Global Home Infusion Therapy Market Report 2021: Growth, Trends, COVID-19 Impact, and Forecasts to 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Home Infusion Therapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The home infusion therapy market was valued at USD 20,976 million in 2020 and it is expected to reach USD 31,415 million by 2026, registering a CAGR of 6.5% during the forecast period.

As cases of COVID-19 had been increasing in the year 2020, the use of alternate site solutions rose in high-demand, and home and specialty infusion providers played a critical role in supporting patients. In April 2020, the American Society of Clinical Oncology (ASCO) issued guidelines for the infusion therapies for hospital and home infusion services, in order to ensure the safety of patients.

The American Society of Clinical Oncology (ASCO) reported that there may be rare circumstances of risks with home infusion therapies that could need immediate medical necessities. In these highly unusual situations, the increased risk of a home infusion may be outweighed by the risks associated with the lack of access to biologic therapy.

The growth of the market is attributed to improved patient outcomes, cost-efficiency, and patient convenience provided by home infusion therapy. The growing number of baby boomers suffering from decreased mobility profiles such as osteoarthritis, diabetes will boost the demand for home infusion therapy. According to the Department of Economic and Social Affairs, there are more than 250 million older people experience moderate to severe disability.

Moreover, a rising preference for home care is expected to have a positive impact on the demand for home infusion products and services. The increasing user-friendliness of new generation infusion pumps has also been driving their usage in-home care settings. Most of the infusion pumps designed for home care are lightweight, mobile, and easy-to-use so that patients can also operate the pumps by themselves if needed.

The rising need to reduce the duration of inpatient stays is anticipated to fuel the market development. According to the American Hospital Association, around 36,241,815 hospital admissions were there in all the US hospitals during the year 2019. This has encouraged the development of strategies for the administration of infusion therapy at home or alternate healthcare settings which will is also likely to contribute to the market growth.

While hospitals have rapidly adopted smart infusion pumps with interesting features, such as EHR integration, drug libraries, and medication safety software, most home infusion providers continue to use traditional infusion pumps. However, there has been a growing trend for up-gradation of equipment owing to its increasing demand, especially in the developed countries.

Furthermore, extensive application in delivering fluids containing medications and nutrients-controlled dosages is expected to propel the market growth. The advent in technology such as CADD-Solis Ambulatory Infusion Pump by Smiths Medical, catering to the requirements of home care like portable and user-friendly pumps, is also anticipated to fuel the market development. However, the high cost associated with the infusion pumps may hamper business growth during the forecast period.

Key Market Trends

Anti-infective Therapy Dominates the Home Infusion Therapy Market

The anti-infective therapy segment is expected to dominate the global home infusion therapy market through the forecast period. Anti-infective therapy is one of the most prescribed home infusion therapies. Though there are few risks intrinsic to such therapy they can be reduced by a team approach, coupled with careful patient selection criteria, a structured follow-up process, and an emphasis on patient education.

Competitive Landscape

The market for home infusion therapy is highly competitive and consists of global as well as local players. Due to the technological advancements, small and mid-sized companies are focusing on market penetration to grab the market share.

The major players in the market include B. Braun Melsungen AG, ICU Medica, Becton Dickinson and Company, Option Care Health Inc., and CareCentrix Inc.

Companies Mentioned

• B. Braun Melsungen AG
• Baxter International
• Becton Dickinson and Companies
• Catholic Health Initiatives
• Community Surgical Supply?
• Eli Lilly and Company
• Fresenius Kabi
• ICU Medical Inc.
• McKesson Medical-Surgical Inc.?
• McLaren Health Care
• Nipro Corporation
• Option Care Health Inc.
• Smiths Medical
• Sutter Health
• Terumo Corporation

For more information about this report visit https://www.researchandmarkets.com/r/gwam8h