The U.S. Home Infusion Therapy market size is estimated at 19,280.0 million USD with a CAGR of 10.9% during the forecasted period from 2021-2028.
The key factor that fuels the growth of U.S. Home Infusion Therapy market is attributed to increasing occurrence of chronic diseases like cancer, respiratory disorders, diabetes, etc. In case of chronic diseases, the treatment requires continuous monitoring and care which in turn surges the demand for home infusion therapy.
Moreover, increasing geriatric population is demanding the home infusion therapy. Also, rising automation in medical devices is significantly impacting the market growth.
The rising high-tech innovations and advancements in traditional infusion devices is expected to spur this market. For instance, modification of usual insulin infusion pumps into smart ones with less dosage error and easy handling. Besides, government initiatives to expand research & development activities by funding with an intention to provide superior service to ageing population is fostering the market growth.
On the other hand, factors such as unfavorable reimbursement policies and shortage of skilled professional may limit the growth of Home Infusion Therapy market.
Product Market Overview
The home infusion therapy market is largely dominated by infusion pumps used for administration of various nutritional and medicinal content to patients. As per estimates, the infusion pump market accounted for more than 50% of market share in 2018 and is forecasted to expand with a CAGR of over 10% from 2019 to 2025. Such high growth is a result of a state of the art improvements in pump device and function and deduction in error levels. The increasing number of surgeries also contribute to the growing demand for infusion pumps across the nation.
Use of needleless connectors is infusion therapy is gaining rapid popularity lately. The needless connectors market is estimated to grow at a CAGR of over 10% during the projection timeframe. Increasing practices of hydration therapy at home, rising incidence of diseases that require continuous administration of fluids will drive the demand for needleless connectors in the near future.
Product Application Market Overview
In 2018, anti-infective home infusion therapy held over 25% of the market and is forecast to grow with a robust rate over the upcoming years. Increasing incidences of bacterial infection, viral infection, etc., coupled with rising rates of hospital-acquired infections will spur the demand for anti-infective home infusion therapy across the nation.
Another major application is the administration of parenteral nutrition at home. As per findings, more than 40 thousand people across the United States receive parenteral nutrition via catheters. High prevalence of gastrointestinal tract disorders in the adult population are subject to parenteral nutrition in the U.S. with an increase in chronic diseases and GI tract disorders; the parenteral nutrition market is estimated to grow at a robust rate over the forecast period.
Regional Market Overview
Home infusion therapy market in the North East region of the country is poised to grow rapidly owing to the increasing number of home infusion therapy pharmacies. Provision of such pharmacies to offer home-based administration to patients is driving the demand for various infusion devices. Moreover, high average household income in enables people to avail care at home, resulting in market expansion.
Home infusion therapy market in the Pacific Central region of the United States is estimated to expand with a CAGR of over 11% during the projection timeframe. The growth is attributed to initiatives undertaken by government bodies to provide affordable home care for the geriatric population. Presence of such provision creates a high demand for devices from otherwise low-income groups who face affordability issues.
Key Industry Participants
Some of the prominent players in the U.S. home infusion therapy market are B.Braun, Caesarea Medical, Becton Dickinson, Fresenius Kabi, Halyard Health, Amsino International, Baxter International, ICU Medical, Moog, Smiths Medical, and Terumo Corporation. Merger, acquisitions, and new product launch are some of the strategies adopted by industry participants to gain a competitive advantage as well as to reap profits.
- Market by product:
- Infusion pumps
- Intravenous Sets
- IV Cannulas
- Needleless Connectors
- By Application
- Hydration Therapy
- Parenteral Nutrition
- Specialty Pharmaceuticals
- By region:
- East North Central
- West South Central
- South Atlantic
- North Carolina
- South Carolina
- West Virginia
- Washington DC
- North East
- New Hampshire
- Rhode Island
- New Jersey
- New York
- East South Central
- West North Central
- North Dakota
- South Dakota
- Pacific Central
- Mountain States
- New Mexico
Rising incidences of hospital-acquired infections
Rising prevalence of chronic diseases
Presence of homecare facilities across the United States
Dearth of reimbursement
Untapped potential in backward states