Global Home Infusion Therapy Market Forecast Report By Product (Infusion Pump, Intravenous Sets, IV Cannulas, Needleless Connectors), Application (Anti-Infective, Hydration Therapy, Chemotherapy, Enternal Nutrition, Parenteral Nutrition, Specialty Pharmaceuticals, Others), Countries and Company Analysis 2024-2032

Driving forces for home infusion therapy

An increase in the population with chronic illnesses— The market for home infusion therapy has grown dramatically as a result of the rise in chronic diseases, which has raised the need for affordable and practical healthcare solutions. Intravenous drugs or medicines that can be given at home are frequently needed for long-term treatment of chronic ailments such as cancer, autoimmune disorders, and infectious infections. For instance, the WHO (World Health Organisation) estimates that 133 million Americans, or 40% of the nation's overall population, suffer from chronic illness. Patients can get home infusion therapy treatments in the comfort of their homes, lowering the need for frequent hospital trips and enhancing quality of life overall. The increased need for individualized healthcare experiences and the progress made in medical technology encourage this trend. To address the demands of a growing number of people with chronic illnesses, home infusion therapy becomes increasingly crucial as healthcare systems work to reduce costs and enhance patient outcomes.

The growing aging population- The market for home infusion therapy is expected to increase significantly as the population ages, partly because chronic diseases are becoming more common and because people want more accessible access to healthcare. According to the Global Ageing Survey 2019, there will be a notable rise in older adults, with 1 in 11 expected to be 65 or older in 2019 and 1 in 6 by 2025. Furthermore, according to US Census Bureau estimates, by 2060, there will be over 98 million Americans 65 and older, double the 46 million that existed in 2016, while the percentage of older people worldwide will rise from 15% to roughly 24%. By 2050, the rate of adults 60 and older will increase dramatically in most regions except Africa. This demographic shift and an increase in persistent circumstances drive the market for home infusion remedies. Elderly patients can receive these treatments at home with home infusion therapy, which lessens the strain of travel and creates a cozy setting for care. Moreover, home-based healthcare is a desirable alternative because older people typically desire to retain their independence and autonomy.

Technological advancements- The market for home infusion therapy is expanding mainly due to technological advancements that improve the ease, efficacy, and safety of giving intravenous treatments at home. With features like automatic monitoring and alarms, modern infusion pumps ensure patient safety while accurately delivering drugs and fluids. With wireless connectivity and remote monitoring devices, medical practitioners may keep an eye on patients' vital signs and therapy compliance from a distance, enabling timely intervention when needed.  Additionally, the seamless communication between patients, caregivers, and healthcare professionals is made possible by integrating telehealth platforms and electronic health records (EHR), which improves patient management and care coordination. 

North America Home Infusion Therapy Market

Due to factors including chronic illness rates, treatment costs, new product releases, and technical developments, North America is one of the critical areas in the home infusion therapy market. These factors are also likely to fuel regional expansion. For example, projections from the American Cancer Society update from 2021 state that there were about 1.8 million new cancer cases reported in the United States alone in 2020.

Furthermore, the most common cancers in the United States include skin, lung, prostate, colorectal, bladder, and colorectal cancers. Furthermore, there is a notable transition from acute care to home care environments due to the more affordable and improved patient mobility, which is anticipated to propel additional expansion.  Improvements in the healthcare sector and the usage of more advanced medical supplies are also driving up demand for local goods.

North America is expected to hold the dominant position during the forecast period. This is attributed to the region's growing R&D expenditure and the growing uptake of innovative infusion pump technologies. The ever-increasing need for long-term therapy for individuals with specific illnesses is driving the regional market. This market will grow faster in the upcoming years owing to the development of alternative healthcare venues, home infusion services, and a shift in patient choice from acute care to home care settings because of the lower costs and increased mobility.

Home Infusion Therapy Company Analysis

The top electric wheelchair companies are Pfizer Inc., Smith & Nephew plc, Terumo Corporation, Johnson & Johnson Services, Inc., Becton, Dickinson and Company, Baxter International Inc., ICU Medical, and Eli Lilly and Company.

Home Infusion Therapy Company News

In June 2023, American healthcare business Baxter International designed the Progressa+ Next Gen ICU bed to let patients with critical requirements get critical care at home. This technology may help nurses better attend to their patients and facilitate at-home therapy.

In May 2023, the cost and term advantages of the Ivenix Infusion System were determined by an agreement started by the international healthcare firm Fresenius Kabi and the American healthcare company Premier, Inc. This technology aims to improve the simplicity and dependability of infusion pumps.

In May 2023, Option Care Health, a healthcare service provider, developed an independent platform for home care services in partnership with Amedisys Inc., a top supplier of home health services. This platform brings together pharmacists, dieticians, therapists, social workers, and other professionals to provide top-notch healthcare services at home.

In April 2023, CareFusion, which is currently part of the American medical technology business Becton Dickinson, introduced cutting-edge ultrasound technology to help physicians perform the best IV insertions. Over 90% of hospitalized patients receive IV therapy, which helps the home infusion therapy industry expand.

In January 2022, to establish a market-leading infusion therapy company with a combined turnover of USD 2.5 billion, ICU Medical, a global operations company with its headquarters in California, successfully acquired Smiths Medical from Smiths Group Plc.

Product – Market breakup in 4 viewpoints:

1. Infusion Pump
2. Intravenous Sets
3. IV Cannulas
4. Needleless Connectors

Application – Market breakup in 7 viewpoints:

1. Anti-Infective
2. Hydration Therapy
3. Chemotherapy
4. Enternal Nutrition
5. Parenteral Nutrition
6. Specialty Pharmaceuticals
7. Others

Country – Market breakup of 25 Countries:

North America

•    United States
•    Canada

Europe

•    France
•    Germany
•    Italy
•    Spain
•    United Kingdom
•    Belgium
•    Netherland
•    Turkey

Asia Pacific

•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Thailand
•    Malaysia
•    Indonesia
•    New Zealand

Latin America

•    Brazil
•    Mexico
•    Argentina

Middle East & Africa

•    South Africa
•    Saudi Arabia
•    UAE

Rest of the World
 

All the key players have been covered from 4 Viewpoints:

•    Business Overview
•    Product Portfolio
•    Recent Development & Strategies
•    Revenue Analysis

Key Players Analysis:

1. Pfizer Inc.
2. Smith & Nephew plc
3. Terumo Corporation
4. Johnson & Johnson Services, Inc.
5. Becton, Dickinson and Company
6. Baxter International Inc.
7. ICU Medical
8. Eli Lilly and Company

Report Details: