Pune, India, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Home infusion therapy involves the intravenous or subcutaneous administration of drugs or biologicals to an individual at home. The components needed to perform home infusion include the drug (antivirals, immune globulin), equipment (a pump), and supplies (tubing and catheters). The home infusion process typically requires coordination among multiple entities, including patients, physicians, hospital discharge planners, health plans, home infusion pharmacies, and, if applicable, home health agencies.
According to our latest study on “Home Infusion Therapy Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, Route of Administration, and Geography,” the home infusion therapy market size was $21.76 billion in 2022 and is expected to reach $35.69 billion by 2028; it is estimated to record a CAGR of 8.6% from 2022 to 2028. The increasing incidences of chronic disorders coupled with the rising geriatric population, and the reducing duration of hospital stays and the surging cost of care fuel the overall home infusion therapy market growth. Additionally, the increasing healthcare potential of developing economies and the rising prevalence of healthcare-associated infections are expected to provide lucrative opportunities to the home infusion therapy market during the forecast period.
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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 sub-segmented 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 nutrition, specialty pharmaceuticals, hydration therapy, chemotherapy, and others. The anti-infective segment held the largest share of the market in 2022. The endocrinology segment is expected to grow at the highest CAGR. 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.
Global 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 the top home infusion 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 January 2023, Eitan Medical announced the opening of its new manufacturing facility at the company’s headquarters. On-site manufacturing will support Eitan Medical’s production scale of its Pharmaceutical Solutions division. The facility will manufacture the Sorrel wearable drug delivery platform across multiple device configurations, including Sorrel vial- and cartridge-based wearable injectors, pre-filled and pre-loaded in primary containers up to 50ml, as well as small volume on-body injectors.
In May 2022, Fresenius Kabi completed the acquisition of Ivenix, a manufacturer of infusion systems. Fresenius Kabi now offers health care professionals in the United States 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 approximately $2.5 billion.
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In June 2021, Micrel Medical Devices announced the expansion of their global presence with the announcement of a new distribution partnership with Baxter in Australia and New Zealand for the Rythmic PN+, ambulatory Infusion pump for Home Parenteral Nutrition.
In June 2021, Micrel Medical and Baxter Healthcare (Baxter) announced an agreement for the distribution of the Micrel Mini Rythmic PN+ infusion pump for Parenteral Nutrition (PN). Micrel Mini Rythmic PN+ is an ambulatory infusion pump supporting patients with Hospital-in-the-Home Parenteral Nutrition. As part of the agreement, Baxter Healthcare will be the sole distributor of the Micrel Mini Rythmic PN+ infusion pump and its accessories across ANZ.
Go through further research published by The Insight Partners:
Home and Alternate Site Infusion Therapy Market - Global Analysis and Forecast to 2030
Home Healthcare Market - Global Analysis and Forecast to 2028
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