Home Infusion Therapy Industry
The global home infusion therapy market was valued at USD 35.96 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2030. Home infusion therapy refers to the delivery of therapeutic treatments, medications, or fluids directly into a patient’s bloodstream through intravenous (IV) infusion, typically in the convenience of their own home. This method of treatment is becoming increasingly popular due to several key factors. One major driver is the expanding geriatric population, which is often characterized by limited mobility and a preference for receiving care at home. Additionally, technological advancements are making home infusion therapy safer and more efficient.
Infusion therapy, including IV therapy and IV hydration therapy, is critical in treating conditions such as immune deficiencies, cancer, and congestive heart failure, where oral medications are not effective. As long-term treatment becomes more common for many patients, home infusion therapy has emerged as a cost-effective alternative to hospital-based care. The use of IV therapy and IV hydration therapy allows patients to access effective, personalized medical solutions in the comfort of their homes, further driving market growth.
The COVID-19 pandemic had a significant impact on the home infusion therapy market, with the therapy becoming a vital necessity as healthcare facilities were overwhelmed with COVID-19 patients. Despite operational challenges and supply chain disruptions caused by regional and nationwide lockdowns, the market saw substantial growth in 2020. For instance, Medtech Dive reported that Baxter’s third-quarter sales in 2020 reached USD 2.97 billion, reflecting a 4% growth due to the increasing demand for COVID-related medical products. By Q3 2021, Baxter’s operational sales had grown by 6%, reaching USD 3.2 billion compared to USD 3.0 billion in Q3 2020, highlighting the market’s recovery and continued growth post-pandemic.
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Product Insights
The infusion pumps segment held the largest revenue share of over 51.3% in 2023.
- Infusion pumps are designed for the controlled delivery of fluids, medications, and nutrients. While these devices were initially limited to use in healthcare facilities, they are now widely adopted in outpatient and home care settings.
- Infusion pumps ensure precision in medication delivery, significantly reducing the risk of medication errors.
- The growing demand for home healthcare has fueled the use of syringe and ambulatory pumps, which are essential in these settings.
- Smart pumps equipped with barcode technology enhance patient identity verification, reducing the risk of incorrect medication administration.
- These smart pumps also issue alerts to healthcare workers if an inappropriate dosage is selected, improving patient safety.
- The introduction of advanced infusion pumps, such as the CADD-Solis ambulatory infusion pump by Smiths Medical, is expected to further drive market growth in the coming years.
The needleless connectors segment is expected to register the highest compound annual growth rate (CAGR) during the forecast period.
- Needleless connectors are small devices used in intravenous (IV) systems to reduce the risk of needlestick injuries, thus preventing bacterial contamination and enhancing patient safety.
- These connectors are evaluated based on factors such as interstitial surface mechanisms, blood reflux, visibility, and external surface mechanisms.
- Needleless connectors facilitate smoother operations, improve safety standards, and help healthcare professionals adhere to best clinical practices.
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