Home infusion therapy is receiving medication by intravenous injection at home. The infusion pump is a medical device that delivers fluids into the bloodstream incorrect amounts. Infusion therapy is the most common method of administering a drug by a needle and inserted into a vein, it delivers antibiotics, and medicine directly into the bloodstream. When the patient is not able to take medications orally then IV therapy is suggested by the doctors. Some serious diseases like cancer, gastrointestinal diseases, dehydration, and autoimmune diseases required this kind of therapy; it is used to see the more effective results. Three things are required for the home infusion therapy that is equipment, the medicine, and supplies. Doctors, Nurses educate patients or caretakers on how to self-administer the medicine at home and they come regularly to visit and diagnose the patient. According to NHIA home and specialty, the infusion is a USD 19 billion industry. In the USA there are over 900 providers of this service who serve 3.2 million patients annually. Thus, Home Infusion Therapy Market is expected to grow larger during the forecasted period.
Major Key Players for Home Infusion Therapy Market:
- Option Care Health
- BriovaRx/Diplomat (UnitedHealth Optum)
- Fresenius Kabi
- ICU Medical Inc.
- B. Braun Melsungen AG
- Caesarea Medical Electronics
- Smith’s Medical
- Terumo Corporation
- JMS Co. Ltd.
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Market Dynamics and Factors:
Home infusion therapy is used to treat diseases like cancer and cancer-related pain, congestive heart failure, dehydration, hemophilia, gastrointestinal diseases, and immune deficiencies. These are serious diseases and the number of patients suffering from this kind of disease is greater than the availability of beds in the hospitals. So, the patient which is out of danger and requires continuous therapy is shifting to words home infusion therapy which allows the patient to get treated on their own at home. After discharge, a patient needs basic knowledge about the treatment and involvement of home infusion therapy in their treatment boosting the growth of the home infusion therapy market. In the COVID-19 pandemic situation, the infected population is high comparatively the available beds in hospitals so most of the people are getting diagnosed and treated by doctors digitally at home. So this gives high growth to the home infusion therapy market.
Home Infusion Therapy Market Report Highlight:
- By product type, the infusion pump is expected to have the maximum market share, during the projected period. Infusion pumps provide several advantages over manual fluid administration, including the ability to administer fluids in extremely tiny amounts and at precisely set rates or intervals which boosts the growth of this segment.
- By infusion type, the continuous segment is expected to dominate the market share during the forecast period. Continuous infusion keeps the concentration of microbubbles constant, reducing the possibility of artifacts. Myocardial blood flow can be determined if there is a steady-state concentration of contrast, as both myocardial blood volume and microbubble velocity may be measured. Therefore, the segment’s growth attributing to the growth of the Home Infusion Therapy Market.
- By application, Anti-infective treatment (antibiotics, antifungals, and antivirals), which may be properly treated at home, is one of the most commonly prescribed home infusion therapies. Cystic fibrosis, Lyme disease, Osteomyelitis, and other infections requiring long-term anti-infective medication can all be caused by several factors. Therefore, the constant requirement for therapy in such diseases boosts the segment’s growth.
- North America is anticipated to grab the maximum market share of the Home Infusion Therapy market over the projected period. Growing patient of chronic diseases due to changing eating habits of the people in this region which give the burden on the primary healthcare infrastructure that give growth for home infusion therapy.
- The European market is growing substantially in the Home Infusion Therapy Market. Traditional patient care practices are changing in Europe due to demographic, epidemiological, socioeconomic, and cultural changes. As a result of shifting demographics, home infusion treatments are becoming increasingly popular. The population structure of European Union (EU) nations will change substantially shortly.
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Key Industry Development:
- In April 2020, UCLA Health made a partnership with CVS Health to enhance its existing capacity and capabilities to treat more patients effectively in the home their homes, and to lower the burden of the COVID-19 crisis on hospitals.
- June 2021, Humana Inc has declared the signing of a formal agreement to purchase One Homecare Solutions. Humana’s ambition to establish a value-based home health solution will be advanced by this purchase.
Home Infusion Therapy Market Segmentation:
- IV Cannulas
- Infusion Pumps
- Needleless Connectors
- Intravenous Sets
By Infusion Type
- Secondary IV
- IV Push
- Enteral Nutrition
- Parenteral Nutrition
- Specialty Pharmaceuticals
For this report, Introspective Market Research has segmented the Home Infusion Therapy Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Home Infusion Therapy Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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