The value of the global infusion pharmacy management market was approximately USD 42.04 billion in 2022. It is anticipated that this market size will increase to approximately USD 69.73 billion by 2030, expanding at a compound annual growth rate (CAGR) of approximately 6.53% between 2023 and 2030.
Infusion Pharmacy Management Market: Overview
During an infusion treatment, a sterile catheter or needle is used to deliver the drugs or treatments that are being supplied. They are inserted into the patient’s vein on a consistent basis and then secured by an experienced medical professional. Patients who have not responded to oral medication and whose health has not yet improved are typically the only ones who are advised to undergo this treatment.
At the infusion pharmacy, a needle or catheter is used to administer pain medication, antibiotics, antiviral, and antifungal pharmaceuticals, as well as nutritional pharmaceuticals. These drugs are infused into the patient’s body. Cancer, gastrointestinal disorders, diabetes, and diseases associated with pain are only a few of the conditions that can be treated using the infusion medicine system.
Infusion Pharmacy Management Market: Growth Drivers
The expansion of homecare services is the primary factor driving the growth of the industry.
Hospital-based clinics are the most expensive method of administering infusions, and patients who go there may feel uncomfortable due to the high cost. If a clinic is only open during specific times of the day, it is possible for there to be more hassle for patients because they would have to wait longer for their appointments. On the other hand, freestanding infusion clinics may be a little more practical than hospital-based clinics because of their distributed placement around the community and reduced cost. It is possible for there to be a fragmentation of care as a result of inadequate communication between the multiple care teams if these alternative sites are not connected to the patient’s primary oncology team. The cost of receiving an infusion at home is significantly less expensive than the cost of receiving an infusion at a hospital-based clinic, even if the price is approximately the same as that of freestanding infusion clinics. Because it is so easy to have infusions at home using this method, it is superior to other approaches for usage in freestanding infusion clinics, which face challenges related to patient transportation.
Infusion Pharmacy Management Market: Segmentation
The infusion pharmacy management sector may be broken down into distinct submarkets on the basis of the product type, the application, and the geography.
The global market can be broken down into several different categories, such as antibiotics, antimicrobials, pain treatment, enteral nutrition, and others, based on the product type. Over the course of the projected period, it is anticipated that the pain management sector would seize the biggest market share. This is due to the fact that pain management can be used to treat a wide range of pain syndromes, such as fibromyalgia, neuropathic pain, phantom limb pain, post-herpetic neuralgia, complicated regional pain syndromes, diabetic neuropathy, and central pain that is caused by a stroke or the spinal cord. On the other hand, it is anticipated that the antibiotics category would increase at the highest CAGR over the period covered by the forecast.
Infusion Pharmacy Management Market: Regional Analysis
During the time period covered by the forecast, it is anticipated that North America would have the majority share of the market.
Over the course of the forecast period, it is anticipated that the infusion pharmacy management market will be led by North America. The increased incidence of chronic diseases and the proportion of the population that is getting older are two factors that are contributing to the region’s expansion. For instance, in 2019, the Centres for Disease Control and Prevention (CDC) reported that there were 1,752,735 newly diagnosed cases of cancer in the United States, while 599,589 people lost their lives to the disease. There were 439 newly diagnosed cases of cancer and 146 deaths attributed to cancer for every 100,000 people in the population.
The Asia-Pacific market is expected to rise significantly over the projected period as a result of the rising prevalence of chronic diseases and the expanding usage of cutting-edge healthcare facilities in emerging countries like China and India. Additionally, it is projected that the presence of a sizeable patient population and the growing public awareness of the benefits of infusion treatment will drive market revenue growth in this market. Additionally, it is projected that the availability of low-cost infusion pumps and the increasing frequency of alliances and collaborations between significant corporations would support market revenue development.
Infusion Pharmacy Management Market: Competitive Analysis
The global infusion pharmacy management market is dominated by players like:
MCKESSON CORPORATION
CARECENTA INC.
Brightree
SSRx
Providence
ContinuumRx
PharMerica Corporation
CarepathRx
Inovalon
Centene Corporation
Prochant LLC
OSF Healthcare System
Sentara Healthcare
CVS Health
Norton Healthcare
Cigna
Magellan Rx Management LLC
Soleo Health
Cleveland Clinic
EVERSANA
Cardinal Health
InfuCare Rx Inc.
Paragon Healthcare
Prime Therapeutics LLC
Others.
The global infusion pharmacy management market is segmented as follows:
By Product Type
Antibiotics
Antimicrobial
Pain Management
Enternal Nutrition
Others
By Application
Hospital & Clinic
Ambulatory Surgical Centers
Homecare
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Contact US
Zion Market Research
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL-FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com
Thanks for posting,