Home Infusion Therapy Services Market | Contrive Datum Insights

Global Home Infusion Therapy Market size was valued at USD 31.94 billion in 2022 and is projected to reach USD 61.7 billion by 2030, growing at a CAGR of 7.90% from 2022 to 2030.

Home Infusion Therapy Services Market Overview:

Home infusion therapy is the intravenous or subcutaneous administration of a drug or biologic to an individual at home. Favorable government policies and regulations are expected to propel the market growth. In February 2018, the Bipartisan Budget Act of 2018 was signed into law stating that the government would pay for all temporary payments for home infusion therapy in the United States under this provision.

Additionally, increasing prevalence of chronic diseases such as cardiovascular disease (CVD), cancer, diabetes and other life-threatening conditions is expected to significantly impact the market growth. According to the WHO report, the above-mentioned diseases accounted for 60.0% of all deaths and 43.0% of the disease burden in the United States in 2019. This requires an infusion of nutritional products containing glutamine, phospholipids, glucose and aminos. Acidity while administering drugs to patients, which in turn is expected to propel market growth in this region.

Key Market Updates:

• In December 2021, Baxter International completed the acquisition of Hillrom. This procurement will help organizations broaden their geographic footprint and coordinate clinical device innovation, while improving patient consideration, reducing costs and improving work process productivity.
• In May 2021, Smiths Medical and Ivenix, Inc. declared an organizational agreement to offer a broad mix of board configurations in the US market. The association must develop a mix of boards for ongoing security work.
• In March 2021, Terumo and Glooko, a distant understanding-checking programming and multi-purpose application organization, reported mechanical adjustments to communicate new diabetes information preparations together worldwide. The Association allows information from Terumo's Diabetes Management Device to be sent to Glooko's Diabetes Information Board level.

Major Market Segments Covered in Home Infusion Therapy Services Market Industry Research:

Market Key Players:

• ContinuumRx 
• BioScrip Inc. 
• BriovaRx Inc.
• CareCentrix Inc. 
• Coram LLC
• Medical Services of America Inc. 
• Cleveland Clinic
• Option Care Enterprises Inc. 
• Allina Health 
•  ICU Medical Inc.

Key Vendors:

1.ContinuumRx:It is a healthcare systems and their providers to improve post acute-care coordination and care management, to help reduce gaps in patient care, to enhance the overall patient experience, and to help our provider partners improve their overall financial performance. We provide home infusion therapies and services to hundreds of patients each month and support them in their care and recovery through all phases of the healthcare continuum.

2.BioScrip Inc.: It is the largest independent national provider of infusion and home care management solutions.BioScrip partners with physicians, hospital systems, payors, pharmaceutical manufacturers and skilled nursing facilities to provide patients access to post-acute care services. BioScrip operates with a commitment to bring customer-focused pharmacy and related healthcare infusion therapy services into the home or alternate-site setting. By collaborating with the full spectrum of healthcare professionals and the patient, BioScrip provides cost-effective care that is driven by clinical excellence, customer service, and values that promote positive outcomes and an enhanced quality of life for those it serves.

3.CareCentrix Inc.: It is a leader in managing care to the home. CareCentrix provides optimal access to quality home care for more than 19 million lives by connecting providers with patients and helping them navigate the complex home care system. CareCentrix’s extensive range of services provides support and coordination for patients and their families in every step of the healing process, including home health, durable medical equipment (DME), home infusion, sleep management and care management services, which ultimately improve care transitions and reduce unnecessary readmissions and emergency room visits.

4.Medical Services of America Inc.: It is a comprehensive home healthcare provider that offers home healthcare, hospice service, home medical equipment, diabetic supply, enteral nutrition, respiratory services, non-medical home care, personal emergency response, cardio diagnostics, home pharmacy/infusion therapy and physician management. Medical Services of America began with a unique concept, "total home health care,"? and its expansion has been guided with that concept in mind. Every area of service is managed and staffed by qualified professionals, trained and experienced in their respective fields. All offices are company owned, not franchised, to ensure the highest quality of home care services.

5.Cleveland Clinic:It is a not-for-profit, multispecialty academic medical center that integrates clinical and hospital care with research and education.Cleveland Clinic health system includes eight regional hospitals, 16 family health centers, a children's hospital for rehabilitation and one affiliate hospital. Cleveland Clinic is accredited by The Joint Commission, the nation’s largest accreditor of healthcare organizations.All of our hospitals, family health centers, outpatient clinics and home healthcare programs are also accredited by The Joint Commission under its hospital accreditation program.

By Type:

• Intravenous set
• Needleless catheter
• Infusion pump

Intravenous set is a medical device used to administer fluids, medication, or blood products into a vein. It consists of a flexible tube, a needle or catheter, and a drip chamber. The tube is connected to a bag or bottle of fluid, and the needle or catheter is inserted into the vein. The drip chamber allows air to escape from the line and helps to regulate the flow of fluid.
Needleless catheter is a medical device that is used to administer fluids, medication, or blood products into a vein without the use of a needle. It consists of a flexible tube with a sharp tip that is inserted into the vein. The tube is then connected to a bag or bottle of fluid. Needleless catheters are less painful than needles and can reduce the risk of infection.
Infusion pump is a medical device that is used to deliver fluids, medication, or blood products at a controlled rate. It consists of a pump, a controller, and a display. The pump is responsible for delivering the fluid, the controller is used to set the rate of delivery, and the display shows the current rate of delivery. Infusion pumps are used in hospitals, clinics, and in the home to deliver medications and fluids to patients.

By Application:

• Chemotherapy
• Diabetes
• Hydration therapy
• Inotropic therapy
• Pain management
• HIV therapies
• Post-transplant therapies
• Total parenteral nutrition
• Hemophilia therapies
• Others

Chemotherapy: Chemotherapy is the use of drugs to kill cancer cells. It is often given intravenously because it allows the drugs to be delivered directly into the bloodstream, where they can reach cancer cells throughout the body.
Diabetes: Diabetes is a condition that affects the way the body regulates blood sugar. Intravenous therapy can be used to deliver insulin, which is a hormone that helps to control blood sugar levels.

Based on Region:

North America: North America is the largest market for home infusion therapy services, accounting for over 35% of the global market. This is due to the region's high prevalence of chronic diseases, such as cancer and diabetes, and the increasing demand for home-based care.
Europe: Europe is the second largest market for home infusion therapy services, accounting for around 25% of the global market. This is due to the region's aging population and increasing awareness of the benefits of home infusion therapy.
Asia Pacific: Asia Pacific is the third largest market for home infusion therapy services, accounting for around 20% of the global market. This is due to the region's large population and growing middle class, which are driving demand for home infusion therapy.
Latin America: Latin America is the fourth largest market for home infusion therapy services, accounting for around 10% of the global market. This is due to the region's increasing prevalence of chronic diseases and the rising demand for home-based care.
Middle East and Africa: Middle East and Africa is the smallest market for home infusion therapy services, accounting for around 5% of the global market. However, this market is expected to grow at a rapid pace in the coming years, due to the region's rising disposable income and increasing urbanization.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Dynamics

The home infusion therapy services market is a dynamic market, with new products and technologies being introduced on a regular basis. This is driving the growth of the market, as consumers are increasingly looking for innovative and functional home infusion therapy services.

Restraints

There are a few restraints that are limiting the growth of the home infusion therapy services market. These include:

• High cost of services: Home infusion therapy services can be expensive, which can be a barrier for some patients.
• Complexities of administration: Home infusion therapy services can be complex to administer, which requires specialized training.
• Risk of infection: There is a risk of infection associated with home infusion therapy services, which can be serious.

Drivers

The main drivers of the home infusion therapy services market include:

• Increasing prevalence of chronic diseases: The global prevalence of chronic diseases, such as cancer, diabetes, and heart disease, is increasing. These diseases often require long-term medication or fluid therapy, which can be delivered through home infusion therapy.
• Rising demand for home-based care: The demand for home-based care is increasing due to the rising cost of healthcare and the preference of patients to receive care in the comfort of their own homes. Home infusion therapy can be delivered in the home, which makes it a convenient option for patients and their families.
• Increasing number of elderly people: The global population of elderly people is increasing. Elderly people are more likely to have chronic diseases that require long-term medication or fluid therapy. This is driving the demand for home infusion therapy.

Trends

Some of the key trends in the home infusion therapy services market include:

• The rise of telehealth: Telehealth is the use of technology to provide healthcare services remotely. This is becoming increasingly popular in the home infusion therapy services market, as it allows patients to receive care from home without having to travel to a clinic or hospital.
• The increasing use of mobile devices: Mobile devices are becoming increasingly popular, and this is also having an impact on the home infusion therapy services market. Patients can now use mobile devices to track their treatments, communicate with their healthcare providers, and access educational resources.
• The development of new technologies: There are a number of new technologies being developed that have the potential to revolutionize the home infusion therapy services market. These include wearable devices that can monitor patients' vital signs and provide real-time feedback to healthcare providers, and smart infusion pumps that can be programmed to deliver medications at specific times and rates.

Challenges

The home infusion therapy services market faces a number of challenges, including:

• Regulatory compliance: Home infusion therapy services are subject to a number of regulations, which can make it difficult for businesses to operate in this market.
• Competition: The home infusion therapy services market is a competitive market, with a number of large and well-established businesses operating in this space.
• Lack of awareness: There is still a lack of awareness about home infusion therapy services among some patients and healthcare providers.

Opportunity

Despite the challenges, the home infusion therapy services market offers a number of opportunities for businesses. These include:

• The growing demand for home-based care: The demand for home-based care is expected to continue to grow in the coming years, which will create opportunities for businesses that offer home infusion therapy services.
• The development of new technologies: The development of new technologies, such as wearable devices and smart infusion pumps, will create new opportunities for businesses that offer home infusion therapy services.
• The increasing awareness of home infusion therapy services: As more patients and healthcare providers become aware of the benefits of home infusion therapy services, the demand for these services is expected to grow.

Scope of report :

Report Attribute	Details
Study Period	2017-2030
Base Year	2022
Estimated year	2023
Forecast period	2022-2030
Historic Period	2017-2022
Units	USD 61.7 Billion
Growth Rate	CAGR of  7.9% from 2023 to 2030
By Type	Intravenous set Needleless catheter Infusion pump
By Application	Chemotherapy Diabetes Hydration therapy Inotropic therapy Pain management HIV therapies Post-transplant therapies Total parenteral nutrition Hemophilia therapies Others
By Companies	ContinuumRx  BioScrip Inc.  BriovaRx Inc. CareCentrix Inc.  Coram LLC Medical Services of America Inc.  Cleveland Clinic Option Care Enterprises Inc.  Allina Health   ICU Medical Inc.
Regional Scope	North America Europe Asia-Pacific The Middle East & Africa Latin America
Reasons to Purchase this Report and Customization Scope	6-month post-sale analyst assistance. 10% Free Customization and 15 Company Profiles in addition to the ones specified

Conclusion:
                  In conclusion, the home infusion therapy services market is witnessing steady growth due to increasing demand for home-based care, advancements in infusion technology, expanding therapy options, cost-effectiveness, an aging population, supportive regulations, and collaborations across the healthcare ecosystem. With a focus on patient education and safety, the market is expected to continue expanding, providing patients with greater access to high-quality, personalized care in the comfort of their homes.