PUBLISHER: Grand View Research | PRODUCT CODE: 1362904
PUBLISHER: Grand View Research | PRODUCT CODE: 1362904
The global chemotherapy at home services market size is expected to reach USD 2.63 billion by 2030, based on a new report by Grand View Research, Inc.. It is projected to register a CAGR of 8.28% during the forecast period. The market's growth can be attributed to the increasing shift of patients from hospital to home care settings. Moreover, the lower cost of services compared to hospital settings is expected to boost the demand for the market.
Cancer patients have rapidly adopted technologically advanced or improved chemotherapy devices and telemedicine to benefit from treatment at remote locations with patient safety and convenience. This is expected to boost the growth of the market over the forecast period. Many portable devices have been launched recently to improve the administration of chemotherapy drugs, contributing to the market's growth. For instance, in March 2022, Shanghai MicroPort Lifesciences Co., Ltd. received marketing approval for "AutoEx Chemotherapy Infusion Pump" from the National Medical Products Administration (NMPA) of China.
The COVID-19 pandemic positively impacted the market owing to increased demand and physicians' promotion of chemotherapy at home services. Moreover, due to the shortage of beds in the hospital settings, companies were focusing on transitioning patients from the hospital to in-home, creating demand for the services. Hence, many service providers launched services to cater to the growing demand for chemotherapy post-pandemic. For instance, in September 2022, Jivika Healthcare launched the ChemoAtHome service in Mumbai to provide access to affordable and high-quality cancer care services to patients.