Infusion Therapy Market Scope
Due to an increase in the number of people suffering from chronic pain, cancer, and diabetes, the worldwide Infusion Therapy market is likely to see strong demand in the coming year. Oral medication is the least effective pain-relieving treatment approach, with infusion therapy being the most widely employed. The medication is frequently given intravenously or subcutaneously in this treatment. Patients are switching from traditional therapies to specialized infusion therapy treatments since the results are more successful, thanks to technological advancements. Infusion Therapy is used to treat a variety of conditions, including diabetes, gastrointestinal illnesses, cancer, and many others. Administrative services, patient education services, care coordination services, and pharmacy services are all included in infusion therapy. These elements contribute to the global market's expansion. According to AMA, the Global Infusion Therapy market is expected to see growth rate of 10.34%
The global market for infusion treatment is fiercely competitive. Key firms used sophisticated healthcare technology to improve healthcare services in order to thrive in a competitive market. Furthermore, large players frequently use methods like mergers, acquisitions, and new product releases to maintain market share and diversify their product portfolio. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Infusion Therapy market throughout the predicted period.
Gentiva Health Services (United States), American Home Patient (United States), Lincare Holdings, Inc. (United States), Apria Healthcare. (United States), ContinuumRx (United States), BioScrip, Inc. (United States), CareCentrix, Inc. (United States), Coram LLC (United States), Medical Services of America, Inc. (United States) and Cleveland Clinic (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Option Care Enterprises, Inc. (United States), Allina Health (United States), ICU Medical, Inc. (United States), Hospira, Inc.(United States), B. Braun Melsungen AG (Germany), Caesarea Medical Electronics (Israel), JMSCo. Ltd., Baxter (United States), Novartis (Switzerland) and Roche Diagnostics (Switzerland).
The study have segmented the market of Global Infusion Therapy market by Type (Intravenous Set, Needleless Catheter and Infusion Pump), by Application (Chemotherapy, Diabetes, Hydration Therapy, Inotropic Therapy, Pain Management, HIV, Post-Transplant Therapies, Total Parenteral Nutrition, Hemophilia and Others) and Region with country level break-up.
On the basis of geography, the market of Infusion Therapy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Technological Advancements in Infusion Devices
Market Growth Drivers:
Increasing Aging Population and High Adoption due to Rising Number of Chronic Diseases
Issues Related to Reimbursement Policies
Growing Risk to Patient Safety and Occurrence of Mistakes while using Infusion Devices
increase in application areas of infusion therapy such as Rheumatoid Arthritis, Crohn’s Disease, Immune deficiencies, Hemophilia, and Multiple Sclerosis
Market Leaders and their Expansionary Development Strategies
June. 14, 2021-Leading health and well-being company Humana Inc. has announced that it has signed a definitive agreement to acquire One Homecare Solutions (“one home”) from WayPoint Capital Partners (WayPoint), the private equity affiliate of a New York-based family investment office.
On August 23, 2021,the National Home Infusion Association (NHIA) lauded the introduction of bipartisan legislation in the U.S. House of Representatives to improve home infusion access in the Medicare program, adding bicameral support for identical legislation introduced in the Senate earlier this month. The Preserving Patient Access to Home Infusion Act (H.R. 5067) — introduced in the House by Reps. Terri Sewell (D-AL), Debbie Dingell (D-MI), Fred Upton (R-MI), and Vern Buchannan (R-FL) — would ensure patients with serious viral and fungal infections, heart failure, immune diseases, cancer, and other conditions can receive intravenous (IV) medications they need while at home. Companion legislation (S. 2652) was introduced in the Senate on August 5th by Sens. Mark Warner (D-VA) and Tim Scott (R-SC).
On December 13, 2016, the 21st Century Cures Act (the Cures Act) was enacted into law. Section 5012 of this new law amended sections 1861(s)(2) and 1861(iii) of the Act, and established a new Medicare home infusion therapy benefit. The Medicare home infusion therapy benefit is for coverage of home infusion therapy-associated professional services for certain drugs and biologicals administered intravenously, or subcutaneously through a pump that is an item of DME, effective January 1, 2021. Section 1861(iii)(2) of the Act defines home infusion therapy to include the following items and services: the professional services (including nursing services), furnished in accordance with the plan, training, and education (not otherwise included in the payment for the DME), remote monitoring, and other monitoring services for the provision of home infusion therapy furnished by a qualified home infusion therapy supplier in the patient’s home.
Key Target Audience
Government Regulatory Bodies, Government Research Organisation, Government Research Organisation, Private Research Organisation and Others
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.