Infusion therapy involves direct delivery of medication in the bloodstream through intravenous route for immediate relief of pain or in case where a patient is unable to swallow medication.
Description:
- Infusion therapy involves direct delivery of medication in the bloodstream through intravenous route for immediate relief of pain or in case where a patient is unable to swallow medication. The therapy is performed at home and involves administration of medication via catheter or needles. Infusion therapy services are commonly used in the treatment of cancer, gastrointestinal (GI) disorders, heart failure, chronic pain, immune system problems, and other conditions.
- Infusion therapy services are also used in the treatment of disease conditions such as rheumatoid arthritis, Crohn’s disease, immune deficiencies, hemophilia, and multiple sclerosis. Hence, increase in application areas of infusion therapy creates significant opportunity for companies to expand their services. This in turn is projected to drive the global infusion therapy market. Additionally, infusion therapy includes administrative services, patient education services, care coordination, and pharmacy services. These factors mentioned above boost the growth of the global market.
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Key Drivers of Global Infusion Therapy Market
- Increase in Number of Patients with Chronic Pain, Cancer, and Diabetes Drive Global Market
- Rise in number of people suffering from chronic pain, cancer, and diabetes is a major driver of the global infusion therapy market
- According to the WHO 2015 report, cancer is the second leading cause of death globally and accounted for 8.8 million deaths in 2015
- Diabetes a major disease category that requires infusion systems for precise and effective drug delivery. According to the WHO 2015 data, around 1.6 million deaths were directly caused by diabetes. The disease is projected be the seventh leading cause of death by 2030.
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- Initiatives by Health Care Service Providers to Support Market Growth
- The global infusion therapy segment is witnessing steady growth due to the presence of large number of small- and medium-scale players such as Walgreens Company, BioScrip, Inc., Critical Care System, and Apria Healthcare that offer home infusion therapy. For example, BioScrip, Inc. has 40 specialty infusion pharmacies and 33 nursing locations in 46 states of the U.S. These facilities offer 24x7 services by skilled infusion nurses and clinical pharmacies. Hence, these initiatives by health care service providers are anticipated to fuel the growth of the global infusion therapy market. Major players in the global market are Gentiva Health Services, American Home Patient, Lincare Holdings, Inc., and Apria Healthcare.
Total Parenteral Nutrition Segment to Dominate Global Market
- In terms of product type, the global infusion therapy market can be classified into intravenous set, needleless catheter, and infusion pump
- Based on application, the global infusion therapy market can be categorized into chemotherapy, diabetes, hydration therapy, inotropic therapy, pain management, HIV, post-transplant therapies, total parenteral nutrition, hemophilia, and others
- In terms of end-user, the global infusion therapy market can be categorized into hospitals, ambulatory surgical centers, specialty clinics, home care, and others
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Emerging Economies to Offer Growth Opportunities
- In terms of region, the global infusion therapy market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- The infusion therapy market is growing rapidly in North America due to high incidence rate of chronic diseases such as diabetes and cardiovascular diseases. Europe is likely to be the second largest market during the forecast period. Growth of the market in the region is attributed to technological advancements and increase in investments by pharmaceutical companies such as Phillips Healthcare and ResMed, Inc. in infusion therapy business. Hence, the factors mentioned above are expected to boost the growth of the infusion therapy market in Europe. Additionally, aging population coupled with shifting focus of patients from hospital stay to home is likely to fuel the growth of the home care segment in the region. Asia Pacific is considered an emerging market for infusion therapy due to rise in demand for low cost infusion therapy. The infusion therapy market in the region is projected to grow at a rapid pace due to emergence of large number of health care equipment manufacturers and rise in number of organizations that provide infusion therapy.
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