Singapore Home Infusion Therapy Market

Singapore Home Infusion Therapy Market Executive Summary

The Singapore Home Infusion Therapy market is at around $43.2 Mn in 2023 and is projected to reach $77.4 Mn in 2030, exhibiting a CAGR of 8.7% during the forecast period.

Home infusion involves the administration of a medication through a needle or catheter at a patient’s home instead of a hospital or other medical facility. For individuals requiring long-term therapy, inpatient care is not only tremendously expensive but also prevents the individual from resuming normal lifestyle and work activities. Home infusion is a safe and effective alternative to inpatient care for a variety of therapies and disease states, both acute and chronic. Conditions commonly requiring infusion therapy include infections that are unresponsive to oral antibiotics, cancer and cancer-related pain, dehydration, gastrointestinal diseases or disorders which prevent normal functioning of the gastrointestinal system, immune system diseases (Crohn’s Disease, rheumatoid arthritis, multiple sclerosis) and more. Some infusion treatments require infusions every day, while others may be less frequent such as every few weeks or months. Usually, for the majority of patients and drugs, home infusion is safe. However, home infusion clinicians will evaluate a patient’s suitability for home infusion throughout the intake phase. The evaluation aspects include the safety of the home environment, safety of the medication delivery method, capability to learn and self-manage for patients and/or caregivers, and the capability to store medications. Thus, nurses play a crucial role in home infusion therapy as they train patients and caregivers on how to safely administer the medication, monitor for side effects, and provide ongoing support. Moreover, coordination between a number of parties is usually necessary for the home infusion procedure, including patients, doctors, hospital discharge planners, health plans, home infusion pharmacies, and, home health organizations.

In Singapore, there is a high prevalence of chronic diseases, especially hyperlipidemia, hypertension, diabetes, and obesity which leads to an increase in morbidity and mortality. Therefore, the Singapore Home Infusion Therapy Market is driven by significant factors such as the rising prevalence of chronic diseases, expanding geriatric population, and technological advancements. However, uncertain reimbursement policies, limited availability of nurses, and infrastructure and accessibility issues restrict the growth and potential of the market.

The major players of the Singapore Home Infusion Therapy Market are Terumo Corporation, Nipro Corporation, Baxter International, ICU Medical (Smiths Medical), Becton, Dickinson and Company (BD), and Fresenius Kabi, among others.

Market Dynamics

Market Growth Drivers

Rising Prevalence of Chronic Diseases: According to the Ministry of Health (MoH) of Singapore, the prevalence of hyperlipidaemia, hypertension, diabetes, and obesity was 39.1%, 37.0% 8.5%, and 11.6%, respectively, for 2021-2022. Home infusion is a safe and effective method to manage chronic conditions as it is convenient which leads to improved patient adherence and treatment outcomes. For example, chemotherapy medications can be safely given to cancer patients at home, which lowers hospital stays and enhances patient comfort while receiving treatment. For patients with extensive diabetes care needs, insulin or other drugs can also be administered at home by infusion. Consequently, there is an increasing need for novel and efficient treatment approaches due to the increased prevalence of chronic illnesses. Because of its affordability, flexibility to different chronic conditions, and ease of use, home infusion therapy is becoming more and more popular as a means of managing chronic illnesses and enhancing patient quality of life, which is driving the market’s overall expansion.

Expanding Geriatric Population: According to Statista, the share of residents aged 65 and older has increased from the past many years and was 16.6% in the year 2022. By 2035, it is estimated that around a third of Singaporeans will be aged 65 and above, while the median age is also expected to rise from 39.7 in 2015 to 53.4 in 2050. People are more prone to long-term illnesses including diabetes, heart failure, and autoimmune disorders as they age. Many times, these illnesses necessitate long-term care using drugs that may be efficiently administered at home via infusion therapy. Moreover, the aging population is marked by a decline in mobility, which makes regular hospital visits difficult. A practical substitute is home infusion therapy, which enables patients to receive treatment in the comfort of their own homes, enhancing their quality of life and lessening the strain on caregivers. Furthermore, hospital environments can raise the risk of infection for older persons, who are more vulnerable to illnesses. However, home infusion therapy can improve patient outcomes by lowering the chance of contracting infections acquired outside of a hospital. The market for home infusion therapy is ultimately driven by the number of potential patients who may need it to manage chronic diseases, which is generally increased with the aging population.

Technological advancements: The home infusion therapy market is expected to grow at a high rate due to the numerous advantages that technological advancements provide. When compared to conventional intravenous infusion techniques, wearable infusion devices provide patients more flexibility and comfort by enabling continuous or long-term drug delivery subcutaneously. Improved insertion methods, a lower risk of infection, and longer wear periods are all provided by advanced catheter technologies, which increase patient comfort and treatment compliance. These technical developments result in better patient acceptance, a wider range of treatments, greater efficiency for medical professionals, and lower costs, all of which raise demand and fuel the market for home infusion therapy.

Market Restraints

Uncertain Reimbursement Policies: The varied and unclear reimbursement policies from private insurance companies and the government can limit patient access to home infusion therapy. Even though, home infusion therapy is much more affordable to patients rather than receiving in-patient care, there can be high costs associated with certain speciality infusion therapies. These high costs associated with specialty infusion treatment may discourage patients, especially those without adequate insurance coverage. Due to this, the Home Infusion Therapy Market gets affected as it faces resistance from the patients.

Limited Availability of Nurses: One of the major challenges of home infusion therapy is the shortage of trained nurses which results in fewer people being able to receive care at home and lengthier wait times. Prolonged wait times eventually prevents patients from using home infusion therapy and choose an alternative treatment. To attract and retain qualified healthcare professions, providers of home infusion therapy may need to offer higher salaries. This increases the operating expenses, which leads to overall high cost of the treatment, further restricting the market access. Thus, the market for home infusion therapy is constrained by a lack of competent workers which ultimately slows the market growth.

Infrastructure and Accessibility Issues: In isolated or rural places, the availability of home infusion therapy services may be restricted. Patients who do not have access to qualified clinicians and necessary equipment for the home infusion therapy suffer. Additionally, the growth of home infusion therapy in some areas may not have sufficient cold chain logistics for the storage and transportation of temperature-sensitive drugs. As a result, this impacts the expansion of the home infusion therapy market as a whole.

Regulatory Landscape and Reimbursement Scenario

The Health Sciences Authority (HSA) is the board under the Ministry of Health (MoH) of Government of Singapore which is responsible for ensuring the safety, efficacy, and quality of pharmaceuticals and medical devices, thus safeguarding the public health. The HSA conducts a thorough evaluation for applications from pharmaceutical companies seeking to register and market new drugs in Singapore. 

The HAS’s responsibility extends beyond just granting marketing authorizations, and includes collecting and analysing data on adverse drug reactions reported by the patients. Also, the HAS safeguards the participants of the clinical trial by ensuring their ethical principles and safety above all. Overall, the HAS plays a crucial role in protecting patient health, ensuring quality, and promoting innovation.

The reimbursement scenario in Singapore’ s healthcare system is aimed at achieving affordability and access to quality care for all patients. Regarding the public healthcare system, Singapore has a two-tiered healthcare system that consists of a subsidized public system (MediShield Life and MediSave) and a private system. The MediShield Life is an obligatory national health insurance program that covers the basics of hospital expenses in certain private hospitals with Class B2 and C ward accommodations as well as authorized public hospitals. MediSave is a mandated savings program where people save funds for their future medical expenses. With specific restrictions, it can be used in both public and private hospitals for both inpatient and outpatient care, including the certain medicines. The Integrated Shield Plans (IPs) are voluntary private health insurance plans that complement MediShield Life by providing broader coverage, including higher hospitalization reimbursements, coverage for outpatient care and medications, and coverage in private hospitals with higher-class wards

Competitive Landscape

Key Players

Here are some of the major key players in the Singapore Home Infusion Therapy Market:

• Terumo Corporation
• Nipro Corporation
• Baxter International
• ICU Medical (Smiths Medical)
• Becton, Dickinson and Company (BD)
• Fresenius Kabi
• Option Care Health
• Medtronic
• B. Braun Melsungen AG
• CareFusion Corporation