Using a needle or catheter to administer medication outside of a hospital or other medical facility is known as home infusion. Pharmacists, nurses, and other medical personnel with specialized expertise in administering infusion drugs provide support to individuals requiring infusion therapy. Medication administered at home or at a location other than an institution cuts down on the amount of time patients must spend away from regular activities like job, school, and hobbies in order to complete therapy. For a variety of treatments and illness conditions, both acute and chronic, home infusion is a secure and efficient substitute for hospitalization. Many patients find that getting their treatment in an infusion suite or at home is more convenient than staying in a hospital. As evidence of enhanced clinical results and quality-of-life benefits for home infusion patients mounts, the number of treatments available at home keeps expanding.
The National Home Infusion Foundation (NHIF) Infusion Industry Trends 2020 research states that the $19 billion home and specialty infusion market serves over 3.2 million patients yearly.
United States Home Infusion Therapy Market Growth Opportunities
The rising incidence of conditions including diabetes, cancer, chronic pain, and gastrointestinal illnesses is also anticipated to drive the expansion of the United States home infusion therapy market.According to the CDC, there are 38.4 million Americans who have diabetes, or 11.6% of the overall population.
The National Institutes of Health (NIH) projects that there will be 609,820 cancer deaths and 1,958,310 new cancer cases in the US in 2023.
Chronic pain is quite persistent. Nearly two-thirds (61.4%) of individuals who reported having it in 2019 still did so a year later. The frequency of new instances of chronic pain was high, at 52.4 cases per 1,000 people annually. The rate at which chronic pain progressed to HICP was 190 cases/1,000 per year, and 361 cases/1,000 per year of those who had first reported HICP were still experiencing symptoms a year later, according to the NIH.
Home infusion therapy is more affordable than hospital treatment because it saves patients money by avoiding hospital stays. Due to this, there is a greater need for at-home therapy, which fuels United States home infusion therapy market expansion.
According to a National Home Infusion Foundation article, a cost analysis of a home infusion anti-infective program revealed that, in comparison to hospital costs, the savings per home infusion patient was $40,460. The price of anti-infective infusions for home and inpatient use and found that the former cost $122 per day, while the latter cost $798. When comparing the costs of inotropic therapy for infusion at home versus inpatient settings, it was found that home infusions saved patients between $71,300 and $120,500.
According to a study published in the Journal of General Internal Medicine, patients who receive care at home incur 52% less in medical expenses than those who stay overnight in a hospital.
The home US infusion therapy market is being driven by technological advancements that are essential in simplifying the administration of complex therapies at home. Healthcare professionals can closely monitor a patient's progress without making frequent in-person visits due to portable infusion pumps and remote monitoring capabilities.
United States home infusion therapy market may be dominated by the anti-infective category
Intravenous antibiotic and anti-infective homecare administration is a quickly expanding healthcare system service. Antibiotics, antivirals, and antifungals are examples of anti-infective treatments. Intravenous home anti-infective therapy (HIVAT) is now a well-recognized treatment modality. Economic cost-benefit assessments offer a wealth of facts regarding cost effectiveness from a societal perspective.United States Home Infusion Therapy Industry News
Baxter International Inc., Becton Dickinson and Company, Eli Lilly & Company, Fresenius SE & Co. KGaA, ICU Medical Inc., Option Care Health Inc., Terumo Corporation are among the important players in the United States Home Infusion Therapy Industry.In January 2024 - Members now have better access to specialist medication thanks to Elevance Health's acquisition of Paragon Healthcare, a supplier of infusion therapy.
In September 2023 - The Worldwide Home Care subsidiary of Sodexo has agreed to be acquired by The Halifax Group.
In September 2023 - Virginia Oncology Associates (VOA) and Fresenius Kabi have announced their agreement for VOA to buy an Ivenix Infusion System so that VOA can provide medication to its patients. VOA focuses on treating patients with blood diseases and cancer by giving them access to cutting-edge treatments and technologies.
In September 2022 - Baxter rejoiced when the FDA approved its stylish Novum IQ syringe infusion pump, which is outfitted with Dose IQ Safety Software and represents a significant advancement in infusion therapy.
By Application - Market is broken up into 8 viewpoints:
1. Anti-Infective2. Endocrinology
3. Hydration Therapy
4. Chemotherapy
5. Enteral Nutrition
6. Parenteral Nutrition
7. Specialty Pharmaceuticals
8. Others
By Product - Market is broken up into 4 viewpoints:
1. Infusion Pumps2. Intravenous Sets
3. IV Cannulas
4. Needleless Connectors
By States - Market is broken up into 29 viewpoints:
1. California2. Texas
3. New York
4. Florida
5. Illinois
6. Pennsylvania
7. Ohio
8. Georgia
9. New Jersey
10. Washington
11. North Carolina
12. Massachusetts
13. Virginia
14. Michigan
15. Maryland
16. Colorado
17. Tennessee
18. Indiana
19. Arizona
20. Minnesota
21. Wisconsin
22. Missouri
23. Connecticut
24. South Carolina
25. Oregon
26. Louisiana
27. Alabama
28. Kentucky
29. Rest of United States
All companies have been covered from 3 viewpoints:
- Overview
- Recent Development
- Revenue
Company Analysis:
1. Baxter International Inc.2. Becton Dickinson and Company
3. Eli Lilly & Company
4. Fresenius SE & Co. KGaA
5. ICU Medical Inc.
6. Option Care Health Inc.
7. Terumo Corporation
Table of Contents
Companies Mentioned
- Baxter International Inc.
- Becton Dickinson and Company
- Eli Lilly & Company
- Fresenius SE & Co. KGaA
- ICU Medical Inc.
- Option Care Health Inc.
- Terumo Corporation
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 215 |
| Published | May 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 9.5 Billion |
| Forecasted Market Value ( USD | $ 19.06 Billion |
| Compound Annual Growth Rate | 8.0% |
| Regions Covered | United States |
| No. of Companies Mentioned | 7 |
