Pune, India, May 23, 2023 (GLOBE NEWSWIRE) -- The U.S. home infusion therapy market size was valued at USD 17.26 billion in 2022. The market is projected to expand from USD 18.82 billion in 2023 to USD 33.20 billion by 2030, exhibiting a CAGR of 8.4% during the forecast period.
Home infusion therapy refers to the administration of medicines through a subcutaneous or intravenous route to an individual in the comfort of their home. It has been proven to be an effective and safe alternative to patient care at hospitals. The high cost of hospital stays, growing remote patient monitoring reimbursement, and a growing number of infusion drugs available are the factors contributing to market augmentation. This information is provided by Fortune Business Insights, in its report titled, “U.S. Home Infusion Therapy Market, 2023-2030.”
Key Industry Development:
June 2021 - Infusystem Holdings Inc. signed a joint agreement with Bio Compression Systems. Under the agreement, Infusystem will also offer pneumatic compression devices with non-calibrated and calibrated gradient pressure, garments and certified technicians for proper fitting of the compression system.
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Key Takeaways
- The idea of in-home infusion therapy has gained popularity in many therapeutic fields, including oncology, and has been a major driver of the growth of the U.S. home infusion therapy business.
- According to data from the Centres for Disease Control and Prevention (CDC), 70% of people getting home care are 65 years of age or older.
- Over the next 15 years, Medicare beneficiaries are expected to increase by more than 50%, from 54 million in 2015 to over 80 million in 2030.
- The administration costs of a U.S.-based corporation are 62% and 87% cheaper than those of a medical office and an outpatient hospital, respectively.
Discover the Leading Players Featured in the Report:
Companies leading the global US Home Infusion Therapy Market are Option Care Health Inc. (U.S.), Optum Inc. (U.S.), CareCentrix Inc. (U.S.), CVS Health (U.S.), KabaFusion (U.S.), Promptcare Respiratory (U.S.), Baxter (U.S.), InfuSystem Holdings, Inc. (U.S.), Moog Inc. (U.S.)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 8.4% |
| 2030 Value Projection | USD 33.20 Billion |
| Base Year | 2022 |
| US Home Infusion Therapy Market Size in 2023 | USD 18.82 billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 80 |
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Drivers and Restraints:
Growing Ageing Population and Rising Medicare Enrollment to Aid Market Expansion
The growing ageing population in the U.S. along with evolving healthcare sector has moved patient care from hotels to homes. For example, according to the U.S. Census Bureau’s Population Projections, the number of U.S. individuals aged between 65 & above is slated to rise from 52 million in 2018 to 95 million by 2060. This age group is expected to hold a share of 23% in 2060. Such demographic trends are likely to propel market growth over the analysis period.
Additionally, according to data provided by the Medicare Payment Advisory Commission, Medicare enrollment is projected to increase 50% in the next 15 years, reaching approximately 80 million in 2030 from 54 million beneficiaries in 2015. In 2022, more than 28 million individuals were enrolled in a Medicare Advantage plan. Moreover, the launch of mobile and portable devices for patients in homecare settings, along with the availability of rental and flexible payment plans to cater to the increasing shift of patients from hospitals to home infusion therapy options will drive market proliferation in the upcoming years.
On the other hand, safety concerns associated with administering therapies at home in the absence of a physician, and the potential risk of adverse effects during infusion will hinder U.S. home infusion therapy market growth.
Segmentation:
Drugs Segment to Lead Stoked by Rising Regulatory Approvals of Drugs
Based on product, the market is divided into devices, drugs, and services. Among these, the drugs segment dominated the market in 2022 and is anticipated to grow significantly over the forecast timeframe. The high prevalence of chronic diseases, the growing number of regulatory approvals for products, and the high risk of infection in hospitals are the factors aiding segment growth. For example, in June 2020, the U.S. FDA approved Phesgo to treat patients with HER2-positive breast cancer in combination with chemotherapy. This drug can be administered at home by a qualified healthcare professional only.
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Enteral Nutrition Segment to Dominate Due to Rising Incidences of Gastrointestinal Diseases
As per indication, the U.S. market is split into enteral nutrition, anti-infective, chemotherapy, hydration therapy, total parenteral nutrition, immunoglobulins, and others. Among these, the enteral nutrition segment held the largest U.S. home infusion therapy market share in 2022 backed by the growing number of patients suffering from gastrointestinal diseases and diabetes needing enteral feeding. For example, as per a research article published by NCBI in July 2020, the popularity of home enteral nutrition (HEN) is rising in the U.S.
Report Coverage:
The report includes:
- Drivers, restraints, opportunities, and threats affecting market dynamics
- COVID-19 impact analysis
- Latest developments by key players such as mergers, acquisitions, partnerships, and collaborations
- Statistical data such as market share, growth rate, and valuation
- List of key players shaping market dynamics
Competitive Landscape:
Launch of Advanced Offerings by Industry Leaders to Aid Market Augmentation
Leading companies often make strategic developments such as partnerships, mergers and acquisitions, and collaborations to generate higher revenues, enlarge profit margins, and strengthen market positioning. For example, in February 2020, Avoset launched AvosetGO, an infusion pump device with embedded touch screens which can be connected to and watched over via smart devices.
FAQ’s
How big is the US Home Infusion Therapy Market?
The US Home Infusion Therapy Market size was USD 18.82 billion in 2023.
How fast is the US Home Infusion Therapy Market growing?
The US Home Infusion Therapy Market will exhibit a CAGR of 8.4% during the forecast period, 2023-2030.
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