Home Infusion Therapy Market Share, Growth & Forecast [2031]

Report Description

The global home infusion therapy market size was valued at USD 31.4 billion in 2020 and is expected to expand at a CAGR of 6.9% during the forecast period, 2021–2028. The growth of the market is attributed to the increased infusion device demand and rising healthcare spending throughout the world.

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Home infusion therapy is a therapeutic method in which patients are treated at home using catheters and needles to administer medications or biologicals. Immune deficiencies, cancer, and congestive heart failure are among the ailments that cannot be treated with oral drugs and infusion therapy is a means for the treatment of these diseases. Since many patients require long-term care, the therapy is widely accepted to be a more cost-effective option than inpatient treatment. The Cancer Care at Home program was launched in February 2020 by the Penn Center for Cancer Care Innovation at the University of Pennsylvania's Abramson Cancer Center to expand the availability of cancer therapies to patients at home. As per the source, the number of patients participating in the program rose to 700% from mid-March to late April.

The pandemic of COVID-19 had caused positive impact on the home infusion therapy market since the method of home infusion was the need of the hour as healthcare facilities were overburdened with COVID patients. The regional and national lockdowns had adverse impact on operations and supply chains but the market in 2020 grew tremendously. According to Medtech Dive, Baxter announced third-quarter sales of USD 2.97 billion in October 2020, up 4% from the previous year due to increased demand for COVID-related medical devices. Several individuals were hospitalized as a result of the COVID-19 pandemic and several of them had to be put on ventilators.

Market Trends, Drivers, Restraints, and Opportunities

• Patients’ preference for home setting treatment rather than in hospitals or healthcare facilities presents a key factor driving the market.
• Rising number of patients suffering from chronic illness and lack of enough space and beds in hospitals for patients is another factor that propels the market.
• Growing number of the older population who usually has lower mobility profile and their expanding desire for advanced home care settings are projected to fuel the market in the coming years.
• As the number of hospital-acquired infections rises, so does the demand for home infusion therapy. This is expected to boost the market during the forecast period.
• Product recalls and a complex reimbursement framework are major challenges that can hamper the market expansion during the forecast period.
• Rapid technological advancement and presence of advanced medical facilities in hospitals are likely to create lucrative opportunities for the market growth during the given timeline.

Scope of the Report

The report on the global home infusion therapy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Anti-infective segment to expand at a considerable CAGR

On the basis of applications, the home infusion therapy market is segmented into hydration therapy, endocrinology, parenteral nutrition, specialty pharmaceuticals, chemotherapy, enteral nutrition, anti-infective, and others. The hydration therapy segment is further bifurcated into athletes and others while the endocrinology segment is further categorized as diabetes and others. The anti-infective segment is projected to expand at a considerable CAGR during the forecast period as it aids in the reduction of patient exposure to other hospital-acquired illnesses. On the other hand, the chemotherapy segment is anticipated to account for a major market share during the forecast period due to the rising incidence of cancer. Chemotherapy pumps for home usage are small and continuous-pressure pumps that do not require a battery and, thus, can be used for extended periods of time.

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Infusion pumps segment to hold a significant share of the market

In terms of products, the market is divided into infusion pumps, ambulatory infusion pumps, IV cannulas, needleless connectors, and intravenous sets. The infusion pumps segment is further fragmented as gravity, electromechanical, elastomeric, and others. The infusion pumps segment is expected to hold a significant share of the market ascribed to rising demand for these pumps for delivering nourishment and drugs. However, the ambulatory infusion pumps segment is anticipated to account for a significant market share due to the rising popularity of home healthcare. Smart pumps are becoming popular because they have modern features such as barcode technology, which aids in the authentication of a patient's identification and prevents drug administration problems.

North America is anticipated to constitute a key market share

In terms of regions, the home infusion therapy market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the growing R&D and increased usage of new infusion pump technologies. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to increased patient knowledge of the advantages of home infusion treatment versus in-hospital procedures as well as the region's rising diabetes incidence among a large number of the population.

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