USD 43.35 billion
Report ID: SQSG35J2007 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 67 | Figures: 75
Home Infusion Therapy Market size was valued at USD 43.35 billion in 2021 and is poised to grow from USD 45.41 billion in 2022 to USD 65.2 billion by 2030, growing at a CAGR of 4.63% in the forecast period (2023-2030).
Infusion therapy services are also used to treat multiple sclerosis, rheumatoid arthritis, Crohn's illness, immunological deficiency, and hemophilia. Therefore, the growth of infusion therapy's application sectors offers tremendous opportunities for businesses to grow their services. This is expected to fuel the global market for infusion therapy.
An increase in the number of people with diabetes, cancer, and chronic pain is a key factor driving the global market for infusion therapy.
The International Agency for Research on Cancer (IARC) estimates that there will be 19.3 million new cases of cancer worldwide and 10 million cancer-related deaths in 2020, meaning that 1 in 5 people will develop cancer at some point in their lifetime and that 1 in 8 men and 1 in 11 women will pass away from the disease. The International Diabetes Federation (IDF) reports that there were 463 million individuals (20-79 years old) with diabetes worldwide in 2019, and that number is expected to reach 700 million by 2045. Additionally, 4.2 million people died from diabetes worldwide in 2019.
The infrastructure for healthcare is being modernized by governments in emerging nations, which is anticipated to expand access to healthcare. The need for infusion therapy services is anticipated to rise as a result. The worldwide infusion therapy industry has lucrative potential due to the rise in chronic disease prevalence in developing nations.
US Home Infusion Therapy Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 43.35 billion
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The global home infusion therapy market has been segmented based on indication analysis, product analysis, and region. Based on indication analysis, the market is segmented into enteral nutrition, anti-infective, chemotherapy, parenteral nutrition, hydration therapy, intravenous immunoglobulin, and others. Based on the product analysis, the market is segmented into devices, drugs, and services. Based on region, the home infusion therapy market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Home Infusion Therapy Market Analysis by Indication Analysis
The anti-infective segment dominated the market due to the increased prevalence of infectious diseases, ease of setup, and low cost of the therapy. The use of antibiotics after each subsequent infusion therapy lowers the risk of infection in patients as a result of catheter use, which is further boosting the popularity of this segment. The category for chemotherapy is anticipated to increase at the highest rate over the forecasted period. Future expansion of the chemotherapy market is projected to be accelerated by the significant rise in the prevalence of cancer worldwide and the increased knowledge of the advantages of home chemotherapy.
Due to the growth in primary immunodeficiency illnesses such as hypogammaglobinemia and congenital AIDS and the approval of new SCIG products for IG, the IVIG therapy segment has seen increased demand.
Home Infusion Therapy Market Analysis by Product Analysis
The market is divided into devices, medications, and services based on the kind of product. In 2020, the drug industry accounted for the highest market share. The robust infused medication pipeline and rising incidence of cancer and other chronic and acute illnesses worldwide are predicted to support the expansion of the drug segment during the anticipated period.
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The global home infusion therapy market in North America was valued at US$ 16.90 billion in 2021, as a result of the region's high uptake of the therapy and the presence of major companies. Additionally, a rising number of patients choosing infusion therapy at home is probably going to boost the industry in the area.
The market in Europe is anticipated to expand at a large rate due to the region's growing elderly population, rising chronic disease burden, and a growing number of government and industry initiatives supporting home infusion therapy.
During the forecast period, the market in Asia Pacific is anticipated to increase significantly and post the highest CAGR. This is attributable to both the surge in the use of cutting-edge technologies and the rising awareness of this treatment, which is used to treat a variety of chronic conditions. Additionally, the market in Asia Pacific is anticipated to grow during the projected period due to the rising prevalence of cancer, diabetes, and other long-term chronic diseases as well as an increase in the patient pool.
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Home Infusion Therapy Market Driver
Home Infusion Therapy Market Restraint
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The home infusion therapy market is competitive with the presence of several large players. R&D for new product launches and mergers & acquisitions are the key focus of well-entrenched players in the home infusion therapy market. For instance, in December 2021, Baxter International announced the purchase of Hillstrom. It will help the firm extend its global reach while also integrating medical device innovations to improve patient care, save costs, and streamline operations.
Top Players in Global Home Infusion Therapy Market
Home Infusion Therapy Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, and indication analysis, an anti-infective segment dominated the global home infusion therapy market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, North America dominated the globe, the home infusion therapy market owing to the region's high uptake of the therapy and the presence of major companies.
|Market size value in 2021||USD 43.35 billion|
|Market size value in 2030||USD 45.41 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Home Infusion Therapy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Home Infusion Therapy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG35J2007