U.S. Home Infusion Therapy Market Report Highlights:
- U.S. home infusion therapy market size pumped up to USD16.99 billion in 2023.
- It is projected to reach USD 32.81 billion by 2033.
- It’s expected to keep flowing with a 7.3% CAGR through 2033.
- Infusion pumps, the workhorses of the market, held a commanding 43% share in 2023.
- Chronic diseases like cancer and diabetes drove the market in 2023, accounting for 36% of the share.
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According to the American Cancer Society, approximately 1.8 million people were diagnosed with cancer, with over 600,000 people expected to die as a result of this challenging disease. Home infusion allows patients to manage cancer treatment actively, giving them greater control.
In 2020, the National Home Infusion Foundation Trends 2020 Report estimated that the fascinating world of home and specialty infusion caters to over 3.2 million patients annually. The COVID-19 pandemic hit a pause on elective surgeries, causing a dip in the need for follow-up home care. Thanks to cost-cutting by slashing inpatient stays and a buffet of infusion device options. Home infusion therapy (HIT) takes the healthcare party directly to a patient’s doorstep at home, nursing home, hospital or outpatient clinic. But, also, a knowledge gap looms between the home infusion experts and the clinicians, potentially leading to less-than-stellar outcomes. Let’s bridge that gap for optimal therapeutic adventures.
U.S. Home infusion therapy is like bringing the hospital to your home! It’s a specialized healthcare service where patients receive medications through a needle or catheter at home instead of going to a medical facility. This method is often used for conditions requiring ongoing treatments, like infections, chronic illnesses or pain management. A trained healthcare professional usually administers the infusions, ensuring patients can comfortably manage their treatment in the familiar environment of their own homes. It offers convenience and personalized care, making the healing process a bit easier.
Impact of COVID-19
The COVID-19 pandemic had challenges and opportunities for the U.S. home infusion therapy market. On the downside, the initial disruptions in healthcare systems worldwide affected the regular flow of services, including U.S. home infusion therapy. Patients were hesitant due to safety concerns and healthcare resources were strained. However, on a positive note, the pandemic emphasized the importance of home-based care and many patients and healthcare providers turned to home infusion therapy to minimize exposure. Telehealth services also played a crucial role in monitoring and managing treatments remotely. The flexibility and reduced infection risks associated with home infusion gained prominence, leading to a renewed appreciation for this personalized and patient-friendly approach to healthcare. As we adapt to a post-pandemic world, the home infusion therapy market is expected to grow as vital to accessible and patient-centered healthcare.
Internationally, the idea of getting cancer treatments at home has proven safe and effective for various patients and treatments. Around 5% to 10% of global patients opt for home administration, with even intensive chemotherapy being successfully done at home. It offers comparable care and enhances the overall experience for patients and caregivers while being more cost-effective. In the United States, the practice of delivering cancer drugs at home is not common. This reluctance is primarily due to ingrained preferences for outpatient or inpatient treatments among healthcare professionals and patients. Additionally, established health insurance and drug reimbursement policies contribute to this trend.
For Instance,
- Peon Medicine, a six-hospital health system in the Philadelphia region, handles over 17,000 new cancer patients annually. Surprisingly, only 670 were utilizing Penn Home Infusion Therapy as of February 2020, despite its proven safety and effectiveness for treatments like chemotherapy and hydration. It’s worth noting that the home infusion setting also provides a convenient way to manage exposure to COVID-19.
U.S. Home Infusion Therapy has Grown in Cancer Treatment
As cancer becomes more common, some people now need chemotherapy at home. This means getting the necessary treatment in their homes instead of going to a hospital. It helps make the process more convenient for patients. In 2020, nearly 43% of cancer diagnoses in men were attributed to prostate, lung and colorectal cancers. Similarly, for women, breast, lung and colorectal cancers made up about half of all new cancer cases in that year. It’s worth noting that the adoption of home infusion therapy has been on the rise, contributing to increased care for individuals dealing with these prevalent cancers.
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