The home infusion therapy market was valued at USD 20,976 million in 2020 and it is expected to reach USD 31,415 million by 2026, registering a CAGR of 6.5% during the forecast period.
As cases of COVID-19 had been increasing in the year 2020, the use of alternate site solutions rose in high-demand, and home and specialty infusion providers played a critical role in supporting patients. In April 2020, the American Society of Clinical Oncology (ASCO) issued guidelines for the infusion therapies for hospital and home infusion services, in order to ensure the safety of patients. The American Society of Clinical Oncology (ASCO) reported that there may be rare circumstances of risks with home infusion therapies that could need immediate medical necessities. In these highly unusual situations, the increased risk of a home infusion may be outweighed by the risks associated with the lack of access to biologic therapy.
The growth of the market is attributed to improved patient outcomes, cost-efficiency, and patient convenience provided by home infusion therapy. The growing number of baby boomers suffering from decreased mobility profiles such as osteoarthritis, diabetes will boost the demand for home infusion therapy. According to the Department of Economic and Social Affairs, there are more than 250 million older people experience moderate to severe disability. Moreover, a rising preference for home care is expected to have a positive impact on the demand for home infusion products and services. The increasing user-friendliness of new generation infusion pumps has also been driving their usage in-home care settings. Most of the infusion pumps designed for home care are lightweight, mobile, and easy-to-use so that patients can also operate the pumps by themselves if needed.
The rising need to reduce the duration of inpatient stays is anticipated to fuel the market development. According to the American Hospital Association, around 36,241,815 hospital admissions were there in all the US hospitals during the year 2019. This has encouraged the development of strategies for the administration of infusion therapy at home or alternate healthcare settings which will is also likely to contribute to the market growth. While hospitals have rapidly adopted smart infusion pumps with interesting features, such as EHR integration, drug libraries, and medication safety software, most home infusion providers continue to use traditional infusion pumps. However, there has been a growing trend for up-gradation of equipment owing to its increasing demand, especially in the developed countries.
Furthermore, extensive application in delivering fluids containing medications and nutrients-controlled dosages is expected to propel the market growth. The advent in technology such as CADD-Solis Ambulatory Infusion Pump by Smiths Medical, catering to the requirements of home care like portable and user-friendly pumps, is also anticipated to fuel the market development. However, the high cost associated with the infusion pumps may hamper business growth during the forecast period.
Key Market Trends
Anti-infective Therapy Dominates the Home Infusion Therapy Market
The anti-infective therapy segment is expected to dominate the global home infusion therapy market through the forecast period. Anti-infective therapy is one of the most prescribed home infusion therapies. Though there are few risks intrinsic to such therapy they can be reduced by a team approach, coupled with careful patient selection criteria, a structured follow-up process, and an emphasis on patient education.
Home infusion Anti-infective therapy can be indicated to various types of infections such as Catheter sepsis, Cellulitis, Chronic urinary tract infections (UTI), Pneumonia, Cystic fibrosis (CF), Fungal infections amongst others. According to the WHO, in 2018, influenza can cause severe sickness or death mainly in patients at high risk, and the illness range from mild to severe and even death. In addition, this annual increase is projected to result in about 3-5 million cases of severe illness, and about 290 000-650 000 deaths worldwide. Thus, the rise in the burden of several infectious diseases across the developed and emerging markets is expected to drive the market studied.
Moreover, market players are adopting various inorganic growth strategies in order to gain a competitive edge. For instance, In October 2018, Shift Labs entered into a collaboration with New England Life Care (NELC), a leading regional provider of home infusion services throughout northern New England to expand its footprint in the home and alternate site infusion market.
North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
North America is one of the major regions in the home infusion therapy market owing to the presence of factors such as the increasing prevalence of chronic diseases, treatment cost, technological advancements, and product launches are expected to drive regional growth. For instance, according to the Canadian Cancer Society, an estimated number of 225,800 new cancer cases were diagnosed in 2020 coupled with approximately 83,300 cancer deaths in Canada.
Also, according to the estimates of the American Cancer Society, 2019, there were about 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths, due to cancer in the United States. The most common cancers in the United States are breast cancer, lung cancer, prostate cancer, colorectum cancer, bladder cancer, and skin cancer. Moreover, there is an increasing shift from acute care to home care settings due to low cost and enhanced patient mobility that is expected to boost the growth further. Also, advancements in the healthcare sector and the implementation of more developed medical products are augmenting the regional product demand.
On the other side, the market has growth prospects in the home healthcare segment owing to sufficient insurance coverage for home infusion. Several companies, such as Option Care Enterprises and CHI Health etc., provide infusion therapy services in home healthcare settings and the cost is also covered by the insurance coverage
The market for home infusion therapy is highly competitive and consists of global as well as local players. Due to the technological advancements, small and mid-sized companies are focusing on market penetration to grab the market share. The major players in the market include B. Braun Melsungen AG, ICU Medica, Becton Dickinson and Company, Option Care Health Inc., and CareCentrix Inc.
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Growing Numbers of Baby Boomers Suffering From Decreased Mobility
- 4.2.2 Growing Incidence of Hospital Acquired Infections
- 4.2.3 Increasing Adoption of Home Healthcare Coupled with Technological Advancements
- 4.3 Market Restraints
- 4.3.1 High Cost of Infusion Pumps
- 4.3.2 Safety Issues Associated with Infusion Pumps
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Product
- 5.1.1 Infusion Pump Sets
- 5.1.2 Accessories & Consumables
- 5.2 By Applications
- 5.2.1 Total Parenteral Nutrition
- 5.2.2 Anti-infective Therapy
- 5.2.3 Enteral Nutrition
- 5.2.4 Hydration Therapy
- 5.2.5 Chemotherapy
- 5.2.6 IVIg/Specialty Pharmaceuticals
- 5.2.7 Other Applications
- 5.3 Geography
- 5.3.1 North America
- 220.127.116.11 United States (By Product and By Application)
- 18.104.22.168 Canada (By Product and By Application)
- 22.214.171.124 Mexico (By Product and By Application)
- 5.3.2 Europe
- 126.96.36.199 Germany (By Product and By Application)
- 188.8.131.52 United Kingdom (By Product and By Application)
- 184.108.40.206 France (By Product and By Application)
- 220.127.116.11 Italy (By Product and By Application)
- 18.104.22.168 Spain (By Product and By Application)
- 22.214.171.124 Rest of Europe (By Product and By Application)
- 5.3.3 Asia-Pacific
- 126.96.36.199 China (By Product and By Application)
- 188.8.131.52 Japan (By Product and By Application)
- 184.108.40.206 India (By Product and By Application)
- 220.127.116.11 Australia (By Product and By Application)
- 18.104.22.168 South Korea (By Product and By Application)
- 22.214.171.124 Rest of Asia-Pacific (By Product and By Application)
- 5.3.4 Middle East and Africa
- 126.96.36.199 GCC (By Product and By Application)
- 188.8.131.52 South Africa (By Product and By Application)
- 184.108.40.206 Rest of Middle-East and Africa (By Product and By Application)
- 5.3.5 South America
- 220.127.116.11 Brazil (By Product and By Application)
- 18.104.22.168 Argentina (By Product and By Application)
- 22.214.171.124 Rest of South America (By Product and By Application)
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 B. Braun Melsungen AG
- 6.1.2 Baxter International
- 6.1.3 Becton Dickinson and Companies
- 6.1.4 Catholic Health Initiatives
- 6.1.5 Community Surgical Supply
- 6.1.6 Eli Lilly and Company
- 6.1.7 Fresenius Kabi
- 6.1.8 ICU Medical Inc.
- 6.1.9 McKesson Medical-Surgical Inc.
- 6.1.10 McLaren Health Care
- 6.1.11 Nipro Corporation
- 6.1.12 Option Care Health Inc.
- 6.1.13 Smiths Medical
- 6.1.14 Sutter Health
- 6.1.15 Terumo Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS