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Description
Home Infusion Therapy Devices Market size was valued at USD 23.3 billion in 2021 and is expected to reach a value USD 53.7 billion by 2028, at a CAGR of 11% during the forecast period 2022-2028. Infusion therapy has become a common technique of pain relief, particularly for conditions when oral medicine is ineffective. The medication is frequently given intravenously or subcutaneously in this method. Patients are converting from traditional therapies to specialised infusion therapy treatments as a result of technological advancements. Home infusion therapy devices are used to administer drug solutions to treat various diseases that are unresponsive to the oral medication such as gastrointestinal diseases, cancer, and pain. Home infusion therapy declines the unplanned hospitalization and also improves the medication adherence. Most commonly used home infusion therapy devices for drug administration include intravenous set, needleless connectors, and infusion pumps among others. Due to increase in the prevalence of chronic diseases majorly diabetes and cancer and increase in awareness are anticipated to fuel the home infusion therapy devices market over the forecast period. Moreover, technological advancements such as the introduction of smart pumps that enhancing the overall ease of using home infusion devices are expected to drive market revenue. Furthermore, acquisitions and mergers, collaborations, and product launchings are the key strategies followed by the market players for generating larger revenue in the home infusion therapy devices market. For instance, in March 2016, PromptCare acquired Boston Home Infusion for expanding the product portfolio in Boston area. Similarly, in October 2016, ICU Medical Inc. acquired Hospira Infusion Systems for strengthening its home infusion therapy devices portfolio.
Key Developments:
In April 2017, Becton, Dickinson and company acquired Caesarea Medical Electronics for strengthening infusion system portfolio including home infusion therapy devices
