Dublin, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The "United States Home Infusion Market, Size, Global Forecast 2023-2027, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
United States Home Infusion Market will reach US$ 20.6 Billion by 2027
Home infusion is a clinically suitable treatment option for patients with a wide array of chronic and acute conditions, ranging from bacterial infections to progressively complex conditions like immune deficiencies, nutrition support, bleeding disorders, and late-stage heart failure.
Home infusion can afford patients liberty and better quality of life since it is offered in the comfort of the patient's home, effectively fitting their needs. It also gives better outcomes, provides enhanced safety, and is cost-effective.
The increasing geriatric population susceptible to chronic diseases and rising prevalence of urinary tract infections will boost the market growth:
The rapidly growing old-aged population in the United States is one of the main drivers of market growth. For instance, according to data issued by the United States Department of Health and Human Services, there are more than 49.2 million individuals above 65 years of age across the country.
Moreover, the number of graying Americans has risen by around 33% over the past decennium. Therefore, as home infusion therapy aids in managing chronic conditions of the elderly populace, the market will witness significant growth in the future.
According to a recent news article, urinary tract infections contribute to about 6 million patient visits to physicians each year in the United States Thus, a large patient pool requiring home infusion therapy will generate high demand over the analyzed period. In addition, the acceptance of new technologies in the home infusion therapy market will support the industry's growth.
United States Home Infusion Market is expected to grow with a CAGR of 7.88% from 2022 to 2027
Amongst other segments, an infusion pump holds a significant share in 2022. This can be attributed to their efficiency and increasing use in delivering medications, nutrition, and other required fluids in required amounts.
Needleless connectors is anticipated to be the fastest-growing segment over the forecast period owing to various benefits, such as higher protection against needlestick injuries and less risk of bacterial contamination. In addition, needleless connectors reduce the risk of Healthcare Associated Bloodstream Infections. Owing to these features, the demand for needleless connectors is predicted to augment over the forecast period.
Based on Indication, the U.S. home infusion therapy market is categorized into Anti-infective, Chemotherapy, Hydration Therapy, Enteral Nutrition, Parenteral Nutrition, Immunoglobulins, and Others. Hydration therapy provides several benefits, such as boosting immunity and reduced recovery time. It also improves cognitive functions, flushes toxins from the body, is efficient, it tends to strengthen joint, skin, and muscle health.
COVID-19 Impact on U.S. Home Infusion Therapy Market:
The COVID-19 pandemic has positively impacted the Industry. The U.S. Key players reported a significant growth in revenues from services, devices, and drugs, owing to the considerable increase in patients receiving infusion therapy at home during COVID-19 restrictions. For instance, Option Care Health, Inc. generated USD 3,302.6 million in 2020 and witnessed a 30.1% increase in its revenue in 2020 compared to 2019. The growth was attributable to increased demand for its home infusion therapy services.
Furthermore, In October 2020, the Centers for Medicare & Medicaid Services (CMS) announced a proposed rule broadening coverage for home infusion Durable Medical Equipment (DME), specifically for external infusion pumps, to increase access to home infusion drugs.
Moreover, with the COVID-19 outbreak, home-infusion solutions have become more critical than ever, allowing patients to remain in their homes, thereby decreasing the risk of exposure. Hence, various local infusion service providers witnessed a surge in demand for home-based services.
CVS Health, Becton, Dickinson and Company, Smith & Nephew plc, Terumo Corporation, ICU Medical, Moog, and InfuSystems Holdings are the leading competitors in the U.S. home infusion therapy market. Further, these organizations employ various techniques to drive their company portfolio worldwide, including innovative product releases and R&D.
Becton, Dickinson and Company
Smith & Nephew plc
Key Topics Covered:
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
5. United States Home Infusion Therapy Market
6. Market Share - United States Home Infusion Therapy Market
6.1 By Product
6.2 By Product Type
6.3 By Indication
6.4 By Zone
7. Product - United States Home Infusion Therapy Market
7.1 Home Infusion Device
7.2 Home Infusion Drugs
7.3 Home Infusion Services
8. Product Type - United States Home Infusion Therapy Market
8.1 Infusion Pump
8.2 Intravenous Sets
8.3 IV Cannulas
8.4 Needleless Connectors
9. Indication - United States Home Infusion Therapy Market
9.3 Hydration Therapy
9.4 Enteral Nutrition
9.5 Parenteral Nutrition
10. Zone - United States Home Infusion Therapy Market
10.1 East North Central
10.2 West South Central
10.3 South Atlantic
10.4 North East
10.5 East South Central
10.6 West North Centre
10.7 Pacific Central
10.8 Mountain States
11. Key Players
11.2 Recent Development
For more information about this report visit https://www.researchandmarkets.com/r/vhojnm
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