USD 35.4 billion
Report ID:
SQSG35J2007 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
67
|Figures:
75
Home Infusion Therapy Market size was valued at USD 45.41 Billion in 2023 and is poised to grow from USD 47.51 Billion in 2024 to USD 68.22 Billion by 2032, growing at a CAGR of 4.63% during the forecast period (2025-2032).
It is now more affordable for patients to receive care at home as opposed to in a hospital or other care facilities. It has decreased hospital expenses, which is a major factor in increasing the demand for this treatment worldwide. Some important aspects that are expected to drive the market include the growing advancements in infusion healing devices intended for home use and the increase in patient preference for homecare, particularly for infusion treatment. Many nations postponed or delayed all elective surgeries due to the ongoing coronavirus outbreak. The main causes include hospitals being overloaded with COVID-19 patients and most resources being redirected to combat the pandemic.
As a result, several patients switched to home-based treatment in order to continue receiving infusion therapies. Numerous home infusion service providers, like Option Care Health Inc., are collaborating with hospitals to make it easier for patients to obtain treatment in home care settings. Furthermore, in order to create a personalised development care plan and offer patients who require infusion therapy at home specialised medications and supplies, the house infusion service providers are forming a solid network with pharmacies. The need for home infusion supplies and services has increased as a result of these reasons, particularly in industrialised nations.
US Home Infusion Therapy Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 35.4 billion
Largest Segment
Anti-Infectant
Fastest Growth
Anti-Infectant
Growth Rate
8.1% CAGR
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Global Home Infusion Therapy Market is segmented by Product, Application, Administration and Region. Based on Product, the market is segmented into Infusion Pumps (Elastomeric, Electromechanical, Gravity, Others), Intravenous Sets, IV Cannulas, Needleless Connectors. Based on Application, the market is segmented into Anti Infective, Endocrinology (Diabetes, Others), Hydration Therapy (Athletes, Others), Chemotherapy, Enteral Nutrition, Parental Nutrition, Specialty Pharmaceuticals, Others. Based on Administration, the market is segmented into Intramuscular, Subcutaneously, Epidural. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Home Infusion Therapy Market Analysis by Product
As per categorization by product, the market is classified as intravenous set, needleless catheter and infusion pump. Among these, the intravenous set earned the largest share and continues to dominate the market. The global home infusion therapy market is experiencing significant innovation, particularly in the development of advanced intravenous (IV) sets that enhance safety and patient comfort. Such advances entail the use of smart intravenous (IV) infusion sets that have inbuilt sensors for monitoring parameters and automated delivery systems to ensure the correct doses are delivered. Infusion sets dominate this market due their ability to perform a wide range of therapies, suitability for use in home environments, and the rising trend of outpatient care that is tailored towards home-based health care.
The infusion pump segment is poised to be the fastest-growing sub-segment in the global home infusion therapy market due to several key factors. The growing number of incidences of chronic diseases such as diabetes and cancer which entail prolonged medication dispensing is creating a need for dependable and sophisticated infusion systems. Second, the infusion system has undergone a lot of transformations where precise smart infusion pumps have come into place with features like dose accuracy settings, programmable functions and real time monitoring of the pump about the patient thus improving the safety of the patient. Moreover, home healthcare is gaining popularity due to the efficient and cheaper mode of treatment-it definitely entrenches the infusion pump as an integral part of home infusion therapy solutions.
Home Infusion Therapy Market Analysis by Application
Current innovations in chemotherapy applications within the home infusion therapy industry focus on improving patient comfort and safety. Sophisticated infusion devices, such as portable pumps or pre-filled syringes, allow the patients to carry out the chemotherapy agent's infusion at home, thus minimizing the hospital visits. The improvement of the patient's satisfaction is also due to the new drug delivery systems, as well as better formulations and therapy, for instance, anti-vomiting drugs. Increasing number of chemotherapy market applications can be explained by the growing number of cancer patients and the preference over home care where patients can be treated comfortably, cheaply and with a higher standard of life during the anticancer treatment.
The diabetes application segment is set to become the fastest-growing region in the global home infusion therapy market due to the escalating prevalence of diabetes worldwide and the increasing focus on personalized treatment regimens. The new devices that have come into the market, such as smart pumps and continuous glucose monitors, are improving patient compliance and also helping in the control of blood sugar levels. Furthermore, there is an increasing preference for self-management and economical care which promotes the development of effective home infusion therapies for the patients. All these factors together justify the need for diabetes applications in home infusion therapy, which seeks to meet the change in the healthcare delivery approach to patients.
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The global home infusion therapy market is largely dominated by North America due to a number of reasons such as the presence of developed healthcare systems, high technological adoption rates and an increase in the population that is elderly and suffers from chronic medical illnesses that need continuous care. New devices such as smart pumps and continuous glucose monitors that have emerged into the market are helping improve patient compliance and also assist in management of blood sugar levels. In fact, self-management and cost-effective care are on the rise leading to the need for better home infusion therapies for the patients. North America’s home infusion therapy market share is fueled by the presence of key market players and continuous infusion technology advancements.
Europe is emerging as the fastest-growing region in the global home infusion therapy market analysis, driven by an increasing demand for personalized healthcare solutions and a strong emphasis on cost-effective treatment options. The increase in the prevalence of chronic illnesses, especially diabetes and heart diseases, drives the demand for home infusion therapies. Furthermore, in addition to that, government policies encouraging home personalization and remuneration of care services have also been beneficial to the growth of home health care services in countries in Europe. With an increasing share of the elderly population in all countries, as well as rubbish like pocket onco-infusion pumps and smart infusion systems, home care infusion therapy is more appealing to the patients and is thereby booming in Europe.
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Home Infusion Therapy Market Driver
Increasing Prevalence of Chronic Diseases
Advancements in Infusion Technology
Restraints
Limited Awareness and Training
Potential for Complications and Infections
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The competitive landscape of the global home infusion therapy market outlook is characterized by the presence of numerous established players and emerging companies focusing on innovative solutions. Some of the major foreign players are Baxter International, B. Braun Melsungen AG, Smiths Medical, and Fresenius Kabi. These companies are continually working to create new infusion devices which enhance the safety and comfort of patients, while also widening their range of products. Strategic alliances and technological developments are among the key drivers of competition and market growth in this dynamic sector.
Top Players in Global Home Infusion Therapy Market
Home Infusion Therapy Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, in conclusion, the home infusion therapy industry is experiencing significant growth driven by various factors, including advancements in technology, a shift toward patient-centered care, and the rising prevalence of chronic diseases. Patients increasingly prefer home-based treatments due to their affordability and convenience, particularly in light of the COVID-19 pandemic. Innovations and partnerships to improve home care systems by firms like Option Cares Health Inc. and large manufacturing firms offer prospects for further market growth under the service category. With North America and Europe at the forefront, home infusion therapy seems to have a bright future, which is capable of adapting to the changing patient population around the world.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 35.4 billion |
Market size value in 2031 | USD 71.8 billion |
Growth Rate | 8.1% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Home Infusion Therapy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Home Infusion Therapy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Home Infusion Therapy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Home Infusion Therapy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQSG35J2007
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