Dublin, June 21, 2024 (GLOBE NEWSWIRE) -- The "United States Home Infusion Therapy Market Report by Application, Product, States and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
United States Home Infusion Therapy Market size is expected to be approximately US$ 19.06 Billion by 2032 compared to US$ 9.50 Billion in 2023. The publisher states that the industry is predicted to increase at a CAGR of 8.04% from 2024 to 2032.
Using a needle or catheter to administer medication outside of a hospital or other medical facility is known as home infusion. Pharmacists, nurses, and other medical personnel with specialized expertise in administering infusion drugs provide support to individuals requiring infusion therapy. Medication administered at home or at a location other than an institution cuts down on the amount of time patients must spend away from regular activities like job, school, and hobbies in order to complete therapy.
For a variety of treatments and illness conditions, both acute and chronic, home infusion is a secure and efficient substitute for hospitalization. Many patients find that getting their treatment in an infusion suite or at home is more convenient than staying in a hospital. As evidence of enhanced clinical results and quality-of-life benefits for home infusion patients mounts, the number of treatments available at home keeps expanding.
United States Home Infusion Therapy Market Growth Opportunities
The rising incidence of conditions including diabetes, cancer, chronic pain, and gastrointestinal illnesses is also anticipated to drive the expansion of the United States home infusion therapy market.
According to the CDC, there are 38.4 million Americans who have diabetes, or 11.6% of the overall population.
The National Institutes of Health (NIH) projects that there will be 609,820 cancer deaths and 1,958,310 new cancer cases in the US in 2023.
Chronic pain is quite persistent. Nearly two-thirds (61.4%) of individuals who reported having it in 2019 still did so a year later. The frequency of new instances of chronic pain was high, at 52.4 cases per 1,000 people annually. The rate at which chronic pain progressed to HICP was 190 cases/1,000 per year, and 361 cases/1,000 per year of those who had first reported HICP were still experiencing symptoms a year later, according to the NIH.
Home infusion therapy is more affordable than hospital treatment because it saves patients money by avoiding hospital stays. Due to this, there is a greater need for at-home therapy, which fuels United States home infusion therapy market expansion.
According to a National Home Infusion Foundation article, a cost analysis of a home infusion anti-infective program revealed that, in comparison to hospital costs, the savings per home infusion patient was $40,460. The price of anti-infective infusions for home and inpatient use and found that the former cost $122 per day, while the latter cost $798. When comparing the costs of inotropic therapy for infusion at home versus inpatient settings, it was found that home infusions saved patients between $71,300 and $120,500.
According to a study published in the Journal of General Internal Medicine, patients who receive care at home incur 52% less in medical expenses than those who stay overnight in a hospital.
The home US infusion therapy market is being driven by technological advancements that are essential in simplifying the administration of complex therapies at home. Healthcare professionals can closely monitor a patient's progress without making frequent in-person visits due to portable infusion pumps and remote monitoring capabilities.
United States home infusion therapy market may be dominated by the anti-infective category
Intravenous antibiotic and anti-infective homecare administration is a quickly expanding healthcare system service. Antibiotics, antivirals, and antifungals are examples of anti-infective treatments. Intravenous home anti-infective therapy (HIVAT) is now a well-recognized treatment modality. Economic cost-benefit assessments offer a wealth of facts regarding cost effectiveness from a societal perspective.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 215 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $9.5 Billion |
| Forecasted Market Value (USD) by 2032 | $19.06 Billion |
| Compound Annual Growth Rate | 8.0% |
| Regions Covered | United States |
Company Analysis: Overview, Recent Developments, Revenue
- Baxter International Inc.
- Becton Dickinson and Company
- Eli Lilly & Company
- Fresenius SE & Co. KGaA
- ICU Medical Inc.
- Option Care Health Inc.
- Terumo Corporation
By Application - Market is broken up into 8 viewpoints:
- Anti-Infective
- Endocrinology
- Hydration Therapy
- Chemotherapy
- Enteral Nutrition
- Parenteral Nutrition
- Specialty Pharmaceuticals
- Others
By Product - Market is broken up into 4 viewpoints:
- Infusion Pumps
- Intravenous Sets
- IV Cannulas
- Needleless Connectors
By States - Market is broken up into 29 viewpoints:
- California
- Texas
- New York
- Florida
- Illinois
- Pennsylvania
- Ohio
- Georgia
- New Jersey
- Washington
- North Carolina
- Massachusetts
- Virginia
- Michigan
- Maryland
- Colorado
- Tennessee
- Indiana
- Arizona
- Minnesota
- Wisconsin
- Missouri
- Connecticut
- South Carolina
- Oregon
- Louisiana
- Alabama
- Kentucky
- Rest of United States
For more information about this report visit https://www.researchandmarkets.com/r/xeamc7
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