by Market Overview:
Ambulatory infusion centers are alternative sites to hospitals for infusion therapy. They provide infusion treatments to patients suffering from chronic conditions such as cancer, autoimmune disorders, respiratory diseases, and inflammatory bowel disease in an outpatient setting. The centers use advanced technologies such as EHR systems, telehealth, and remote patient monitoring to enable contactless care delivery amid the COVID-19 crisis. This has helped patients receive treatments safely while minimizing risks of exposure. The centers offer benefits like convenience, lower costs, and improved patient experience compared to hospital-based treatments.
Market Dynamics:
The growing prevalence of chronic diseases is a major factor driving the ambulatory infusion center market growth. For instance, according to the Centers for Disease Control and Prevention, in the U.S., about 133 million Americans were reported to have at least one chronic disease in 2019. Furthermore, the availability of advanced technologies and contactless care delivery models are gaining high traction. Ambulatory centers are actively adopting telehealth and remote patient monitoring solutions to continue treatments and therapies for chronic conditions during the pandemic while maintaining social distancing norms. Also, the focus on cost containment and value-based care is prompting healthcare providers and payers to shift treatments from inpatient to low-cost outpatient settings like ambulatory infusion centers. This transition is expected to further propel the market growth over the forecast period.
The global Ambulatory Infusion Center Market Size is estimated to be valued at US$ 60883.85 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The global Ambulatory Infusion Center market is dominated by chemotherapy infusion segment. Ambulatory infusion centers provide various infusion therapies including chemotherapy, hydration, antibiotic therapy, IVIG therapy, pain management, nutrition therapy etc. However, the chemotherapy infusion segment holds the largest market share due to rising prevalence of cancer across the globe. According to WHO, cancer burden is expected to grow multifold in coming years which will generate significant demand for outpatient chemotherapy treatment in ambulatory infusion centers.
PEST Analysis
Political: Government initiatives towards increasing healthcare access through supporting infrastructure development of ambulatory service centers will positively impact the market growth. Recent policies related to price control of high cost drugs may restrain the market to some extent.
Economic: Rising per capita healthcare expenditure along with growing population with chronic illnesses are driving the Ambulatory Infusion Center market growth. However, infrastructure development related high initial cost may deter market growth.
Social: Increasing preference towards outpatient and home-based healthcare services due to benefits like convenience and flexibility is a major factor augmenting the Ambulatory Infusion Center market growth.
Technological: Adoption of state-of-the-art healthcare technologies like EMR systems, automated medication dispensing systems in Ambulatory Infusion Centers are helping improve workflow efficiency and patient outcomes.
Key Takeaways
The global Ambulatory Infusion Center market size is expected to reach US$ 60883.85 Mn by 2023, exhibiting a CAGR of 6.7% during the forecast period. Ambulatory infusion centers provide an affordable and convenient alternative to hospital-based outpatient infusion therapy. The growing geriatric population suffering from chronic diseases like cancer, congestive heart failure is a key driver boosting the market growth.
Regionally, North America dominated the global market and accounted for over 40% market share in 2023 due to supportive reimbursement policies and increasing preference for home-based infusion services in the US. However, Asia Pacific is anticipated to witness fastest growth during the forecast period owing to rising medical tourism, improving healthcare infrastructure and growing penetration of major market players in the region.
Key players operating in the Ambulatory Infusion Center market are Option Care Health, PharmaScript, Cleveland Clinic, Stoughton Health, Coram CVS, Hattiesburg Clinic, UnitedHealth Group, UK HealthCare, CHI Health, PharMerica, Beacon Health System, Inc., Arnot Health, Inc., IVX Health and Precision Healthcare. Major players are focusing on strategic expansion plans like acquisitions, partnerships to strengthen their market presence and service offerings.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
