New York, Oct. 17, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners latest market study on "Home Infusion Therapy Market Size, Share, Trends, Growth Strategy and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, and Geography" the global home infusion therapy market size is expected to grow from USD 32.45 billion in 2021 to USD 56.70 billion in 2028 with an estimated CAGR of 8.3% from 2022 to 2028.
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Global Home Infusion Therapy Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 32.45 billion in 2021 |
| Market Size Value by | USD 56.70 billion by 2028 |
| Growth rate | CAGR of 8.3% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Product and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Home Infusion Therapy Market: Competitive Landscape
B. Braun Melsungen AG; Optum, Inc.; Baxter; Nipro Corporation; BD; Fresenius Kabi AG; ICU Medical, Inc.; JMS Co. Ltd.; Smiths Medical; Terumo Corporation are a few of the key players profiled during the study of the home infusion therapy market. Several other major companies were analyzed during this research study to get a holistic view of the market and its ecosystem.
The home infusion therapy market is witnessing high growth due to innovations in technology, such as the development of infusion pumps; availability of home care workers; remote patient management; and transparency about the quality of care. Government initiatives and various product development by players are creating lucrative opportunities for the market. For example, in 2021, the Centers for Medicare & Medicaid Services (CMS) enacted various new requirements that expanded coverage of home infusion therapy to include a broad spectrum of the associated nursing and monitoring services, along with the treatment procedures and home infusion therapy products. However, perceived safety concerns due to the potential risk of adverse events during infusion and general drug toxicity are hampering the home infusion therapy market growth.
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Impact of COVID-19 Pandemic on Global Home Infusion Therapy Market:
The COVID-19 pandemic positively impacted the global home infusion therapy market owing to the increasing number of COVID-19 patients in healthcare settings such as hospitals and clinics, which is propelling the use of home infusion therapy systems. The operations and supply chain in the healthcare setting were significantly affected due to the regional and country-wide lockdowns in 2020. Prominent healthcare product manufacturers also reported a rise in product sales in 2020 owing to home care product sales. For instance, in October 2020, Baxter announced third-quarter sales of US$ 2.97 billion, which is a 4% increase in its revenue due to the growing demand for its COVID-19-related medical products.. With the increasing need for space and beds in hospitals during the pandemic, healthcare companies focused on launches of home based care products, thus creating demand for home infusion therapy.
Increasing Geriatric Population with Decreased Mobility Profile Boosts Global Home Infusion Therapy Market:
Partnerships and collaborations among the market players to develop new infusion products are among the factors influencing the home infusion therapy market growth. For instance, in May 2021, Smiths Medical and Ivenix partnered to provide infusion management services with the first-ever comprehensive suite of infusion solutions in the US healthcare market. Additionally, in December 2021, CarepathRx, a US-based leader in medical management and pharmacy solutions, partnered with the University of Chicago Medicine to support the need for home and specialty infusion services for the academic health system’s growing patient population. This partnership further acquired UChicago Medicine to extend its clinical reach into the ambulatory and home care setting. Also, several players in the market are focused on various organic market development approaches to boost the home infusion therapy market.
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