Home Infusion Therapy Market Size Is Expected To Reach USD 38.7 Billion By 2026

The global home infusion therapy market size is expected to reach USD 38.7 billion by 2026 registering a CAGR of 7.2% from 2019 to 2026, according to a new report by Radiant Insights, Inc. Rapid technological advancements are some major factors contributing to the market growth. Home infusion is gradually being considered as an alternative to extended stay in hospitals or nursing homes for patients suffering from chronic diseases. With the administration of medications in home settings, patients recover faster, are more comfortable, and save money. Several government and non-government programs aimed at reducing the burden of hospital stays by establishing infusion centers that provide quick IV infusion services are likely to have a positive impact on the market.

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Furthermore, favorable government policies and regulations are expected to propel the industry growth. In addition, rising prevalence of diseases, such as Cardiovascular Diseases (CVDs), cancer, diabetes, and other life-threatening conditions, is expected to be a high impact rendering driver for the market. According to the WHO, at present, all the aforementioned diseases account for 60% of total deaths and 43% of the disease burden in U.S. This creates the need to infuse nutritional products that contain glutamine, phospholipids, glucose, and amino acids, which in turn, is expected to boost the market growth in the region.

Further key findings from the study suggest:

• Infusion pumps led the product segment in 2018 owing to their extensive use for the delivery of fluids, such as medications and nutrients, during infusion therapy

• Needleless connectors is the fastest-growing product segment over the forecast period. These devices provide protection from needlestick injuries

• Anti-infective segment held the largest share in 2018 owing to a large number of procedures performed for administering antibiotics and antifungals

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• The chemotherapy segment is expected to witness lucrative growth during the forecast period on account of initiatives undertaken pertaining to cancer treatment, such as development of infusion centers by the Cancer Treatment Centers of America

• The market is highly competitive and is marked by the presence of key companies, such as B. Braun Melsungen AG; ICU Medical, Inc.; Baxter; Fresenius Kabi AG; Caesarea Medical Electronics; Terumo Corporation; CareFusion Corporation; JMS Co. Ltd.; and Smiths Medical

• Most of these companies focus on new product development to maintain their position in the global home infusion therapy market