Home Infusion Therapy Market
Growth Factors of Home Infusion Therapy Market
The home infusion therapy market size was valued at USD 37.72 billion in 2023, and the market is now projected to grow from USD 39.84 billion in 2024 to USD 92.23 billion by 2032, exhibiting a CAGR of 11.1% during the forecast period of 2024-2032.
The pandemic has delivered approximately delays in non-obligatory strategies and confined registration of infusion sufferers in hospitals. Home infusion treatment, an alternative to clinic-based definitely remedies, has shifted patients to house-based totally definitely care to keep infusion remedies. This has prompted a growth in patients receiving infusion treatment at home, as hospitals are overburdened and sources are diverted to control the pandemic.
Chronic diseases are growing globally, affecting round 133 million Americans, or 40% of the population. This has brought about a big affected person pool and expanded call for home infusion therapy. The geriatric populace, who're greater liable to continual sicknesses, is likewise using market increase. Surveys show that older adults prefer to live at home and over 80% of sufferers choose to keep away from hospitalization and intensive care in the course of their terminal segment. The destiny of persistent sicknesses may be pushed via the geriatric populace, high prevalence of these diseases amongst youngsters and more youthful adults, and growing attention of the advantages of domestic remedy. Technological advancements in home-based devices also are predicted to fuel home infusion therapy market growth.
Residential medical care is turning into increasingly more popular due to the healthcare sector's changes. Patients and healthcare carriers are increasingly more choosing outpatient settings, which includes home care, due to comfort and the launch of progressive therapies. The pandemic has increased this fashion, with improvements in technology like wearables and telemedicine enabling more secure domestic care. Comparative research show that offering distinctiveness infusion capsules in homes is value-effective, with IVIG infusion prices being 62% and 87% decrease than health facility outpatient management. This has attracted a large patient pool closer to home care as a preferred restoration choice. Healthcare groups are selling homecare, and a boom in players offering a huge variety of services is expected to grow call for home infusion services and products.
Comprehensive Analysis of Home Infusion Therapy Market
The market for anti-infective tablets is anticipated to grow appreciably in 2023, pushed by the increasing prevalence of cancer and different chronic situations. The drug section, which holds the biggest market share, is anticipated to revel in great increase due to the developing range of product approvals and the assist of regulatory bodies. The service segment is expected to see big increase due to the rise in healthcare experts and the offerings supplied through worldwide and domestic players. The devices segment is expected to see the second-highest growth due to new entrants and innovations in medication delivery systems. The anti-infective segment is expected to dominate due to its ease of setup and low cost. The chemotherapy segment is predicted to look the best increase due to the increasing occurrence of most cancers international and the growing recognition of the advantages of home-based chemotherapy. The IVIG remedy phase is also anticipated to experience strong increase due to the rise in primary immunodeficiency sicknesses.
The North America region lead the home infusion therapy market share by benefitting a market size of USD 15.76 billion in 2023 due to rapid therapy adoption and key players. A 300% increase in home infusions for various indications in the last decade is expected to further drive the market, with around 3 million US patients receiving house infusions in 2021, according to Becker's Healthcare.
The market is dominated by a few key players, including Braun Melsungen AG, Optum, Option Care Health Inc., Baxter, and B. These companies focus on developing innovative infusion pumps and expanding their geographical footprints. In 2020, they reported significant growth in revenues from home infusion treatment services due to increased COVID-19 patient access. Small market manufacturers are expanding their bases in developing nations, developing delivery devices and supplies for homecare health facilities.
In January 2024, BrightStar Care and Paragon Healthcare partnered to provide top-notch home infusion services in the U.S.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 11.1% from 2024-2032
Unit Value (USD billion)
Segmentation By Product
By Indication
- Anti-Infective
- Chemotherapy
- Hydration Therapy
- Enteral Nutrition
- Total Parenteral Nutrition
- Immunoglobulin Therapy
- Others
By Geography
- North America (By Product, By Indication, and By Country)
- U.S. (By Indication)
- Canada (By Indication)
- Europe (By Product, By Indication, and By Country/Sub-region)
- U.K. (By Indication)
- Germany (By Indication)
- France (By Indication)
- Italy (By Indication)
- Spain (By Indication)
- Scandinavia (By Indication)
- Rest of Europe (By Indication)
- Asia Pacific (By Product, By Indication, and By Country/Sub-region)
- Japan (By Indication)
- India (By Indication)
- China (By Indication)
- Australia (By Indication)
- Rest of Asia Pacific (By Indication)
- Rest of the World (By Product and By Indication)
Please Note: It will take 5-6 business days to complete the report upon order confirmation.