About Infusion Pharmacy Management
Infusion therapy is recommended to only those patients who are in critical condition or not in a situation to consume oral medication. Infusion Pharmacy basically is the process of infusion of antifungal, antibiotic, antiviral, pain management and nutritional drug through needle or catheter. The diseases which include infusion pharmacy treatment are cancer, diabetes, GI disorder, and pain related disorders are generally treated with infusion medication system. This type of treatment can also be administered at home by providing doorstep services. Home infusion pharmacy management is more cost-effective than hospital infusion pharmacy management as it requires more professional nursing facilities. Further, an increasing number of chronic disorders and growing healthcare spending by the government to treat such disorders is propelling market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.54% |
The Global Infusion Pharmacy Management market is fragmented with several players who are involved in new innovation of product and services. Moreover, the market also has home infusion services provided to the patients. Companies are involved in improving those services as well. For instance, in August 2018, Option Care’s specialized hereditary angioedema (HAE) therapy program helps patients with the condition avoid traveling to the emergency department (ED) to treat attacks of severe swelling. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Infusion Pharmacy Management market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BioScrip, Inc. (United States), BD (United States), Cigna (United States), Option Care Enterprises, Inc. (United States), CVS Health (United States), McKesson Corporation (United States), Mediware (United States), OptumRx (United States), Healix (United Kingdom), CareCentrix (United States), MedicoRx (United States) and Ivenix (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are ARJ Infusion Services (United States), Brightree (United States), Accredo Health Group (United States), ContinuumRx (United States) and Soleo Health (United States).
Segmentation Overview
AMA Research has segmented the market of Global Infusion Pharmacy Management market by Type (Antibiotics, Antimicrobial, Pain Management, Enteral Nutrition and Others), Application (Hospital & Clinic, Ambulatory Surgical Centers and Home Care) and Region.
On the basis of Type, Antibiotics are dominating the market in the year 2023On the basis of application, Hospital segment is dominating the market in the year 2023On the basis of geography, the market of Infusion Pharmacy Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Asia Pacific, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Direct will boost the Infusion Pharmacy Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in Pharmaceutical Companies and Rapid Development in Healthcare Infrastructure in Emerging Countries
Market Growth Drivers:
Increasing Prevalence of Pain Related Disorder & Diseases such as Cancer & Diabetes, Ease of the Services Provided by Infusion Pharmacy Treatment such as Home Infusion by Providing Doorstep Service and Increasing Geriatric Population
Challenges:
Lack of Availability of Skilled Professionals, Increasing use of Alternative Medications and Risk Involved in Infusion Therapy Resulting in Low Adoption Rate
Restraints:
Lack of Scientific Data about the Efficacy of IV (Intravenous) Therapy Use and High Cost of Infusion Pharmacy Management and Treatment may hamper the Market Growth
Opportunities:
Expansion of Local Healthcare Market via Increased Healthcare Spending by the Government
Market Leaders and their expansionary development strategies
In June 2023, Diplomat, a provider of specialty pharmacy and infusion services, is set to be acquired by UnitedHealth Group. By this merger companies promote improved health outcomes and lower care costs.
In April 2020, Citus Health, a provider of post-acute mobile technology workflow management solutions, announced a partnership with Virtue Technologies. The collaboration will provide home infusion and specialty pharmacy providers with easy access to the VirtueScript electronic delivery and notification system via the Citus Health platform, resulting in increased staff efficiency and patient satisfaction.
Key Target Audience
Infusion Pharmacy Drug Manufacturers, Pharmaceutical Companies, Industry Associations, Potential Investors, Marketing and Consulting Firms, Downstream Vendors, Government and Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.