Home Infusion Therapy Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
Home infusion therapy market drivers include the growing prevalence of chronic diseases as well as the risk of hospital-acquired infections. The COVID-19 outbreak has badly affected patients with other chronic diseases as it is highly infectious. This is likely to shift focus towards adoption of home infusion therapy services over the forthcoming years.
Rising geriatric patient pool along with increasing burden of sedentary lifestyle disorders including diabetes, osteoarthritis and heart diseases may favor home infusion therapy industry forecast. The International Diabetes Federation report (2019) stated that, around 463 million individuals that were suffering from diabetes are estimated to rise to a 700 million in count by 2045.
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Also, U.S. Department of Economic and Social Affairs estimate that 250 million elderly population experience moderate to severe disability. Growing aged population across the globe will fuel the demand for these services and many other healthcare products. Reportedly, global home infusion therapy market size will surpass US$43.7 billion in terms of annual valuation by 2026.
Costs in an infusion center located at a hospital are quite high when compared in cases of site-of-care optimization. The drugs used in a home infusion therapy are same as the hospitals but the price for drugs and administration can be 200% higher. With, site-of-care optimization, the cost differential from moving to home can prove significant. The cost savings can reach between US$2,000 and US$3,000 on a per treatment course basis.
Various types of home infusion therapy include intravenous sets, IV cannulas, needleless connectors and infusion pump. In 2019, IV cannulas segment accounted for a major revenue share and is expected to grow at 11.2% CAGR up to 2026. IV cannulas are witnessing major adoption due to real time monitoring attributes. It aids in real time monitoring of administered medicines, blood collection surrounding internal and external surface of medicine needles.
Home infusion therapy sessions may not be ideal for every patient. However, some patients, depending upon their specific condition and situations, do have the option to receive infused medications at their own houses. Delivering infusion therapy in the home for any medication has been shown to not only be highly cost-effective but also delivering excellent clinical outcomes.
In 2019, chemotherapy segment accounted for US$450 million. The growth can be attributed to growing usage of point-of-care devices and portable pumps to conduct chemotherapy for patients in homecare settings. These devices are proven to deliver the prescribed amount of medicines to the targeted areas efficiently.
Asia Pacific home infusion therapy market size is likely to witness lucrative growth over the coming years on account of favorable initiatives undertaken by the regional government to promote chronic disease awareness supported by rising home healthcare funding. Also, large patient pool suffering from various chronic and infectious disease may supplement business growth. Moreover, increasing spending capacity and presence of large number of baby boomers that will turn older in the coming years will also offer opportunities for the regional industry players.
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Partial Chapter of the Table of Content
Chapter 2. Executive Summary
2.1. Global home infusion therapy industry 360º synopsis, 2015 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Regional trends
Chapter 3. Global Home Infusion Therapy Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry impact forces
3.3.1. Growth drivers
184.108.40.206. Growing geriatric population
220.127.116.11. Advancements in technology
18.104.22.168. Growing hospital-acquired infection
22.214.171.124. Presence of home healthcare facilities
126.96.36.199. Rising prevalence of chronic disease
3.3.2. Industry pitfalls & challenges
188.8.131.52. Dearth of reimbursement
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By application
3.5. COVID-19 impact analysis
3.6. Regulatory Landscape
3.7. Porters analysis
3.8. Competitive landscape, 2019
3.8.1. Competitive matrix analysis, 2019
3.9. PESTEL analysis