Global Home Infusion Therapy Market Overview
The intravenous or subcutaneous injection of medications or biologicals to a patient at home is termed home infusion therapy. The medicine (antivirals, immune globulin), equipment (pump), and supplies (tubing and catheters) are required for home infusion. Oral medication can be replaced by home infusion therapy. Nurses typically educate patients or caregivers on how to self-administer the medicine, educate them on side effects and therapeutic goals, and visit the infusion site regularly to monitor the infusion site and change the dressing. Patients, physicians, hospital discharge planners, health plans, home infusion pharmacies, and, if required, home health organizations must all work together to make the home infusion process a success. Traditionally, this procedure has been utilized in hospitals, and individuals can choose from a variety of home infusion treatments provided by professionals. Infusion therapy is used to treat chronic or serious infections that cannot be cured with antibiotics. Cancers and the divergent pain induced by cancer, dehydration, diarrhea, vomiting, and other complex disorders are examples of such causes. The growing number of patients opting for home treatment solutions is expected to boost the growth of the market over the forecast period.
Market Dynamics and Key Factors of Home Infusion Therapy:
Hospital-Like Care at Home
Patients can receive an innovative and comprehensive set of services with a variety of care alternatives when they choose home infusion services. Home services can help patients to avoid extended hospital stays and high medical fees by providing care in the comfort of the home. Individuals can receive IV infusions in a comfortable and safe atmosphere as part of several infusion therapies. With the guidance of a trustworthy health provider, a patient recovering from surgery or undergoing surgery therapy can access a variety of home care infusion services. Professionals can assist patients with all types of infusions, from the first interaction with the client to providing professional home therapy.
To reduce the strain on the primary healthcare services
The market is expected to grow in response to the growing need to shorten inpatient stays. According to the American Hospital Association, there were approximately 36,241,815 hospital admissions in all US hospitals in 2019. This has prompted the development of ways for administering infusion therapy at home or in other healthcare settings, which is expected to boost the market growth. While hospitals have quickly adopted smart infusion pumps with useful features like EHR connection, drug libraries, and medication safety software, most home infusion providers still use classic infusion pumps. However, due to rising demand, there has been a growing trend for equipment upgrades, particularly in developed countries thus, supporting the development of the home infusion therapy market over the forecast period.
Third-Party service providers and low reimbursement policies
The issue of fragmented care may develop in the home infusion setting if the home infusion provider is a third-party company that is not part of the patient's primary care team. Concerns about the patient's limited access to their care team may also cause issues, as eliminating the requirement for patients to visit the clinic for each infusion reduces their interaction with their provider. Other issues that may develop include the patient's potential limited access to emergency services if a negative reaction or adverse event (AE) occurs during the infusion thus, hampering the growth of the market over the projected timeframe.
Growing Geriatric Population
According to the United Nations, the world's population will grow by one billion people by 2025, with roughly a third of them being 65 or older as life expectancy rises. Middle-class comforts and urbanization are also on the rise, potentially leading to more sedentary lifestyles and chronic illnesses. There is concern that all of this will place a further strain on the global health system's ability to administer and pay for care. As a result, there has been a significant shift in healthcare toward a more patient-centered, community-based approach. Regulations in the healthcare industry have supported the growth of the home infusion therapy market. For instance, healthcare systems in the USA are implementing new guidelines to support home infusion therapies thus, creating a lucrative opportunity for the market players.
By Product, Home Infusion Therapy has been segmented into:
- IV Cannulas
- Infusion Pumps
- Needleless Connectors
- Intravenous Sets
By Infusion Type, Home Infusion Therapy has been segmented into:
- Secondary IV
- IV Push
By Application, Home Infusion Therapy has been segmented into:
- Enteral Nutrition
- Parenteral Nutrition
- Specialty Pharmaceuticals
Regions and Countries Level Analysis:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
- Asia-Pacific (China, India, Japan, Southeast Asia etc.)
- South America (Brazil, Argentina etc.)
- Middle East & Africa (Saudi Arabia, South Africa etc.)
By product type, the infusion pump segment is anticipated to have the highest share of the home infusion therapy market. It is projected to record a 5.4% CAGR and reach USD 18.2 billion by the end of the analysis period. Infusion pumps have numerous benefits over manual fluid administration, including the ability to give fluids in very small quantities and at precisely programmed rates or automatic intervals. They can be utilized to administer nutrients or pharmaceuticals like insulin or other hormones, antibiotics, chemotherapeutic treatments, and pain relievers. Large volume, patient-controlled analgesia (PCA), elastomeric, syringe, enteral, and insulin pumps are among the various types of infusion pumps available.
By infusion type, the continuous segment is estimated to dominate the infusion therapy market. Continuous infusion maintains a constant concentration of microbubbles, lowering the risk of artifacts. If there is a steady-state concentration of contrast, it is also possible to compute myocardial blood flow, as both myocardial blood volume and microbubble velocity can be calculated. Continuous infusion strategies have been found in studies to be the best options for drug administration in cancer patients thus, supporting the growth of the segment.
By application, the anti-infective segment is anticipated to lead the growth of the home infusion therapy market. One of the most regularly prescribed home infusion therapies is anti-infective therapy (antibiotics, antifungals, and antivirals), which can be safely managed at home. Cystic fibrosis, Lyme disease, Osteomyelitis, and other infections that require long-term anti-infective therapy can all be caused by a variety of causes. If not treated properly, each of these clinical disorders can lead to unnecessary hospitalization and/or emergency room visits. These disorders can be treated at home using infusion therapy, which can help avert life-threatening situations thus, boosting the development of the segment.
Players Covered in Home Infusion Therapy market are :
- Option Care Health
- BriovaRx/Diplomat (UnitedHealth Optum)
- Fresenius Kabi
- ICU Medical Inc.
- B. Braun Melsungen AG
- Caesarea Medical Electronics
- Smiths Medical
- Terumo Corporation
- JMS Co. Ltd.
Regional Analysis of Home Infusion Therapy Market:
The North American region is anticipated to dominate the home infusion therapy market during the forecasted timeframe. The growing prevalence of chronic diseases and the increasing burden on primary healthcare infrastructure are the main factors supporting the growth of the market. Multiple sclerosis, rheumatoid arthritis, hemophilia, immunological deficiencies, and neurological disorders are common in this region. According to a recent NHIA study, home infusion and specialty providers in the United States catered to more than 3 million patients in 2019, up 300 percent from the last industry study in 2008. According to NHIA, home and specialty infusion will be a $19 billion business by 2020, with over 900 providers serving 3.2 million patients. This number is expected to grow in the projected timeframe thus strengthening the development of the home infusion therapy market.
The European region is estimated to have the second-highest share of the home infusion therapy market in the forecasted timeframe. In Europe, demographic, epidemiological, socioeconomic, and cultural developments are altering traditional patient care patterns. Home infusion therapies are becoming more popular as a result of changing demographics. Shortly, the population structure of European Union (EU) countries will alter dramatically. The proportion of elderly and very elderly people is expected to increase. According to Statista, by 2025 people between 40-and 44 will account for the largest age group (52.7 million). The rising geriatric population is the main factor propelling the growth of the home infusion therapy market in this region.
The home infusion therapy market in the Asia-Pacific region is anticipated to develop at the highest CAGR attributed to the high density of the population. China, India, Japan, Indonesia, Pakistan, South Korea, and Vietnam are highly populated countries. To reduce the strain on primary healthcare facilities, hospitals are promoting the usage of home infusion therapies for patients that can be treated at home. Chronic diseases such as rheumatoid arthritis, cancer, mental disorders, and cardiovascular are common in this region. These diseases in their early stages can be treated at home under the proper guidance of a healthcare professional. The growing prevalence of chronic diseases coupled with a rise in awareness about the benefits of home infusion therapies is expected to boost the growth of the market during the forecast period.
Recent Industry Developments in Home Infusion Therapy Market:
- In December 2021, the acquisition of Hillrom by Baxter International Inc. has been completed. This acquisition will aid the company in expanding its geographic reach and integrating medical device technologies to improve patient care, reduce costs, and streamline operations.
- In November 2021, Eitan Medical has been appointed to the NHIA's Future of Infusion Advisory Council (FIAC). The FIAC is a strategic advisory organization made up of manufacturers and service providers with a presence in the home and alternate site infusion industry.
- In March 2020, Lincare, a subsidiary of Linde plc, has announced the acquisition of KabaFusion's home infusion assets. KabaFusion's position as the leading clinician-led home infusion company in the United States is strengthened by this strategic alliance.
COVID-19 Impact on Home Infusion Therapy Market:
COVID-19 disrupted daily people's lives all around the world. Many patients were hospitalized as a result of COVID-19, and many of them needed to be put on ventilators. Patients needed to be in areas where they wouldn't be able to infect other patients or health care personnel treating them, which required a lot of space in hospitals. Many companies began partnering with health systems to move patients from the hospital to in-home care as rapidly as possible to assist hospitals with the rising demand for space and beds. Many additional recommendations were introduced to general operations to continue providing patient care while preserving the safety of the patient and nurse/provider. To protect patients and employees, the National Home Infusion Association (NHIA) implemented numerous critical suggestions. Since the outbreak of COVID-19, the use of in-home care and home infusions has increased to free up space in hospitals and ensure patient safety. After the pandemic, it is projected that home infusions will continue to be needed and will become the new standard for patients thus, supporting the development of the home infusion therapy market over the forecasted timeframe.
Frequently Asked Questions :
1. What would be forecast period in the market research report?
The forecast period in the market research report is 2022-2028.
2. Who are the key players in Home Infusion Therapy market?
The key players mentioned are 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. .
3. What are the segments of Home Infusion Therapy market?
The Home Infusion Therapy market is segmented into Product, Application and region. By region, it is analysed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain etc.), Asia-Pacific (China; India; Japan; Southeast Asia etc.), South America (Brazil; Argentina etc.), Middle East & Africa (Saudi Arabia; South Africa etc.).
4. What is home infusion therapy?
The intravenous or subcutaneous injection of medications or biologicals to a patient at home is termed home infusion therapy.
5. What is the primary driver for growth of the Home Infusion Therapy market?
The market is expected to grow in response to the growing need to shorten inpatient stays. According to the American Hospital Association, there were approximately 36,241,815 hospital admissions in all US hospitals in 2019. This has prompted the development of ways for administering infusion therapy at home or in other healthcare settings, which is expected to boost the market growth.