Home Infusion Therapy Market exhibiting CAGR of 8.4% by 2032, owing to rising prevalence of hospital-acquired infections | insightSLICE
The market for Home Infusion Therapy was valued at US$ 18 billion in 2020 and is expected grow at a CAGR of 8.4% between 2023 to 2032.
Home infusion therapy involves administering medication to the patient at home through a catheter and needle. Doctors recommend the therapy, which is administered by qualified medical service staff.
It is used to treat conditions like gastrointestinal infections and malignant growths of tissues like cancer or tumors when oral treatment is not an option. Additionally, it is used to treat diabetes, cystic fibrosis, dehydration, and serious infections.
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Global Home Infusion Therapy Market Key Segments:
By Product Type
- Infusion Pumps
- Elastomeric
- Electromechanical
- Gravity
- Others
- Intravenous Sets
- IV Cannulas
- Needleless Connectors
By Application Type
- Anti-infective
- Endocrinology
- Diabetes
- Others
- Hydration Therapy
- Athletes
- Others
- Chemotherapy
- Enteral Nutrition
- Parenteral Nutrition
- Specialty Pharmaceuticals
- Others
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of APAC
- Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
- South America
- Brazil
- Rest of South America
Patients spend less time in hospitals, nursing homes, and clinics thanks to home infusion therapy.
The therapy is used to regulate how much medication is injected into the body, as well as how much anti-infection medication, nutritional supplements, and other liquids are injected into the veins on a daily, weekly, or monthly basis. The patient’s condition and the severity of the sickness will determine the routine.
When treating diseases, home infusion treatment is a viable and secure alternative to traditional hospitalization. This is due to the patient’s home’s comfort and convenience, which hastens the recovery process from medical issues.
Home infusion therapy refers to a therapeutic process whereby patients get medication using catheters and injections at home. The need for home infusion therapy is further fueled by the fact that accepting treatment at their homes rather than at clinics or medical centers is an economically lucrative and more practical choice for patients.
A few ailments, including autoimmune illnesses that result in shortages, respiratory infections, and chronic cardiac failure, need infusion therapy because oral medication is ineffective in treating them.
Since many patients need long-term care, home infusion therapy is thought to be a more sensible choice than receiving care in a clinic.
The key players of the Global Home Infusion Therapy Market are:
CVS/Coram, BriovaRx/Diplomat (United Health Optum), B. Braun Melsungen AG, Baxter, BD, Caesarea Medical Electronics, Fresenius Kabi, ICU Medical, Inc., Option Care Health, PharMerica, Smiths Medical, Terumo Corporation, JMS Co. Ltd.
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Global Home Infusion Therapy market growth drivers
The coronavirus outbreak is expected to increase demand for home infusion therapy starting in 2020. In the projected period of 2020–2030, the market is expected to be significantly driven by an increase in the global geriatric population. Additionally, it is predicted that the market will be driven throughout the forecast period by the rising prevalence of chronic disorders.
The biggest problem faced by the market in the anticipated period is thought to be the availability of complex medical care offered by governments of emerging countries. An increase in the population of people aged 60 and above is one of the main factors driving the market’s evolution.
This segment of the population has significant barriers preventing them from going to the clinics, particularly since the coronavirus outbreak. Infusion treatment advancements in medical care, combined with usage simplification and error-free liquid measurement, are key drivers of market growth in the years to come.
In any case, the lack of knowledge regarding infusion therapy at residence is a barrier to the market’s expansion. The present Coronavirus Pandemic has had a substantial impact on the market for home infusion therapy since it prevents patients from visiting hospitals for intravenous treatments. The best assistance at this time is home infusion therapy.
According to surveys, the market is expected to experience significant growth from 2020 to 2030 as a result of an increase in the global elderly population in both developing and developed regions.
Additionally, it is projected that the industry will be most constrained by complex medical care financing programs offered by local government organizations in the estimated time.
To maintain their position in the global market for home infusion therapy, a substantial number of medical facilities are focused on automation and improvement equipment.
Regional performance of Home Infusion Therapy Market
Additionally, the need for home infusion therapy is growing in North America due to the aging population over 65 and the stressful, fast-paced lifestyle that results in poor food choices and chronic illnesses including diabetes and autoimmune nutritional deficiencies.
Due to growing awareness of home infusion benefits and rising spendable income ceilings in this region, the Asia Pacific is also predicted to be the market with the fastest growth.
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The leading market segments of Global Home Infusion Therapy Market
According to the product, the infusion tubes are anticipated to have the most customer base in the home infusion therapy market. To deliver vitamins and liquids into the body at predetermined times and small calculated volumes, infusion tubes are used.
Smart tubing devices are widely used today since they have cutting-edge features like controlled tags that aid in the authentication of a patient’s condition qualities and guard against mistakes in drug distribution. The CAGR for needle-free equipment is anticipated to increase the maximum between 2020 and 2030.
These connectors enhance patient safety when taking medications, facilitate efficient medical procedures, and support adherence to good clinical practice (GCP), all of which support the segment’s growth. Additionally, the anti-infective segment has contributed the most to market growth in recent years based on application.
The market is predicted to be supported by the rise in fluid medication techniques, such as anti-contagious and antibiotics and applicative treatment without visiting emergency clinics.
Patients throughout the world are increasingly embracing home infusion therapy because it offers a comfortable environment for care and allows them to avoid paying the expensive medical service fees that healthcare communities typically demand. Modern medical equipment is an industry that is rapidly expanding.
One example is remote-controlled infusion tubes that allow a medical expert to closely monitor patients without making physical contact.
Hindering factors for growth of Home Infusion Therapy Market
Additionally, the primary factor influencing market growth is the world’s growing senior citizen population. In one way or another, an overabundance of unchecked liquid medication may be lethal and a hindrance to market expansion.
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