Home Infusion Therapy Market To Witness Massive Growth
Home Infusion Therapy Industry Overview
In 2023, the global home infusion therapy market reached a value of USD 35.96 billion, with expectations to grow at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2030. Home infusion therapy involves administering medications, fluids, or therapeutic treatments intravenously (IV) directly into a patient’s bloodstream in their home environment. This approach offers the comfort and convenience of receiving necessary medical treatments without the need for hospitalization, enhancing patient satisfaction and accessibility to care.
Key factors driving the growth of the market include a rising elderly population with reduced mobility, a growing preference for home-based care, and rapid technological advancements in infusion solutions. Infusion therapy, encompassing intravenous (IV) therapy and IV hydration, is critical in treating various conditions—such as immune deficiencies, cancer, and congestive heart failure—that cannot be managed with oral medications alone. The demand for home infusion therapy is increasing, primarily because of the need for long-term treatment options that offer a cost-effective alternative to hospital care. By providing essential therapies like IV hydration in a home setting, patients gain access to effective, personalized medical solutions that align with their comfort and lifestyle preferences.
The home infusion market witnessed a notable uptick during the COVID-19 pandemic, as home-based infusion became essential amid overwhelmed healthcare facilities. Despite challenges posed by regional and nationwide lockdowns that disrupted operations and supply chains, the market saw considerable growth. In October 2020, Medtech Dive reported Baxter’s third-quarter sales reaching USD 2.97 billion—a 4% increase fueled by heightened demand for COVID-related medical products. By the third quarter of 2021, Baxter’s operational sales had further increased by 6% to USD 3.2 billion compared to the previous year, indicating a strong post-pandemic recovery trend.
The appeal of home infusion therapy lies not only in convenience and cost savings but also in improved patient outcomes. With a growing number of baby boomers facing limited mobility from conditions like osteoarthritis, diabetes, and paralysis, demand for home infusion therapy is expected to increase. Reducing inpatient hospital stays has become a priority, supporting the growth of the market. Notably, continuous subcutaneous (SC) apomorphine infusion has emerged as a highly effective treatment for Parkinson’s disease (PD). Diverse drug formulations are now available for managing PD through subcutaneous delivery, and the increasing prevalence of PD is driving demand for SC infusion therapy, offering promising growth potential for the home infusion therapy market.
Gather more insights about the market drivers, restrains and growth of the Home Infusion Therapy Market
Regional Insights:
North America's Market Dominance in 2023:
- North America led the global home infusion therapy market in 2023, with a revenue share exceeding 56.22%.
- This strong market position is anticipated to persist throughout the forecast period, driven by ongoing research and development (R&D) initiatives in the region.
- The increasing adoption of advanced infusion pump technology plays a significant role in strengthening North America's market share.
- Growing demand for long-term infusion therapy, especially among patients with chronic and complex conditions, is propelling market expansion.
- The shift from acute care to home-based care, motivated by cost savings and enhanced patient mobility, further drives market growth.
- Development of alternative healthcare environments and home infusion services supports this shift, meeting patients’ needs more affordably and conveniently.
Rapid Growth Expected in the Asia Pacific:
- The Asia Pacific region is projected to record the highest compound annual growth rate (CAGR) over the forecast period, indicating strong market potential.
- Increased patient awareness about the advantages of home infusion therapy over traditional in-hospital treatments contributes to this trend.
- The region is experiencing a notable rise in diabetes cases, further boosting demand for home-based infusion services as part of chronic disease management.
- The aging population, coupled with a higher incidence of chronic illnesses in the Asia Pacific, is expected to drive market expansion.
- In India alone, approximately 75 million individuals over 60 years suffer from chronic diseases, as reported by the Times of India, suggesting a growing need for home care solutions.
- This rising demand for home care services in Asia Pacific countries supports market growth, positioning the region for accelerated adoption of home infusion therapy in the coming years.
Browse through Grand View Research's Medical Devices Industry Research Reports.
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Key Home Infusion Therapy Company Insights
Some of the key players operating in the market include Baxter, BD, Smiths Medical, Terumo Corporation, ICU Medical, etc
- Baxter International Inc., commonly known as Baxter, is a global healthcare company that specializes in providing a wide range of medical products, therapies, and technologies. With a rich history dating back to the 1930s, Baxter has evolved into a leading player in the healthcare industry. The company develops innovative solutions for critical medical needs, including renal care, medication delivery, pharmaceuticals, and various therapeutic areas.
- Becton, Dickinson and Company (BD) is a global medical technology company. BD specializes in developing and manufacturing medical devices, laboratory equipment, and diagnostic products aimed at advancing the diagnosis and treatment of various medical conditions. With a commitment to improving healthcare outcomes, BD focuses on delivering solutions in areas such as medication management, infection prevention, diagnostics, and biosciences.
Key Home Infusion Therapy Companies:
- CVS/Coram
- Option Care Health
- BriovaRx/Diplomat (UnitedHealth Optum)
- PharMerica
- Fresenius Kabi
- ICU Medical, Inc.
- Braun Melsungen AG
- Baxter
- BD
- Caesarea Medical Electronics
- Smiths Medical
- Terumo Corporation
- JMS Co. Ltd.
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