Chemotherapy Devices Market to Find Better Growth with US$ 21.1 Billion By 2026 | CAGR: 7.7%: Coherent Market Insights
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The Global Chemotherapy Devices Market, by Product (Catheter, Cannula, Pump, and Others), by End User (Hospitals, Clinics, and Home Care), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 10.9 billion in 2017, and is expected to register a CAGR of 7.7% over the forecast period (2018 – 2026).
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Chemotherapy is a type of cancer treatment that employs anti-cancer drugs as a part of the standardized chemotherapy regimen. It is given with an intent to prolong life or reduce symptoms. Advancements in technology in cancer treatments such as chemotherapy and rising investment in cancer care are reducing the number of cancer deaths worldwide. According to the Cancer Journal for Clinicians 2016 study, the number of cancer survivors continues to grow in the U.S. due to increasing number of new cancer diagnoses resulting from a growing and aging population. According to the same source, over 15.5 million U.S. citizens with a history of cancer were alive on January 1, 2016 and this number is projected to reach 20.3 million by January 1, 2026. Chemotherapy is most often administrated via a vein (intravenously) using devices such as catheter and ports. Long-term central venous access devices are essential for the management of cancer patients, as they minimize the discomfort of frequent venipuncture and cannulation. A catheter reduce the number of times to insert a needle in patient vein. According to the WHO 2017 report, in most upper and middle income countries, the chemotherapy dosage for some treatments and for patients with metastatic diseases is done using implantable central venous catheters or peripherally inserted central catheters (PICC). Manufacturers in the chemotherapy devices market are focused on technological advancements in devices. For instance, in May 2018, Advanced Chemotherapy Technologies announced development of an implant, about the size of a large coin for direct delivery of chemo agents into the pancreas. In 2017, RenovoRx received FDA approval for RenovoCath dual-balloon infusion catheter to include the delivery of chemotherapeutics. Browse 24 Market Data Tables and 25 Figures spread through 170 Pages and in-depth TOC on “Chemotherapy Devices Market, by Product (Catheter, Cannula, Pump, and Others), by End User (Hospitals, Clinics, and Home Care), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
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Key Takeaways of the Global Chemotherapy Devices Market:
- The global chemotherapy devices market is expected to expand at a CAGR of 7.7% during the forecast period (2018–2026), owing to rising cancer incidence coupled with increasing consumption of tobacco and alcohol, and rising geriatric population base
- Among product, the pumps segment is expected to generate significant revenue in 2018, due to high price as compared to other products.
- Major players operating in the global chemotherapy devices market include Advanced Chemotherapy Technologies, Baxter International, Becton, Dickinson Company, B. Braun, Fresenius Kabi, Halyard Health, ICU Medical, Moog Inc., Micrel Medical, Smiths Group, Terumo Corporation, and Zyno Medical
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