Global Home Infusion Therapy Market Size, Share And Trends Analysis Report 2030


 

The global home infusion therapy market size is expected to reach USD 61.7 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.0% from 2023 to 2030. Home infusion therapy involves the intravenous or subcutaneous administration of drugs or biologicals to an individual at home. Favorable government policies and regulations are expected to propel market growth. In February 2018, the Bipartisan Budget Act of 2018 was signed into a law that states that all temporary payments of home infusion therapy in the U.S. will be covered by the government in accordance with this regulation.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/home-infusion-therapy-market

In addition, the rising prevalence of chronic diseases, such as cardiovascular diseases (CVDs), cancer, diabetes, and other life-threatening conditions, is expected to have a high impact on the market growth. According to a WHO report, the above-mentioned diseases accounted for 60.0% of the total deaths and 43.0% of the disease burden in the U.S. in 2019. This creates the need to infuse nutritional products that contain glutamine, phospholipids, glucose, and amino acids while administering medication to patients, which, in turn, is expected to boost the market growth in this region.

The ongoing COVID-19 pandemic is expected to create lucrative opportunities for the market. Due to the restrictions caused by COVID-19, patients are waiting to seek treatment until they feel safe. Moreover, patients who seek infusion therapy already have diseases, which eventually weaken their immune systems. In such cases, going outside even to receive treatment becomes a potential threat. Reduced operating hours have led to difficulty in scheduling appointments as well, even if patients choose to continue treatment. Hence, home infusion therapy is expected to play a key role in supporting patients.

Home Infusion Therapy Market Report Highlights

  • By product, infusion pump emerged as the largest segment in 2022 owing to the increasing use of delivery fluids such as nutrients and medications
  • The anti-infective application segment dominated the market in 2022 as a large number of procedures are performed during the administration of medications, such as antibiotics and antifungals
  • North America dominated the global market in 2022 owing to the increasing demand for new technologies, along with advanced healthcare infrastructure
  • The Asia Pacific market is projected to witness the fastest growth over the forecast period owing to the increasing number of diabetic patients in the region

Home Infusion Therapy Market Segmentation

Grand View Research has segmented the global home infusion therapy market on the basis of product, application, and region:

Home Infusion Therapy Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Infusion Pumps
    • Elastomeric Pumps
    • Electromechanical
    • Gravity
    • Others
  • Intravenous Sets
  • IV Cannulas
  • Needleless Connectors

Home Infusion Therapy Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Anti-infective
  • Endocrinology
    • Diabetes
    • Others
  • Hydration Therapy
    • Athletes
    • Others
  • Chemotherapy
  • Enteral Nutrition
  • Parenteral Nutrition
  • Specialty Pharmaceuticals
  • Others

Home Infusion Therapy Route of Administration Outlook (Revenue, USD Million, 2017 - 2030)

  • Intramuscular
  • Subcutaneously
  • Epidural

Regional Insights

North America dominated the market in 2022 with a revenue share of over 56.5% and this trend is expected to continue throughout the forecast period. This can be attributed to the increasing R&D in the region and the rising adoption of new technology in infusion pumps. The increasing need for long-term therapy for patients with certain conditions is driving the regional market. Development of alternate healthcare settings and home infusion services and shifting preference from acute care to home care settings due to the low cost and enhanced patient mobility would boost the growth of this market in the coming years.

The Asia Pacific market is expected to register the fastest CAGR of 9.9% over the forecast period. This is attributed to rising patient awareness regarding the benefits of home infusion therapy over in-hospital procedures and the growing prevalence of diabetes in the region. The growing geriatric population and the rise in chronic diseases in the region are expected to further fuel the market growth. According to the Times of India, around 75 million people over the age of 60 years suffer from some chronic disease in India, which might increase the adoption of home care services in the country.

List of Key Players of Home Infusion Therapy Market

  • CVS/Coram
  • Option Care Health
  • CareFusion Corporation
  • BriovaRx/Diplomat (UnitedHealth Optum)
  • PharMerica
  • Fresenius Kabi
  • ICU Medical, Inc.
  • Braun Melsungen AG
  • Baxter
  • BD
  • Caesarea Medical Electronics
  • Smiths Medical
  • Terumo Corporation
  • JMS Co. Ltd.

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/home-infusion-therapy-market

Comments

Post a Comment

Popular posts from this blog

Virtual Clinical Trials Market Size Reaches USD 12.9 Billion By 2030

Image
  The global  virtual clinical trials market  size is expected to reach USD 12.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.7% from 2022 to 2030. The COVID-19 pandemic has significantly impacted the market. The growing need for patient diversity clubbed with enhanced data collection in clinical trials is boosting the market growth. There has been a rise in the R&D of new drugs and vaccines that has increased the volume and complexity of clinical trials. Virtual clinical trials eliminate challenges posed by traditional clinical trials for example delays in patient recruitment and time-consuming procedures. Also, studies have revealed that around 75.0% of people favored a mobile trial over traditional ones and 80.0% of patients are more likely to participate in a clinical trial that uses mobile technology. The market is recovering at a significant pace after the pandemic as it offers various benefits to pati
Read more

Industrial Refrigeration Systems Market Size, Share & Trends Report, 2030

Image
  Industrial Refrigeration Systems Market Growth & Trends The global  industrial refrigeration systems market  size is anticipated to reach USD 27.66 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030, according to a new report published by Grand View Research, Inc. The demand for industrial refrigeration is increasing due to the fast-moving consumer goods and retail food which needs efficient storage for perishable edible items. Governments are taking initiatives to support and strengthen the cold chain infrastructure and shifting towards eco-friendly refrigeration systems. Global warming and climate change have alarmed nations to take the necessary step to curb the crisis. As a result, industrial refrigeration system manufacturing companies have expressed concerns regarding the potential of global warming and ozone depletion of their refrigerants. As a result, companies are focusing on technologies to offer improved cost-effectiveness, lesser toxic refrigerants, lower
Read more

U.S. Virtual Visits Market Size To Reach USD 105.5Bn By 2030

Image
  U.S. Virtual Visits Market Growth & Trends The  U.S. virtual visits market  size is expected to reach USD 105.5 billion by 2030, expanding at a CAGR of 29.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing demand for telehealth and teleconsultation and introduction of new and advanced technologies has positively impacted the growth of the market in the U.S. Increasing penetration of smartphones and assisted technologies has also been a key factor for the fast growth of the market. In the service segment, cold and flu management had the largest market share in 2022. The major factor behind the growth of the market is the growing demand for teleconsultations for patients for treatment of common conditions like cold and flu to reduce the chances of contracting additional illnesses due to hospital visits. The availability of specialists through telehealth and teleconsultations, even in remote areas has brought about a revolution in the virtual
Read more