Infusion Therapy Market Size, Share, Growth Analysis, By Product Type(Infusion pumps, IV sets, needleless connectors, stopcocks), By Application(Chemotherapy, diabetes, gastrointestinal diseases, pain management), By Region - Industry Forecast 2024-2031

Infusion Therapy Market size was valued at USD 41.7 billion in 2019 and is poised to grow from USD 44.45 billion in 2023 to USD 78.9 billion by 2031, growing at a CAGR of 6.7% in the forecast period (2024-2031).

The infusion therapy market is highly competitive, with several large and small players operating in the market. These companies are the major players in the infusion therapy market and are focused on expanding their market share through product innovation, partnerships, and strategic acquisitions. 'Baxter International Inc.', 'B. Braun Melsungen AG', 'Fresenius Kabi AG', 'ICU Medical, Inc.', 'Smiths Medical, Inc.', 'Terumo Corporation', 'Becton, Dickinson and Company', 'Moog Inc.', 'Teleflex Incorporated', 'Nipro Corporation', 'Hospira, Inc. (A Pfizer Company)', 'JMS Co. Ltd.', 'AngioDynamics, Inc.', 'Zyno Medical LLC', 'Mindray Medical International Limited', 'Micrel Medical Devices S.A.', 'IRadimed Corporation', 'Caesarea Medical Electronics Ltd.', 'Novo Nordisk A/S'

The growing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases has led to an increase in the demand for infusion therapy products and services.

Growing demand for home infusion therapy: There is an increasing trend towards home-based healthcare services, including home infusion therapy. Patients prefer to receive infusion therapy at home rather than in a hospital or clinical setting, as it provides greater convenience, comfort, and cost savings.

North America is the largest market for infusion therapy globally, accounting for a significant share of the market. One of the key drivers of the infusion therapy market in North America is the high prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases. According to the American Cancer Society, an estimated 1.9 million new cancer cases were diagnosed in the United States in 2021. These patients often require infusion therapy for the management of their conditions, leading to a high demand for infusion therapy products and services. In addition, the region has a well-established healthcare infrastructure, with a large number of hospitals, clinics, and other healthcare facilities that offer infusion therapy services. The availability of advanced healthcare technologies, skilled healthcare professionals, and favorable reimbursement policies has further fueled the growth of the market in the region. Furthermore, the increasing trend of home healthcare and the availability of advanced home infusion therapy products and services have also contributed to the growth of the market in North America. Home infusion therapy allows patients to receive their treatments in the comfort of their homes, which can improve patient outcomes and reduce hospital readmissions. Overall, the North America market for infusion therapy is expected to continue its growth trajectory in the coming years, driven by the high prevalence of chronic diseases, well-established healthcare infrastructure, and increasing adoption of home healthcare.