U.S. Home Infusion Therapy Industry: Trends, Business Strategies
Posted by Nicky Arora on March 11th, 2020
The U.S. home infusion therapy market size is expected to reach USD 17.8 billion by 2026, registering a CAGR of 4.9% during the forecast period, according to a new report by Grand View Research, Inc. Rising geriatric population and prevalence of health conditions such as cancer, immune deficiencies, Crohn's disease, infections, dehydration, nutritional deficiencies, multiple sclerosis, and gastrointestinal diseases is driving the demand for home infusion therapy in the country.
Growing cases of Hospital Acquired Infections (HAI) is another major driver for the U.S. market for home infusion therapy. According to the US Center for Disease Control and Prevention (CDC), annually, approximate 1.7 million admitted patients are affected by Health Care-associated infections (HCAI) and around 98,000 patients-one in every 17 patients- die due to HCAIs. This factor is anticipated to substantially drive the demand for home infusion therapy.
Increasing innovations in home infusion therapy such as, incorporation of Electronic Healthcare Records (EHR) along with medical devices and infusion pumps are expected to further fuel the market in the forthcoming years. The EHRs allow storage, retrieval, and alteration of medical records, making it easier for healthcare professionals and patients to track improvements in the particular health condition.
Increasing preference for home healthcare owing to its cost-efficiency over hospital stay is expected to create an opportunity for the industry players to launch more innovative products. Also, the introduction of safety products will ultimately help the growth of the U.S. home infusion therapy market.
Further key findings from the report suggest:
About Grand View Research:
Grand View Research is an India & 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. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 compnies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
Grand View Research, Inc.
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San Francisco, CA 94105
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About the AuthorNicky Arora
Joined: October 15th, 2019
Articles Posted: 389
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