Global Ambulatory Infusion Center Market Is Estimated To Witness High Growth Owing To Increasing Geriatric Population & Expanding Demographic of Target Conditions
The global Ambulatory Infusion Center Market is estimated to be valued at USD 47.1 Bn in 2024, exhibiting a CAGR of 10.6% over the forecast period (2024-2031). With the rising prevalence of chronic diseases and adoption of technologically advanced products, the global ambulatory infusion center market is expected to witness steady growth over the coming years.
Market Dynamics:
Growth in the geriatric population and expanding demographic of target conditions are the major drivers propelling the growth of the global ambulatory infusion center market. According to WHO, the global population aged over 60 is projected to nearly double from 12% to 22% between 2015 and 2050. Additionally, the prevalence of chronic diseases such as cancer is increasing rapidly. Cancer incidence is projected to increase by over 70% in coming decades. This is leading to an increasing demand for ambulatory infusion services like chemotherapy and IV hydration therapies. Furthermore, technological advancements in infusion pumps & chairs and growing popularity of home healthcare are expanding ambulatory services over hospital visits, thereby fueling the market growth during the forecast period.
Increasing Prevalence of Chronic Diseases is Driving the Demand for Outpatient Infusion Centers
Rising cases of chronic diseases such as cancer, diabetes, and autoimmune disorders are a major driver of growth in the global ambulatory infusion center market. Ambulatory care allows patients to receive intravenous therapies in an outpatient setting rather than being admitted to the hospital. This improves convenience for patients and lowers healthcare costs. As chronic conditions become more common due to an aging population and lifestyle factors, more patients will seek outpatient infusion options for long-term drug therapies. From 2021 to 2028, the number of new cancer cases diagnosed each year is expected to rise by over 25%, according to estimates. This will create significant demand for chemotherapy and other IV treatments administered at ambulatory infusion centers.
Growth of Specialty Pharmaceutical Drugs Opening New Opportunities
The expanding portfolio of specialty pharmaceutical drugs, including biologics and alternative infusion therapies, presents a huge market opportunity for ambulatory infusion centers. Specialty medications often require IV administration and close patient monitoring, making ambulatory centers an optimal setting for delivery. Several blockbuster specialty drugs have entered the market in recent years to treat complex conditions like rheumatoid arthritis, multiple sclerosis, and hemophilia. As these therapies continue to proliferate, they will drive higher patient volumes and revenue streams for outpatient infusion providers. Ambulatory centers can also see greater utilization for newer categories of specialty drugs like gene and cell therapies.
Shortage of Healthcare Workers Hindering Market Expansion
One key restraint in the global ambulatory infusion center market is the ongoing shortage of qualified healthcare personnel, particularly nurses. Ambulatory infusion therapies demand dedicated nursing staff to administer IV medications, monitor patients, and handle medical emergencies if needed. However, healthcare organizations worldwide face challenges recruiting and retaining nurses. The nursing workforce is aging and burnout is causing many to leave the profession. This hampers the ability of infusion centers to expand service capacity and treat more patients. During the pandemic, staffing woes worsened as nurses departed due to stresses of COVID-19 patient care. The talent shortage limits market growth potential and imposes costs on providers who must offer higher salaries.
Rising Competition from Alternative Care Settings
Competition from other alternative care locations that also provide outpatient infusion services acts as a market restraint. Physician offices, home health agencies, and standalone infusion clinics are all vying for market share in ambulatory infusion. Hospitals are also pushing more services into off-campus outpatient departments and ambulatory surgery centers. This diffusion of infusion care across multiple settings gives patients more choice in where to receive therapies. It also fragments provider networks and revenue streams in the ambulatory infusion center subsector. Centers must differentiate through expanded services, quality programs, and convenient locations/hours to maintain strong patient volumes and compete effectively.
Technological Advancements Creating New Efficiency Opportunities
Technological innovations enabling telehealth and remote monitoring present significant opportunities for ambulatory infusion center markets moving forward. Virtual care options allow providers to conduct pre-treatment visits and assessments from a distance, improving access in underserved areas. They also give clinicians ways to follow stable patients receiving long-term therapies from home via video chat or connected devices. This transition to hybrid in-center/virtual care delivery models could vastly expand the reach and capacity of infusion providers. Additional technologies like automated medication compounding systems can boost staff efficiency in centers. By leveraging telehealth and other modern tools, operators can optimize operations, take on higher patient loads, and potentially expand service regions.
Link - https://www.coherentmarketinsights.com/market-insight/ambulatory-infusion-center-market-4318
Key Development
- On March 2024, Flomed Infusion Services, company that offers outpatient infusion services has achieved the prestigious NICA Accreditation of Excellence for Ambulatory Infusion Centers, awarded by the National Infusion Center Association (NICA). This accreditation follows a thorough evaluation confirming FloMed's commitment to meeting the highest standards set by NICA.
- In February 2024, New Harbor Capital consolidated its investments in Ambulatory Infusion Care North Inc. and JLS Infusion Nurse Staffing Services LLC to establish Access Infusion Care. This unified entity will serve as New Harbor's primary platform for its infusion therapy strategy, targeting the acquisition of top-tier infusion service providers in underserved regions. The strategy focuses on diverse therapy offerings and varied delivery settings, aiming for substantial growth.
- In January 2024, Elevance 1Health, an American health insurance company announced its acquisition of Paragon Healthcare, Inc., a leading provider of critical infusible and injectable therapies. This move is set to bolster Elevance 1Health's presence in the ambulatory infusion services market.
- In August 2023, Uptiv Health, integrated infusion therapy company launched a pioneering hybrid infusion care company aimed at transforming the patient experience. The startup inaugurated its inaugural location in Michigan, USA.
Key Players: Option Care Health, Inc., CVS Health, UnitedHealth Group, McKesson Corporation , AmerisourceBergen Corporation, Walgreens Boots Alliance, CareCentrix, Inc., Bailey's Pharmacy, Cleveland Clinic’s Home Care Services, CHI Health at Home, InfuCare Rx, Altamira Healthcare, Healix, LLC, 1MedicoRx Specialty Pharmacy, ARJ Infusion Services, and PharMerica Corporation
