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 7.9% from 2022 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.
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.
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https://www.grandviewresearch.com/industry-analysis/home-infusion-therapy-market/request/rs1
Further key findings from the report suggest:
· By product, infusion pump emerged as the largest segment in 2021 owing to the increasing use of delivery fluids such as nutrients and medications
· The anti-infective application segment dominated the market in 2021 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 2021 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
Home Infusion Therapy Product Outlook (Revenue, USD Million, 2017 - 2030)
· Infusion Pumps
o Elastomeric Pumps
o Electromechanical
o Gravity
o Others
· Intravenous Sets
· IV Cannulas
· Needleless Connectors
Home Infusion Therapy Application Outlook (Revenue, USD Million, 2017 - 2030)
· Anti-infective
· Endocrinology
o Diabetes
o Others
· Hydration Therapy
o Athletes
o Others
· Chemotherapy
· Enteral Nutrition
· Parenteral Nutrition
· Specialty Pharmaceuticals
· Others
List of Key Players of Home Infusion Therapy Market
· 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
· JMS Co. Ltd.
Access Official Press Release Of This Report:
https://www.grandviewresearch.com/press-release/global-home-infusion-therapy-market
