Home Infusion Therapy Market to Reach $54.82 Bn by 2028; Expanding Geriatric Population & Chronic Disease Prevalence to Fuel Market Growth

The global home infusion therapy market size is projected to showcase immense growth by reaching USD 54.82 billion by 2028. Fortune Business Insights^TM has presented this information in its report titled “Home Infusion Therapy Market Size, Share & COVID-19 Impact Analysis, By Product (Devices, Drugs, and Services), By Indication (Anti-Infective, Chemotherapy, Hydration Therapy, Enteral Nutrition, Total Parenteral Nutrition, Immunoglobulin Therapy, and Others), and Regional Forecast, 2021-2028”, and observes that the market size stood at USD 41.36 billion in 2020  and is anticipated to reach USD 34.54 billion in 2021. It is predicted to exhibit a CAGR of 6.8% between 2021 and 2028. The market’s growth is ascribable to the expanding geriatric population and the growing chronic disease prevalence.

CVS Health’s Collaboration with the Cancer Treatment Centers of America (CTCA) to Incite Development

In January 2021, CVS Health and the Cancer Treatments Centers of America (CTCA) collaborated to augment the access to chemotherapy at home for qualified patients. The therapy requires trained professionals and the Coram infusion model in chemotherapy. The initiative is being carried out in Atlanta and is designed to lessen the COVID-19 infection risks while improving the results for qualified patients. The partnership is crucial for at-home cancer care in the U.S. The initiative is expected to lay the groundwork for cancer care at home in the future.

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Rising Chronic Disease Prevalence to Amplify Market Growth

In recent years, chronic diseases including cancer, congestive heart failure, chronic immune deficiencies, diabetes, and others have increased manifold. The World Health Organization (WHO) estimates that around 40% of the country’s populace experiences chronic diseases, approximately 133 million. Hence, the increasing chronic disease prevalence is anticipated to bolster the global home infusion therapy market growth. Moreover, the expanding geriatric population is likely to complement the market’s growth.

Key Players Collaborate to Enhance their Market Reach

The market is fairly consolidated and comprises Baxter, Option Care Health Inc., Optum inc., and others as the top market players. They emphasize the development of innovative infusion pumps. They focus on the expansion of their geographical footprints domestically and internationally. To enhance their market reach, the key players adopt ingenious growth strategies such as new product launches, patents, technological developments, mergers, acquisitions, and others. For instance, Option Care Enterprise Inc. collaborated with BioScrip Inc. to establish a new firm, Option Care Health Inc., in August 2019. It became the largest independent, alternate site and home infusion service provider in the U.S.

Industry Developments-

• January 2021: CVS Health and the Cancer Treatments Centers of America (CTCA) collaborated to augment the access to chemotherapy at home for qualified patients. The therapy requires trained professionals and the Coram infusion model in chemotherapy.

List of Key Players in the Global Market:

• Option Care Health Inc. (Illinois, U.S.)
• Optum, Inc. (Eden Prairie, U.S.)
• CareCentrix Inc. (Hartford, U.S.)
• CVS Health (Woonsocket, Rhode Island, U.S.)
• KabaFusion (Cerritos, U.S.)
• PromptCare (New Jersey, U.S.)
• Baxter International Inc. (Deerfield, U.S.)
• Infusystem (Michigan, U.S.)

Further Report Findings-

• The market size in North America stood at USD 16.90 billion in 2020 and is predicted to attain the largest global home infusion therapy market share. Key players present in the region are likely to stimulate the market growth significantly. The swift adoption of home infusion therapy is likely to boost the growth of the market.
• According to the segmentation based on product, the drugs segment is anticipated to attain the highest growth in the global market. The rising prevalence of several immune diseases and cancer are expected to boost the segment’s growth. Moreover, the strong infused drug pipeline is predicted to complement the market’s growth.

Table of Segmentation-