Home Infusion Therapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Home Infusion Therapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The home infusion therapy market was valued at USD 21,000 million in 2021, registering a CAGR of 6.5% during the forecast period (2022-2027).

As cases of COVID-19 have been increasing in 2020, the use of alternate site solutions rose in high demand, and home and specialty infusion providers played a critical role in supporting patients. In April 2020, to guarantee patient safety, the American Society of Clinical Oncology (ASCO) published recommendations for infusion therapy for hospital and home infusion services. According to the American Society of Clinical Oncology (ASCO), home infusion therapy may occasionally provide dangers that necessitate rapid medical attention. In these incredibly rare circumstances, the dangers connected with not having access to biological therapy may exceed the elevated risk of a home infusion.

The growth of the market is attributed to improved patient outcomes, cost-efficiency, and patient convenience provided by home infusion therapy. The growing number of baby boomers suffering from decreased mobility profiles such as osteoarthritis, paralysis, and diabetes will boost the demand for home infusion therapy. According to the Department of Economic and Social Affairs updates from December 2021, in 2020, there were more than 250 million senior citizens with moderate to severe disabilities. Additionally, a growing preference for in-home care is anticipated to positively affect the market for products and services related to home infusion. The utilization of next generation infusion pumps in home care settings has also been influenced by their improved usability. The majority of infusion pumps made for home care are portable, lightweight, and simple to use so that patients can use them independently if necessary.

The rising need to reduce the duration of inpatient stays is anticipated to fuel the market development. For instance, as per the study published in September 2021, titled ‘Predicting Patients at Risk for Prolonged Hospital Stays’, only 1.2% of hospital stays lasted more than 21 days. Patients who spent a lot of time in the hospital were younger and had more chronic illnesses. As a result, techniques for administering infusion therapy at home or in other healthcare settings have been developed, which is also anticipated to support market expansion. The majority of home infusion providers still use conventional infusion pumps, despite hospitals quickly adopting smart infusion pumps with fascinating features like EHR connectivity, drug libraries, and medication safety software. However, there has been a growing trend for up-gradation of equipment owing to its increasing demand, especially in the developed countries.

Furthermore, In 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. Moreover, in 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. The partnership will allow the integration of data from Terumo's diabetes care devices into Glooko'sdiasend diabetes data management platform. In 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. Thus, such acquisitions and product launches is expected to boost the growth of the market over the forecast period.

However, the high cost associated with the infusion pumps may hamper business growth during the forecast period.

Key Market TrendsAnti-infective Therapy Dominates the Home Infusion Therapy Market

The anti-infective therapy segment is expected to dominate the global home infusion therapy market through the forecast period. Anti-infective therapy is one of the most prescribed home infusion therapies. However, there are few risks intrinsic to such therapy, which can be reduced by a team approach, coupled with careful patient selection criteria, a structured follow-up process, and an emphasis on patient education.

The major factors for the growth of the infectious disease drugs market are the rising awareness activities by various government and non-profit organizations, the increasing prevalence of infectious diseases, and the rising funding and increasing research and development activities. For instance, according to the data published by the World Health Organization, in the Global Tuberculosis Report 2021, lesser numbers of tuberculosis cases were discovered in the Eastern Mediterranean (8.3%), the Americas (3.0%), and Europe (2.3%). The majority of tuberculosis cases were discovered in the World Health Organization (WHO) regions of South-East Asia (43%), Africa (25%), and the Western Pacific (18%). Similarly, according to the World Health Organization (WHO) data published in 2021, with 95% of all malaria infections occurring in Sub-Saharan Africa, this region is likely to continue to experience a heavy burden from the disease. Thus, the rise in the burden of several infectious diseases across the developed and emerging markets is expected to drive the market studied.

Moreover, In February 2020, the Penn Center for Cancer Care Innovation at the Abramson Cancer Center of the University of Pennsylvania launched the Cancer Care at Home initiative. It aimed to boost the proportion of cancer patients receiving in-home care. According to the company, the number of patients participating in the program surged by 700% between mid-March and late April. This indicates how the industry for home infusion has a bright future.

Thus, the increasing burden of infectious diseases in various countries and increasing research and development activities are likely to increase the demand for anti-infective therapy, thereby boosting the segment's growth.

North America Dominates the Market and the Region is Expected to Continue the Same during the Forecast Period

North America is one of the major regions in the home infusion therapy market, owing to the presence of factors such as the increasing prevalence of chronic diseases, treatment cost, technological advancements, and product launches are expected to drive regional growth. For instance, according to the Canadian Cancer Society, an estimated number of 225,800 new cancer cases were diagnosed in 2020, coupled with approximately 83,300 cancer deaths in Canada.

Also, according to the estimates of the American Cancer Society updates from 2021, In the United States alone, there were around 1.8 million new cancer cases reported in 2020. Breast cancer, lung cancer, prostate cancer, colorectal cancer, bladder cancer, and skin cancer are the most prevalent malignancies in the United States. Furthermore, due to cheap cost and improved patient mobility, there is a growing migration from acute care to home care settings, which is anticipated to spur additional expansion. The demand for regional goods is also being boosted by improvements in the healthcare industry and the use of increasingly sophisticated medical items.

On the other side, the market has growth prospects in the home healthcare segment owing to sufficient insurance coverage for home infusion. Several companies, such as Option Care Enterprises, CHI Health, etc., provide infusion therapy services in home healthcare settings, and the cost is also covered by insurance coverage. In May 2021, Smiths Medical and Ivenix, Inc. announced a partnership agreement to offer a comprehensive suite of infusion management solutions in the United States market. This partnership is expected to evolve infusion management to improve patient safety. Such partnerships are expected to bolster the growth of the market in this region.

Thus, the abovementioned factors are expected to increase the market growth.

Competitive Landscape

The market for home infusion therapy is highly competitive and consists of global as well as several regional players. Due to technological advancements, small and mid-sized companies are focusing on market penetration to grab the market share. The major players in the market include B. Braun Melsungen AG, ICU Medica, Becton Dickinson and Company, Option Care Health Inc., and CareCentrix Inc.

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