Infusion Therapy Market, by Products (Infusion Pump Sets and Accessories and Consumables), Application (Total Parenteral Nutrition, Anti-infective Therapy, Enteral Nutrition, Hydration Therapy, Chemotherapy, IVIg/Specialty Pharmaceuticals, and Other Applications), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America), The global Infusion Therapy Market size is projected to reach a CAGR of 7% from 2023-2030.
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The prominent players in Infusion Therapy Market are
· Terumo Medical Corporation
· Nipro Europe Group Companies
· B. Braun Melsungen AG
· ICU Medical, Inc.
· Medtronic PLC
· Poly Medicure Limited
· Fresenius SE & Co. KGaA
· BIO-MED
· Mediprim GmbH
· Baxter International
· Micrel Medical Devices SA
· Smith’s Medical
· Vygon SA and More
Recent Developments
In July 2020, Voluntis, a healthcare software company, and Biocon Biologics entered into a partnership to develop and provide cutting-edge digital therapeutics based on biologics therapy for aiding diabetes patients.
In April 2020, CVS Health entered a partnership with UCLA Health to enhance its existing capacity and capabilities to treat more patients in home-based settings, in turn, easing the burden of the COVID-19 crisis on hospitals.
The infusion Therapy Market is segmented into various segments such as product, application, and region:
Based on product
· Infusion pump sets
· Accessories and consumables
Based on the application
· Total Parenteral Nutrition
· Anti-infective Therapy
· Enteral Nutrition
· Hydration Therapy
· Chemotherapy
· IVIg/Specialty Pharmaceuticals
· Other Applications
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Infusion therapy is an alternative to oral treatment that involves the administration of drugs/medicine and nutrition through a sterile catheter or needle. It is usually employed to treat serious or chronic infections that do not respond to oral medications. The therapy is performed at hospitals, infusion therapy centers, or homes and involves the administration of medication via catheters or needles by specially trained professionals such as nurses.
Infusion therapy services are commonly employed in the treatment of cancer, gastrointestinal (GI) disorders, dehydration caused by nausea, vomiting, diarrhea, heart failure, chronic pain, and immune system problems.
Infusion therapy services are also utilized in the treatment of rheumatoid arthritis, Crohn’s disease, immune deficiencies, hemophilia, and multiple sclerosis. Hence, an increase in application areas of infusion therapy creates a significant opportunity for companies to expand their services. This, in turn, is projected to drive the global infusion therapy market.
Other factors which will propel the market are the rise in the number of people suffering from chronic pain, cancer, and diabetes. Governments in developing countries are making significant investments to modernize healthcare infrastructure, which is likely to increase access to healthcare. This is expected to increase the demand for infusion therapy services. The rise in the prevalence of chronic diseases in developing countries presents lucrative opportunities in the global infusion therapy market
North America to Dominate the Market
· On the other hand, the infusion therapy market in North America is expanding at a rapid pace due to the high incidence rate of chronic diseases such as diabetes and cardiovascular diseases. Also, Asia Pacific is estimated to expand at a rapid pace during the forecast period owing to a rise in healthcare infrastructure. Moreover, the surge in the geriatric population coupled with chronic diseases is likely to propel the market in the region.
· The infusion therapy market in Latin America and the Middle East & Africa is projected to expand at a steady pace due to a rise in the demand for low-cost infusion therapy in these regions.
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