Market Overview:
Home Infusion Therapy Market size was valued at USD 43.35 billion in 2019 and is poised to grow from USD 45.41 billion in 2023 to USD 65.2 billion by 2031, growing at a CAGR of 4.63% in the forecast period (2024-2031). The Veterinary Home Infusion Therapy is poised for considerable growth, propelled by several key drivers, such as rising cases of neurological disorders, continuous technological innovation, and an increasing need for minimally invasive procedures, are expected to take the Veterinary Home Infusion Therapy to considerable heights.
Other factors contributing to this can be attributed to the large and rapidly growing patient population suffering from such targeted diseases in key markets, resulting in a significant rise in demand for Veterinary Needles. One of the major factors acting as a potential catalyst to drive the market growth over the forecast period is a high prevalence of acute ischemic stroke.
Market Insights:
Home Infusion Therapy Driver
During the projected period, the market for needles is anticipated to rise more quickly due to the rising incidence of different chronic diseases and the rising number of hospitals and clinics in developing nations. It is anticipated that major businesses will continue to invest heavily in research and development to bring the most safe and precise needle technology to market. In order to allow surgeons to examine specific blood arteries at danger when placing the needle and prevent deadly bleeding, a research team from the University of Adelaide created a biopsy needle coupled to a tiny imaging probe in January 2018.
The development of needle technology also lessens the discomfort and anxiety associated with injections. Pain and anxiety have specific treatment plans because different psychological and physiological conditions cause the brain’s pain receptors to become active. For instance, there is a significant correlation between dental injection during dental treatments and both pain and anxiety. Additionally, it’s anticipated that rising awareness of blood donation will shortly fuel industry expansion. The demand for needles and syringes will rise as more people donate blood to make up for the low blood supply.
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Key Market Segments:
Type
Conventional Needles, Safety Needles
Product
Suture Needles, Blood Collection Needles, Ophthalmic Needles, Dental Needles, Insufflation Needles, Pen Needles, Other Needles
Delivery Mode
Hypodermic Needles, Intravenous Needles, Intramuscular Needles, Intraperitoneal Needles
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Regional Insights:
The Home Infusion Therapy is dominated by North America due to the region’s strong base of healthcare facilities, growing investment from major players in the development of cutting-edge devices, well-established distribution networks for needle product manufacturers, and an increase in research activities. For example, in 2021, investors closed 96 Medtech investments, a substantial increase from 55 in 2020 and a record-breaking 60 in 2018. Deal value increased to $40.8 billion from $3 billion in 2020, mostly because of the $34 billion Medline deal. Such fluctuations are typical in the industry, where substantial assets are not as common. Supply chain resilience and cost control, technology for alternative treatment, specialist contract manufacturing, and regulatory assistance are important issues for investors in North America and Europe.
Due to an increase in government programs to raise awareness, a rise in medical tourism, expanding research activities in the region, and a rising demand for high-quality healthcare in the region, Asia-Pacific is predicted to see considerable growth between 2022 and 2029. The percentage of hospitals expected to raise spending decreased from 30% to 40% to 15% to 25% as a result of continuous uncertainty. Australia and China revealed a planned spending attitude that was similar to last year’s, despite the fact that most hospitals in the area are displaying more cautious planned expenditure compared to last year. In both nations, hospitals plan to raise spending in all categories by roughly 40% on average. Governments in the area have been working to control healthcare costs despite the pandemic response.
Prominent Players in Veterinary Home Infusion Therapy:
- Becton, Dickinson and Company
- Terumo Medical Corporation
- Braun Melsungen AG
- Smiths Medical
- Nipro Corporation
- Medtronic
- Novo Nordisk A/S
- Ypsomed Holding AG
- Owen Mumford Ltd.
- Gerresheimer AG
- HTL-STREFA S.A.
- Retractable Technologies, Inc.
- Vygon S.A.
- Codan Medizinische Geräte GmbH & Co. KG
- Exelint International Co.
- MHC Medical Products
- Catalent, Inc.
- Mylan N.V.
- Vita Needle Company
- TSK Laboratory Europe B.V
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Additional Insights:
Market Penetration: Analysis of the product portfolio of different market players and the status of new product launches.
Product Development/Innovation: Assessment of R&D activities, new product development, and emerging trends.
Market Development: Analysis of regions with high growth potential.
Market Diversification: Assessment of new products, recent developments, and emerging regional markets.
Competitive Landscape: Growth strategies, revenue analysis, and product innovations by market players.
Key Questions Answered in Veterinary Home Infusion Therapy Report:
What is the global market size of the Home Infusion Therapy?
Who are the key vendors in the Home Infusion Therapy?
What is the key driver of the Home Infusion Therapy?
What is the key market trend for the Home Infusion Therapy?
Which region accounted for the largest share in the Home Infusion Therapy?
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