(PharmaNewsWire.Com, April 14, 2020 ) Market Overview • The Infusion Therapy Market additives Market is expected to grow at a CAGR of 7.20% during the forecasting period (2019-2026). • Infusion therapy is a therapeutic procedure that delivers the medication through sterile needles and catheters through other non-oral routes, such as intramuscular injections and epidural routes. • Medical condition requiring infusion therapy includes infections and disease which may not be responsive to oral antibiotics. For example, cancer and cancer-related drugs, dehydration, and gastrointestinal diseases or disorders. • An infusion therapy provider is most normally a “closed-door”, a state-licensed pharmacy that is specialized in the provision of infusion therapies to patients in their homes or other alternate-sites called a home infusion therapy pharmacy. • Home infusion therapy is a comprehensive service that provides safe and effective administration of parenteral prescription medications and biologics in a patient’s home or other alternate sites.
Market Drivers and Restraints • High prevalence of chronic diseases and acute surgical procedures are a few major drivers boosting the global infusion therapy market. • There are many surgical procedures for treating chronic diseases. Infusion therapy is one kind of surgical procedure for treating chronic diseases. • The use of infusion therapy may help to provide essential nutrients into the body’s circulation, bypassing the gastrointestinal tract, so that one can benefit from their full function in addressing their disease. • Infusion therapy formulations include “IV Myers”, “Glutathione”, “Vitamin C”, “N-Acetyl Cystine (NAC)”, “Artemesia”, “Curcumin” and more. These therapies address needs that are specific to the individual and their chronic condition. • The high cost of infusion chemotherapeutic and cardiovascular drugs might hamper the growth of the global infusion therapy market.
Segmentation Analysis • By Product, the market is segmented into infusion pumps, intravenous sets, IV cannulas, needleless connectors, and vein imaging devices. Infusion pumps hold the major market share in 2018 and it is expected to remain dominant over the forecast period, due to the increasing product launch of infusion pumps. • For instance, in January 2018, vTitan Corporation introduced the world’s first closed loop infusion pumps, Accuflow SP-550, and Accuflow IBP-550 syringe infusion pumps. The pumps are for critical care medication administration and are powered by indigenously developed and patented closed-loop motion control technology in India. • In April 2018, Smiths medical introduced new card, Solis wireless infusion pump that can deliver medication to patients on the move. • In May 2016, Hospira, introduced LifeCare PCA 7.0 Infusion System, the first patient-controlled analgesia (PCA) infusion pump that offers electronic medical record (EMR) integration. • By End-Users, the market is segmented into hospitals, ambulatory surgery centers, clinics, and home care. • Home care holds the major market share in 2018 and it is expected to remain dominant over the forecast period, due to the individuals requiring long-term therapy, inpatient care is needed and home infusion has been proven to be a safe and effective alternative. • The major agencies in the home healthcare services are working in Infusion therapy services. • For instance, 25.7% of the US homecare agencies operating in the healthcare sector are proving services for infusion therapy in 2018.
Geographical Share • North America holds the major market share for infusion therapy in 2018, and it is expected to maintain the growth over the forecast period. This is due to the significant increase in infusion therapy based drugs to treat chronic and rare diseases. • For instance, in April 2015, InfuSystem Holdings, Inc., a leading national provider of infusion pumps and related services for the healthcare industry in the United States and Canada, acquired Ciscura Holding Company, Inc., along with all of Ciscura subsidiaries. • BioScrip, Inc., the largest independent national provider of infusion and home care management solutions. The solution can dispense and administer Radical (edaravone) which is lateral sclerosis (ALS) approved by the U.S. Food and Drug Administration (FDA) in October 2017.
Competitive Analysis • New product launch and collaboration are some of the key strategies adopted by the leading players to improve their market presence in the global infusion therapy market. • For instance, in October 2018, Shift Labs, introduced its DripAssist infusion rate monitor to deliver best-in-class, home-based, affordable care to patients across the U.S.Moreover, in November 2017, ICU Medical acquire all of Pfizer’s global infusion therapy business, Hospira Infusion Systems (HIS), for USD 1 billion in cash and stock.
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