Impact of COVID-19 pandemic on Home Infusion Therapy Services Market Structure and Its Segmentation
Home infusion therapy services offer an innovative healthcare services at the doorsteps. Infusion therapy administer medication through needle or a catheter. Infusion therapy is generally used when the patient’s condition is very severe and cannot be cured with the oral medication. Home infusion is best described as most convenient for patient particularly when the infusion is needed multiple times in a day or long term care. Disease which need infusion therapies include cancer and cancer related pain, dehydration, gastrointestinal disorders, congestive heart failure, Crohn’s disease, hemophilia, immune deficiencies, multiple sclerosis, rheumatoid arthritis.
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Infusion therapy administer drug intravenously and sometimes through other non-oral routes like subcutaneously and an epidural. With the infusion therapy service patient can get intravenous treatment from the comfort of their home. These services provide nursing and pharmacist who will monitor the heath 24/7. The experience of the nurse to administer complex intravenous therapies and the pharmacist with a good access to the latest research and protocols work with the physician to provide the best available care along with infusion therapy services.. The home infusion therapy has proved safe, effective and less costly as compared to the patient treatment in the hospital. Dietician work along with the nurse and the physician to meet the current and future need of the patient based on different factors such as weight, allergies, digestive function.
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The home infusion therapy services has been categorized on the basis of product type, route of administration and application.
Segmentation by Product Types
- Intravenous set
- Needleless catheter
- Infusion pump
Segmentation by Route of Administration
Segmentation by Application
- Hydration therapy
- Inotropic therapy
- Pain management
- HIV therapies
- Post-transplant therapies
- Total parenteral nutrition
- Hemophilia therapies
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On the basis of product type, the market is segmented into Intravenous set, needleless catheter, and infusion pump. Needleless catheter is growing due to its increasing adoption for the patients with cancer and diabetes. On the basis of route of administration, the market is segmented into intramuscular, subcutaneously, epidural. Intramuscular is growing as it has fastest rate of absorption due to large muscles and blood vessels. On the basis of application, the market is segmented into chemotherapy, diabetes, hydration therapy, inotropic therapy, pain management, HIV therapies, post-transplant therapies, total parenteral nutrition. Rapid change in the lifestyle and increase in the rate of diabetes and insulin intake, the home infusion therapy services will grow at faster rate. Rise in demand of home infusion therapy and increase in customer spending on healthcare will propel the growth in near future.
Home infusion therapy services is efficiently putting up the patients requirement, growing demand of the infusion devices in the homecare market, increase in the elderly population using the infusion devices for long term. In addition, the favorable reimbursement policies from public and private firms contributes to the overall market growth. In contrast, lack of skilled nurses in the developing and under developed region, irregularity in the functioning of infusion devices and misguided use of infusion devices may hinder the growth of home infusion therapy services.
On the basis of geography home infusion therapy market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is projected to hold largest shares in the global market primarily growing due to increasing number of disease such as cancer, diabetes and high adoption rate. Asia pacific is growing faster rest owing to the large population, increase in the chronic disease and availability of cost effective the home infusion therapy.
Some of the key player present in the home infusion therapy services market are, ContinuumRx , BioScrip, Inc. , BriovaRx,Inc.,. CareCentrix, Inc. , Coram LLC, Medical Services of America, Inc. , Cleveland Clinic, Option Care Enterprises, Inc. , Allina Health , ICU Medical, Inc.
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