According to Coherent Market Insights, the global home infusion therapy market size is estimated to be valued at USD 24.51 billion in 2024 and is expected to surpass USD 38.4 billion by 2031, growing at a CAGR of 6.6% from 2024 to 2031. Increasing elderly population drives the market growth globally. As per projection by WHO in 2021, there will be 2.1 billion elderly persons by 2050. Many of them require regular follow-ups and reliance on long term drugs which creates a need for healthcare in the home environment. It replaces costly and uncomfortable hospital admission with ease of treatment at home. Treatment with portable infusion instruments has brought improvement in the treatment course making it easier and more efficient. Many doctors have started to recommend this for the management of chronic diseases such as diabetes and cancer. However, excessive regulations and slow approval procedures are factors deterring the growth of the market.
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Market Trends:
One of the trends that considerably influence the growth of home infusion therapy market is the growing preference in patients towards home healthcare. In 2022, a report by Health Affairs, state that almost every 70% of the people would prefer treatment at home when dealing with considerable illnesses such as diabetes that will require long term care.
Sky-high prices for healthcare have made consultants suggest a migration away from the hospital and the patient room and toward the home and outpatient settings. Based on the report by the American Hospital Association in 2020, about 40% of the hospitals with ten or more beds reported an acute drop in inpatient admissions driven by high-cost healthcare charges and the growing popularity of outpatient billing.
Home Infusion Therapy Market Report Coverage
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Report Coverage |
Details |
|
Market Revenue in 2024 |
$24.51 billion |
|
Estimated Value by 2031 |
$38.4 billion |
|
Growth Rate |
Poised to grow at a CAGR of 6.6% |
|
Historical Data |
2019–2023 |
|
Forecast Period |
2024–2031 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Product Type, By Application |
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Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Growth Drivers |
• Growing prevalence of chronic diseases • Advancements in home infusion technologies |
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Restraints & Challenges |
• Risk of infections associated with infusion therapy • Stringent regulatory framework and product approval process |
The other developments in the market include improvement in technology. There has also been a gradual increase in technology infusion therapy. For example, in 2022 Baxter International launched the Sigma Spectrum Infusion System that has better drug library functionalities. This technology sharply improves security and effectiveness of home infusions therapy by assisting clinicians to remotely program and monitor infusions.
Market Opportunity:
With the increase in usage of infusion pumps around the world, the home infusion therapy market is experiencing much needed growth. They provide easy drug delivery without the need for hospitalization. Moreover, the latest designs of infusion pumps are portable, compact, and easy to handle.
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An additional potential prospect is the capability to perform chemotherapy in one's home. It makes it easy to perform treatment in a relaxing surrounding. As projected by American Cancer Society in 2021, 1.9 million new cancer cases will be registered in the U.S. alone, and this figure is on the rise. The increase in cancer cases has created a substantial increase in demand for chemotherapeutic agents that are infusible or intravenous and have a prolonged use.
Key Market Takeaways:
The home infusion therapy market is expected to exhibit a CAGR of 6.6% in the forecast period, as a result of increasing geriatric population and chronic diseases which need long term care in the home settings.
In respect to the product type, infusion pumps are forecasted to be the market leader with 40.2% market share in 2024.
On the basis of application, the chemotherapy segment is expected to have the largest market share of 30.5% in 2024. This is owing to increase in incidences of cancer and increased change to home-based treatment.
Based on geography, North America is forecasted to be the dominant region for the market because of its high level and advanced utilization of healthcare systems and increasing need for home healthcare services.
Competitor Insights
- Baxter International Inc.
- B Braun Melsungen AG
- Fresenius Kabi AG
- Smiths Medical
- CareCentrix Inc.
- Option Care Health Inc.
- CVS Health
- United Health Group (Optum)
- Diplomat Pharmacy
- Healix Inc.
- PromptCare Home Infusion
Recent Developments:
In January 2023, Baxter International Inc. launched a new line of infusion pumps designed for home use, enhancing patient comfort and safety during at-home treatments.
In February 2023, Fresenius Kabi AG received the U.S. FDA approval for its new portable infusion pump, which allows for more flexible administration of medications in home settings.
In March 2023, Smiths Medical introduced an upgraded version of its ambulatory infusion pump, featuring improved battery life and user-friendly interfaces specifically for home healthcare providers.
In April 2023, CareCentrix Inc. expanded its home infusion services to include specialized care for patients undergoing chemotherapy, responding to the growing demand for at-home cancer treatment options.
In June 2023, United Health Group (Optum) launched a new initiative to provide comprehensive home infusion therapy solutions, focusing on managing chronic conditions more effectively at home.
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