Global Home Infusion Therapy Market Size, Outlook: Analysing the 8.5% CAGR and USD 79.1 Billion Projection by 2032
Global home infusion therapy market size from USD 35.0 billion in 2022 to USD 79.1 billion, growing at a CAGR of 8.5% in 10 years. The rising demand of home healthcare drive the market’s growth. North America emerged as the largest global home infusion therapy market, with a 55% market revenue share in 2022.
Newark, Sept. 25, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 35.0 billion home infusion therapy market will reach USD 79.1 billion by 2032. Home infusion therapy is a type of medical treatment in which patients receive medication or fluids through an IV in the privacy of their own homes. Patients who require long-term or frequent intravenous treatments for ailments such as cancer, infections, immunological disorders, and other chronic diseases are typically administered this therapy. As it lowers the need for hospital stays and associated expenditures, home infusion therapy provides patients with a convenient and cost-effective alternative to hospital or clinic-based treatment. A healthcare provider would often visit the patient’s house to give the drug and assess the patient’s health status during in-home infusion therapy.
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North America to account for the largest market size during the forecast period.
North America is expected to have the essential home infusion therapy market share. This can be linked to the region’s increased R&D and the increasing usage of new technology in infusion pumps. The increased demand for long-term therapy for individuals with particular illnesses drives the regional market. The development of alternative healthcare settings and home infusion services, as well as a movement in preference from acute care to home care settings due to lower costs and increased patient mobility, will drive market expansion in the future.
The infusion pumps segment dominated the market with the most significant revenue of USD 14 billion.
The infusion pumps segment dominated the market with the most significant revenue of USD 14 billion. This segment is dominant as these pumps are commonly used for nutrient and drug delivery. The availability of a wide range of products, including enteral, syringe, multichannel, and peristaltic pumps, helps to segment growth.
The anti-infective therapy segment dominated the market with the most significant revenue of USD 11.9 billion.
The anti-infective therapy segment dominated the market with the most significant revenue of USD 11.9 billion. The Cancer Care at Home initiative was started in February 2020 by the Penn Centre for Cancer Care Innovation at the Abramson Cancer Centre of the University of Pennsylvania. Its goal was to increase the proportion of cancer patients who received in-home care. According to the business, the number of patients enrolled in the programme increased by 700% between mid-March and late April. This demonstrates how the home infusion sector has a promising future. Thus, the growing incidence of infectious diseases in various nations and increased R&D activities are projected to enhance demand for anti-infective therapy, driving the segment’s growth.
Report Coverage Details
|Market Size in 2022||USD 35.0 Billion|
|Market Size in 2032||USD 79.1 Billion|
|No. of Pages in Report||232|
|Segments Covered||Product, Application|
|Drivers||Rising Prevalence of Chronic Diseases|
|Opportunities||Increase Prevalence of Hospital-Acquired Infections|
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Drivers: Lifestyle Changes
The home infusion therapy market will rise as people’s lifestyles change. Furthermore, the growing diabetic population and lower treatment costs will drive the expansion of this market. Many complicated medical problems and illnesses can be managed with these infusion therapies, reducing hospital stays and treatment costs. Home infusion therapies are safer because the medications are administered under the supervision of physicians. This will also help the market’s expansion. The reimbursement policies of many public and private organisations will also help this industry flourish.
Restraint: Lack of Awareness
The need for more competent medical experts for administration is projected to stymie the expansion of the home infusion therapy market. During the forecast period, the home infusion therapy market is expected to face challenges due to a lack of awareness.
Opportunity: Technological Advancements
Various technology breakthroughs and the introduction of new items will boost market growth. Implementing sophisticated technologies in home care settings will bring new treatment choices with lower infection risks. Furthermore, developing smart infusion pumps can reduce dosing errors and promote patient safety. The reasons mentioned above will drive market expansion over the forecast period.
Challenge: High Cost
The high cost of infusion pumps may stymie business expansion during the forecast period.
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Some of the major players operating in the home infusion therapy market are:
● Option Care Health
● BriovaRx/Diplomat (UnitedHealth Optum)
● Fresenius Kabi
● ICU Medical, Inc.
● B. Braun Melsungen AG
● Caesarea Medical Electronics
● Smiths Medical
● Terumo Corporation
● JMS Co. Ltd.
Key Segments cover in the market:
● Infusion Pumps
● Intravenous Sets
● IV Cannulas
● Needleless Connectors
● Total Parenteral Nutrition
● Anti-infective Therapy
● Enteral Nutrition
● Hydration Therapy
● IVIg/Specialty Pharmaceuticals
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About the report:
The global home infusion therapy market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.
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