About Home Infusion Therapy Industry

The U.S. home infusion therapy market size was estimated at USD 16.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030.

What Is Home Infusion Therapy?

The intravenous or subcutaneous administration of drugs given to a patient at home through catheters or needles is known as home infusion therapy. The therapy requires drugs, equipment, and supplies for the treatment. Moreover, proper training and education are needed for the therapy. The medical staff often educate the patients and caregivers regarding the infusion of drugs, side effects, and outcome of the therapy. Home infusion therapy requires multiple coordination between the patients, pharmacies, doctors, health plans, home infusion pharmacies, and physicians.

Home Infusion Therapy Market Size And Drivers

According to the Grand View Research Inc report, the home infusion therapy market totaled USD 31.0 billion in 2021 and is anticipated to exhibit market growth at a compound annual growth rate (CAGR) of 7.9% from 2022 to 2030. The growth of the market is attributed to the cost-effective and convenient option available to the patients raised due to home infusion therapy. Favorable government rules and regulations regarding the usage of the therapy are driving the market growth. For instance, In the U.S., the Bipartisan Budget Act,2018 was introduced for providing insurance to the home infusion therapy patient as per the government regulation. Moreover, the growing prevalence of chronic diseases such as cardiovascular diseases is expected to impact market growth.

The Most Preferred Product - Infusion Pumps, Why?

Based on the product, the market is classified into infusion pumps, ambulatory pumps, intravenous sets, IV cannulas, and needleless connectors. Out of all these pumps, the infusion pump accounted for the highest revenue share of 50% in 2021 as it is the most used product of all. These pumps are widely used for the infusion of nutrients and medications such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. into the patient’s body at a controlled amount. Infusion pumps provide advantages such as the ability to deliver medications in very small volumes, and the ability to infuse fluids at precise programmed rates or any automated intervals.

Infusion Pumps-Definition, And Functioning

The infusion pump is defined as a medical device that infuses fluids into the patient’s body. Infusion pumps are used in hospitals, nursing homes, homes, and other clinical settings. These are particularly operated by trained users for programming the rate and duration of fluid delivery through a built-in software interface.

Types Of Infusion Pumps

There are different types of infusion pumps such as large volume, syringe, enteral, insulin pumps, and others. Out of these pumps, some pumps are used for stationary use and others to be used as portable or wearable. There are two basic classes of pumps, large volume pumps, and small volume pumps. Large volume pumps can infuse fluid replacement such as antibiotics and nutrients in a large amount. Small volume pumps can pump hormones such as insulin or other medications such as opiates. Small volume pumps usually use a computer-controlled motor turning a screw pushing the plunger on syringes, whereas the large volume pumps use computer-controlled rollers pushing the silicone rubber which contains the medicine.

Related Press Release@ https://www.grandviewresearch.com/press-release/global-home-infusion-therapy-market

Infusion Pumps Market, Drivers

The infusion pump market is anticipated to witness significant growth during the forecast period. The growth of the market is attributed to the availability of a variety of products such as enteral, syringe, multichannel, and peristaltic pumps and the accuracy gained by the software interface used for the use of infusion pumps.

The rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, cancer, and others and the growing cost of hospital-based infusion therapies have increased the demand for home infusion therapies. Moreover, the increasing research and development activities for enhancing home-based infusion products are propelling the market growth. Furthermore, the growing geriatric population who need long-term care and treatments aid the new product developments that target home-based infusion therapies, augmenting the infusion pumps market growth.

To maintain the drug level in the bloodstream of patients suffering from cancer or diabetic conditions, infusion pumps are highly preferred. Cancer patients are treated with chemotherapy, which is administrated by providing medications to the patients in a continuous manner and this is possible using pumps. Moreover, for diabetic patients, the need for self-controlled pumps to provide continuous drug supply. Altogether these are the key factors rising the demand for infusion pumps, creating opportunities for market expansion.

Market Trends & Opportunities

The application areas of infusion pumps are Chemotherapy, gastroenterology, analgesia/pain management, and diabetes. These pumps are also highly preferred for the infusion of narcotic analgesics and anesthetics following bariatric surgery, cardiothoracic surgery, and laparoscopic cholecystectomy. Thus, to perform the surgeries, the use of infusion pumps is also increasing. As the number of surgeries is being performed, a greater number of infusion pumps will be in demand, accelerating the market growth.

There are several regulations and standards implemented for the infusion pumps used to maintain the safety of patients. These are regulated by regulatory bodies such as the US Food and Drug Administration (FDA), the Medicines and Healthcare Products Regulatory Agency (MHRA), and the European Medicines Agency (EMA) to approve the launch of new products. For instance, in European countries, the CE market certification is a must for selling infusion pumps. There is a need to develop new infusion pumps across nations, creating opportunities for manufacturers to increase production.

Moreover, the demand for specialty infusion pumps is increasing at a fast pace PCA pumps keep the anesthesia in control and minimize any complications arising due to anesthetics. The eternal infusion pumps are used to treat patients who are being suffered due to indigestions after surgeries Increasing cases of preterm births, growing prevalence of chronic diseases and

COVID-19 Impact

The COVID-19 outbreak positively affected the home infusion market as the technique was highly used in healthcare settings to treat the covid patients. For instance, in October 2020, Baxter announced third quarter sales of around USD 2.97 billion to provide COVID-related medical products sales, according to the MedTech Dive. However, the supply chain and operations were impacted by the stringent lockdown situation across the countries.

The growth of the infusion pump market has thrived in the COVID-19 pandemic. People suffering from chronic diseases, and the geriatric population preferred home care treatments Moreover, conditions such as immune deficiencies, and congestive heart failure need infusion therapies. Long-term treatment with cost-effectiveness is considered a feasible treatment option for patients. Hence, the market for home infusion therapy is growing significantly across countries. Thereby, the demand for infusion pumps is propelling at a significant rate.

Regional Insights

The market in North America accounted for a revenue share of 55% of the total market. It is anticipated that the North America market continue dominating the market during the forecast period. The advanced technologies and the development of the R& D activities are attributing to the market growth in the region. The adoption of new technologies in infusion pumps and home infusion therapy services is driving the market growth.

The Asia Pacific market is anticipated to expand at a CAGR of 9.8% during the forecast period. The growing awareness about the use and benefits of home infusion therapy is driving the demand for infusion pumps in the region.

Role of Key Players

The key players operating in the market are focusing on the rapid adoption of advanced technologies to develop new products and maintain their position in the competition. Moreover, they are emphasizing strategies such as mergers, acquisitions, and new product launches.

For instance, Baxter International acquired Hillrom. This acquisition is estimated to build its geographic footprint and integrate medical device advancements.

Future Scope

Infusion pumps are advantageous and impactful for the growth of the home infusion therapy market. The demand for infusion pumps and their market is gaining significant traction at present days. Further, the market is estimated to witness considerable growth during the forecast period.

Related Reports:

EMEA Home Infusion Services Market

U.S. Home Infusion Therapy Market

Reviews

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