The Home Infusion Therapy Devices Market size is projected to be valued at USD 2.3 Billion in 2023 and is expected to rise to USD 4.4 Billion by 2033. The sales of home infusion therapy devices are expected to grow at a significant CAGR of 6.6% during the forecast period. Various factors propelling the demand for home infusion therapy devices are:
The usefulness of home infusion therapy devices in modern times cannot be overstated because the medical community has evolved with various new treatment lines.
Due to improvements in medical practices and procedures, there has been an increase in demand for home infusion therapy devices globally. Market expansion has been aided by the seamless medical industry's commitment to developing innovative technology.
The availability of qualified medical professionals who are acquainted with the newest medical technologies has also fueled industry expansion. It is natural to anticipate that the availability of infusion therapy equipment will promote the expansion of related medical fraternities.
In the coming years, the global home infusion therapy devices market is expected to draw the attention of key investing entities. Furthermore, the popularity of home infusion treatments has prompted infusion therapy device makers to accelerate their manufacturing process.
The presence of multiple players in the global home infusion therapy devices market is also an important market growth dynamic. Across the infusion therapy devices market, there has been a trend of inter-competitor support. This trend has had a direct impact on the global home infusion therapy devices market's growth dynamics.
Several diseases, including immunological deficiencies, cancer, and congestive heart failure, can only be treated with infusion therapy rather than oral medication. Home infusion therapy is thought to be more economical than inpatient treatment for these individuals as they need long-term care.
| Attribute | Details |
|---|---|
| Home Infusion Therapy Devices Market Estimated Size (2023) | USD 2.3 Billion |
| Home Infusion Therapy Devices Market CAGR (2023 to 2033) | 6.6% |
| Home Infusion Therapy Devices Market Forecasted Size (2033) | USD 4.4 Billion |
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The global home infusion therapy devices market expanded at over 5.3% CAGR in 2021. Driven by the increasing sensitivity of people towards orally administered medicines and the rising prevalence of GI-related disorders, the market is poised to expand at 6.6% CAGR through 2033.
As patients now prefer shorter stays in hospitals and due to the outbreak of COVID-19, the demand for home infusion therapy has considerably increased. Slow administration of drugs, and antibiotics in hospitals, and the risk of getting an infection are the major reasons for the improved adoption of home infusion therapy devices.
It is also considered a preferred choice for the treatment of cancer and GI-related diseases or any medical condition when orally administered medicines are not working. Approximately, 33% of cancer survivors have chronic pain and need infusion therapy and direct administration of drugs for rapid relief.
Due to the increasing preference among patients and the high prevalence of cancer across the globe, the home infusion therapy devices market is expected to grow rapidly during the forecast period.
The market is expected to observe an incremental USD opportunity of more than USD 2.1 Billion through 2023 & beyond.
The rising acceptance of specialty infusion therapy presents strong growth opportunities for manufacturers. It is a specific type of infusion therapy that involves the administration of medication using specialty medical infusion pumps, designed to accommodate a particular type of fluid or medication.
Among all the product types, insulin pumps are expected to show the maximum growth, exhibiting growth at a CAGR of 8.2% from 2021 to 2031. The rising prevalence of diabetes across the globe is improving the demand for insulin pumps.
According to the National Health Service (NHS) United Kingdom, the incidence of diabetes has increased by approximately 60% over the past decade.
Rising cases of chronic diseases such as diabetes and cancer are improving the adoption of these devices. This will in turn create attractive opportunities for home infusion therapy device manufacturers.
Mergers and acquisitions are expanding home infusion therapy devices' global reach
Baxter International also finalized the purchase of Hillrom in December 2021. The company will benefit from this acquisition by expanding its geographic reach and incorporating medical device technologies that will improve patient care, reduce costs, and boost workflow efficiency.
Additionally, in March 2021, Terumo and Glooko, a provider of mobile apps and remote patient monitoring software, announced technological cooperation to deliver fresh diabetes data solutions internationally.
Data from Terumo's diabetes management devices will be able to be integrated into Glooko's diabetic data management platform via the agreement.
The Australian Therapeutic Goods Administration granted CE marking and marketing authorization for the Evo IQ Syringe Infusion System in May 2020, according to a statement from Baxter International. Such acquisitions and mergers would proliferate and expand market reach globally.
Principal Consultant
The market for home infusion therapy is predicted to be dominated by infusion system accessories. By the end of the analysis period, it is anticipated to grow at a 5.8% CAGR and reach USD 18.2 billion.
Infusion system accessories offer a number of advantages, including the capacity to administer fluids in minuscule amounts and at precisely timed intervals. They can be used to provide nutrition or medications including antibiotics, chemotherapeutic treatments, hormones like insulin, and painkillers.
There are several different kinds of infusion pumps available, including large volume, patient-controlled analgesia (PCA), elastomeric, syringe, enteral, and insulin pumps.
The growing cases of malnutrition around the world are rising the need for enteral feeding nutrition. Furthermore, enteral nutrition is cost-effective and simpler in comparison to other alternatives.
Enteral feeding maintains GI mucosal barrier and prevents muscle catabolism. Enteral nutrition is highly preferred in-home medical setup due to fewer complications and its efficient use of nutrients.
The main drivers of the market's growth are the rising incidence of chronic diseases and the mounting strain on the infrastructure of primary healthcare. In this region, it's typical to have neurological illnesses, rheumatoid arthritis, hemophilia, immune system deficits, and multiple sclerosis.
The number of patients served by home infusion and specialized providers in the United States in 2019 was over 3 million, increasing 300 percent from the previous industry research in 2008. By 2020, home and specialty infusion will generate USD 19 billion in revenue, with 3.2 million patients being served by more than 900 clinicians.
This figure is anticipated to increase over the anticipated timeframe, supporting the market growth for home infusion therapy.
| US Market Size (USD Million/Billion) by End of Forecast Period (2033) | USD 1.7 Billion |
|---|---|
| US Market Absolute Dollar Growth (USD Million/Billion) | USD 869.6 Million |
| CAGR % 2017 to 2022 | 6.6% |
| CAGR % 2023 to End of Forecast (2033) | 7.0% |
Traditional patient care patterns are changing throughout the United Kingdom as a result of advancements in demography, epidemiology, socioeconomics, and culture. A result of shifting demographics is an increase in the popularity of home infusion therapy.
The population makeup of European Union (EU) nations will drastically change soon. It is anticipated that the percentage of elderly and very elderly people would rise. By 2025, the largest age group will be made up of adults between the ages of 40 and 44, predicts Statista (52.7 million).
The market for home infusion therapy in this area is expanding mostly due to the growing elderly population.
| UK Market Size (USDMillion/Billion) by End of Forecast Period (2033) | USD 274.8 Million |
|---|---|
| UK Market Absolute Dollar Growth (USD Million/Billion) | USD 146.0 Million |
| CAGR % 2017 to 2022 | 7.0% |
| CAGR % 2023 to End of Forecast (2033) | 7.9% |
Due to the region's dense population, the Asia-Pacific region is expected to experience the greatest CAGR growth in the home infusion treatment market. Countries with dense populations include China, India, Japan, and South Korea.
Hospitals are encouraging the use of home infusion therapy for patients who can be treated at home in order to lessen the burden on primary healthcare facilities. In this area, chronic illnesses like rheumatoid arthritis, cancer, mental illnesses, and cardiovascular conditions are widespread.
The early stages of these illnesses can be managed at home with the help of a healthcare expert. The market is anticipated to expand because of the rising prevalence of chronic diseases and increased public awareness of the advantages of home infusion therapy.
| China Market Size (USDMillion/Billion) by End of Forecast Period (2033) | USD 355.7 Million |
|---|---|
| China Market Absolute Dollar Growth (USD Million/Billion) | USD 192.0 Million |
| CAGR % 2017 to 2022 | 6.8% |
| CAGR % 2023 to End of Forecast (2033) | 8.1% |
Japan currently owns a market share of over 38% in East Asia, and in 2021, it is expected to grow at a CAGR of 7.0%. Since Japan's healthcare sector is experiencing an increase in technical growth, major firms are keeping an eye on the country.
To diversify their product offerings and clientele, leading firms in Japan are partnering with and buying regional healthcare manufacturers. The market for home infusion therapy devices will consequently be driven by this.
For instance, Terumo Corporation announced in February 2021 that it had reached a deal to purchase Health Outcomes Sciences, Inc. This agreement expands Terumo's footprint in the digital healthcare sector and provides a huge prospect for future growth.
| Japan Market Size (USDMillion/Billion) by End of Forecast Period (2033) | USD 227.5 Million |
|---|---|
| Japan Market Absolute Dollar Growth (USD Million/Billion) | USD 111.9 Million |
| CAGR % 2017 to 2022 | 5.6% |
| CAGR % 2023 to End of Forecast (2033) | 7.0% |
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High levels of competition have been seen in the international market. The quick uptake of cutting-edge medical technology for better healthcare services is one of the main causes of boosting competition among industry participants.
Moreover, large players frequently employ tactics like mergers, acquisitions, and new product releases in order to maintain market share and broaden their product portfolio.
Latest Developments
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.6% from 2023 to 2033 |
| Base Year of Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and Volume in Units and F-CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | By Product, By Application, By End User, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East & Africa; Oceania |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | CVS/Coram; Option Care Health; CareFusion Corporation; BriovaRx/Diplomat (UnitedHealth Optum); PharMerica; Fresenius Kabi; CU Medical, Inc.; B. Braun Melsungen AG; Baxter; BD; Caesarea Medical Electronics; Smiths Medical; Terumo Corporation; JMS Co. Ltd. |
| Customization & Pricing | Available upon Request |
The market is estimated to secure a valuation of USD 2.3 billion in 2023.
The market’s is estimated to develop at a CAGR of 6.6%.
CVS/Coram and Option Care Health are the key market players.
The infusion system accessories segment is likely to remain preferred through 2033.
The global market size is estimated to reach USD 4.4 billion by 2033.
1. Executive Summary | Home Infusion Therapy Devices Market
2. Market Overview
3. Market Background
4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033
5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Disposable Elastomeric Pumps
5.2. Insulin Pumps
5.3. PCA Pumps
5.4. Electronic Ambulatory Pumps
5.5. Infusion System Accessories
6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application
6.1. Enteral Nutrition
6.2. Parenteral Nutrition
6.3. Chemotherapy
6.4. Antibiotic Administration
6.5. Others
7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End User
7.1. Home Care Settings
7.2. Long Term Care Centers
8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region
8.1. North America
8.2. Latin America
8.3. Europe
8.4. East Asia
8.5. South Asia
8.6. Oceania
8.7. Middle East and Africa (MEA)
9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
12. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
13. South Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
14. Oceania Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
15. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
16. Key Countries Market Analysis
17. Market Structure Analysis
18. Competition Analysis
18.1. Baxter International Inc.
18.2. Fresenius Kabi AG
18.3. B. Braun Melsungen AG
18.4. Becton, Dickinson, and Company
18.5. Smith & Nephew PLC
18.6. Nipro Corporation
18.7. Pfizer Inc.
18.8. F. Hoffmann-La Roche Ltd
18.9. Johnson & Johnson
18.10. Terumo Corporation
18.11. Micrel Medical Devices S.A.
18.12. JMS Co. Ltd.
19. Assumptions & Acronyms Used
20. Research Methodology
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Home Infusion Therapy Devices Market
