2017 and is anticipated to continue dominating the industry over the upcoming years. Growing rates of bacterial, viral and other infections coupled with rising rates of hospital acquired infections escalate the demand for anti-infectives therapy enhancing overall industry growth. Parenteral nutrition segment will witness lucrative growth over the coming years owing to increasing demand for home infusion therapies. Around 40,000 people in U.S. receive home parenteral nutrition safely through variety of catheters. The therapeutic benefits as well as treatment against poor functioning of gastro-intestinal tract disorders through parenteral nutrition should propel its demand over the forecast timeframe.

Estimates suggest, the proportion of senior population (aged 65 years and above) in the U.S. is expected to increase from 15% in 2016 to more than 20% by 2050. Statistics put forth by World Atlas further quotes that the overall elderly populace in the U.S. would be over 98 million by 2060. The growing demand of these therapies by the elderly population is majorly attributed to the ease and convenience ordered by the approach. 
 
Another driving force catalyzing the expansion of U.S. home infusion therapy market is increased prevalence of chronic diseases and hospital acquired infections. According to a report by CDC, healthcare associated infections (HAIs) unfortunately affects nearly 5% to 10% of the hospitalized patients in the U.S. annually. Reportedly, the 1.7 million HAIs annually result in 99000 casualties and an estimated USD 20 billion as healthcare costs.
 
This mammoth prevalence is prompting regional healthcare market players to redefine the way infusion drugs are delivered in home, thereby creating lucrative growth avenue for U.S. home infusion therapy market. Also, it has been observed that patients suffering from chronic diseases like cancer are inclining more toward home infusion therapies, in a bid to neutralize the side effect of invasive chemotherapy.

Speaking of the competitive spectrum, home infusion therapy market in the U.S. is inclusive of renowned biggies like Amsino International, Becton Dickinson, ICU Medical, Moog, Baxter International, Smiths Medical, and Fresenius Kabi. From what has been observed from the recent trends, a majority of these players are taking laudable interests in product innovations to consolidate their market stance in the strategic landscape. Baxter International’s yesteryear launch of a DeviceVue advanced asset tracking system is a vital testament to the aforementioned declaration. 

Leading biotechnology company Shire adopts BLI’s Beacon OptoFluidic platform

Recently in January 2018, BLI announced that Shire is implementing the Beacon Platform to accelerate their CLD process. Reports reveal that the company’s decision was based on an experiment and study that equated their existing cell line development workflow to the workflow results obtained using Beacon.

Daiichi Sankyo to work with BLI’s Beacon™ OptoFluidic

BLI in October 2017 announced that it will be working with the global pharmaceutical industry player Daiichi Sankyo to focus on creating CLD workflow efficiencies and fast tracking the drug development process. According to sources, the program includes evaluating and predicting the stability of clones, establishing monoclonality, and screening a pool of recently transfected CHO cells.

Pfizer to invests in mAb discovery with BLI’s Beacon tech

In a recent news snippet released in January 2018, it has been reported that Pfizer is leveraging BLI’s Beacon platform to advance its gene editing programs and monoclonal antibody discovery.

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U.S. Home Infusion Therapy Market by Product

Infusion pump
Intravenous sets
IV cannulas
Needleless connectors

U.S. Home Infusion Therapy Market by Application

Anti-infectives
Hydration therapy
Chemotherapy
Enteral nutrition
Parenteral nutrition
Specialty pharmaceuticals

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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