NEW YORK, United States, June 13, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Infusion Pharmacy Management Market 2023 – 2030” in its research database. According to the latest research study, the demand of global infusion pharmacy management market size was worth at approximately USD 42.04 billion in 2022. The market is expected to grow above a CAGR of 6.53% and is anticipated to reach over USD 69.73 billion by 2030.
The report analyses the Infusion Pharmacy Management market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Infusion Pharmacy Management market.
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Infusion Pharmacy Management Market Overview:
During infusion therapy, drugs or pharmaceuticals are given using a sterilized catheter or needle. They are regularly inserted and secured in the patient's vein by a skilled healthcare professional. Only patients whose conditions do not respond to oral therapy and whose health has not yet improved are frequently given this recommendation.
At the infusion pharmacy, a needle or catheter is used to administer nutritional drugs, antibiotics, antiviral, antifungal, and painkiller medications directly into the patient's body. A number of illnesses, including cancer, gastrointestinal problems, diabetes, and illnesses involving pain are treated using the infusion medication system.
Key Insights from Primary Research
- As per the analysis, the infusion pharmacy management market is likely to grow above a CAGR of around 6.53% between 2023 and 2030.
- The Infusion Pharmacy Management market size was worth around US$ 42.04 billion in 2022 and is estimated to hit approximately US$ 69.73 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The growing incidence of chronic disease is expected to drive the infusion pharmacy management market growth during the forecast period.
- Based on the product type, the pain management segment captures the largest market share during the forecast period.
- Based on the application, the hospital & clinic segment is expected to dominate the market during the forecast period.
- Based on region, North America is expected to dominate the market during the forecast period.
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Market Growth Drivers & Restraints:
The growing trend of homecare services drives the market growth
- Hospital-based clinics are the most expensive alternative for infusion, although they have disadvantages in terms of cost and discomfort for the patients. Patients may experience greater inconvenience if a clinic only runs within specific hours because they would have to wait longer for appointments.
- On the other hand, freestanding infusion clinics might be a little more useful than hospital-based clinics due to their distributed placement throughout the community and reduced cost. Care may be fragmented as a result of inadequate communication between the different care teams if these alternative sites are not linked to the patient's primary oncology team.
- Home infusion is far less expensive than hospital-based clinics, even though the cost is almost identical to that of freestanding infusion clinics. Because it makes it simple to receive infusions at home, this strategy is ideal for independent infusion clinics that face transportation issues. Thus, during the projected period, this is anticipated to fuel the expansion of the worldwide infusion pharmacy management market.
The high cost and dearth of skilled professional is expected to hamper the market
- The cost of an infusion pharmacy system and a shortage of competent personnel are two concerns that must be resolved for future development. There are several infusion pharmacy management techniques for enteral nutrition, pain treatment, antibiotics, antimicrobials, and other drugs.
- The most common form of this type of management is infusion pharmacy for pain management. Because it requires more seasoned nursing facilities, home care infusion pharmacy administration is more expensive than hospital infusion pharmacy management.
- The extension of infusion pharmacy management coverage to both public and commercial insurance plans is being spearheaded by numerous governments. Thus, during the course of the forecast period, the growth of the infusion pharmacy management industry is anticipated to be constrained by the high cost and lack of competent specialists.
Competitive Players
The report contains qualitative and quantitative research on the global Infusion Pharmacy Management Market, as well as detailed insights and development strategies employed by the leading competitors. Some of the main players in the global Infusion Pharmacy Management market include;
- MCKESSON CORPORATION
- CARECENTA INC.
- Brightree
- Providence
- ContinuumRx
- PharMerica Corporation
- CarepathRx
- Inovalon
- Centene Corporation
- Prochant LLC
- OSF Healthcare System
- Sentara Healthcare
- CVS Health
- Norton Healthcare
- Magellan Rx Management LLC
- Soleo Health
- Cleveland Clinic, and others.
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Infusion Pharmacy Management Market: Segmental Analysis
The global infusion pharmacy management industry is segmented based on product type, application, and region.
The global market is segmented by product type into antibiotics, antimicrobials, pain management, enteral nutrition, and others. The segment of pain management is anticipated to hold the greatest market share over the forecast period. This is because pain management can be used to treat a variety of pain syndromes, such as fibromyalgia, neuropathic pain, phantom limb pain, post-herpetic neuralgia, complex regional pain syndromes, diabetic neuropathy, and central pain related to stroke or spinal cord. In contrast, the antibiotics segment is anticipated to experience the highest CAGR during the forecast period. Antibiotics are medications used to treat bacterial infections in both humans and animals. They accomplish this by eliminating the bacteria or making it more difficult for them to develop and reproduce. Consequently, the increasing prevalence of numerous infectious diseases is anticipated to drive segment growth over the forecast period.
The global infusion pharmacy management industry is divided into hospitals & clinics, ambulatory surgical centres, and homecare on the basis of application. Over the forecast period, the hospital & clinic segment is anticipated to dominate the market. The segment's expansion is attributable to the rising number of patients with various diseases. In contrast, the homecare segment is anticipated to experience the highest CAGR during the forecast period. The segment expansion is due to the advantages of home infusion therapy. This service provides patients with an opportunity to receive treatment in the setting in which they feel most at ease.
Regional Analysis:
North America: The market for infusion pharmacy management is anticipated to be dominated by North America over the forecast period. The expansion of the region can be attributed to the rising prevalence of chronic disease and the ageing population. According to the Centres for Disease Control and Prevention, there were 1,752,735 new cancer cases in the United States in 2019, while 599,589 people died from the disease. There were 439 new cancer cases and 146 cancer-related fatalities for every 100,000 people.
Moreover, according to the same source, in 2019, 1.0% of adults aged 18 to 44, 3.6% of adults aged 45 to 54, 9.0% of adults aged 55 to 64, 14.3% of adults aged 65 to 74, and 24.2% of individuals aged 75 and older reported having heart disease. Moreover, according to the American Community Survey of 2021, 16.8% of the nation's population, or 55,892,014, was 65 years of age or older. Consequently, the rising prevalence of chronic disease and the ageing population are anticipated to increase demand for the infusion pharmacy management industry over the forecast period.
Asia-Pacific: The Asia-Pacific market is anticipated to grow substantially over the forecast period due to the increasing prevalence of chronic diseases and the expanding use of advanced healthcare facilities in emerging economies such as China and India. In addition, it is anticipated that the presence of a sizable patient population and a growing public awareness of the benefits of infusion therapy will contribute to the expansion of this market's revenue. In addition, it is anticipated that the availability of inexpensive infusion pumps and the increasing frequency of alliances and collaborations between major corporations will contribute to the growth of market revenue.
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Recent Industry Developments:
- In December 2020, CarepathRx, a pioneer in pharmacy and medication management programs for frail and chronically sick patients, announced a partnership with UPMC's Chartwell division that will broaden patient access to cutting-edge specialized pharmacy and home infusion services.
- In April 2020, Virtue Technologies and Citus Health joined forces to deliver post-acute mobile technology workflow management solutions. The partnership will boost staff productivity and patient happiness by giving specialty and home infusion pharmacy providers simple access to the VirtueScript electronic delivery and notification system via the Citus Health platform.
- In April 2022, a global healthcare provider AmerisourceBergen (AB) recently unveiled a program to assist hospitals and health systems in establishing or improving their home infusion service lines. Health systems with outstanding outpatient infusion center performance are increasingly using home infusion to eliminate possible care gaps as site-of-care strategies gain prominence. This is particularly relevant as therapeutic innovations continue to widen the variety of therapies that may be administered at home.
- In September 2021, the introduction of its new CARESAFETM IV Administration Sets with Optional AirStop component was announced by B. Braun Medical Inc. (B. Braun), a pioneer in infusion treatment and pain management. The first comprehensive line of IV administration sets available in the US market that is free of polyvinyl chloride (PVC) and diethylhexyl phthalate (DEHP) is called CARESAFE IV Sets. They offer an additional layer of defense against potential health concerns brought on by exposure to these chemicals for the environment and, most crucially, patients.
Key questions answered in this report:
- What is the market size and growth rate forecast for infusion pharmacy management industry?
- What are the main driving factors propelling the infusion pharmacy management market forward?
- What are the leading companies in the infusion pharmacy management industry?
- What segments does the infusion pharmacy management market cover?
- How can i receive a free copy of the infusion pharmacy management market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 42.04 Billion |
| Market Forecast in 2030 | USD 69.73 Billion |
| Growth Rate | CAGR of 6.53% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | 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 and Prime Therapeutics LLC among others. |
| Segments Covered | By Product Type, By Application, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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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
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2023-2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Product Type, By Application, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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