Pune, India, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The US Home Infusion Therapy Market size was valued at USD 17.26 billion in 2022 and projected to reach USD 33.20 billion by 2030, at a CAGR of 8.4% during the forecast period. Home infusion therapy involves delivering medications subcutaneously or intravenously to individuals in the convenience of their own homes.
These insights are sourced from the "U.S. Home Infusion Therapy Market, 2023-2030" report by Fortune Business Insights.
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Key Industry Development:
June 2021 - Infusystem Holdings Inc. signed a joint agreement with Bio Compression Systems. Unfder the agreement, Infusystem will also offer pneumatic compression devices with non-calibrated and calibrated gradient pressure, garments and certified technicians for proper fitting of the compression system.
Key Takeaways:
- The National Home Infusion Foundation (NHIF) reports that there has been a 310% increase in the home infusion industry from 2010 to 2019
- In 2020, the Penn Center for Cancer Care Innovation delivered at-home oncology treatments to 1,500 patients. The Center's goal for 2021 was to serve at least the same number of patients.
- According to information from the U.S. National Library of Medicine, there are over 280 infusion drugs in Phase I/II development
- The U.S. market is classified into devices, drugs, and services based on the product category.
Discover the Leading Players Featured in the Report:
Option Care Health Inc. (U.S.), Optum Inc. (U.S.), CareCentrix Inc. (U.S.), CVS Health (U.S.),KabaFusion (U.S.), Promptcare Respiratory (U.S.), Baxter (U.S.), InfuSystem Holdings, Inc. (U.S.), Moog Inc. (U.S.)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 8.4% |
| 2030 Value Projection | USD 33.20 billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 18.82 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 80 |
| Segments covered | By Product, Indication |
Browse Complete Report Details:
https://www.fortunebusinessinsights.com/u-s-home-infusion-therapy-market-106327
Segmentation:
The Drugs segment is expected to lead the market, driven by the increasing regulatory approvals of drugs. The market is categorized into devices, drugs, and services by product type. In 2022, the drugs segment dominated the market and is projected to experience substantial growth during the forecast period. This growth can be attributed to factors such as the high prevalence of chronic diseases, a rising number of regulatory approvals for drug products, and the elevated risk of infection in hospital settings. For instance, in June 2020, the U.S. FDA approved Phesgo for the treatment of HER2-positive breast cancer in combination with chemotherapy, which can be administered at home by qualified healthcare professionals.
In terms of indications, the U.S. market is segmented into enteral nutrition, anti-infective, chemotherapy, hydration therapy, total parenteral nutrition, immunoglobulins, and others. Among these, the enteral nutrition segment emerged as the dominant player in the U.S. home infusion therapy market in 2022, primarily due to the increasing incidence of gastrointestinal diseases and diabetes, leading to a higher demand for enteral feeding. For instance, a research article published by NCBI in July 2020 highlighted the growing popularity of home enteral nutrition (HEN) in the U.S.
By Product
- Devices
- Drugs
- Services
By Indication
- Anti-Infective
- Chemotherapy
- Hydration Therapy
- Enteral Nutrition
- Total Parenteral Nutrition
- Immunoglobulins
- Others
Driving factor:
The expansion of the market will be facilitated by the increasing aging population and rising Medicare enrollment. In the United States, the growing aging population, coupled with advancements in the healthcare sector, has led to a shift in patient care from hospitals to homes. For instance, as per the U.S. Census Bureau's Population Projections, the number of individuals aged 65 and above is expected to grow from 52 million in 2018 to 95 million by 2060, constituting a 23% share in 2060. These demographic shifts are expected to drive market growth during the analysis period.
Furthermore, data from the Medicare Payment Advisory Commission indicates that Medicare enrollment is projected to increase by 50% over the next 15 years, reaching approximately 80 million beneficiaries by 2030, up from 54 million in 2015. In 2022, more than 28 million individuals were enrolled in a Medicare Advantage plan. Additionally, the introduction of mobile and portable devices for homecare patients, along with the availability of rental and flexible payment plans to accommodate the growing trend of patients transitioning from hospitals to home infusion therapy options, will further stimulate market expansion in the coming years.
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Competitive Landscape
Anticipated market growth is attributed to the introduction of advanced products and services by industry leaders. Leading companies often engage in strategic actions like forming partnerships, engaging in mergers and acquisitions, and fostering collaborations to boost their revenue, broaden profit margins, and strengthen their market presence. A notable example of this is Avoset's launch of AvosetGO in February 2020—a cutting-edge infusion pump device featuring integrated touch screens that can be connected to and monitored through smart devices.
FAQs
How big is the US Home Infusion Therapy Market?
US Home Infusion Therapy Market size is USD 18.82 billion in 2023.
How fast is the US Home Infusion Therapy Market growing?
The US Home Infusion Therapy Market will exhibit a CAGR of 8.4% during the forecast period, 2023-2030
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Related Links:
Home Infusion Therapy Market Size, Share, Growth Industry Report.
Infusion Pump Market Share, Size, Demand, and Forecast.
India Insulin Pumps Market Size, Share, Growth Industry Report.
Veterinary Infusion Pump Market Share, Size, Demand, and Forecast.
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