Home Infusion: Global Growth
The top 4 trends uplifting home infusion therapy industry share through 2027.
- By Shreya Bhute
- Apr 01, 2022
With corporate exposure in software and marketing, Shreya
Bhute was always keen and intrigued by content development.
Having pursued her graduation in I.T. engineering along, she
is employed as a content writer and jots down diverse articles
across distinct areas of interest.
With trends such as CMS’s new infusion benefit
that creating new opportunities for DME pharmacies,
it’s easy to think only about market
trends here in the states. However, globally,
there are broad trends further driving the uptake of home
infusion, which only goes to underscore the importance of this
service offering to DME pharmacies.
The home infusion therapy market will be tremendously
driven by the rising burden of chronic diseases and the
prevalence of hospital-acquired infections worldwide. The
CDC (Centers for Disease Control and Prevention) along with
a group of researchers, stated that the COVID-19 pandemic
triggered a significant rise in healthcare-associated infections
(HAIs) in U.S. hospitals in 2020.
Moreover, as a result of technological enhancements, customized
infusion pumps, given their integration with innovative
software, are widely employed to provide enhanced safety
features to protect patients while providing drugs assistance.
On this note, the global home infusion therapy market size
will be worth more than $ 48.5 billion by 2027, cites a report by
Global Market Insight Inc. (Find the report at www.gminsights.com.)
The growing obligation to limit intravenous medication administration
errors has led to the influx of infusion smart pumps
with dose error reduction systems and drug libraries. For
instance, RyMed Technologies introduced needleless connectors
deployed with neutral advantage technology to enhance
clinician safety by countering the movement of bacteria into the
fluid path. The higher adoption of smart technologies is also
assisting users in selecting the required therapeutics from an
approved list as well as input the required patient information.
Here are some key factors that are anticipated to influence
the home infusion therapy market:
The growing instances of malnutrition along with a broad range
of applicability have resulted in the increasing preference for
intravenous sets. There is also a significant rise in the number
of government initiatives. The UNICEF has suggested that poor
nutrition during the first 1,000 days of a newborn’s life results
in stunted growth and weakened cognitive ability. Intravenous
sets are hence increasingly used to provide medication or
nutrients to patients in the treatment of several chronic disease
conditions that require specific medication therapies.
Numerous home infusion therapy providers are also designing
and developing innovative IV therapy product portfolios
for vascular access sites, to improve infusion delivery, whilst
lowering the infection risks. Driven by this, the overall industry
share from intravenous sets may record
$6,400 million by 2027.
Demand for home infusion therapy
services in chemotherapy applications
will cross $1,105 million through 2027.
This is mainly ascribing to the growing
inclination of doctors towards infusion
therapy to treat cancer patients as it permits specifically designed
drugs to permeate the body inhibiting cellular mitosis.
Recent research shows that relieved distress from symptoms,
reduced risks of complications, and higher affordability over
hospital-based care, are some benefits of treating cancer at
home via infusion therapies. In addition, home-based intravenous
chemotherapy assists patients in effectively managing
their symptoms while adhering to the chemotherapy schedules.
Renowned home infusion therapy companies are focusing on
novel product developments as well as partnerships with public
organizations and private players along with distribution agreements
to bring new offerings in a bid to expand their customer
base. For instance, ICU Medical Inc., in February 2017, acquired
the Hospira Infusion Systems business, comprising infusion
devices, from Pfizer Inc. The acquisition helped the company
in driving its product sales and to bolster its industrial position
across the North American markets.
THE JAPANESE MARKET
Japan’s home infusion therapy market size is likely to touch
$3,138 million by 2027 owing to the presence of a large geriatric
population pool and upgraded home healthcare facilities
across the region. According to government statistics, nearly
36.17 million people in the country were aged 65 years and
above in 2019.
This expanding older population has led to the rising incidence
of chronic diseases, such as diabetes and cardiovascular
disorders, pushing several vendors to launch innovative infusion
devices for extending their quality of life. The rise in the number
of government initiatives has also steered the demand for home
infusion therapies for maintaining good health of patients.
This article originally appeared in the DME Pharmacy April 2022 issue of HME Business.
With corporate exposure in software and marketing, Shreya Bhute was always keen and intrigued by content development. Having pursued her graduation in I.T. engineering along, she is employed as a content writer and jots down diverse articles across distinct areas of interest.