SAN FRANCISCO, May 12, 2016 /PRNewswire/ --
The global home infusion therapy market is expected to reach USD 28.3 billion by 2024, according to a new report by Grand View Research, Inc. The rising significance of cost-containment in home infusion in comparison with in-patient settings is a high-impact rendering driver of the home infusion therapy market. Moreover, long-term cost savings in the treatment of chronic diseases associated with the home infusion therapy is primarily driving the growth of the industry during the forecast period.
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As per a study published in NCBI in 2011, a cost containment program targets cost reduction and study associated patient's preference pattern changes towards home infusion therapy. As per this study, a short-term reduction of over USD 2,247 in costs was achieved and a reduction of long-term costs of over USD 10,424 too, illustrating that significant cost reductions can be achieved through the incorporation of home infusion therapy.
Moreover, the rising penetration rate of home and alternate site services as a consequence of high patient preference due to the high awareness & recognition of benefits associated with the aforementioned are presumed to propel the growth of home infusion therapy market over the forecast period. Furthermore, an extensive pipeline of infusible drugs as a result of high R&D investment by global market players is a key contributing factor towards presenting the home infusion therapy market with lucrative growth opportunities during the forecast period.
The rising number of product innovations and initiatives to improve the safety associated with home infusion therapy is anticipated to bolster the demand for home infusion therapy devices market. For instance, infusion pump connectivity plays a key role when used within home settings, which include remote programming and wireless capability in infusion pumps that reduces the overall costs and ensures the safety of the infusion process as this enables to the healthcare professionals to monitor the patient in home settings remotely.
Browse full research report with TOC on "Home Infusion Therapy Market Analysis By Product (Infusion Pumps, Intravenous Sets, IV Cannulas, Needleless Connectors), By Application (Anti-infective, Hydration Therapy, Chemotherapy, Enteral Nutrition, Parenteral Nutrition, Specialty) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/home-infusion-therapy-market
Further key findings from the study suggest:
Grand View Research has segmented the home infusion therapy market on the basis of product, application, and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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