Newark, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The home infusion therapy market is poised for substantial expansion as the demand for at-home healthcare solutions increases. Driven by advancements in medical technology and a growing preference for home-based care, this market is experiencing robust growth. The report published by The Brainy Insights shows that the global home infusion therapy market is expected to grow from USD 36.75 billion in 2023 to USD 88.61 billion by 2033, at a CAGR of 9.2% during the forecast period 2024 - 2033. North America emerged as the most significant global home infusion therapy market, with a 55% market revenue share in 2023.
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The home healthcare segment of the market has development prospects due to adequate insurance coverage for home infusion. Several firms, like Option Care Enterprises, CHI Health, and others, offer infusion therapy services in home healthcare settings, and the cost is paid by insurance. Smiths Medical and Ivenix, Inc. signed a collaboration agreement in May 2021 to deliver a comprehensive suite of infusion management solutions in the US market. This collaboration is projected to increase patient safety through evolving infusion management. Such collaborations are projected to boost market expansion in this region.
Leading companies in the industry include CVS/Coram, Option Care Health, BriovaRx/Diplomat (UnitedHealth Optum), PharMerica, Fresenius Kabi, ICU Medical, Inc., B. Braun Melsungen AG, Baxter, BD, Caesarea Medical Electronics, Smiths Medical, Terumo Corporation, and JMS Co. Ltd. among others, offer more significant opportunities and continuously focus on new product developments and venture capital investments to obtain market share.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 9.2% |
| 2033 Value Projection | USD 88.61 Billion |
| Market Size in 2023 | USD 36.75 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Product, Application, Regions |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Home Infusion Therapy Market Growth Drivers | Rising Prevalence of Chronic Diseases |
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The product segment is divided into infusion pumps, intravenous sets, IV cannulas, and needleless connectors. The infusion pumps segment dominated the market, with a market share of around 40% in 2023. The application segment is divided into total parenteral nutrition, anti-infective therapy, enteral nutrition, hydration therapy, chemotherapy, IVIg/specialty pharmaceuticals, and others. The anti-infective therapy segment dominated the market, with a market share of around 34% in 2023. It helps to decrease patient exposure to other hospital-acquired infections (HAIs).
Home infusion therapy's increase is ascribed to improved patient outcomes, cost-efficiency, and convenience. The increased population of elderly boomers with reduced mobility characteristics, such as osteoarthritis, paralysis, and diabetes, will increase demand for home infusion therapy. According to data from the Department of Economic and Social Affairs from December 2021, there were more than 250 million older adults with moderate to severe disabilities in 2020. Furthermore, a growing desire for in-home care is expected to benefit the home infusion goods and services market. The increased usability of next-generation infusion pumps has also influenced their use in home care settings.
About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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