Home Infusion Therapy Market Is Extrapolated To Reach A Value Of $ 61.7 Billion By 2030

  

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 7.9% from 2022 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.

 

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, needleless connectors.

• The infusion pumps segment accounted for the largest revenue share of over 50.0% in 2021 as these pumps are widely preferred for the delivery of nutrients and medications.
• The availability of a variety of products such as enteral, syringe, multichannel, and peristaltic pumps further contributes to the segment growth. 
• 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.
• Smart pumps are widely used as these pumps contain advanced features such as barcode technology, which helps in the verification of a patient’s identity and prevents drug administration errors.
• Needleless connectors are anticipated to register the highest CAGR over the forecast period. These connectors offer improved safety, enable smooth surgeries, and help adhere to good clinical practice (GCP), which contributes to the growth of the segment.

 

Based on the Application Insights, the market is segmented into anti-infective, endocrinology, hydration therapy, chemotherapy, enteral nutrition, parenteral nutrition, specialty pharmaceuticals, others.

• The anti-infective segment dominated the market for home infusion therapy in 2021 with a revenue share of over 25.0%.
• This is attributed to the considerable number of procedures performed for the administration of antifungal and antibiotic drugs. It also helps reduce exposure to patients with other hospital-acquired infections (HAIs).
• 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.
• Pumps used for chemotherapy at home are compact, continuous pressure pumps that do not require a battery and can hence be used for a longer period of time. With the help of these pumps, chemotherapy drugs can be administered at the appropriate infusion speed and in the right amounts.

 

Home Infusion Therapy Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

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:

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

 

Market Industry Development

• December 2021: Baxter International completed the acquisition of Hillrom. This acquisition will help the company in broadening its geographic footprint and integrating medical device technology that will enhance patient care, lower costs, and increase workflow efficiency.
• May 2021: Smiths Medical and Ivenix, Inc. announced a partnership agreement to offer a comprehensive suite of infusion management solutions in the U.S. market. 
• March 2021: Terumo and Glooko, a remote patient monitoring software and mobile apps company, announced technological integration to deliver new diabetes data solutions together globally. 
• May 2020: Baxter International announced that the company had received CE marking and marketing approval from the Australian Therapeutic Goods Administration for Evo IQ Syringe Infusion System. 

 

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.