Home and alternate site infusion therapy refer to the process in which patients receive treatment at home or alternate site through the drugs or biological products administration. The majority of these medications are administered through a needle or catheter, also known as an infusion, while others are administered via alternate routes of administration. Infusion medication is prescribed during acute and chronic illnesses, which alone cannot be treated with oral medications. The patient also has a shorter hospital stay as the infusion therapy can be provided in alternate-site settings such as homes and ambulatory infusion centers.
MARKET SCOPE
The "Global Home and Alternate Site Infusion Therapy Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the home and alternate site infusion therapy market with detailed market segmentation by product type, application, and geography. The report provides key statistics on the market status of the leading home and alternate site infusion therapy market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product type, the global home and alternate site infusion therapy market is segmented into chemotherapy, anti-infective therapies, immune therapy, general nursing services and others.
- Based on application, the market is segmented into residential, ambulatory infusion centers and others.
MARKET DYNAMICS
Drivers:
- The increasing number of baby boomers suffering from decreased mobility profiles such as osteoarthritis, diabetes, and increasing geriatric population drive the home and alternate site infusion therapy market growth.
- Growing preference for home care and alternative site care and increasing need to reduce the duration of inpatient stays boost market growth.
- Rapid technological advancements and product launch fuel market growth.
Restraints:
- High cost associated with the infusion pumps.
- Safety issues associated with infusion pumps.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The home and alternate site infusion therapy market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the home and alternate site infusion therapy market in these regions.
IMPACT OF COVID-19 ON HOME AND ALTERNATE SITE INFUSION THERAPY MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. As cases of COVID-19 had been increasing, it impacted the growth of the market. The emergency room visits were down, and admissions that are not related to COVID-19 also declined. Although, many people suffering from Covid-19 had to be hospitalized and often needed to be placed on ventilator support. It resulted in a shortage of hospital space which was required to prevent disease transmission to other patients and health care providers. Therefore, home and alternate site solutions demand surged, and infusion providers played a critical role in supporting patients. Manufacturers focused on providing home infusion services to increase hospital bed capacity and hospital resources utilization for patients suffering from COVID-19. Hence, the above-mentioned factors impacted the growth of the market during the pandemic period.
MARKET PLAYERS
The report covers key developments in the home and alternate site infusion therapy market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from home and alternate site infusion therapy market are anticipated to have lucrative growth opportunities in the future with the rising demand for home and alternate site infusion therapy in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the home and alternate site infusion therapy market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- McLaren
- Option Care Health
- Coram CVS
- HCA Healthcare
- PharMerica
- CHI Health
- Accredo Health
- UnitedHealth Group
- Cleveland Clinic
- B. Braun Melsungen AG