by Home infusion therapy involves intravenous administration of drugs and nutrients directly into a patient’s bloodstream at home. It provides an alternative to prolonged hospitalization for patients suffering from chronic ailments such as cancer, intestinal diseases, congestive heart failure, Crohn’s disease, immunoglobulin deficiencies, and others. Home infusion therapy enables improved quality of life by making it possible for patients to receive treatment at their homes in a safe, hygienic, and cost-effective manner. Many patients also opt for home therapy since it offers convenience and flexibility. The Global home infusion therapy market is driven by the rising prevalence of chronic diseases, growth in the geriatric population, advancements in infusion therapy, and cost benefits of home infusion as compared to hospital visits.
The global home infusion therapy market is estimated to be valued at US$ 24.51 Bn in 2024 and is expected to exhibit a CAGR of 6.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the home infusion therapy are Baxter International Inc., B. Braun
Melsungen AG, Fresenius Kabi AG, Smiths Medical, CareCentrix, Inc., Coram
CVS/specialty infusion services, Option Care Health Inc., CVS Health, UnitedHealth Group
(Optum), McKesson Corporation, PharMerica Corporation, BioScrip, Inc., MedicoRx Specialty Pharmacy, Infusystem, Diplomat Pharmacy, Inc., Accredo Health Group, Inc., Healix, Inc., and PromptCare Home Infusion.
Home Infusion Therapy Market demand is increasing due to the growth in the global geriatric population, which is leading to greater demand for home infusion therapy.According to the UN’s World Population Prospects report, the number of older persons aged 65 or over is projected to grow to more than 1.5 billion in 2050 globally. With ageing comes increased risk of chronic diseases that require long term care like home infusion therapy.
The home infusion therapy market is witnessing rapid global expansion with companies focusing on emerging economies in Asia Pacific and Latin America through partnerships and acquisitions to tap the high potential regions. For instance, Option Care Health expanded into Canada and Australia through strategic acquisitions in 2022 to solidify its position as a leading international home and alternate site infusion services provider.
Market Key Trends
The rising demand for self-administered therapies is a key trend in the home infusion therapy market. Many therapies have now become easier to administer, thus reducing dependency on nursing visits. For example, subcutaneous immunoglobulin therapy allows patients to selfadminister treatment at home with the help of small, portable infusion pumps. This has driven preference for homecare. Moreover, the COVID-19 pandemic reinforced the value of homebased care by enabling the continuity of treatments while maintaining social distancing. This further accelerated the adoption of home infusion therapy globally.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in the home infusion therapy market due to high capital requirements and stringent regulations.
Bargaining power of buyers: Individual buyers have low bargaining power as they depend on major companies for quality treatment. However, large hospitals and health insurers exert strong bargaining power.
Bargaining power of suppliers: Suppliers of infusion drugs and related equipment have moderate bargaining power due to availability of substitute products.
Threat of new substitutes: Home Infusion Therapy Market Challenges and Opportunities include a low threat of substitutes, as home infusion therapy provides convenient treatment for chronic ailments with fewer side effects than alternate options.
Competitive rivalry: The home infusion therapy market sees intense competition among key players to gain market share through new product launches and mergers & acquisitions.
Geographical Regions
North America accounts for the largest share of the home infusion therapy market due to the high prevalence of chronic diseases and supportive reimbursement structure.
Asia Pacific is poised to witness the fastest growth during the forecast period owing to increasing healthcare expenditure, rising geriatric population, growing awareness about home infusion therapy, and expansion of key players in emerging countries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn
