WHAT IS INFUSION THERAPY
It is a technique to administer injectable medication by having access to an open peripheral vein. These veins are accessed mainly through scalp vein set, needle & different types of catheter viz; IV Catheter. This briefly means treating a patient with infusion solutions which are applied to him intravenously. Every solution has an appropriate pharmaceutical ingredient which is delivered to the person in appropriate amounts to treat the underlying medical illness. The reason infusion therapy is used is to treat severe or certain chronic diseases as the therapy provides the medicine directly to the bloodstream of the patient. It also helps in treating diseases or infections which are unresponsive to oral antibiotics.
HISTORY OF INFUSION THERAPY
IV therapy has been a part of medicine for over a hundred years now. Intravenous technology was first published in 1883 by Dr. Thomas Latta during a cholera epidemic in Britain. The standard IV use of saline solutions did not begin until 1902. Intravenous therapy was further developed in the 1930s but was not widely available until the 1950s.
Global Home Infusion Therapy
The New Global Trend
Home infusion therapy involves the intravenous or subcutaneous administration of drugs or biologicals to an individual at home. The components needed to perform home infusion include the drug (for example, antivirals, immune globulin), equipment (for example, a pump), and supplies (for example, tubing and catheters). Likewise, nursing services are necessary to train and educate the patient and caregivers on the safe administration of infusion drugs in the home.
Visiting nurses often play a large role in home infusion. Nurses typically train the patient or caregiver to self-administer the drug, educate on side effects and goals of therapy, and visit periodically to assess the infusion site and provide dressing changes.
The home infusion process typically requires coordination among multiple entities, including patients, physicians, hospital discharge planners, health plans, home infusion pharmacies, and, if applicable, home health agencies.
Major factors driving the growth of the home infusion therapy market are :
- Cost-Effective Devices
- High preference for homecare facilities coupled with the rise in the geriatric population.
- Growing need to minimize the length of inpatient stays in hospitals is predicted to drive home infusion therapy market growth.
- Immunocompromised patients, pediatrics, and the increased prevalence of chronic diseases such as hospital-acquired infections and diabetes are expected to contribute to the Home Infusion Therapy market expansion.
- Convenient and user-friendly.
What Lies Ahead
The home infusion therapy market was valued at USD 20,976 million in 2020 and it is expected to reach USD 31,415 million by 2026, registering a CAGR of 6.5% during the forecast period.
As cases of COVID-19 had been increasing in the year 2020, the use of alternate site solutions rose in high-demand, and home and specialty infusion providers played a critical role in supporting patients. In April 2020, the American Society of Clinical Oncology (ASCO) issued guidelines for the infusion therapies for hospital and home infusion services, in order to ensure the safety of patients.
The growth of the market is attributed to improved patient outcomes, cost-efficiency, and patient convenience provided by home infusion therapy. The growing number of baby boomers suffering from decreased mobility profiles such as osteoarthritis, diabetes will boost the demand for home infusion therapy.
Moreover, a rising preference for home care is expected to have a positive impact on the demand for home infusion products and services. The increasing user-friendliness of new generation infusion pumps has also been driving their usage in-home care settings. Most of the infusion pumps designed for home care are lightweight, mobile, and easy-to-use so that patients can also operate the pumps by themselves if needed.
The rising need to reduce the duration of inpatient stays is anticipated to fuel the market development. According to the American Hospital Association, around 36,241,815 hospital admissions were there in all the US hospitals during the year 2019. This has encouraged the development of strategies for the administration of infusion therapy at home or alternate healthcare settings which will is also likely to contribute to the market growth.
While hospitals have rapidly adopted smart infusion pumps with interesting features, such as EHR integration, drug libraries, and medication safety software, most home infusion providers continue to use traditional infusion pumps. However, there has been a growing trend for up-gradation of equipment owing to its increasing demand, especially in the developed countries.
Furthermore, extensive application in delivering fluids containing medications and nutrients-controlled dosages is expected to propel the market growth. The advent in technology such as CADD-Solis Ambulatory Infusion Pump by Smiths Medical, catering to the requirements of home care like portable and user-friendly pumps, is also anticipated to fuel the market development.