Increasing Prevalence of Chronic Diseases to Augment the Home Infusion Therapy Market Growth

 

Home infusion therapy services offer innovative healthcare services at the doorstep. Home therapy administers drug through the catheter or needle. It is used when the patient's condition is very severe and cannot be cured with oral medication, as well as the infusion is needed multiple times in a day. Home infusion therapy involves the direct intravenous or subcutaneous injection of biologicals or medications into a patient at home.

The substances contained in home drugs include the usual medical ingredients such as antivirals, pain relievers, and digestive aid, however, other materials such as fats, sugar, and herbs are also used. Rheumatoid arthritis, multiple sclerosis, immune deficiencies, hemophilia, Crohn's disease, congestive heart failure, gastrointestinal disorders, dehydration, and cancer and cancer-related pain are some of the diseases that need infusion therapies.

Market Dynamics:

Increasing incidence/prevalence of chronic diseases such as diabetes, cancer, and heart diseases is expected to propel the home infusion therapy market over the forecast period. Heart disease is the leading cause of death in the United States. According to the Centers for Disease Control and Prevention (CDC), a person dies of heart disease every 36 seconds in the United States.

Increasing geriatric population, increasing preference for home healthcare, and rising need to reduce hospital stay is expected to drive growth of the home infusion therapy market. For instance, in 2018, almost 36 million hospital admissions were registered in the United States, according to the American Hospital Association.

The emergence of COVID-19 is expected to offer substantial growth opportunities to players active in the prebiotics market. According to the World Health Organization, worldwide, as of 9:38am CET, 8 January 2021, there have been 86,436,449 confirmed cases of COVID-19, including 1,884,341 deaths.

Increasing adoption of inorganic growth strategies such as investments by key players are also expected to fuel the home infusion therapy market growth. For instance, in 2019, Nipro Corp. invested US$ 21 million in a medical devices company, JMI Syringes & Medical Devices Ltd., to expand its disposable syringe portfolio.

Competitive Analysis:

Major players active in the home infusion therapy market are Becton, Dickinson and Company, B. Braun Melsungen AG, Nipro Corporation, ICU Medical, Inc., Baxter International Inc., Terumo Corporation, Amedisys, Smiths Medical, Fresenius Kabi AG, Eli Lilly and Company, JMS Co.Ltd., Option Care Health, and NewIV Medical, Inc.

Major players operating in the market are adopting various strategies such as collaboration and partnership to enhance their market share. For instance, in January 2021, Amedisys, a home health care services company, teamed up with Option Care Health, the home- and alternate-site infusion services provider in the U.S.