According to the current analysis of Reports and Data, the global Home Infusion Therapy Market was valued at USD 23.61 billion in 2019 and is expected to reach USD 41.17 billion by the year 2027, at a CAGR of 7.2%. Infusion therapy involves the administration of drugs intravenously. It is prescribed when a patient’s condition is much severe and cannot be treated effectively by oral medications. Receiving this therapy in homecare settings rather than hospitals is referred to as home infusion therapy. Home infusion therapies are very cost-effective, and technological advancements have facilitated safe and effective administration of infusion therapies at home. The advantage infusion offers is that it helps deliver a precise dose of the drug quickly and efficiently, and in a well-controlled manner throughout the body. It is also used for irritating solutions; those that can cause pain and even damage tissues if administered by subcutaneous or intramuscular injection.
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Moving care into the home is a crucial step of change in healthcare. The approach is patient-centric. Home infusion therapy let patients reduce or even totally avoid outpatient hospital visits, and allows them to resume normal routines and work behaviors while still treating their illness. Home infusion therapy works closely with the patient to ensure that such services are appropriate and in the interest of the best patient care. Moreover, the outcome of home infusion therapy is reliable. Favorable government policies and regulations, increasing geriatric population, rapid technological developments, and increasing adoption of home infusion therapies, are some of the key factors propelling market growth in the industry.
High prevalence of chronic diseases such as HIV, cancer, diabetes is further expected to fuel market growth. Home infusion drugs are often not readily available through standard pharmacies and comparatively higher in cost. Most are obtained through hospital pharmacies, licensed home infusion agencies, or mail-order discount drug supply companies that can express deliver the drugs directly to the patient’s home. However, increasing risk with patient’s safety and the occurrence of mistakes while using infusion devices and issues related to reimbursement policies for home infusion therapy is the major hindrance to market growth during the forecast period.
Further key findings from the report suggest
- The Home Infusion Therapy Market is growing at a CAGR of 3% in the Asia Pacific, followed by North America and Europe, with 7.2 % and 6.9% CAGR, respectively. High incidence of chronic diseases and the availability of cost-effective home infusion therapies in developing and developed economies are expected to accelerate the market growth for home infusion therapy during the forecast period across all regions.
- As of 2019, the Anti-infective application segment is expected to dominate Home infusion therapy, which holds the market share of 33.9% of the global market. North America region is the chief revenue-generating source for this product segment, followed by Europe and Asia Pacific regions.
- Chemotherapy is expected to be the fastest-growing market segment during the forecast period 2020-2027, with a CAGR of 7.7%. It is also the second-largest segment in terms of revenue generation after the anti-infective segment. For instance, according to the data of cancer organizations, by 1st January 2030, it is estimated that the population of cancer survivors will increase to more than 22.1 million due to the growth and aging of the population alone.
- The infusion pumps segment led the global home infusion therapy market with a market share of more than 34.7% in 2019 and is expected to continue its dominance during the forecast period. Extensive application in delivering fluids containing nutrients and medications in controlled dosages is anticipated to fuel market growth.
- Needleless connectors segment is anticipated to witness lucrative growth with a CAGR of 7.9% registering the fastest growth during the forecast period.
- Key players in the home infusion therapy industry are taking initiatives to educate and promote home infusion therapy among the patients by providing educational tools and apps that can be utilized for infusion therapies. For instance, in October 2018, Baxter International Inc., in collaboration with the American Society for Parenteral and Enteral Nutrition (ASPEN), launched SmartPN, a tool to help reduce clinical malnutrition.
- The Asia Pacific is expected to account for 21.1% of the global Home Infusion Therapy market. Developing nations such as China and India are likely to witness high growth
- North America region accounts for the largest market share of 37.6% followed by Europe
- Key participants include Baxter, B. Braun Melsungen AG, ICU Medical Inc., Fresenius Kabi AG, Terumo Corporation, JMS Co. Ltd., CareFusion Corporation, Smiths Medical, and Caesarea Medical Electronics.
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For the purpose of this report, Reports and Data has segmented the Home Infusion Therapy on the basis of product, application, and region:
Product (Revenue, USD Million; 2017–2027)
- Infusion pumps
- Intravenous sets
- IV Cannulas
- Needleless connectors
Application (Revenue, USD Million; 2017–2027)
- Anti- infective
- Hydration therapy
- Enteral nutrition
- Parenteral nutrition
- Special pharmaceuticals
Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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