The home infusion therapy market currently stands at USD 36 billion and expected to propel the market valuation to USD 66.63 billion by 2031, reflecting a robust compound annual growth rate (CAGR) of 8% from 2024 to 2031.
List of Home Infusion Therapy Companies Profiled in Report:
- CVS/Coram
- Option Care Health
- BriovaRx/Diplomat (UnitedHealth Optum)
- PharMerica
- Fresenius Kabi
- ICU Medical, Inc.
- Braun Melsungen AG
- Baxter
- BD
- Caesarea Medical Electronics
- Smiths Medical
- Terumo Corporation
- JMS Co. Ltd.
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Multiple Forces Are Propelling The Home Infusion Therapy Market Forward
An aging population with limited mobility due to conditions like diabetes is driving demand for at-home treatment options. Hospitals, under pressure to reduce stays, see home infusion as a cost-effective alternative. Notably, Parkinson’s disease, with nearly 90,000 new US cases annually, is fueling demand for therapies like home-administered apomorphine infusion. This trend is expected to continue as the number of people with PD rises. Ultimately, improved patient outcomes, convenience, and focus on specific treatable conditions at home are propelling the market’s growth.
Hospitals are under increasing pressure to shorten patient stays. Home infusion therapy emerges as a more cost-effective alternative, allowing patients to receive treatment in the comfort of their own homes.
The rising prevalence of chronic diseases like Parkinson’s disease creates a need for therapies suitable for home administration. For instance, continuous subcutaneous apomorphine infusion for PD is a prime example, with nearly 90,000 new diagnoses annually in the U.S. alone (Parkinson’s Foundation, 2022).
User-friendly infusion pumps and smart infusion systems with features like electronic health record (EHR) connectivity and medication safety software are revolutionizing patient care and treatment efficacy.
Acquisitions like Baxter International’s purchase of Hillrom (December 2021) expand geographic reach and integrate advanced medical technology, ultimately improving patient care and reducing costs. Additionally, the FDA’s approval of Aducanumab (Aduhelm) in June 2021, the first infusion therapy for Alzheimer’s disease, represents a significant breakthrough with the potential to drive market growth.
Home Infusion Therapy Industry Segmentation as Follows:
By Product
- Infusion Pumps
- Intravenous Sets
- IV Cannulas
- Needleless Connectors
By Application
- Anti-Infective
- Endocrinology
- Hydration Therapy
- Parenteral Nutrition
- Others
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The Anti-Infective Therapy Segment Currently Dominates The Home Infusion Therapy Market
This dominance stems from the high prevalence of infectious diseases like tuberculosis and malaria globally. According to the World Health Organization (WHO), the majority of tuberculosis cases occur in Southeast Asia, Africa, and the Western Pacific regions. Similarly, Sub-Saharan Africa bears a significant burden of malaria. The rising awareness campaigns and increasing research and development activities focused on infectious diseases are expected to further propel the anti-infective therapy segment.
War and Recession Threaten Home Infusion Therapy Access
The war in Ukraine disrupts global supply chains, jeopardizing access to vital home infusion therapy supplies, medications, and equipment. Healthcare facilities in war zones may be damaged or struggle to function, hindering service provision. Additionally, displaced medical personnel specializing in home infusion therapy create a shortage of qualified professionals.
An economic downturn can also negatively impact patient access. Reduced financial resources, limited insurance coverage, and dwindling medical resources make it harder for patients to afford and receive chronic disease treatment through home infusion. Providers may also face financial strain, potentially leading to reduced staffing, limited services, or even closures, further restricting patient access to critical treatments.
North America Dominant In The Home Infusion Therapy Market
The prevalence of chronic illnesses like cancer (with nearly 1.8 million new cases reported in the U.S. alone in 2020) fuels demand for home infusion therapy. Rising treatment costs coupled with improved patient mobility are driving a shift from hospital care to home care settings, making home infusion therapy a more attractive option.
The region is at the forefront of medical technology advancements, with the development of sophisticated medical equipment further propelling market growth. Sufficient insurance coverage for home-based infusion services, offered by companies like Option Care Enterprises and CHI Health, makes treatment more accessible for patients.
Collaborations like the one between Smiths Medical and Ivenix, Inc. to enhance infusion management solutions, exemplify the focus on innovation and improved patient safety, ultimately bolstering market growth in North America.
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The Home Infusion Therapy Market Continues To See Exciting Developments
In June 2023, Baxter International is making strides in critical care at home with the introduction of the Progressa+ Next Gen ICU bed. This innovative bed improves nursing care and treatment support for patients requiring home-based intensive care.
In May 2023, Fresenius Kabi partnered with Premier, Inc. to offer the Ivenix Infusion System at competitive pricing and terms. This collaboration promotes wider adoption of the Ivenix system, known for its user-friendliness and reliability in administering infusion therapies.
Key Takeaways From Home Infusion Therapy Market Report Purchase
- Uncover the market size, growth projections, and key drivers to inform your strategic business decisions.
- Explore the rising demand in specific therapy areas and capitalize on emerging trends in the home infusion market.
- Understand potential hurdles like the impact of economic downturns and devise strategies to mitigate risks.
- Analyze market trends and competitor activity to optimize your offerings and stay ahead of the curve.
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