Home Infusion Therapy Market to Touch USD 86.89Billion by 2027;Rising Prevalence of COVID19 Pandemic to Promote Growth

The global homeinfusion therapy market size is likely to USD 86.89billion by the end of2027 owing to the increasing adoption of home medical services worldwide. In ahome infusion therapy setting, a patient receives all medical assistance athome including drugs and biologics via a subcutaneous or an intravenousadministrative route. According to a recent report by Fortune Business Insightstitled, “Home Infusion Therapy MarketSize, Share &Covid-19 Impact Analysis, By Product (Devices, Drugs, andServices) By Indication (Anti-Infective, Chemotherapy, Hydration Therapy,Enteral Nutrition, Total Parenteral Nutrition, Immunoglobulin Therapy, andOthers), and Regional Forecast, 2020-2027,” the value of this market was USD27.25 billion in 2019 and is expected to grow at a CAGR of 2.2% between 2020and 2027.

An Overview of the Impact of COVID-19 on this Market:

Theemergence of COVID-19 has brought the world to a standstill. We understand thatthis health crisis has brought an unprecedented impact on businesses acrossindustries. However, this too shall pass. Rising support from governments andseveral companies can help in the fight against this highly contagious disease.There are some industries that are struggling and some are thriving. Overall,almost every sector is anticipated to be impacted by the pandemic.

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Drivers & Restraints-

Lockdowns Amid COVID-19 Pandemicto Bode Well for the Market

The increasing prevalence of thegeriatric population and their vulnerability towards chronic diseases such ascancer, diabetes, and cardiac issues among others stands as major home infusiontherapy market devices. In addition to this, the increasing cases ofhospital-acquired infections are also propelling people to opt for medicalservices at home. This, coupled with cost-efficient home treatment fasterrecovery at home than hospitalsare likely to bode well for the market.

On the flipside, most of thedeveloping nations lack reimbursement structure and policy for home treatmentwhich ultimately increases the out-of-pocket expenditure. This, coupled with alack of proper medical assistance and limited sources in a home setting, maycause hindrance to the market. Nevertheless, the increasing number ofinnovations in the medical sector and the advent of devices such as portableinfusion pumps, and others are likely to create lucrative growth opportunitiesfor the market. Furthermore, the current pandemic of corona virus thatpropelled people to stay at home is projected to promote the home infusiontherapy market growth.

Segment-

Drugs Segment to Hold Dominance Owing to Increasing Incidences of Cancer

Based on segmentation by product, thedrugs segment earned the highest home infusion therapy market share on accountof the increasing number of immune diseases worldwide and the rising prevalenceof cancer. Besides this, the devices segment earned a 6.6% share and is likelyto witness significant growth in the coming years on account of increasingtechnological advancements in the delivery of home medication system forvarious purposes.

Regional Analysis-

North America to Dominate Market on Account of Rising Adoption ofInnovative Technologies

Regionally, North America emergedat the top with a revenue of USD 10.53 billion in 2019. The growth of thisregion is attributable to the development of delivery devices for homemedication and its increasing adoption. Besides this, the rising number ofpatients and rapid adoption of the latest technologies are factors responsiblefor the dominance of this region.

Besides this, the Asia Pacificmarket is anticipated to witness rapid growth in the forecast duration onaccount of the increasing prevalence of diabetes, heart issues, cancer, andother long-lasting diseases in the region.

Competitive Landscape-

Handful of Vendors Covering Majority Shares Attributed to MassiveInvestment on Innovative Devices

The global home infusion therapymarket is dominated by a handful of companies thereby depicting a consolidatednature of the market. These include Option Care Health Inc., Optum Inc.,Melsungen AG, and Braun. The dominance of these players is accountable for theexpansion of geographical footprint, major investments in the development ofinnovative devices, and infusion pumps.

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