DUBLIN--(BUSINESS WIRE)--The "Global Home Infusion Therapy Market By Indication Analysis, By Product Analysis & By Region-Forecast and Analysis 2022-2028" report has been added to ResearchAndMarkets.com's offering.
Global home infusion therapy market size was valued at USD 34.54 billion in 2021, and it is expected to reach a value of USD 54.82 billion by 2028, at a CAGR of 6.8% over the forecast period (2022 - 2028).
Multiple sclerosis, rheumatoid arthritis, Crohn's disease, immunological deficiency, and hemophilia are all treated with infusion therapy services. As a result, the expansion of infusion therapy's application sectors presents enormous opportunities for service expansion for businesses. The global market for infusion therapy is anticipated to be fueled by this. The global market for infusion therapy is being driven in large part by an increase in the number of people suffering from diabetes, cancer, and chronic pain.
In 2020, the International Agency for Research on Cancer (IARC) projects that 19.3 million new cases of cancer will occur worldwide and 10 million deaths will be caused by cancer. This means that one in five people will get cancer at some point in their lives, and one in eight men and one in 11 women will die from the disease. According to the International Diabetes Federation (IDF), 463 million people worldwide aged 20 to 79 had diabetes in 2019, and that number is expected to rise to 700 million by 2045. Additionally, diabetes was the cause of death for 4.2 million people worldwide in 2019.
Segments covered in this report
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.
Drivers
The burden of chronic diseases is rapidly increasing worldwide. Cancer, diabetes, congestive heart failure, and chronic immune deficiencies have all seen significant rises in prevalence. Patients receiving infusion therapy in residential settings and a large patient population with chronic illnesses are anticipated as a result. The rise in hospital-acquired illnesses is one of the primary drivers of the home infusion therapy market's expansion. Hospital-acquired infections are on the rise worldwide as a result of prolonged inpatient hospital stays and are currently one of the primary safety concerns among healthcare professionals.
Restraints
One of the main factors likely to impede market expansion is the absence of reimbursement policies in many developing nations. The absence of payment guidelines for home care in these nations exacerbates the situation. In developing nations, the number of patients receiving home infusion therapy has been limited. In developing nations, there are likely to be a lack of public and private house infusion providers, educated medical staff, and other resources that will limit the use of these services.
Trends
Patients are increasingly choosing residential medical care because the healthcare industry has undergone significant change in recent years. As non-critical diseases are treated in home care settings, which are examples of outpatient settings, patient and healthcare professional interactions are gradually shifting. A number of for-profit and private businesses have entered the service sector and are training medical professionals to provide patients at home with the advantages of infusion therapy.
Companies Mentioned
- Option Care Health Inc. (US)
- Optum, Inc. (US)
- CareCentrix, Inc. (US)
- CVS Health (US)
- KabaFusion (US)
- PromptCare (US)
- Baxter International Inc. (US)
- Infusystem (US)
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