A recent report published by Infinium Global Research on the infusion therapy market provides an in-depth analysis of segments and sub-segments in the global as well as regional infusion therapy market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional infusion therapy market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global infusion therapy market. According to the report, the global market for Infusion Therapy was sized near USD 8 billion in 2020 and is expected to reach over USD 10 Billion by 2026 growing with a CAGR of 4.1% over 2020-2026.
Delivery and administration of medication, fluids in a patient’s body in a controlled manner by needles or catheter is known as infusion therapy. Due to the vulnerability of some drugs to the digestive system which leads to a reduction in their effectiveness then Infusion therapy is used. Where there is no comparable oral therapy or at times when a patient is unable to take oral medication, infusion therapy is an alternative. There are various types of infusion therapy including intravenously (IV), epidural, intramuscular, and subcutaneous. Intravenously Therapy (IV) is the most usually used infusion therapy type. Infusion therapy is usually provided in clinical settings including the clinics of a doctor, hospital, outpatient facility, infusion center, and other alternative settings. Infusion Therapy is normally monitored by doctors, nurses, and trained healthcare professionals. Infusion therapy is a critical treatment for cancer and diabetes patients. Besides, chemotherapy infusion therapy is also used for providing nutrition, pain management therapy, inotropic therapy, hydration therapy, and others.
According to World Health Organization (WHO), there are 422 million people suffering from diabetes. This number is high in lower and middle-income group countries. The prevalence of diabetes and a significant increase in the number of cases over years has led to increased demand for infusion therapy. Infusion sets play a critical role in treating diabetes. These infusion sets provide constant insulin delivery and are easy to use. Thus there is demand for them. According to International Agency for Research on Cancer 1 in 5 people suffer from cancer in their lifetime and there were 19.3 million cases of cancer in 2020 across the world. Hence, this prevalence of cancer has a constant increase in the number of people seeking chemotherapy. Chemotherapy is an application of Infusion Therapy. Thus, Chemotherapy is one of the best treatments available in the world to treat cancer. The accessibility of this treatment to people is also increasing as penetration of healthcare facilities is on the rise. These are things that are majorly driving the market. The only restraint the market faces is the high costs associated with different treatment methods and devices used in infusion therapy. Their high cost restrains people from using infusion therapy and instead looks for cheap alternative treatments. Rapid technological innovations such as new devices, new products which lead to increased accuracy and efficiency of the cure, medications are expected to provide new opportunities. The development of new treatment methods is projected to expand the scope of the market.
The north American region is expected to hold the dominant position in the market. It is projected to be the largest revenue-generating region in the market. Europe is expected to be the second-largest revenue-generating region in the market. Asia-Pacific is projected to be the fastest-growing region in the market. There is an increase in the cases of diseases such as cancer, diabetes, and other chronic diseases in the region. Due to the existence of advanced medical research facilities and developed economies in the region. High standard of living of the people and the presence of advanced medical infrastructure with easy availability of infusion therapy treatments are among the other for the dominance of the North American region. Europe has been experiencing development in technological advancements. Asia-Pacific region has been experiencing humungous development in medical technology, infrastructure complemented by economic prosperity. The region is also home to the most populous nations like India and China and countries with high old age populations such as Japan.
The report on the global infusion therapy market covers segments such as product type, application, and end user. On the basis of product type, the sub-markets include intravenous sets, infusion pumps, needless connectors, IV cannuals, and others. On the basis of application, the sub-markets include inotropic therapy, antiviral/antibitoic therapy, chemotherapy, blood component stimulating factor, hydration therapy, enternal/total parenteral nutrition, pain management terapy, and others. On the basis of end user, the sub-markets include hospitals, clinics, ambulatory surgery centres, outpatient facilities, and others.
The report provides profiles of the companies in the market such as Johnson & Johnson, Pfizer Inc, Baxter International Inc., Option Care Health, Inc., Fresenius SE & Co. KGaA, Braun Melsungen AG, Becton, Dickinson and Company, ICU Medical, Inc., CareCentrix, Inc., and Eli Lilly and Company.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the infusion therapy market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.