Global Home Infusion Therapy Market is expected to reach US$ 45.46 billion in 2027 from $27.97 billion in 2021, growing at a CAGR of 8.43%
Patients have shifted from conventional treatments to specialty infusion therapy treatments such as home infusion therapy over the years. Furthermore, the home infusion therapy industry is adept at meeting the most complex patient requirements. The demand for home infusion therapy devices will increase in the coming years as the application spectrum of infusion devices expands, along with the growing demand for infusion devices in the home care market.
Furthermore, an aging population, a higher prevalence of chronic diseases, and the novelty of such therapeutic devices contribute to the overall market's growth. In contrast, associated risks during medication administration, irregularities in infusion device operation, incorrect use of infusion devices, and complex reimbursement policies may stifle market growth.
Covid-19 Pandemic Boosted the Home Infusion Market Across the World
The Covid-19 pandemic had a favourable consequence on the home infusion market because the technique of home infusion was in high demand as healthcare facilities were overburdened with increasing numbers of Covid patients. Regional and national lockdowns significantly impacted operations and supply chains, yet the market grew substantially in 2020.
Product Insights Across Home Infusion Therapy Market Worldwide
By product, the home infusion therapy market is divided into four categories: infusion pumps, intravenous sets, IV cannulas, and needleless connectors. According to the analysis, the infusion pumps segment will have significant market because these pumps are widely used for the delivery of nutrients and medications. The availability of a wide range of products, including enteral, syringe, multichannel, and peristaltic pumps, contributes to segment growth.
The rising market for syringes and ambulatory pumps as people prefer home healthcare is also anticipated to contribute to segment growth. Moreover, smart pumps are now widely used because they include advanced features such as barcode technology, which aids in the verification of a patient's identity and prevents drug administration errors.
The Anti-Infective Dominates the Worldwide Home Infusion Therapy Market
In this report, Anti-infective, Hydration Therapy, Chemotherapy, Enteral Nutrition, Parenteral Nutrition, and Specialty Pharmaceuticals are the application segments of the market.
According to the analysis, the anti-infective market dominates the global home infusion therapy market, owing to the large number of procedures performed to administer antifungal and antibiotic drugs. It also helps to reduce patient exposure to other hospital-acquired infections (HAIs).
Similarly, chemotherapy is expected to be one of the fastest-growing segments over the forecast period, owing to rising cancer incidences. Home chemotherapy pumps are compact and continuous pressure pumps that do not require a battery and can thus be used for a more extended period. Chemotherapy drugs can be dispensed at the appropriate infusion rate and amount with the help of these pumps. As a result, the demand for pressure pumps is expected to grow in the coming years.
Regional Realms of Global Home Infusion Therapy Market
North America will dominate the market in the forecast period. Primarily, due to the regions increased R&D and rising adoption of new technology in infusion pumps. The regional market is being driven by the increasing need for long-term therapy for patients with certain conditions.
Furthermore, the development of alternative healthcare settings and home infusion services and the shift in appreciation from acute care to home care backdrops due to subordinate costs and increased patient mobility will propel the evolution of this market in the coming years.
Over the forecast period, the Asia Pacific market is expected to grow at the fastest rate. This is due to increased patient awareness of the advantages of home infusion therapy over in-hospital procedures and the region's rising diabetes prevalence. The region's growing geriatric population and rise in chronic diseases are expected to fuel market growth even further.
