Home Infusion Therapy Market Size, Share & Trends Analysis Report By Product (Infusion Pumps, Needleless Connectors), By Application (Anti-infective, Chemotherapy), By Region, And Segment Forecasts, 2021 - 2028
Home Infusion Therapy Market Growth & Trends
The global home infusion therapy market size is expected to reach USD 44.7 billion by 2028. It is expected to expand at a CAGR of 8.5% from 2021 to 2028. Home infusion therapy involves the intravenous or subcutaneous administration of drugs or biological products 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 market growth. According to a report by the WHO, 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.
The ongoing COVID-19 pandemic is expected to create lucrative opportunities for the market.Due to restrictions caused by COVID-19, patients are waiting to seek treatment until they feel safe.
Moreover, patients who seek infusion therapy already have diseases that 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, the infusion pumps segment held the largest revenue share in 2020 owing to the increasing use of delivery fluids, such as nutrients and medications • The anti-infective application segment dominated the market in 2020 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 2020 owing to 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
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