United States Home Infusion Therapy Market Analysis
The United States Home Infusion Therapy Market is expected to be approximately US$ 19.06 billion by 2032, compared to US$ 9.50 billion in 2023. Renub Research stated that the industry is predicted to increase at a CAGR of 8.04% from 2024 to 2032.
Using a needle or catheter to administer medication outside a hospital or other medical facility is called home infusion. Pharmacists, nurses, and other medical personnel with specialized expertise in administering infusion drugs support individuals requiring infusion therapy. Medication administered at home or a location other than an institution cuts down on the time patients must spend away from regular activities like jobs, school, and hobbies to complete therapy. For a variety of treatments and illness conditions, both acute and chronic, home infusion is a secure and efficient substitute for hospitalization. Many patients find getting their treatment in an infusion suite or at home more convenient than staying in a hospital. As evidence of enhanced clinical results and quality-of-life benefits for home infusion patients mount, the number of treatments available at home keeps expanding.
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Home infusion therapy involves administering medications, nutrients, or other treatments through intravenous (IV) or subcutaneous routes in the patient's home. This form of therapy is commonly used for conditions such as infections, dehydration, nutritional deficiencies, cancer, and chronic pain. It offers a convenient and cost-effective alternative to inpatient care, reducing hospital stays and associated costs.
Several key factors contribute to the growth of the home infusion therapy market in the United States. Firstly, the increasing incidence of chronic diseases such as diabetes, cancer, and cardiovascular conditions necessitates long-term treatment plans that can be effectively managed at home. Home infusion therapy allows patients to receive necessary treatments without frequent hospital visits, improving their quality of life.
Technological advancements in infusion devices and telehealth have also significantly boosted the market. Modern infusion pumps are designed to be portable and user-friendly, allowing patients to manage their treatments with minimal assistance. Additionally, telehealth services enable healthcare providers to remotely monitor patients, ensuring the safety and effectiveness of home-based therapies.
The aging population in the United States is another critical driver. As the number of elderly individuals increases, so does the demand for home-based healthcare services. Older adults often prefer receiving care in the comfort of their homes, making home infusion therapy an attractive option for managing age-related health issues.
Economic factors also play a role in the market's growth. Home infusion therapy is generally more cost-effective than hospital-based care, making it an appealing choice for patients and healthcare systems looking to reduce expenditures. Insurance coverage and reimbursement policies have become more favorable, encouraging the adoption of home infusion services.
Despite its advantages, the market faces challenges, such as the need for skilled healthcare professionals to administer and monitor treatments and the potential for complications associated with home-based IV therapy. However, ongoing training programs and advancements in technology are addressing these issues.
United States Home Infusion Therapy Industry News
Baxter International Inc., Becton Dickinson and Company, Eli Lilly Company, Fresenius SE Co. KGaA, ICU Medical Inc., Option Care Health Inc., and Terumo Corporation are among the critical players in the United States Home Infusion Therapy Industry.
In January 2024 - Members now have better access to specialist medication thanks to Elevance Health's acquisition of Paragon Healthcare, an infusion therapy supplier.
In September 2023, Sodexo's Worldwide Home Care subsidiary agreed to be acquired by The Halifax Group.
In September 2023, Virginia Oncology Associates (VOA) and Fresenius Kabi announced their agreement to buy an Ivenix Infusion System so that VOA can provide medication to its patients. VOA focuses on treating patients with blood diseases and cancer by giving them access to cutting-edge treatments and technologies.
In September 2022, Baxter rejoiced when the FDA approved its stylish Novum IQ syringe infusion pump. This pump, outfitted with Dose IQ Safety Software, represents a significant advancement in infusion therapy.
By Application – Market is broken up into 8 viewpoints.
- Anti-Infective
- Endocrinology
- Hydration Therapy
- Chemotherapy
- Enteral Nutrition
- Parenteral Nutrition
- Specialty Pharmaceuticals
- Others
By Product – Market is broken up into 4 viewpoints.
- Infusion Pumps
- Intravenous Sets
- IV Cannulas
- Needleless Connectors
By States – Market is broken up into 29 viewpoints.
- California
- Texas
- New York
- Florida
- Illinois
- Pennsylvania
- Ohio
- Georgia
- New Jersey
- Washington
- North Carolina
- Massachusetts
- Virginia
- Michigan
- Maryland
- Colorado
- Tennessee
- Indiana
- Arizona
- Minnesota
- Wisconsin
- Missouri
- Connecticut
- South Carolina
- Oregon
- Louisiana
- Alabama
- Kentucky
- Rest of United States
All companies have been covered from 3 viewpoints:
- Overview
- Recent Development
- Revenue
Company Analysis:
- Baxter International Inc.
- Becton Dickinson and Company
- Eli Lilly Company
- Fresenius SE Co. KGaA
- ICU Medical Inc.
- Option Care Health Inc.
- Terumo Corporation
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