According to our latest study on "Home Infusion Therapy Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product, Application, and Route of Administration," the market was valued at US$ 21,765.95 million in 2022 and is likely to reach US$ 35,696.05 million by 2028; it is estimated to record a CAGR of 8.6% from 2022 to 2028. The increasing prevalence of chronic disorders coupled with the rising geriatric population, and reducing duration of hospital stays and surging cost of care drive the home infusion therapy market development. However, recalls of infusion pumps and safety concerns associated with home infusion hamper the home infusion therapy market growth.
Increasing Incidences of Chronic Disorders Coupled with Rising Geriatric Population Drive Growth of Home Infusion Therapy Market
Chronic disorders such as cardiovascular, nutritional, and gastrointestinal disorders, rheumatoid arthritis, and neurological disorders affect the overall quality of life. According to the World Health Organization (WHO), over 50% of the global population is estimated to suffer from at least one chronic disease. The Centers for Disease Control and Prevention (CDC) stated that 6 out of 10 people in the US suffered from at least one chronic disease in 2019. According to the "Worldwide Prevalence and Burden of Functional Gastrointestinal Disorders, Results of Rome Foundation Global Study," a large-scale multinational study published in 2021, ~40% of 73,076 adults surveyed from 33 countries across the world were suffering from a functional gastrointestinal disorder (GFID). Age-related gastrointestinal problems are more common in the elderly population, aged 64 and above. Per the study titled "Gastrointestinal problem among Indian adults: Evidence from Longitudinal Aging Study in India" published in 2022, self-reported gastrointestinal disorders prevalence was reported at ~18%. The study also mentions that varying rates of gastrointestinal problems have been observed across the world, ranging from 14% in Iran to 54% in some western countries.
Cardiovascular diseases (CVDs), especially the cases associated with hectic lifestyles, are a significant cause of mortality globally. According to the International Diabetes Federation (IDF), 537 million people worldwide, aged 20-79, had diabetes in 2021, and the number is estimated to rise to 783 million by 2045. Additionally, diabetes was the cause of 6.7 million deaths worldwide in 2021. According to the Neurological Alliance, ~14.7 million neurological cases were registered in 2019, with at least 1 in 6 people suffering from 1 or more neurological conditions.
Aging can cause a consistent loss of physiological integrity, resulting in a reduction in functionality and an increased risk of mortality. The degradation of body function is a key risk factor for contracting the majority of chronic diseases, including diabetes, CVD, and neurological diseases, among elderly patients. According to the Global Ageing Survey 2019, the frequency of a person aged 65 or above is likely to increase from 1 in every 11 inhabitants in 2019 to 1 in every 6 inhabitants by 2025. As per the US Census Bureau, the number of Americans with age 65 and above is anticipated to double from 46 million in 2016 to over 98 million by 2060, and the share of the elderly population in the global population will increase from 15% to ~24% in the same period. Moreover, except in Africa, the pace of aging will be high in all regions, having nearly a quarter or more of their population aged 60 and above by 2050.
The growing baby boomer population suffering from decreased mobility and chronic disorders triggers the demand for home infusion therapies. According to the Department of Economic and Social Affairs updates from December 2021, more than 250 million senior citizens will suffer from moderate to severe disabilities in 2020. Home infusion is a process in which patients receive treatment at home by the administration of drugs or biologicals through needles and catheters. It has proven to be an effective alternative to inpatient care for the treatment of different diseases, both acute and chronic. Additionally, a growing preference for in-home care, especially during the COVID-19 pandemic, has bolstered the demand for home infusion products and services. The utilization of next-generation infusion pumps in homecare settings has also been influenced by improvements in their usability and convenience. Diabetes in the elderly population has pushed forward the need for home infusion pumps for insulin administration. Thus, the rising incidence of chronic conditions, coupled with the growing geriatric population, drives the growth of the home infusion therapy market.
B. Braun Melsungen AG, Micrel Medical Devices SA, Baxter International Inc, Nipro Corp, Becton Dickinson and Co, Fresenius Kabi AG, ICU Medical Inc, JMS Co Ltd, Eitan Medical Ltd, and Terumo Corp are among the leading companies operating in the home infusion therapy market.
Home Infusion Therapy Market, by Product (%)
The report segments the home infusion therapy market as follows:
The home infusion therapy market is segmented on the basis of product, application, route of administration, and geography. Based on product, the home infusion therapy market is segmented into infusion pump, intravenous sets, IV cannulas, and needleless connectors. The market for the infusion pumps segment is further segmented into insulin pumps, elastomeric pumps, syringe pumps, and others. Based on application, the home infusion therapy market is segmented into enteral nutrition, anti-infective, endocrinology, hydration therapy, chemotherapy, specialty pharmaceuticals, and others. Based on route of administration, the home infusion therapy market is segmented into intramuscular, subcutaneously, and epidural. Based on geography, the home infusion therapy market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, Thailand, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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