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Home Infusion Therapy Market size exceeded USD 23.3 billion in 2020 and is predicted to grow at a CAGR of over 11% between 2021 and 2027. Rapidly increasing demand for infusion devices and rising healthcare spending across the globe are anticipated to stimulate the demand for home infusion therapy.
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Ongoing enhancements in home infusion therapy such as availability & skills of care workers, professional education, transparency about the quality of care, and remote patient management will augment the market growth. The surging technological advancement in intravenous devices along with favorable government policies for senior citizens has driven the demand for home infusion therapy devices, considerably influencing the market expansion. Additionally, the rising prevalence of chronic ailments such as cardiovascular, orthopedic, diabetes, and cancer among others are expected to spur the market progression.
However, a dearth of reimbursement for home infusion therapy may hamper the market demand. Despite comprehensive support for home infusion therapy among most care organizations, private insurers, and others, several payors have decreased their reimbursement rates for individual infusion therapies. This threatens their use in various administration settings comprising home settings. Despite the inherent safety advantages of home infusion therapy and long-term cost savings, many patients can hardly afford this option owing to the inappropriate reimbursement. Hence, the reimbursement cuts may limit the industry size in the coming years. Similarly, product recall and the presence of a complicated reimbursement framework are other major factors restricting the industry growth.
The COVID-19 arose as an unprecedented public health concern worldwide and has positively impacted the home infusion therapy market value. The patients suffering from chronic diseases such as diabetes, cardiovascular disease, and cancer among others are more vulnerable and at a high risk of COVID-19. The demand and adoption of infusion devices such as infusion pumps, intravenous sets, IV cannulas, etc. in home settings have increased significantly during this pandemic. This is attributed to the surging demand for space & beds in hospitals and increased risk of coronavirus infection.
Due to COVID-19, nations across the globe have rapidly arranged services to ensure suitable care for chronically ill patients during the pandemic. The government of various nations including the U.S. has accelerated the authorization of changes in clinical practice to allow teleconsultation, thereby balanced the drawbacks of hospital visits during the pandemic.
Report Coverage | Details |
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Base Year: | 2020 |
Market Size in 2020: | 23,336.0 million (USD) |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 11.0% |
2027 Value Projection: | 48,587.8 million (USD) |
Historical Data for: | 2016 to 2020 |
No. of Pages: | 140 |
Tables, Charts & Figures: | 135 |
Segments covered: | Product, Application, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Rising hospital-acquired infection has led to an increase in demand for the home infusion therapy that is slated to drive the industry expansion positively. Increasing incidences of hospital-acquired cross-contamination and infections are a growing concern, thereby boosting the industry progression. As per the Centers for Disease Control and Prevention, on any given day, around 1 in 31 hospital patients has at least one hospital-associated infection. According to the World Health Organization, the prevalence of hospital-associated infection varies between 5.7% and 19.1% in low- and middle-income nations. Nosocomial infections that are acquired through invasive procedures occur within 48 hours after hospitalizing a patient. This entry of pathogens into the patient’s body can affect 7 to 10 out of 100 patients admitted to the hospital in developed and developing nations, respectively. Hence, the above statistics are set to positively propel the industry demand in the coming years. The growing awareness of patients towards hygiene, safety, and sanitation that helps to prevent cross-contamination and infections has also resulted in augmented acceptance of home infusion therapy.
The infusion pumps segment dominated more than 50% of the home infusion therapy market share and was valued at around USD 11.81 billion in 2020 led by the several advantages offered by infusion pumps in intravenous therapy. Infusion pumps distribute fluids such as nutrients or medications into a patient’s body in a controlled manner. Infusion pumps including insulin pumps, implantable pumps, and ambulatory chemotherapy pumps among others are useful for managing several chronic ailments. The companies operating in the market are also focusing on to introduce innovative portable and innovative infusion pumps that are important for medical or therapeutic treatments. Other factors such as the increasing prevalence of chronic diseases, the growing geriatric population, and low cost are projected to fuel the market.
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The anti-infective segment held around 27% of revenue share in 2020 impelled by the benefits provided by the anti-infective infusion therapy treatment. This intravenous infusion of antifungal, antiviral, or antibiotic drugs is highly used to treat infections that do not respond to oral therapeutics, thereby significantly driving the industry value. The surging prevalence of infectious diseases is also contributing to the segment growth. Furthermore, home infusion anti-infective therapy (HIVAT) has become an approved mode of treatment across the globe owing to the reduced risk of intravenous and infectious cannula-associated complications.
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U.S. home infusion therapy market is poised to register over USD 18.24 billion by 2027 due to multiple factors such as the growing geriatric population, favorable government initiatives, and growing hospital-acquired infection among others. According to the Population Reference Bureau, the number of Americans aged 65 and above is projected to become double from 52 million in 2018 to 95 million by 2060. The increasing prevalence of chronic diseases comprising cancer is also contributed to the industry revenue.
Some of the major companies operating in the market are B Braun Melsungen AG, Baxter International, Inc., Becton, Dickinson and Company (BD), Eli Lilly and Company, Fresenius Kabi, and ICU Medical Inc. These prominent industry leaders focus on strategic partnerships, new product launch & commercialization for business expansion. Moreover, these market participants are investing in research and development activities that allow them to garner maximum revenue share.
Market, By Product, 2016 - 2027 (USD Million)
Market, By Application, 2016 - 2027 (USD Million)
The above information is provided for the following regions and countries: