North America Home Infusion Therapy Market

Market Overview

The North America home infusion therapy market is expected to reach USD 32,327 million by 2030, with a CAGR of 7.65%.

An alternative to taking medication by mouth is infusion therapy, which is how the term is defined. The infusion process involves monitoring the administration of medication with the assistance of a sterile catheter inserted into a vein.

Home infusion therapy refers to giving an individual medication or biologicals through an intravenous or subcutaneous route while they live in their residence. The medication (such as antivirals or immune globulin, for example), the necessary piece of medical equipment (such as a pump), and the necessary medical supplies

are required to carry out home infusion (for example, tubing and catheters). In a similar vein, nursing services must educate and train both the patient and the caregivers administering the infusion medications in the patient's home. Home infusion treatment frequently requires a significant contribution from visiting nurses. Typically, nurses will instruct the patient or the caregiver on how to self-administer the medication, educate the patient about the potential adverse effects of the treatment and the aims of therapy, and visit the patient occasionally to evaluate the infusion site and change the dressing. In most cases, the procedure of home infusion needs coordination among several different parties. These parties can include patients, physicians, hospital discharge planners, health plans, home infusion pharmacies, and, if necessary, home health organisations.

Market Dynamics

Drivers

Increasing preference for home therapy

Home infusion therapy has many advantages. They are more convenient, less expensive, produce better results, and adhere to higher safety standards. Home infusion therapy is less expensive than hospital treatment because it eliminates hospital stays, saving patients money. It also allows the patient to maintain a higher level of safety at home because there is less risk of hospital-acquired infections.

The growing preference of patients for home therapy is also propelling the growth of the home infusion therapy market in North America. Home healthcare helps patients with their daily activities and provides better access to skilled medical care and advanced healthcare services. Furthermore, geriatric patients with chronic diseases and individuals recently discharged from hospitals and other healthcare settings are expected to be at high nutritional risk and can benefit from home-cooked meals. These factors are presumed to drive market growth during the forecast period.

Growing developments in the home healthcare industry

Growing advancements in the in-home healthcare industry are also expected to fuel market growth in the coming years. Point-of-care (POC) diagnostics that aid in faster patient care and telehealth programmes for patients suffering from chronic disorders who require frequent admission are on the rise. In 2021, the pandemic had a positive impact on the market. As McKinsey shows, emergency room visits in the United States are down by half or more and are expected to continue declining. This prompted healthcare providers to prescribe patients home infusion treatments to remotely monitor them, which is safe for the patient and reduces the burden on a healthcare facility.

Restraints

Occupational Safety and Health (OSH) challenges in Home Health Care (HHC) work

OSH hazards in HHC include exposure to bloodborne pathogens (BBP) but are not limited to only that. It also includes demanding patient mobilisation and transfer tasks, violence and other personal safety issues, exposure to second-hand tobacco smoke, cleaning and other household chemicals, long-distance driving, and the presence of pets. OSH hazards in HHC also include, but are not limited to, exposures to cleaning and other household chemicals. Some of these dangers can be found in any health care setting; however, home-based carers often work alone in circumstances that can be very changeable and unpredictable can heighten their susceptibility to these dangers.

Regional Analysis

The North America home infusion therapy market is divided into the U.S., Canada, & Mexico based on the country. North America holds a significant share in the home infusion therapy market, owing to rising chronic disease prevalence, treatment costs, technological advancements, and product launches expected to drive regional growth. The Canadian Cancer Society claims an estimated 225,800 new cancer cases will be diagnosed in 2020, with an estimated 83,300 cancer deaths in Canada.

Furthermore, the American Cancer Society claims that for 2019, approximately 1,762,450 new cancer cases were diagnosed and 606,880 cancer deaths in the United States. Breast cancer, lung cancer, prostate cancer, colorectum cancer, bladder cancer, and skin cancer are the most common cancers in the United States.

Segmental Analysis

The North America home infusion therapy market is classified into two types: products and services.

Further, it is divided into four product categories: infusion pumps, intravenous sets, iv cannulas, and needleless connectors. Infusion pumps accounted for the largest market share due to their widespread use in delivering fluids, including drugs and nutrition. Many infusion pumps are available, including enteral pumps, syringe pumps, multi-channel pumps, and peristaltic pumps.

On the other hand, needless connectors are expected to become more popular. The benefits of these devices, such as reduced bacterial contamination and increased protection against needlestick injuries, have aided the market's growth. As home healthcare becomes more common, the demand for syringes and ambulatory pumps rises.

Smart pumps with barcode technology help validate a patient's identity, preventing incorrect medicine from being administered to the patient. These pumps also notify healthcare workers if they choose an incorrect drug dosage. The introduction of technologically advanced infusion pumps, such as the CADD-Solis ambulatory infusion pump, is expected to drive infusion pump market growth during the forecast period.

Anti-infective, endocrinology, hydration therapy, chemotherapy, enteral nutrition, parenteral nutrition, and speciality pharmaceuticals are the application segments of the North America home infusion therapy market.

The parenteral nutrition market is expected to grow significantly during the forecast period due to increasing government initiatives to raise awareness about parenteral nutrition.

Recent Developments

• April 2022, Baxter International Inc., a global leader in acute care, announced today that the company's ST Set used in continuous renal replacement therapy had received FDA 510(k) clearance (CRRT).
• May 2020, BD (Becton, Dickinson and Company), a leading global medical technology company, today announced the availability of a new high-throughput molecular diagnostic combination test for SARS-CoV-2 and Influenza A/B, the second test for the BD CORTM PX/MX System to be CE marked to the IVD directive 98/79/EC.
• May 2022, BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, and Mitsubishi Gas Chemical Company, Inc. (MGC), a Tokyo-based R&D-oriented chemical manufacturer, today announced an agreement to investigate further development of OXYCAPTTM, an MGC innovation that combines the best of plastic and glass for plastic syringes.