Global home infusion therapy market

Home Infusion Therapy Market Size, Share, Growth Analysis, By Indication Analysis(Enteral Nutrition, Anti-Infective, Chemotherapy, Parenteral Nutrition), By Product Analysis(Devices, Drugs, Services), By Region - Industry Forecast 2024-2031


Report ID: SQSG35J2007 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 67 | Figures: 75

Home Infusion Therapy Market Dynamics

Home Infusion Therapy Market Driver

Increasing Prevalence of Chronic Diseases 

  • The rising prevalence of chronic diseases, such as diabetes, cancer, and cardiovascular disorders, is a significant driver of the global home infusion therapy market size. With the increasing number of people needing chronic care and medication, home infusion therapy is one of the simplest and most effective options that reduce hospital visits and increase comfort levels of patients. 

Advancements in Infusion Technology 

  • Innovations in infusion technology, including smart pumps and portable delivery systems, are transforming the home infusion therapy landscape. These improvements enhance the precision of drugs dispensed, enhance the monitoring of patients, and promote the safety of treatment. New support systems promote ease of use and compatibility with d-health enhancement technologies and this makes home robotic infusion systems more attractive to patients and doctors alike. 

Restraints 

Limited Awareness and Training 

  • One major issue impeding the growth of the home infusion therapy industry is the lack of awareness and comprehension of it from healthcare professionals as well as patients. Many patients may not be aware of what home infusion therapy entails while on healthcare provider's side, they may not have received enough training on how to handle infusion therapy as well as instructing the patients on how pretreatment patient therapy, thus impairing the prospects of growth of the home infusion therapy market share. 

Potential for Complications and Infections 

  • The probability of complications, for instance, infections due to catheters can be a major hindrance to the home infusion therapy industry. As many patients receiving infusions are not properly monitored or supported, adverse events are more likely to occur. Such safety issues may make health care providers as well as patients hesitant in accepting home therapy.
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Home Infusion Therapy Market size was valued at USD 43.35 billion in 2019 and is poised to grow from USD 45.41 billion in 2023 to USD 65.2 billion by 2031, growing at a CAGR of 4.63% in the forecast period (2024-2031).

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. 'B. Braun Melsungen AG', 'Baxter International Inc.', 'Fresenius Kabi AG', 'ICU Medical, Inc.', 'Smiths Medical, Inc.', 'CareFusion Corporation', 'Terumo Corporation', 'Caesarea Medical Electronics Ltd.', 'JMS Co., Ltd.', 'Eli Lilly and Company', 'Pfizer Inc.', 'Novartis AG', 'Johnson & Johnson', 'Becton, Dickinson and Company', 'Roche Holding AG', 'Cigna Corporation', 'Optum, Inc.', 'Medtronic Plc', '3M Company', 'Omnicell, Inc.'

The rising prevalence of chronic diseases, such as diabetes, cancer, and cardiovascular disorders, is a significant driver of the global home infusion therapy market size. With the increasing number of people needing chronic care and medication, home infusion therapy is one of the simplest and most effective options that reduce hospital visits and increase comfort levels of patients. 

Shift Towards Patient-Centric Care: The global home infusion therapy market trends will soon evolve to emphasize patient-centered care by increasing patient-specific treatment plans. This trend is influenced by the increasing desire for ease and comfort thus enabling patients to control chronic diseases from the home setting with minimal hospital visits and lower care costs. 

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. 

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Global home infusion therapy market

Report ID: SQSG35J2007

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