Dublin, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The "Global Home Infusion Therapy Market Forecast Report By Product, Application, Countries and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The home infusion therapy market is anticipated to reach US$ 72.84 billion by 2032 from US$ 42.70 billion in 2023, growing at a CAGR of 6.12% between 2024 and 2032
The prominent players in the field are engaged in manufacturing and supplying of these products and are known for their inventions and solutions in the creation of Home Infusion Therapy industry.
Home Infusion Therapy Outlooks
The procedure of giving medications and nutrients directly to the veins at home is known as home infusion therapy. It deals with infections, lack of intake of fluids, persistent diseases, control of pains, and nutrient deficiencies. The conventional treatments for it include, antibiotics, antivirals, chemotherapy, narcotics for pain, and intravenous feeding.
They include those who require long-term treatment as well as patients who have challenges with mobility all through the course of their treatment. It enables them to be taken care of not through recurrent hospital admittance, which may be uncomfortable for the patients, but comprehensively instead. It also safeguards patients from contracting other diseases while transpiring in a hospital and lowers the probability of being admitted to a hospital.
Nurses especially and pharmacists are involved in the coordination of medication management in order to determine whether the treatment is effective in managing the patient as well as in minimizing the occurrence of adverse effects. In this line of progression, health care delivery embrace home infusion more as a mode of coming along with complex conditions and improve people's overall quality of life by having their therapy in comfort of their homes instead of the conventional clinic settings.
Driving forces for home infusion therapy
Aging Population: The increasing geriatric population is the main reason for the home infusion therapy products globally. Patients come with chronic diseases such as diabetes, heart disease, and cancer and hence they will continuously need intravenous therapies regardless of their age. Home infusion therapy proves efficient and cheap in the treatment of the indicated conditions and helps patients of the older age group to have a better quality of life since they do not have to visit the hospital frequently. This is expected to increase for patients to opt for home-based care to treat their health conditions with efficiency and comfort.
Technological Advancements: Home care infusion therapies are very common today because of the development of medical technologies that has enhanced the application of infusions at home. Modern infusion pumps are mobile and have a very intuitive interface; some of them have such options as a distant monitoring and alerts. These capabilities improve the delivery of patient care and help avoid the lapse in the delivery of proper treatment.
Additionally, advancement in telehealth and health in digital platforms have enabled the healthcare practitioners to monitor and coordinate patients receiving home infusion therapy. These technologies have minimized the occurrence of complications, enhanced the patients' results, and thereby increased take-up of the home infusion therapy as a reliable form of care as compared to the conventional hospital-based care.
Rising Healthcare Costs: Hospital-based treatments and health-care services have been registering higher costs, which are shifting the focus towards home infusion therapy as a strong market growth driver. This makes home care a better solution because it comes at a lesser cost in terms of hospital costs, transport costs, and costs of running the institutional facility. With insurers and care administrative centers recognizing the cost efficiencies brought by home infusion therapy, continuous improvements in reimbursement regimes and patient advocacy are being implemented by insurance firms, and healthcare providers to accommodate this model of treatment. Such change in the approach to use cost-efficient care solutions is encouraging the patient populations and healthcare organizations to accept home infusion therapy, which is adding market size.
Patient Preference for Home Care: A growing number of patients are very willing to be treated at home instead of going to the hospital they give preference to. The patient can fully enjoy their home environment during the administration of the home infusion therapy, which is confidential, comfortable and creates more natural setting compared to the clinical environment. It is among the common preferences made by patients with diseases that need recurrent or extended medical care. It is also common knowledge that a patient feels much more comfortable receiving care in familiar surroundings as this helps to reduce stress and improve general satisfaction, meaning that there is already appreciation for home infusion therapy and consumers growing this market.
Asia Pacific Home Infusion Therapy Market
The Asia Pacific Home Infusion Therapy Market will have vast opportunities for development due to a growing demand for healthcare and advancements in technology. China, Japan, India, and Australia are the countries that have been cited as playing a major role as far as this growth is concerned. The population is aging and getting susceptible to chronic diseases such as diabetes, cancer, and cardiovascular diseases which demand long term treatments hence gainful use of home infusion therapy.
Human factors like portable Infusion Pumps and Telehealth integration are some of the technological advancements that improve the comfort of patients and the efficacy of treatments. Moreover, aging demographics and increasing expense of care require efficient, patient-centred home care solutions. Concerning the factors that drive market growth, it is also crucial to point out that many countries have been launching government programs and introducing more sympathetic healthcare policies. On the whole, numerous Asia Pacific countries are expected to witness substantial advances in home infusion therapy for enhancing patients' conditions and healthcare services.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 195 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $42.7 Billion |
| Forecasted Market Value (USD) by 2032 | $72.84 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
Key Players Analysis: Business Overview, Product Portfolio, Recent Development & Strategies, Revenue Analysis
- Pfizer Inc.
- Smith & Nephew plc
- Terumo Corporation
- Johnson & Johnson Services, Inc.
- Becton, Dickinson and Company
- Baxter International Inc.
- ICU Medical
- Eli Lilly and Company
Product - Market breakup in 4 viewpoints:
- Infusion Pump
- Intravenous Sets
- IV Cannulas
- Needleless Connectors
Application - Market breakup in 7 viewpoints:
- Anti-Infective
- Hydration Therapy
- Chemotherapy
- Enternal Nutrition
- Parenteral Nutrition
- Specialty Pharmaceuticals
- Others
Country - Market breakup of 25 Countries:
- North America
- United States
- Canada
- Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherland
- Turkey
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of the world
For more information about this report visit https://www.researchandmarkets.com/r/x13lb0
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