Infusion Management Market Size

Infusion Management Market Analysis

The infusion management market is expected to register a CAGR of 4.1% over the forecast period.

The COVID-19 pandemic has impacted the infusion management market. For instance, in 2021, the FDA approved an Emergency Use Authorization (EUA) for intravenous monoclonal antibody therapy. Intravenous (IV) therapy delivers medication directly into the patient's bloodstream. Monoclonal antibodies are designed to block virus attachment and entry into human cells to neutralize the virus. It is designed to limit the replication of the virus, and it was considered effective in treating patients who were at high risk of severe disease from COVID-19. Thus, the use of infusion therapy considerably increased during the initial time of the pandemic. Therefore, with the emergence of the new strain, the market may witness strong growth over the forecast period. However, the crisis of 2020 led to sharp shrinkage in demand, from which the industry is yet to recover fully.

The rising prevalence of various chronic diseases and advancements in technology and healthcare infrastructure are the major drivers for the market. For instance, according to the data published by the International Diabetes Federation in 2021, around 537.0 million adults were living with diabetes. By 2030 around 643.0 million people are expected to live with diabetes. It also reported that 3 out of 4 adults live with diabetes, and around 1 out of 2 adults (240.0 million) were living with undiagnosed diabetes in 2021. The same source also reported that more than 1.2 million adolescents and children are living with type 1 diabetes. Similarly, according to the WHO Report published in June 2021, 39 million children under the age of 5 years were overweight or obese. One in five children and adolescents globally is overweight. Incidences of obesity have been increasing fiercely over the past decades. Infusion therapy is frequently recommended by healthcare professionals in cases of chronic diseases. Therefore, the market is anticipated to witness significant growth over the forecast period owing to such instances.

The advancements in technology and increasing healthcare infrastructure in developed countries are also propelling the market's growth. For instance, as per the Destatis (Statistisches Bundesamt) data on healthcare expenditure in Germany, published in June 2022, Germany spent around EUR 441.0 billion in the healthcare sector. The expenditure accounted for 13.1% of the nation's GDP. The Federal Statistical Office (Destatis) reported that this was an increase of EUR 16.3 billion, or 31.5%, compared to 2019. The increase in healthcare expenditure in the nation is expected to add to the market's growth. Similarly, according to the Eurostat healthcare expenditure statistics published in December 2021, Italy spent more than EUR 155,249 million in the healthcare sector. The increasing healthcare expenditure may encourage many new players to enter the market, which, in turn, will lead to the introduction of new innovative product lines. Therefore, considerable market growth is expected over the forecast period.

However, the high cost associated with the procedure is likely to hinder the market's growth over the forecast period.