Page 17 - HME Business, March/April 2022

Home Infusion
Home Infusion: Global Growth The top 4 trends uplifting home infusion therapy industry share through 2027.
Shreya Bhute
With trends such as CMS’s new infusion benefit that creating new opportunities for DME phar- macies, it’s easy to think only about market trends here in the states. However, globally, there are broad trends further driving the uptake of home infusion, which only goes to underscore the importance of this service offering to DME pharmacies.
The home infusion therapy market will be tremendously driven by the rising burden of chronic diseases and the prevalence of hospital-acquired infections worldwide. The CDC (Centers for Disease Control and Prevention) along with a group of researchers, stated that the COVID-19 pandemic triggered a significant rise in healthcare-associated infections (HAIs) in U.S. hospitals in 2020.
Moreover, as a result of technological enhancements, cus- tomized infusion pumps, given their integration with innovative software, are widely employed to provide enhanced safety features to protect patients while providing drugs assistance.
On this note, the global home infusion therapy market size will be worth more than $ 48.5 billion by 2027, cites a report by Global Market Insight Inc. (Find the report at www.gminsights. com/industry-analysis/home-infusion-therapy-market-report.)
The growing obligation to limit intravenous medication ad- ministration errors has led to the influx of infusion smart pumps with dose error reduction systems and drug libraries. For instance, RyMed Technologies introduced needleless connec- tors deployed with neutral advantage technology to enhance clinician safety by countering the movement of bacteria into the fluid path. The higher adoption of smart technologies is also assisting users in selecting the required therapeutics from an approved list as well as input the required patient information.
Here are some key factors that are anticipated to influence the home infusion therapy market:
MALNUTRITION
The growing instances of malnutrition along with a broad range of applicability have resulted in the increasing preference for intravenous sets. There is also a significant rise in the number of government initiatives. The UNICEF has suggested that poor nutrition during the first 1,000 days of a newborn’s life results
in stunted growth and weakened cognitive ability. Intravenous sets are hence increasingly used to provide medication or nutrients to patients in the treatment of several chronic disease conditions that require specific medication therapies.
Numerous home infusion therapy providers are also design- ing and developing innovative IV therapy product portfolios for vascular access sites, to improve infusion delivery, whilst lowering the infection risks. Driven by this, the overall industry
share from intravenous sets may record $6,400 million by 2027.
CHEMOTHERAPY
Demand for home infusion therapy
services in chemotherapy applications
will cross $1,105 million through 2027.
This is mainly ascribing to the growing
inclination of doctors towards infusion
therapy to treat cancer patients as it permits specifically de- signed drugs to permeate the body inhibiting cellular mitosis.
Recent research shows that relieved distress from symptoms, reduced risks of complications, and higher affordability over hospital-based care, are some benefits of treating cancer at home via infusion therapies. In addition, home-based intrave- nous chemotherapy assists patients in effectively managing their symptoms while adhering to the chemotherapy schedules.
COMPETITIVE INITIATIVES
Renowned home infusion therapy companies are focusing on novel product developments as well as partnerships with public organizations and private players along with distribution agree- ments to bring new offerings in a bid to expand their customer base. For instance, ICU Medical Inc., in February 2017, acquired the Hospira Infusion Systems business, comprising infusion devices, from Pfizer Inc. The acquisition helped the company
in driving its product sales and to bolster its industrial position across the North American markets.
THE JAPANESE MARKET
Japan’s home infusion therapy market size is likely to touch $3,138 million by 2027 owing to the presence of a large geriat- ric population pool and upgraded home healthcare facilities across the region. According to government statistics, nearly 36.17 million people in the country were aged 65 years and above in 2019.
This expanding older population has led to the rising inci- dence of chronic diseases, such as diabetes and cardiovascular disorders, pushing several vendors to launch innovative infusion devices for extending their quality of life. The rise in the number of government initiatives has also steered the demand for home infusion therapies for maintaining good health of patients. n
With corporate exposure in software and marketing, Shreya Bhute was always keen and intrigued by content development. Having pursued her graduation in I.T. engineering along, she is employed as a content writer and jots down diverse articles across distinct areas of interest.
hme-business.com
April 2022 | DME Pharmacy 9