Home Infusion Therapy Industry Overview
The global Home Infusion Therapy Market size is expected to reach USD 61.7 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.0% from 2023 to 2030. Home infusion therapy involves the intravenous or subcutaneous administration of drugs or biologicals to an individual at home. Favorable government policies and regulations are expected to propel market growth. In February 2018, the Bipartisan Budget Act of 2018 was signed into a law that states that all temporary payments of home infusion therapy in the U.S. will be covered by the government in accordance with this regulation.
In addition, the rising prevalence of chronic diseases, such as cardiovascular diseases (CVDs), cancer, diabetes, and other life-threatening conditions, is expected to have a high impact on the market growth. According to a WHO report, the above-mentioned diseases accounted for 60.0% of the total deaths and 43.0% of the disease burden in the U.S. in 2019. This creates the need to infuse nutritional products that contain glutamine, phospholipids, glucose, and amino acids while administering medication to patients, which, in turn, is expected to boost the market growth in this region.
The ongoing COVID-19 pandemic is expected to create lucrative opportunities for the market. Due to the restrictions caused by COVID-19, patients are waiting to seek treatment until they feel safe. Moreover, patients who seek infusion therapy already have diseases, which eventually weaken their immune systems. In such cases, going outside even to receive treatment becomes a potential threat. Reduced operating hours have led to difficulty in scheduling appointments as well, even if patients choose to continue treatment. Hence, home infusion therapy is expected to play a key role in supporting patients.
Home Infusion Therapy Market Segmentation
Grand View Research has segmented the global home infusion therapy market on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into Infusion Pumps, Intravenous Sets, IV Cannulas and Needleless Connectors.
- The infusion pumps segment accounted for the largest revenue share of over 51.0% in 2022 as these pumps are widely preferred for the delivery of nutrients and medications.
- The rising demand for syringes and ambulatory pumps owing to the increasing preference for home healthcare is also anticipated to contribute to the segment growth.
Based on the Application Insights, the market is segmented into Anti-infective, Endocrinology, Hydration Therapy, Chemotherapy, Enteral Nutrition, Parenteral Nutrition, Specialty Pharmaceuticals and Others.
- The anti-infective segment dominated the market for home infusion therapy in 2022 with a revenue share of over 26.9%.
- Chemotherapy is estimated to be the fastest-growing segment over the forecast period. With the growing incidences of cancer, the demand for pressure pumps is expected to increase in the coming years.
Based on the Route of Administration Insights, the market is segmented into Intramuscular, Subcutaneously and Epidural.
Home Infusion Therapy Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile
The global market has been characterized by high competition. One of the key factors driving competitiveness among market players is the rapid adoption of advanced healthcare technology for improved healthcare services. Moreover, to retain market share and diversify their product portfolio, major players often adopt strategies such as mergers, acquisitions, and new product launches.
Some prominent players in the global Home Infusion Therapy market include
- Option Care Health
- CareFusion Corporation
- BriovaRx/Diplomat (UnitedHealth Optum)
- Fresenius Kabi
- ICU Medical, Inc.
- Braun Melsungen AG
- Caesarea Medical Electronics
- Smiths Medical
- Terumo Corporation
- JMS Co. Ltd.
Order a free sample PDF of the Home Infusion Therapy Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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