Press release
Infusion Therapy Market Poised for Steady Growth Driven by Aging Population and Chronic Disease Prevalence
Infusion Therapy Market
Market Overview
The global infusion therapy market reached a value of USD 44.2 Billion in 2022. This market encompasses the administration of medications through intravenous , subcutaneous, and other non-oral routes. The increasing accessibility of healthcare services in emerging markets is a significant driver, with these regions experiencing substantial growth in healthcare infrastructure and medical care availability.
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Key Trends Shaping the Market
Shift Toward Home Infusion Therapy: A growing trend is the shift from hospital-based to home-based infusion therapy. This trend is driven by factors such as cost-effectiveness, patient convenience, and advancements in technology that enable safe and effective at-home treatment.
Rise of Chronic Diseases: The increasing prevalence of chronic diseases like cancer, neurological disorders, and gastrointestinal diseases is a major driver for the market. These conditions often require long-term infusion therapy for management.
Technological Advancements: Developments in infusion pumps, catheters, and drug delivery systems are enhancing the efficiency and accuracy of infusion therapy. Additionally, telemedicine integration allows for remote monitoring and improved patient care.
Market Drivers and Restraints
Drivers:
Growing geriatric population
Rising healthcare expenditure
Increasing demand for targeted and personalized therapies
Restraints:
Stringent regulatory requirements
High cost of new drug development
Shortage of skilled healthcare professionals
Growth Opportunities
Development of biosimilar and biogeneric drugs
Expansion into emerging markets
Focus on value-based care models
Continued advancements in infusion technology
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Key Market Insights
The controlled and exact delivery of fluids, medicines, and nutrients into a patient's circulation is accomplished with the use of infusion pumps. For a variety of purposes, including chemotherapy, pain relief, and parenteral feeding, they are frequently used in hospitals, clinics, and other healthcare facilities. The market for infusion pumps is expanding as a result of a number of important factors, including the rising prevalence of chronic diseases including cancer, diabetes, and cardiovascular problems and the rising demand for home healthcare services.
The chemotherapy sector is anticipated to account for a sizeable portion of market revenue. The need for chemotherapy has increased as a result of the rising incidence of cancer worldwide. Chemotherapy involves administering medications intravenously through infusion treatment in order to kill cancer cells. The expansion of this market is also being fueled by improvements in medication delivery technologies and rising funding for cancer research and development. The National Cancer Institute estimates that 1.8 million new cases of cancer will be diagnosed in the United States alone in 2020, increasing the demand for infusion treatment in chemotherapy.
North American market dominated the global infusion therapy market in 2021. The rising elderly population, rising prevalence of chronic diseases like cancer and diabetes, and the availability of cutting-edge healthcare facilities are all contributing to the market's expansion in this area. Together with the presence of prominent competitors like Baxter International Inc., B. Braun Melsungen AG, and ICU Medical Inc. in the area, the high adoption rate of technologically improved infusion pumps is anticipated to drive market revenue growth.
Some major companies included in the global infusion therapy market report are:
B. Braun Melsungen AG
Baxter International Inc.
Becton, Dickinson and Company
Fresenius Kabi AG
Hospira, Inc.
ICU Medical, Inc.
Smiths Medical
Terumo Corporation
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PRESS INFORMATION
FOR IMMEDIATE RELEASE: July 17, 2020
Contact:
Beacon Infusion Healthcare Services
www.beaconinfusion.com
833-223-2266
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