New York, Feb. 21, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Home Infusion Therapy Market Size, Share, Growth, Trends and Global Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Infusion Pumps, Intravenous Sets, IV Cannulas, and Needleless Connectors), Application (Anti-Infective, Endocrinology, Enteral Nutrition, Hydration Therapy, Chemotherapy, Specialty Pharmaceuticals, and Others), and Route of Administration (Intramuscular, Subcutaneously, and Epidural)”, the global home infusion therapy market growth is driven by increasing incidences of chronic disorders coupled with the rising geriatric population, and the reducing duration of hospital stays and the surging cost of care.
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Global Home Infusion Therapy Market – Report Scope:
| Market Size Value in | USD 21.76 Billion in 2022 |
| Market Size Value by | USD 35.69 Billion by 2028 |
| Growth rate | CAGR of 8.6% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 221 |
| No. of Tables | 111 |
| No. of Charts & Figures | 82 |
| Historical data available | Yes |
| Segments covered | Product, Application, and Route of Administration |
Home Infusion Therapy Market Analysis: Competitive Landscape and Key Developments
B. Braun Melsungen AG, Micrel Medical Devices SA, Baxter International Inc, Nipro Corp, Becton Dickinson and Co, Fresenius Kabi AG, ICU Medical Inc, JMS Co Ltd, Eitan Medical Ltd, and Terumo Corp are a few of the key companies operating in the home infusion therapy market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
In November 2022, Fresenius Kabi inaugurated its 4th MedTech manufacturing facility at Parque Industrial Itabo (PIISA) in Haina, Dominican Republic. This new facility will add around 12,000 m² to the Fresenius Kabi MedTech footprint in Haina and is projected to add 700 to the current 4,600 employees. The state-of-the-art manufacturing facility will be equipped with automated assembly lines, installations, clean rooms, and laboratories needed for the manufacturing and development of disposables such as sets for infusion pumps and plasma collection.
In August 2022, Baxter International Inc announced U.S. Food and Drug Administration (FDA) 510(k) clearance for its new Novum IQ syringe infusion pump (SYR) with Dose IQ Safety Software, representing Baxter’s latest developments for infusion therapy. The Novum IQ SYR has the capability to fully integrate with hospital electronic medical records (EMRs) through Baxter’s IQ Enterprise Connectivity Suite.
In May 2022, Fresenius Kabi completed the acquisition of Ivenix, a manufacturer of infusion systems. Fresenius Kabi now offers health care professionals in the US a broad and expanding portfolio of advanced infusion pumps and solutions to meet needs across the continuum of care.
In January 2022, ICU Medical Inc announced that it has completed its acquisition of Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical’s existing businesses, the combined companies create a leading infusion therapy company with estimated pro forma combined revenues of ~$2.5 billion.
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Increasing Healthcare Potential of Developing Economies and Rising Prevalence of Healthcare-Associated Infections Provides Lucrative Opportunities for Global Home Infusion Therapy Market Growth:
Developing countries report a high prevalence of chronic diseases due to significant shifts in people’s lifestyles. Leading pharmaceutical companies have been focusing on increasing their reach across emerging markets by expanding their distribution networks and augmented manufacturing capabilities. Developing economies such as Brazil, India, China, Mexico, and South Africa offer potential growth opportunities to infusion therapy device manufacturers. This can be attributed to the large patient population, high chronic disease prevalence, and improved healthcare infrastructure. Moreover, as markets in the US and Europe are approaching maturity, most players have redirected their focus to emerging markets.
Additionally, patients are prone to hospital-acquired infections or healthcare-associated infections (HAIs) while receiving services in hospitals or other healthcare facilities. According to the Centers for Disease Control and Prevention (CDC), HAIs account for ~1.7 million infection cases and 99,000 deaths annually in American hospitals. Therefore, due to high HAIs and other risks, patient may require treatment and therapies in the homecare settings. Thus, the abovementioned factors are expected to provide lucrative opportunities for the home infusion therapy market in the coming years.
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The US holds a significant share of the home infusion therapy market. The requirement for home and specialty infusion therapy has increased across the country due to the high prevalence of infections, gastrointestinal diseases and disorders, multiple sclerosis, rheumatoid arthritis, cancer, hemophilia, dehydration, congestive heart failure, immune deficiencies, and neurological disorders. According to a study by National Home Infusion Association (NHIA), in 2019, home infusion and alternate site providers catered to more than 3 million patients in the US, representing a 300% increase since the last industry study in 2008. Furthermore, in 2020, NHIA estimated that home and specialty infusion comprises over 900 providers serving 3.2 million patients annually in the country. Additionally, the presence of leading players, such as Baxter International Inc, Becton Dickinson and Co, and ICU Medical Inc, operating in the home infusion therapy market in the US and their role in product enhancement and market expansion are likely to favor the home infusion therapy market growth during the forecast period.
Global Home Infusion Therapy Market: Segmental Overview
Based on product, the home infusion therapy market is segmented into infusion pumps, intravenous sets, IV cannulas, and needleless connectors. In 2022, the infusion pumps segment accounted for the largest market share. Also, the same segment is anticipated to register the highest CAGR during the forecast period as infusion pumps are widely used to give nutrition and administer medications to patients. The market for the infusion pumps segment is subsegmented into insulin pumps, elastomeric pumps, and syringe pumps. In 2022, the insulin pumps segment accounted for the largest market share. Based on application, the home infusion therapy market is segmented into anti-infective, endocrinology, enteral, specialty pharmaceuticals, hydration therapy, chemotherapy, and others. In 2022, the anti-infective segment held the largest share of the market. In contrast, the endocrinology segment is expected to register the highest CAGR from 2022 to 2028. Based on route of administration, the home infusion therapy market is segmented into intramuscular, subcutaneously, and epidural. In 2022, the intramuscular segment held the largest share of the home infusion therapy market, and it is also expected to register the highest CAGR from 2022 to 2028.
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Impact of COVID-19 Pandemic on Global Home Infusion Therapy Market Growth:
The rising number of COVID-19 patients led to an overall positively impacted the home infusion therapy market. During the COVID-19 pandemic, home infusion providers were encouraged to participate in NHIA’s COVID-19 Home Infusion Therapy Program (C-HIT) by offering a home infusion of COVID-19 monoclonal antibodies. In 2021, the FDA authorized an Emergency Use Authorization (EUA) for monoclonal antibody IV therapy for COVID-19 patients. Monoclonal antibody therapy is directed to COVID-19 patients with mild to moderate symptoms. Intravenous (IV) therapy delivers medicines directly into the patient’s bloodstream. Monoclonal antibodies block viral attachment and entry into human cells to neutralize the virus. Additionally, IV vitamin drips were administered to COVID-19 patients for recovery. Thus, a significant number of FDA product approvals for home infusion therapy and IV drips for COVID-19 patients boosted the growth of the home infusion therapy market during the COVID-19 crisis.
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