The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Home Infusion Therapy Global Market Report 2024, the home infusion therapy market is expected to show significant growth in the forecast period.

The home infusion therapy market has experienced rapid growth, reaching $28.68 billion in 2023 and projecting a rise to $31.95 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 11.4%. This surge in the historic period is attributed to the increased aging population, rise in patient preference, the surge in chronic diseases, and the inclination towards hospital avoidance.

Future Projections

An Upward Trajectory

The home infusion therapy market is poised for substantial growth in the coming years, with an anticipated increase to $47.43 billion in 2028, boasting a CAGR of 10.4%. This expansion in the forecast period is fueled by rising telehealth integration, an emphasis on personalized medicine, pandemic preparedness, patient empowerment, and the growing prevalence of value-based care models.

Emerging Trends
Key trends in the forecast period encompass the utilization of advanced infusion devices, the prominence of biologic and specialty drugs, the growth of pediatric home infusion, a focus on infusion pump safety, and the importance of patient education and training.

Catalysts for Growth

1. Global Population and Food Demand

The growing global population and the subsequent increase in food demand are anticipated to be significant drivers for the growth of the home infusion therapy market. As the world’s population is expected to reach 9.7 billion by 2050, the demand for food is projected to increase by 70%. This surge in population and food demand is closely linked to the need for home infusion therapy, especially among the aging population who rely on these therapies. The crucial connection between food and patients undergoing home infusion therapy underlines the pivotal role of this market in sustaining health and well-being.

2. Major Market Players

Prominent companies in the home infusion therapy market include B. Braun Melsungen AG, Baxter International Inc., Eli Lilly and Company, and others. These entities play a vital role in providing essential infusion therapy services, contributing to the market’s growth.

Strategies for Evolution

Innovation and Product Diversification

Leading companies in the market are prioritizing innovation by introducing compact infusion systems. The Avoset Infusion Platform, launched by Eitan Medical Ltd., is a prime example. This connected, multi-therapy ambulatory infusion system is designed to revolutionize post-acute care and specialty infusion therapy. With features like remote monitoring capabilities and integration with the AvosetGo app, it aims to enhance the user experience, improve patient outcomes, and promote comfort and independence throughout the treatment cycle.

Strategic Acquisitions: PromptCare and NBN Infusions Inc.

In March 2021, PromptCare, a US-based specialty home infusion, and complex respiratory services company, acquired NBN Infusions Inc., fortifying its focus on providing specialty infusion therapies. This strategic move aimed at expanding PromptCare’s service portfolio in home infusion therapy, enteral therapy, and respiratory therapy services.

Market Segmentation

The home infusion therapy market is segmented based on product, administration, application, and end-user:

1. Product: Encompassing Infusion Pumps, Intravenous Sets, IV Cannulas, Needleless Connectors.
2. Administration: Covering Intramuscular, Subcutaneously, Epidural.
3. Application: Including Total Parenteral Nutrition, Anti-infective Therapy, Enteral Nutrition, Hydration Therapy, Chemotherapy, IVIg or Specialty Pharmaceuticals, and Other Applications.
4. End-User: Targeting Patients, Nurses, Hospitals, and Other End Users.

Regional Dominance

North America took the lead as the largest region in the home infusion therapy market in 2023. However, Asia-Pacific is anticipated to be the fastest-growing region in the forecast period, highlighting the global reach and potential of home infusion therapies.

In conclusion, the home infusion therapy market is on a trajectory of continuous growth, driven by demographic shifts, technological innovations, and strategic advancements. As the healthcare landscape evolves, the importance of home infusion therapy in providing personalized, patient-centric care becomes increasingly evident, promising a future where individuals can receive effective treatments in the comfort of their homes.

View More On The Home Infusion Therapy Market Report 2024 – https://www.thebusinessresearchcompany.com/report/home-infusion-therapy-global-market-report

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