Global Home Infusion Therapy Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2026– Increasing number of diagnosis of chronic diseases, neurological disorders and rising healthcare expenditure are the major factors expected to drive the growth of Global Home Infusion Therapy Market over forecast period.
Global Home Infusion Therapy Market is valued at USD 24.21 Billion in 2019 and expected to reach USD 38.03 Billion by 2026 with the CAGR of 7.82% over the forecast period.
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Key Players for Global Home Infusion Therapy Market Report-
Some major key players for Global Home Infusion Therapy Drug Market are B. Braun Melsungen AG, Fresenius Kabi AG, Baxter, Care Fusion Corporation, Hospira, Inc., AccuVein, Vuetek Scientific, Vein View Flex, IV-EYE, Veinlite, Aetna, Evena, Carecentrix, Axela Care, Tricare and Others.
Scope of Global Home Infusion Therapy Market Report–
Home infusion therapy involves the intravenous or subcutaneous administration of drugs or biological to an individual at home. The components needed to perform home infusion include the drug antiviral, immune globulin, equipment for a pump, and supplies. Similarly, nursing services are necessary to train and educate the patient and caregivers on the safe administration of infusion drugs often play an important role in home infusion. Hence, the nurses usually train the patient or caregiver to self-administer the drug, educate on side effects and goals of therapy and visit periodically to assess the infusion site and provide dressing changes. The home infusion process usually requires coordination among multiple entities, including patients, physicians, hospital discharge planners, health plans, home infusion pharmacies, and, if applicable, home health agencies. The medical condition requiring infusion therapy includes infections and disease which may not be responsive to oral antibiotics such as, cancer and cancer-related drugs, dehydration, and gastrointestinal diseases or disorders.
Still, the home infusion therapy is a comprehensive service that provides safe and effective administration of parenteral prescription medications and biologics in a patient’s home or other alternate sites. The home infusion therapy is considered advantageous for patients as they get the entire treatment at the comfort of their home. Furthermore, the home infusion therapy is a cost effective alternative to placement in hospital, and allows patients to adhere to their normal lifestyle while receiving treatment. These rising incidences of hospital acquired infections have a great impact on this market. Additionally, the healthcare spending associated with these infections is expected to encourage patients to prefer home care over the conventional settings. The use of infusion therapy may help to provide essential nutrients into the body circulation, bypassing the gastrointestinal tract, so that one can benefit from their full function in addressing their disease.
Global Home Infusion Therapy Market report is segmented on the basis of product type, application, and by regional & country level. Based on product type, global home infusion therapy market is classified as the infusion pumps, intravenous sets, IV cannulas, needleless connectors and vein imaging devices. Based upon application, global home infusion therapy is classified into anti-infective, hydration therapy, chemotherapy, enteral nutrition, parenteral nutrition and others.
The regions covered in this home infusion therapy market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of home infusion therapy is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
ACHC Launched Home Infusion Accreditation Program.
November 7th, 2019; The Accreditation Commission for Health Care launched a home infusion therapy accreditation program. Hence, the new program looks at education assessment, medication review and the development of a plan of care provided by a nurse or healthcare professional during a home visit. However, the principles are similar to those for ACHC’s infusion nursing and private duty infusion nursing services. The accreditation commission for health care (ACHC) is dedicated to ensuring the highest-quality patient care as demands for home infusion therapy services continue to grow said Susan Mills ACHC associate clinical director. These values are designed to meet new accreditation requirements while preserving the value of home infusion therapy services and helping providers enhance the quality of services they provide. Per the 21st Century Cures Act, home infusion suppliers must be accredited to receive Medicare reimbursement.
Global Home Infusion Therapy Market Dynamics–
The rapidly increasing geriatric population, fast technological developments, growing adoption of home infusion therapies and supportive government policies and regulations are expected to foster market growth. Hence, the rising incidence of chronic disorders has led to an augmentation in the demand for infusion therapy in outpatient settings, thereby boosting the home infusion therapy market. According to the World Health Organization (WHO) in 2050, estimated that the chronic diseases rapid population ageing is occurring worldwide, the total number of people aged 70 years or more is expected to increase from 269 million in 2000 to 1 billion high income countries will see their elderly population defined as people 70 years of age increase from 93 million to 217 million over this period, while in low and middle income countries the increase will be 174 million to 813 million. Furthermore, growing demand for reduction in in-patient length of hospital stays has led to the development of strategies to administer infusion therapy at home or in alternate healthcare settings, thereby boosting the growth of the home infusion therapy market. Heightened emphasis on cost-containment in healthcare has led to more inclination towards home infusion therapies by patients requiring long-term care.
However, the risk associated with the dose administration, lack of quality workforce, improper use of infusion devices and fewer reimbursement policies in underdeveloped countries may hamper the growth of the market. In spite of that, technological advancements in medical devices and robust pipeline of infusible drugs can present rewarding opportunities in the market in near future.
Global Home Infusion Therapy Market Regional Analysis –
North America is expected to dominate the global home infusion therapy market due to the increasing aging population and growing adoption home healthcare devices in this region. In addition, growing healthcare expenditure and increasing incidences of chronic diseases such as cancer, diabetes, immune deficiencies as a result of unhealthy lifestyle and lengthening the lifespan of the senior population and are also fostering the growth in this region. According to the World Health Organization (WHO) 2015 in U.S, estimated the chronic diseases about 41 million people will die, the number of deaths from chronic diseases will increase by 17% between 2005 and 2015, from 35 million to 41 million, the Cardiovascular diseases will remain the single leading cause of death, with an estimated 20 million people dying, mainly from heart disease and stroke.
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The Asia Pacific is expected to emerge as a high growth market over the forecast period owing to the incidence of large unmet needs in the emerging economies such as China and India and growing awareness levels regarding the profit of home infusion therapies over the in-hospital infusion therapies in this region. In addition rising disposable income and growing number of home infusion therapy providers are also fostering the market growth in this region. According to the World Health Organization (WHO); in 2025, in China aging population of chronic diseases as quickly as Japan, there will be 290 million Chinese aged 60 compared to 175 million, accounting for approximately 20% of the Chinese population, many will be suffering from cancer, dementia, diabetes and/or cardiovascular disease.
Key Benefits for Global Home Infusion Therapy Market Report–
- Global Home Infusion Therapy Market report covers in depth historical and forecast analysis.
- Global Home Infusion Therapy Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global Home Infusion Therapy Market report helps to identify opportunities in market place.
- Global Home Infusion Therapy Market report covers extensive analysis of emerging trends and competitive landscape.
Global Home Infusion Therapy Market Segmentation:–
Global Home Infusion Therapy Market: By Product Type
- Infusion Pumps
- Intravenous Sets
- IV Cannulas
- Needleless Connectors
- Vein Imaging Devices
Global Home Infusion Therapy Market: By Application
- Hydration Therapy
- Enteral Nutrition
- Parenteral Nutrition
Global Home Infusion Therapy Market: By Regional & Country Analysis
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- The Middle East and Africa
- Rest of Middle East and Africa
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