Newly-released Home Infusion Therapy industry analysis report by Fact.MR shows that global sales of Home Infusion Therapy in 2021 was held at US$ 31 Bn. With 8.6%, the projected market growth during 2022 – 2032 is expected to be significantly higher than the historical growth.
Receiving care at home rather than a healthcare facility or other care places has become a cost-effective option for patients. It has reduced hospital costs, which plays a vital role in boosting the demand for this therapy across the globe. Various government programs are being implemented to shift patients towards home care and reduce the overall hospitalization and treatment costs. Additionally, the rise in preference for homecare amid patients, particularly for infusion treatment, and the growing developments in infusion healing devices designed for home usage are some key factors anticipated to fuel the market.
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One of the major factors probable to hinder market growth is the absence of reimbursement policies in many developing nations. The out-of-pocket expenditure on healthcare in emerging nations such as India and China is higher compared to other nations with an established reimbursement structure. The circumstance is further compounded by the lack of reimbursement policies for home care settings in these countries.
Key Points Covered in Home Infusion Therapy Industry Survey:
- Market Estimates and Forecasts (2017-2032)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Home Infusion Therapy and How to Navigate
- Recommendation on Key Winning Strategies
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. are some of the key players in the global home infusion therapy market. One of the key factors boosting industry rivalry among market rivals is the rapid use of contemporary healthcare technologies for improved healthcare services. To retain market share and broaden their product range, significant players commonly adopt techniques such as mergers, acquisitions, and new product releases.
Some of the recent developments of key Home Infusion Therapy providers are as follows:
- In May 2021, Smiths Medical and Ivenix, Inc. announced a partnership to deliver a comprehensive range of infusion management solutions to the U.S. market. The goal of this partnership is to enhance infusion administration and patient safety.
- In March 2021, PromptCare purchased NBN Infusions, Inc, a home infusion and respiratory treatment service provider located in New Jersey. NBN Infusions, Inc. specialises in providing infusion treatment to critically ill patients. PromptCare will gain market share in the Northeastern United States as a result of this transaction.
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Market Segments Covered in Home Infusion Therapy Industry Analysis
· By Product Type :
- Infusion Pumps
- Other Infusion Pumps
- Intravenous Sets
- IV Cannulas
- Needless Connectors
- Infusion Pumps
· By Application Type :
- Hydration Therapy
- Enteral Nutrition
- Parenteral Nutrition
- Specialty Pharmaceuticals
- Other Applications
· By Region :
- North America
- Latin America
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