Global Home Infusion Therapy Devices Industry is projected analysis to hit US$ 4.4 Billion by 2033, growing steadily at a 6.6% CAGR as per FMI

The landscape of home healthcare is experiencing a transformative surge as the global home infusion therapy devices industry size surges ahead. Projections indicate an unprecedented growth trajectory, with anticipated revenues soaring to US$ 2.3 billion in 2023 and catapulting to a staggering US$ 4.4 billion by 2033.

Home infusion therapy, a crucial component of modern healthcare, is set to witness an exceptional surge in demand. Facilitated by the rapid expansion of the equipment market, sales are projected to escalate at a remarkable Compound Annual Growth Rate (CAGR) of 6.6% during the forecasted period. This growth highlights a paradigm shift towards patient-centric care, enabling individuals to receive advanced medical treatment in the comfort of their homes.

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The increasing preference for home-based care solutions, coupled with advancements in medical technology, is propelling the surge in demand for home infusion therapy equipment. This equipment encompasses a wide array of innovative devices and solutions, catering to diverse medical needs and delivering seamless administration of medication outside traditional healthcare settings.

Technological advancements have also played a crucial role in the market’s growth. The development of smart infusion pumps, which can be remotely monitored and controlled by healthcare providers, ensures better accuracy and safety in drug delivery. Moreover, the integration of wireless connectivity and mobile applications has made it easier for patients and caregivers to track infusion progress and receive real-time alerts in case of any issues.

Despite the positive prospects, challenges remain in the form of reimbursement complexities and stringent regulatory requirements. Governments and healthcare organizations are continuously working to address these obstacles to foster the adoption of home infusion therapy devices.

Key Takeaways from Home Infusion Therapy Devices Market Study:

• By product type, infusion system accessories will hold around 45% of value share globally.
• Based on the application, antibiotic administration is leading with over 34% of the market share.
• Home care settings sales will dominate the home infusion therapy devices, with a market share of 65% during the forecast period.
• By region, the U.S. will dominate the global home infusion therapy devices market with a value share of around 37% during the forecast period.
• Followed by North America, Europe will be the second-largest leading region, with a value share of 93.2% during the forecast period.
• India is the dominant country in term of revenue for South Asia Home infusion therapy devices market, accounting for nearly 48% of market share in 2021.
• China holds leading position in East Asia and is expected to account for nearly 52% of market share.

“Growing prevalence of chronic diseases such as diabetes and cancer in the midst of COVID-19 pandemic and high risk of infection across hospitals encouraged key players to invest in new product launches. This is expected to enable growth in the market in the coming years” says a FMI Analyst.

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Who is Winning?

Key players are focusing on new product launches and approvals. Other growth strategies adopted by leading players include, agreements, and collaborations among key manufacturers. By focusing on these strategies, key players are expanding their geographic presence and strengthening their existing product portfolio.

For instance,

• In June 2019, Baxter International Inc. announced that Myxredlin that is the first and only ready-to-use insulin for IV infusion get the US FDA approval.
• In Jan 2019, Fresenius Kabi AG launched two colourful bags via white spiral cables to supply the nutrient solution for parenteral nutrition.
• In April 2017, B. Braun Melsungen AG announced the launch of home infusion therapy App named Easypump® for healthcare professionals and patients.

Key Companies Profiled:

• CVS/Coram
• Option Care Health
• CareFusion Corporation
• BriovaRx/Diplomat (UnitedHealth Optum)
• PharMerica
• Fresenius Kabi
• CU Medical, Inc.
• B. Braun Melsungen AG
• Baxter
• BD
• Caesarea Medical Electronics
• Smiths Medical
• Terumo Corporation
• JMS Co. Ltd.

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Key Segments Covered in the Home Infusion Therapy Devices Market Report:

By Product Type:

• Disposable Elastomeric Pumps
• Insulin Pumps
• PCA Pumps
• Electronic Ambulatory Pumps
• Infusion System Accessories

By Applications:

• Enteral Nutrition
• Parenteral Nutrition
• Chemotherapy
• Antibiotic Administration
• Others

By End User:

• Home Care Settings
• Long-Term Care Centers

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Japan
• Middle East & Africa (MEA)

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Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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