Home Infusion Therapy Market To Reach USD 76.2 Billion By 2032, Report By DataHorizzon Research
The home infusion therapy market size was valued at USD 37.3 Billion in 2023 and is expected to reach a market size of USD 76.2 Billion by 2032 at a CAGR of 8.3%.
Fort Collins, Colorado, May 05, 2024 (GLOBE NEWSWIRE) —
The rise in the elderly population and chronic diseases propels the demand for home infusion therapies.
The increasing elderly population and the rising prevalence of chronic diseases significantly influence the home infusion therapy market. The United Nations projects that the global population aged 60 and older will reach 2.1 billion by 2050, a substantial increase from 962 million in 2017. This demographic trend, alongside the growing occurrence of chronic illnesses like cancer, diabetes, and immune disorders, is expected to fuel the demand for home infusion therapy services. For example, the International Diabetes Federation forecasts that the number of adults living with diabetes will surge from 463 million in 2019 to 700 million by 2045, with many requiring prolonged infusion therapy.
Key drivers for the market include the cost-effectiveness of home infusion therapy compared to hospital-based treatments and patients’ preference to receive care in their homes. Home infusion therapy diminishes hospital stays and associated costs, making it an appealing choice for patients and healthcare providers. A study published in the Journal of Infusion Nursing revealed that home infusion therapy can yield cost savings of up to 70% compared to hospital-based infusion services. Moreover, advancements in infusion devices and remote monitoring systems have enhanced the accessibility and safety of home infusion therapy, allowing patients to receive top-notch care without frequent hospital visits.
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Segmentation Overview:
The home infusion therapy market has been segmented into product, application, and region.
Infusion pumps are the largest growing segment in the forecast period.
- Based on the market segmentation by product type for the home infusion therapy market, the sub-segments include infusion pumps and needleless connectors. In 2023, Infusion pumps are likely to be the largest segment. Infusion pumps are essential devices that deliver controlled amounts of medications, nutrients, or fluids into a patient’s body. The increasing prevalence of chronic diseases, such as cancer and diabetes, which often require long-term infusion therapy, has driven the demand for infusion pumps in home settings.
The anti-infective is fast growing in the forecast period.
- Based on the market segmentation by application type for the home infusion therapy market, the sub-segments include anti-infective and chemotherapy. In 2023, the anti-infective sub-segment is expected to hold the largest share. Anti-infective therapies, which include antibiotics, antivirals, and antifungals, are widely used to treat various infectious diseases in home settings.
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Home Infusion Therapy Market Report Highlights:
- The home infusion therapy market growth is anticipated at a CAGR of 8.3% by 2032.
- Technological advancements and smart infusion systems drive opportunities for the home infusion therapy market.
- The Asia Pacific region is expected to grow fastest in the coming years. This increase is driven by factors such as the increasing prevalence of chronic diseases, rising geriatric population, and growing awareness about home healthcare services.
- Some prominent players in the home infusion therapy market report include Baxter International Inc., B. Braun Melsungen AG, Becton, Dickinson and Company (BD), Fresenius Kabi AG, ICU Medical, Inc., Smiths Medical (a division of Smiths Group plc), Terumo Corporation, Option Care Health, Inc., UnitedHealth Group (OptumRx).
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About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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