Sellbyville, Delaware, June 11, 2018 (GLOBE NEWSWIRE) --
U.S. Home Infusion Therapy Market is poised to surpass USD 13.5 billion by 2024; according to a new research report by Global Market Insights. Increasing rates of hospital acquired infections have impacted the market growth positively. In American hospitals, infections associated with health care account for around 1.7 million infections and 99,000 deaths every year. These infections lead to chronic diseases that require continuous monitoring; thus, accelerate demand for home infusion therapies.
Increasing number of immunocompromised patients that are more prone to infections will fuel industry growth over the coming years. Furthermore, growing preference for home infusion therapies due to ease and convenience will boost home infusion therapy market growth.
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Rising prevalence of chronic diseases is one of the major driver influencing industry growth. The need to address and manage chronic diseases such as cancer, bronchitis, asthma and diabetes will augment demand for home infusion therapies. In U.S., currently there are around 1,735,350 new cases of cancer, leading to rise in demand for home infusion therapy services that helps to subside side-effects of invasive chemotherapy. Furthermore, government initiatives and developmental decisions undertaken by American Healthcare Associations that to reduce price of home infusion therapies will propel industry growth.
Presence of home healthcare facilities such as home health care agencies, hospice and home care aide organizations as an alternative to hospitals and clinics will fuel industry growth. According to AARP, persons aged 50 years or older suffering with chronic disorders prefer independent living in homes over other alternatives. Low prices offered by home healthcare facilities have resolved the affordability issues faced by the geriatric population that have relatively low-income levels. Aforementioned factors coupled with increasing surgical procedures have flourished the growth of home infusion therapy market.
Browse key industry insights spread across 170 pages with 151 market data tables & 12 figures & charts from the report, “U.S. Home Infusion Therapy Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/...apy-market
Increasing geriatric population base drives the market growth. However, healthcare insurance policies developed by the policy providers such as Medicare and Medicaid provide insufficient reimbursement that proves to be a major restraint creating affordability issues for geriatric population suffering from chronic diseases.
Infusion pumps accounted for largest revenue share in 2017 due to rising number of baby boomers, highly susceptible to suffer from infections and requires continuous delivery of fluids for maintaining proper health. Growing demand for home infusion therapy services are anticipated to fuel business growth.
Anti-infectives business segment dominated the home infusion therapy market in 2017 and will witness similar trend in upcoming years owing to increasing prevalence of bacterial, viral and fungal infections. Growing incidences of skin infection along with affordable treatment costs will propel business growth over the coming years.
South Atlantic home infusion therapy market is anticipated to witness significant growth over the coming years owing to rising prevalence of nosocomial infections and chronic diseases. Increasing geriatric population, prone to infections due to reduced immunity will further boost industry growth. Also, growing rates of surgical procedures will have positive impact on the market demand.
The North East region will experience significant market growth due to an increase in bacterial and fungal infections stimulating demand for home infusion therapy. Favorable economic conditions in North Eastern region coupled with technological advancements enabling development of infusion therapies by introducing improvisations in medical devices will drive industry growth.
Some of the major industry players operating in U.S. home infusion therapy market are Amsino International, Baxter International, B.Braun, Becton Dickinson, Caesarea Medical Electronics, Fresenius Kabi, Halyard Health, ICU Medical, Moog, Smiths Medical, and Terumo Corporation.
Major industry players focus on developing superior products to sustain market competition. For instance, In September 2017, Baxter launched DeviceVue advanced asset tracking system for hospitals using the Sigma Spectrum Infusion System to track their infusion pumps through mobile phones. The strategy aimed at gaining complete knowledge about the market demand to achieve maximum profits by attaining economies of scale.
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