How the Outbreak of COVID-19 Impacted the Home Infusion Therapy Market?
The demand for home infusion therapy has boosted during the coronavirus pandemic period. Home infusions have provided a safer alternative to inpatient or outpatient infusion therapy. The growing preferences of homecare treatment among geriatric patients is predicted to provide opportunities for market investors in the coming future.
Home infusion is a safe and budget-friendly method to provide treatment to patients with minimal intrusion to their daily lives. In the early years, patients who received infusion therapy remained in the inpatient setting for the entire duration of the therapy. For patients with the requirement of long-term therapy, inpatient care became too expensive and it even prevented the individuals from living their normal lifestyle. The demand for alternate infusion site locations has increased during the coronavirus pandemic. Home and specialty infusion providers are playing an essential role in providing support to the patients.
COVID-19 and Home Infusion Therapy Market
The demand for home infusion therapy has boosted during the pandemic period. Majority of patients are preferring to receive help at home rather than visiting hospital or any healthcare institution. Besides, patients requiring long term treatment do not prefer going out of their home in the pandemic owing to the compromised immunity. These factors are expected to upsurge the growth of the home infusion therapy market during the unprecedented times.
Home infusion providers are capable of integrating data in new ways to serve the patient properly and getting overwhelmed by the complications of COVID-19. Cloud-based home infusion software solutions can strengthen the ability of an agency to operate remotely. Majority of the companies are heavily investing more in R&D in the field, creating growth opportunities for investors. For example, in April 2020, B. Braun infusion pumps received the Food and Drug Administration (FDA) emergency use authorization with nebulizers for treating the COVID-19 patients for all ages.
The National Home Infusion Association (NHIA) has recommended to utilize and follow the existing policies wherever applicable. In addition, it suggested to create COVID-19 specific policies, such as conserving personal protective equipment (PPE), frequent handwashing, restricting visitors during infusion, social distancing, etc.
Measures to be Taken During the Pandemic
Home infusion can always be risky even if it is applied with proper protocols. Home infusion sites are suggested to develop and implement their own protocols for high-risk COVID-19 patients and personnel to sustain a state-of-control. Although, home infusion does not come without risk even with proper protocols. Home infusion sites should develop and implement its own protocols for high risk COVID-19 patients and personnel to maintain a state-of-control. The staff should follow proper guidelines in case they get infected by the virus. Same applies for a patient who’s confirmed of COVID-19. In such cases, the caretakers should wear advanced PPE, N-95 respirators, gowns, goggles, gloves, and face shields.
During the pandemic, home infusions have provided a safer alternative to inpatient or outpatient infusion therapy. Another essential practice that must be followed for home infusion is that the home should be cleaned and disinfected properly before the physicians enter and after they leave.
Amid the COVID-19 pandemic, the stay-at-home orders, physician office closures, and hospitals re-directing or deferring routine, and elective procedures have created a focus on patient adherence, safety, wellness, and access.
The Final Forecast
The home infusion therapy market is an industry of immense growth. Estimates peg the home infusion therapy market at over 49.5 billion USD by 2027 across the globe. Now, the time is to capitalize on the promise of telehealth and software in virtually assisting infusion clients, preserving nursing time, and embracing the future as software can support safer interventions and clinical decision-making. The growing preferences of homecare treatment among geriatric patients and the continuous technological advancements is predicted to provide opportunities for market investors in the coming future.
Home infusion therapy is a specialty industry that deserves specialized software and innovations, which can both address immediate concerns of coronavirus and sets in place the foothold for optimal home infusion therapy in the years to come.