Infusion Therapy Market, by Products (Infusion Pump Sets and Accessories and Consumables), Application (Total Parenteral Nutrition, Anti-infective Therapy, Enteral Nutrition, Hydration Therapy, Chemotherapy, IVIg/Specialty Pharmaceuticals, and Other Applications), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Infusion Therapy Market size is projected to reach a CAGR of 7% from 2023-2030.
Infusion therapy is an alternative to oral treatment that involves the administration of drugs/medicine and nutrition through a sterile catheter or needle. It is usually employed to treat serious or chronic infections that do not respond to oral medications. The therapy is performed at hospitals, infusion therapy centers, or homes and involves the administration of medication via catheters or needles by specially trained professionals such as nurses. Infusion therapy services are commonly employed in the treatment of cancer, gastrointestinal (GI) disorders, dehydration caused by nausea, vomiting, diarrhea, heart failure, chronic pain, and immune system problems.
Infusion therapy services are also utilized in the treatment of rheumatoid arthritis, Crohn’s disease, immune deficiencies, hemophilia, and multiple sclerosis. Hence, an increase in application areas of infusion therapy creates a significant opportunity for companies to expand their services. This, in turn, is projected to drive the global infusion therapy market. Other factors which will propel the market are the rise in the number of people suffering from chronic pain, cancer, and diabetes. Governments in developing countries are making significant investments to modernize healthcare infrastructure, which is likely to increase access to healthcare. This is expected to increase the demand for infusion therapy services. The rise in the prevalence of chronic diseases in developing countries presents lucrative opportunities in the global infusion therapy market
On the other hand, associated risks during the administration of medication, irregularity in the functioning of infusion devices, misguided use of infusion devices, and complex reimbursement policies, may hamper the growth of the market.
As cases of COVID-19 been increasing in 2020, the use of alternate site solutions rose in high demand, and home and specialty infusion providers played a critical role in supporting patients. In April 2020, the American Society of Clinical Oncology (ASCO) issued guidelines for infusion therapies for hospital and home infusion services, to ensure the safety of patients. The American Society of Clinical Oncology (ASCO) reported that there might be rare circumstances of risks with home infusion therapies that could need immediate medical necessities. In these highly unusual situations, the increased risk of a home infusion may be outweighed by the risks associated with the lack of access to biological therapy.
The infusion therapy market is poised for substantial growth, driven by the increasing demand for advanced and personalized therapies, the rising prevalence of chronic diseases, and the growing geriatric population. However, overcoming challenges related to cost, reimbursement, and adverse effects of infusion therapy will be crucial for sustained market expansion. With the right strategies and innovations, players in the infusion therapy market are well-positioned to capitalize on the opportunities and shape the future of healthcare delivery.
North America to Dominate the Market