Hyderabad, Telengana -- (SBWire) -- 02/09/2023 --Overview:
Infusion treatment is a therapeutic process in which medicine is administered by sterilised needles and catheters via non-oral methods such as intramuscular injections and epidural routes. Infections and diseases that may not respond to oral antibiotics, such as cancer and cancer-related medications, dehydration, and gastrointestinal ailments or disorders, are examples of medical situations that require infusion treatment.
A home infusion therapy pharmacy is a "closed-door," state-licensed pharmacy that specialises in giving infusion treatments to patients in their homes or other alternate locations. Home infusion treatment is a complete service that enables safe and effective parenteral prescription medicine and biologic delivery in a patient's home or other alternate location.
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Market Size and Future Apprehension:
According to the most recent DataM Intelligence analysis, the worldwide "Europe Infusion Therapy Market" is expected to grow at a CAGR of 7.2% during the forecast period 2023-2030.
Market Dynamics:
Drivers:
The Europe Infusion Therapy Market is expected to grow significantly in the coming years due to rising incidences of chronic diseases, growing geriatric population and increasing adoption of home healthcare. Infusion therapy refers to the administration of medication, nutrients or fluids directly into the bloodstream through a vein.
Restraints:
However, the high cost of infusion therapy and lack of skilled professionals are expected to hamper the growth of the market. In addition, the risk of infection associated with infusion therapy is another factor expected to limit the growth of the market.
Market Challenges:
Despite the challenges, the increasing incidence of chronic diseases and the growing demand for home healthcare is expected to create significant growth opportunities for the Europe infusion therapy market in the coming years. The market is expected to grow at a significant CAGR during the forecast period from 2023 to 2030.
Segmentation Analysis:
In Europe, the market is segmented into product, end user, and geography. On the basis of product, the market is divided into infusion pumps, intravenous sets, administration sets, needles and catheters. The infusion pumps segment holds the largest share in the market due to increasing demand for advanced technology and rising prevalence of chronic diseases.
By Product
Infusion pumps
Intravenous sets
IV Cannulas
Needleless connectors
Vein imaging device
By Application
Inotropic therapy
Anti-coagulation
Chemotherapy
Nutritional therapy
Blood component
Others
By End user
Hospitals
Ambulatory surgery centers
Clinics
Home care
End User Insights:
Based on end user, the market is segmented into hospitals, home healthcare, and ambulatory care centers. The hospitals segment holds the largest share in the market due to increasing number of hospitalizations and high demand for infusion therapy. The home healthcare segment is expected to grow at a significant rate due to increasing preference for home-based care and rising demand for cost-effective healthcare solutions.
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Regional Analysis:
Geographically, the Europe infusion therapy market is segmented into Germany, France, United Kingdom, Italy, Spain, and Rest of Europe. Germany holds the largest share in the market due to a well-developed healthcare infrastructure and increasing demand for advanced medical technologies.
Competitive Landscape:
Several key players operating in the Europe infusion therapy market include
- B. Braun Melsungen AG,
- Baxter International Inc.,
- Smiths Medical,
- Terumo Corporation,
- Becton,
- Dickinson and Company,
- Fresenius Medical Care AG & Co. KGaA
- others.
These players are focusing on strategic partnerships, collaborations, and mergers and acquisitions to expand their product portfolio and increase their market share.
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Europe Infusion Therapy Market Is Expected to Grow at a CAGR of 7.2% During the Forecast Period 2023-2030
Global Europe Infusion Therapy Market to witness huge growth by key players: Baxter International Inc., Johnson & Johnson, Braun Melsungen AG, ICU Medical, Inc., Allergan plc., Fresenius SE & CO. KGaA, Takeda Pharmaceutical Company Limited