New York, USA, Sept. 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global home infusion therapy market anticipated to register $49.5 billion by 2027 and grow at a CAGR of 11.7% during the forecast period 2020-2027. The extensive report provides a concise outlook of the present market scenarios, including other aspects such as dynamics of the home infusion therapy market, its growth and restraining factors, challenges, and opportunities during the analysis timeframe. The report also offers detailed market figures of the pandemic and post-pandemic period, which makes it easier and more beneficial for new participants to understand the impact of the Covid-19 pandemic on the market as well as its real-time scenario.
Factors Impacting the CAGR Figures Pre and Post the Covid-19 Pandemic
According to the report, the home infusion therapy market is expected to grow at a CAGR of 11.7% during the forecast timeframe, while it was predicted to grow at a CAGR of 11.2% in the pre-pandemic scenario from 2020-2027. Increasing geriatric population across the globe is predicted to be the primary growth driver of the market in the forecast period. Moreover, with the onset of pandemic, more and more people preferred opting for home infusion therapy in order to receive help at their respective homes instead of visiting any healthcare institution. This increase in demand for home infusion therapy is predicted to boost the home infusion therapy market in the analysis timeframe.
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Factors Impacting the Market Size Pre and Post the Covid-19 Pandemic
According to the report, the real-time market size has significantly increased compared to the pre-pandemic projections. The real-time market size reached a revenue of $22.9 billion in 2020, while its estimations were $22.3 billion in the pre-pandemic scenario. Increasing research and development in the field of home infusion therapy is expected to drive the market forward in the analysis period. Also, growing incidence of chronic diseases like diabetes, cancer, tuberculosis, etc. is anticipated to augment the growth rate of the home infusion therapy market. However, the high cost of home infusion therapy is estimated to create hurdles in the full-fledged growth of the market in the analysis timeframe.
Post Pandemic Insights
There is a growing demand for home infusion therapy as it has proven to be a cost-effective treatment for cancer, which is expected to offer numerous growth opportunities to the home infusion therapy market in the analysis timeframe. Additionally, increase in preference for home infusion therapy among geriatric population is estimated to be the leading growth factor of the market in the analysis timeframe.
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Prominent Market Players
Some prominent home infusion therapy market players include
- Boston Cosmed
- ICU Medical Inc.
- Becton Dickinson and Company (BD)
- Terumo Corporation
- Fresenius Kabi
- Baxter International, Inc.
- Smiths Medical
- Eli Lilly and Company
- B Braun Melsungen AG
- JMS Co., Ltd
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in July 2021, BioMatrix Specialty Pharmacy, a specialty pharmacy solutions provider, announced the acquisition of InfuCare, a specialty infusion therapy pharmacy services provider. This acquisition will help BioMatrix to increase its footprint in the market further and establish itself as one of the leading players of the market in the years to come.
The report also sums up many crucial aspects including financial performance of the key players of the home infusion therapy market, SWOT analysis, product portfolio, and latest strategic developments.
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More about Home Infusion Therapy Market:
- How the Outbreak of COVID-19 Impacted the Home Infusion Therapy Market?
- Home Infusion Therapy Can Be an Ideal Option for Obtaining Healthcare Amidst COVID-19 Turmoil, Here’s how
