Home Infusion Therapy Market Size Projected To Reach USD 71.82 Billion By 2032, With 8.36% CAGR – SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) Home Infusion Therapy Market Growth is Driven by Increasing Geriatric Population, Technological Advancements, and Demand for Home Care.

Pune, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Home Infusion Therapy Market Size & Growth Analysis:

The Home Infusion Therapy Market size was valued at USD 35.98 billion in 2023 and is projected to reach USD 71.82 billion by 2032, expanding at a compound annual growth rate (CAGR) of 8.36%, according to a new market report published by SNS Insider.

The Home Infusion Therapy market is significantly propelled by the increasing demand for home healthcare solutions. With the aging population and the rising prevalence of chronic diseases, patients are seeking alternatives to traditional hospital care. The World Health Organization (WHO) estimates that by 2030, approximately 1 in 6 people will be over the age of 60, creating an urgent need for accessible healthcare services that accommodate this demographic shift. Additionally, chronic diseases such as diabetes and heart disease are on the rise, necessitating ongoing treatments that can often be managed more effectively at home. According to the Centers for Medicare & Medicaid Services (CMS), home healthcare spending in the U.S. reached USD 100 billion in 2023, illustrating the growing preference for home-based therapies. This shift not only enhances patient comfort but also reduces healthcare costs associated with prolonged hospital stays. As healthcare providers and systems adapt to these trends, home infusion therapy has become a vital component of the continuum of care, enabling patients to receive necessary treatments while maintaining their independence.

Get a Sample Report of Home Infusion Therapy Market@

Key Home Infusion Therapy Market Players:

• 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.
• Others

Home Infusion Therapy Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 35.98 Billion
Market Size by 2032	US$ 71.82 Billion
CAGR	CAGR of 8.36 % From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

Home Infusion Therapy Market Key Segmentation:

By Product

• Infusion Pumps
• Intravenous Sets
• IV Cannulas
• Needleless Connectors

By Application

• Anti-Infective
• Endocrinology
• Chemotherapy
• Enteral Nutrition
• Parenteral Nutrition
• Others

By Route of Administration

• Intramuscular
• Subcutaneously
• Epidural

Segmental Insights

Subcutaneous administration accounted for 65% of the home infusion therapy market in 2023, primarily due to its ease of use and comfort for patients. The National Institutes of Health (NIH) reports that patients prefer subcutaneous infusion for long-term therapies, such as those for chronic conditions like diabetes, due to the reduced risk of complications and the convenience it offers. Patients and caregivers can easily manage subcutaneous devices with minimal training, fostering greater adherence to treatment regimens. This method not only empowers patients but also allows for continuous drug delivery, which is often critical for managing chronic conditions effectively.

Do you have any specific queries or need any customization research on Home Infusion Therapy Market, Enquire Now@

Regional Insights

North America dominated the home infusion therapy market, holding a market share of 42% in 2023. Several factors contribute to this dominance, including a robust healthcare infrastructure and a high prevalence of chronic diseases among the population. According to the U.S. Census Bureau, the number of individuals aged 65 and older is projected to reach 95 million by 2060, driving demand for home healthcare solutions. The Centers for Medicare & Medicaid Services (CMS) have also expanded coverage for home health services, making it more financially viable for patients to opt for home infusion therapy. In 2023, home health expenditures in the U.S. increased by 15%, reaching USD 100 billion, further solidifying North America's leadership in this market. The combination of an aging population, favorable reimbursement policies, and a shift towards patient-centric care positions North America as a key player in the home infusion therapy landscape.

Recent Developments

• In April 2023, CareFusion, currently owned by Becton Dickinson, launched an advanced ultrasound technology to ensure clinicians with perfect IV insertions. Home infusion therapy is expanding with its market because more than 90% of inpatients receive IV therapy.
• In January 2022, ICU Medical, a California-based company with global operations, completed the acquisition of Smith's Medical from Smiths Group Plc to establish a leading infusion therapy company with a combined revenue of USD 2.5 billion. So, Terumo Corporation, a global medical device company, has developed a smartphone device for controlling insulin pumps. It can be used by the patients as a home infusion therapy to control insulin therapy at ease.

Key takeaways:

• The Home Infusion Therapy market is driven by rising demand for home healthcare solutions and technological innovations.
• Subcutaneous infusion is the leading route of administration, favored for its simplicity and patient comfort.
• North America remains the dominant region, supported by a strong healthcare infrastructure and favorable policies.

Buy a Single-User PDF of Home Infusion Therapy Market Analysis & Outlook Report 2024-2032@

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

• Incidence and Prevalence (2023)
• Prescription Trends, (2023), by Region
• Drugs Volume: Device usage volume
• Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients

6. Competitive Landscape

7. Home Infusion Therapy Market Segmentation, by Product

8. Home Infusion Therapy Market Segmentation, by Application

9. Home Infusion Therapy Market Segmentation, by Route of Administration

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

Access Complete Report Details of Home Infusion Therapy Market Outlook 2024-2032@

[For more information or need any customization research mail us at ...]

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

CONTACT: Contact Us: Akash Anand – Head of Business Development & Strategy ... Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

MENAFN23092024004107003653ID1108704635