Global Home Infusion Therapy Market Opportunities And Strategies 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s home infusion therapy market report forecasts the home infusion therapy market size to grow to $40.52 Billion by 2027, with a CAGR (compound annual growth rate) of more than 9%.
Learn More On The Home Infusion Therapy Market Report 2023 – https://www.thebusinessresearchcompany.com/report/home-infusion-therapy-global-market-report
Home Infusion Therapy Market Size Forecast
The global home infusion therapy market is expected to grow from $24.99 billion in 2022 to $27.93 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The home infusion therapy market size is expected to grow to $40.52 billion in 2027 at a CAGR of 9.7%.
North America held the largest home infusion therapy market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Home Infusion Therapy Market Driver – Increase In Population And Consequent Rise In Food Demand
According to United Nations data, the world’s population is expected to grow by 2 billion people over the next 30 years, from 7.7 billion today to 9.7 billion in 2050. Furthermore, according to Intechnopen data, a London-based journal website, global food demand is expected to rise by 70% by 2050. As a result, rising population and food demand will drive the growth of the home infusion therapy market.
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Key Home Infusion Therapy Market Trend – Strategic Partnerships And Collaborations
Partnerships are being pursued by major players in the home infusion therapy sector in order to strengthen their market position. For example, in April 2022, CarepathRx, a pharmacy and medication management solutions provider based in the United States, partnered with Mount Sinai Health System, a hospital network based in the United States. This collaboration expands patient access to home infusion therapies across the Mount Sinai Health System, which includes eight hospitals and an ambulatory footprint. Furthermore, CarepathRx, a US-based pharmacy and medication management solutions provider, will collaborate with the University of Chicago Medicine (UChicago Medicine), a US-based academic medical centre, in December 2021. CarepathRx will be able to provide comprehensive home and specialty infusion services to the academic health system’s growing patient population as a result of this collaboration. It also aids UChicago Medicine’s clinical reach into the home and ambulatory setting.
Home Infusion Therapy Market Segment
1) By Product: Infusion Pumps, Intravenous Sets, IV Cannulas, Needleless Connectors
2) By Administration: Intramuscular, Subcutaneously, Epidural
3) By Application: Total Parenteral Nutrition?, Anti-infective Therapy, Enteral Nutrition, Hydration Therapy, Chemotherapy, IVIg or Specialty Pharmaceuticals, Other Applications
4) By End User: Patients, Nurse, Hospitals, Other End Users
Home Infusion Therapy Market Major Players and Strategies
Major players in the home infusion therapy market are B Braun Melsungen AG, Baxter International Inc., Eli Lilly and Company, Fresenius Kabi, Option Care Health Inc., CareCentrix Inc., Caesarea Medical Electronics, JMS Co., Ltd., Terumo Corporation, Smiths Medica, Optum Inc., CVS Health, KabaFusion, PromptCare, and Nipro Corporation.
PromptCare, a specialty home infusion and complex respiratory services company based in the United States, paid an undisclosed sum for NBN Infusions Inc. in March 2021. PromptCare hopes to strengthen its focus on specialty infusion therapies through this acquisition. NBN Infusions Inc is a health care service provider based in the United States that offers home infusion therapy, enteral therapy, and respiratory therapy.
The Home Infusion Therapy Global Market Report 2023 covers regional data on home infusion therapy market size, home infusion therapy market trends and drivers, opportunities, strategies, and home infusion therapy market competitor analysis. The countries covered in the home infusion therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Home infusion therapy is the process of administering biologicals or drugs to a patient at home via subcutaneous or intravenous infusion. Medication can be administered to patients via catheters or needles, directly into their veins or under their skin. Home infusion therapies are used to treat patients at their homes.
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