Infusion Therapy Market Value is Anticipated to Surpass USD 78.9 billion, Estimates a CAGR of 6.7% through 2031 | By Transparency Market Research Inc.
Transparency Market Research
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Transparency Market Research
Infusion therapy is the use of sterile needles and catheters to deliver a medication through non-oral channels including epidural and intramuscular injections.
Wilmington, Delaware, United States, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. The global infusion therapy market was estimated at a value of US$ 41.7 billion in 2021. It is anticipated to register a 6.7% CAGR from 2022 to 2031 and by 2031, the market is likely to attain US$ 78.9 billion by 2031.
The market is expanding due to the rise in hospital-acquired illnesses (HAIs), which are brought on by contact with contaminated bed linens, equipment, and air droplets at various facilities. There is an increasing need for home infusion therapy in order to minimize the risk of infection and provide optimal care. The creation of affordable, easily manipulated home infusion kits is another driving force in the market.
The following companies are well-known participants in the global infusion therapy market:
B. Braun Melsungen AG
Medtronic plc
Becton, Dickinson and Company
ICU medical (Smiths Medical)
Baxter International, Inc.
Polymedicure
BIO-MED
Terumo Medical Corporation
MEDIPRIM GmbH
Fresenius Kabi
Cardinal Health
Key Findings of Market Report
The global infusion treatment market in 2021 was driven by the cancer segment.
The use of IV infusion pump accessories has expanded in tandem with the prevalence of target disorders such as cancer, viral infections, as well as tuberculosis (TB).
Analgesics, antipyretics, anesthetics, antibiotics, anticancer drugs, and other pharmaceuticals are administered by infusion products.
One of the most often used cancer treatments is the use of drugs to cure or eradicate cancer cells.
Chemotherapy combats cancer cells in a number of methods, one of which is by preventing them from proliferating or growing.
It is usual practice to treat cancer with multiple medications at once.
Chemotherapy can be used either on its own or in conjunction with other medical procedures like radiation therapy or surgery.
Market Trends For Infusion Therapy
In 2021, the hospitals category led the global market based on end-users. Throughout the projection period, the tendency is anticipated to continue. There has been an increase in instances due to the discovery of new coronavirus strains in various regions of the world. There are now more hospital admissions.
A large number of patients, especially the elderly and those with serious lung infections, are receiving critical care and are kept on ventilators. Such individuals are continuously given intravenous solutions to provide proper nourishment.
In terms of treatment, the global market in 2021 was dominated by the antibiotic/antiviral category. Throughout the projection period, the tendency is anticipated to continue. Hospitals frequently use intravenous (IV) antibiotic infusion therapy. It has been more well-known in recent years along with the growth in bacterial resistance to a number of oral antibiotics that are often used. Since these germs are already among the most serious risks to human health in the twenty-first century, IV infusion therapy is the final resort in these circumstances.
Global Market for Infusion Therapy: Regional Outlook
Various reasons are propelling the growth of the infusion therapy market throughout the region. These are:
In 2021, North America accounted for the majority of this proportion, driven by the rise in drugs used in infusion treatment to treat rare and chronic illnesses. Regional supremacy in the world is a result of several factors, including an increase in the senior population, a rise in the prevalence of chronic diseases including diabetes, cancer, and cardiovascular disease, and rapid technology improvements in the healthcare industry.
Over the last few years, the healthcare market in North America has seen a rise in investment. Increased living standards brought about by economic growth have fueled market expansion in the area.
Due to the quick uptake of new technologies in the infusion treatment sector and the rising incidence of chronic illnesses, the Asia Pacific market is anticipated to expand quickly over the course of the forecast period.
Global Infusion Therapy Market: Key Players
Companies are actively developing and providing innovative infusion systems, pumps, and accessories in the global infusion therapy market. By guaranteeing correct drug administration, reducing mistakes, and improving treatment efficiency, these technologies seek to improve patient outcomes. In order to provide cutting-edge technologies, such as smart pumps with networking features for remote monitoring, firms are also investing in research and development. The industry's dedication to developing infusion treatment and meeting the changing demands of patients and healthcare professionals is demonstrated by its strategic partnerships with providers of healthcare and its emphasis on user-friendly designs.
Few of key developments by the players in this market are:
Company name
Key Developments
B. Braun
In 2023, the FDA approved B. Braun, a top medical technology company that offers pain management and infusion therapy, for the Daytona Beach Pharmaceutical Manufacturing Site.
The company's commitment to investing over $1 billion in the United States to increase supply and manufacturing capacity in order to mitigate IV fluid shortages includes the construction of the new Daytona Beach facility.
Thanks to its current IV solutions plant in Irvine, California, B. Braun now has important manufacturing locations on both coasts.
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