Ambulatory Infusion Center Market Is Estimated To Witness High Growth Owing To Rise In Geriatric Population Requiring Continuous Care
Ambulatory infusion centers provide continuous drug administration to patients requiring long-term treatment. Services offered at these centers include chemotherapy, antibiotic therapy, pain management, hydration, and nutrition. These centers offer treatment in an outpatient setting at reduced costs compared to hospitals. This enables patients to conveniently receive care close to their homes or workplaces. The global ambulatory infusion center market is estimated to be valued at US$ 60883.85 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The ambulatory infusion center market is witnessing high growth owing to rise in geriatric population requiring continuous care. As per the United Nations Population Fund, the number of people aged over 65 years is projected to increase from 703 million in 2019 to 1.5 billion in 2050 globally. This is expected to fuel demand for ambulatory infusion services. Additionally, preference for outpatient care over inpatient hospital treatment is another major factor augmenting market growth. Ambulatory infusion provides significant cost savings compared to conventional hospitalization, along with comfort of receiving treatment close to home or workplace. Technological advancements enabling home-based and mobile infusion therapies offer lucrative opportunities for market players. However, dearth of nursing staff may hamper market growth over the forecast period.
SWOT Analysis
Strength:
- Ambulatory infusion center provide convenient healthcare access to patients as treatments are provided on an outpatient basis without requiring an overnight hospital stay. This reduces burden on hospitals and saves costs for patients.
- Specialized healthcare professionals and modern medical equipment available at ambulatory infusion centers ensure safe and effective administration of therapies.
- Centers focus solely on infusion therapies allowing them to develop expertise in specific treatment areas like oncology, rheumatology etc.
Weakness:
- Outpatient facilities have limited capabilities compared to hospitals and may not be suitable for complex or high-risk infusion treatments.
- Reliance on medical staff traveling between facilities can lead to delays or inconsistencies in care if last minute schedule changes are needed.
Opportunity:
- Rising incidence of chronic diseases like cancer requiring long-term infusion therapies is driving higher demand for convenient outpatient treatment options.
- Ageing population prone to multiple health issues will further increase need for specialized ambulatory services.
Threats:
- Economic downturns may reduce individuals' ability to afford expensive specialty drug treatments administered at infusion centers.
- Strict regulations and quality standards infuse healthcare raise compliance costs for ambulatory facilities.
Key Takeaways
The Global Ambulatory Infusion Center Market Scope is expected to witness high over the forecast period of 2023 to 2030 supported by rising chronic disease prevalence.
Regional analysis: North America accounts for the largest share of the global ambulatory infusion center market currently. This is attributed to factors such as the rising incidence of chronic diseases, advanced healthcare infrastructure, favorable reimbursement policies, and presence of major market players. However, Asia Pacific is expected to grow at the fastest pace during the forecast period supported by growing medical tourism, increasing healthcare spending, and expanding healthcare facilities in countries such as China, India and Japan.
Key players operating in the Ambulatory Infusion Center market are Johnson & Johnson (DePuy Synthes), Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc, NuVasive, Inc., Globus Medical, Inc., Wright Medical Group N.V., Arthrex, Inc., DJO Global, Inc., Össur hf., CONMED Corporation, Breg, Inc., Orthofix Medical Inc., Bioventus LLC. They focus on new product launches, partnerships and mergers & acquisitions to strengthen their market position.
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