Chemotherapy Devices Market Growth to be Buoyed Beyond US$ 21.1 Billion by 2027, Catheters and Ports in Cancer Treatment
Global Chemotherapy Devices Market – Insights
Chemotherapy is administrated intravenously through a venous access device (VAD). Various types of devices are available including cannula, catheters, and implanted ports. The choice of the device depends on the type of therapy a patient is going to have and physical condition of the patient. A central venous access device (CVAD) is made of a non-irritant material, such as silicone, which can be left in place for several weeks or months. CVAD can be used to administer fluids and drugs and can also be used to take blood samples. The main sites for central venous access devices are the external and internal jugular, and sub-clavian veins. Other potential access sites include the cephalic vein in the deltopectoral groove, axillary vein, and femoral vein.
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The global chemotherapy devices market was valued at US$ 10.9 billion in 2017, and is expected to witness a CAGR of 7.7% over the forecast period (2018–2026).
Global Chemotherapy Devices Market Share (%) Analysis, By Product, 2017
Source: Coherent Market Insights Analysis (2018)
Increasing demand for chemotherapy and rising cancer incidences worldwide is expected to drive the global chemotherapy devices market growth
According to the World Health Organization (WHO) report, cancer is the second leading cause of death worldwide, and it was responsible for an estimated 9.6 million deaths in 2018. Increasing consumption of tobacco and alcohol, and rising geriatric population base are primary reasons behind surge of cancer incidence rates. According to the Global Burden of Disease 2015 study, tobacco use is the major risk factor for cancer and is responsible for around 22% of cancer deaths worldwide.
Moreover, with rising incidence of cancer the demand for its treatment is also increasing eventually driving the global chemotherapy devices market growth. According to the National Cancer Institute (NCI), in 2016, an estimated 15.5 million cancer survivors were reported in the U.S. and the number is expected to increase to 20.3 million by 2026.
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Global Chemotherapy Devices Market Restraints
Chemotherapy devices can cause discomfort to patients. For instance, during insertion of a skin-tunneled catheter or port, the needle or guide wire can scratch the top of the lung causing an air pocket. Sometimes there may be bruising at the site where the needle went into vein or there might be damage to an artery or nerve.
Moreover, there is a risk of infection. The risk is typically between one to three in 100 cases, however, it can be higher depending on many other factors, such as diagnosis or treatment. There is also a risk of a clot formation around the port. The CVAD can split or become damaged or it can get dislocated if no longer in the correct position, so it needs to be removed. All these factors can decrease the use of chemotherapy devices, eventually hampering the global chemotherapy devices market growth.
Global Chemotherapy Devices Market - Regional Insights
Europe chemotherapy devices market is expected to generate significant revenue share during the forecast period, owing to increasing government expenditure on chemotherapy procedures. According to the National Health Service (NHS) 2016 report, chemotherapy is the major investment within NHS England’s Specialized Commissioning, accounting for an estimated US$ 1.8 billion a year.
Asia Pacific chemotherapy devices market is expected to grow at highest CAGR, owing to increasing geriatric population and incidence of various cancer among regional population. According to the National Cancer Institute, around 57% of new cancer cases in 2012, were reported in emerging economies such as Central America and parts of Asia and Africa, while 65% of cancer deaths also occurred in these regions. Furthermore, according to the WHO 2018 report, around 70% of deaths from cancer occur in low- and middle-income economies.
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Global Chemotherapy Devices Market Value (US$ Bn) & Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2018)
Global Chemotherapy Devices Market - Competitive Landscape
Key players operating in the global chemotherapy devices market include Advanced Chemotherapy Technologies, Baxter International, Becton, Dickinson, B. Braun, Fresenius Kabi, Halyard Health, ICU Medical, Moog Inc., Micrel Medical, Smiths Group, Terumo Corporation, and Zyno Medical.
- Global Chemotherapy Devices Market, By Product:
- Non-tunnelled catheters
- Tunnelled central catheters
- Surgically implantable catheters or ports
- Peripherally inserted central catheters (PICC)
- Global Chemotherapy Devices Market, By End User:
- Home Care
- Global Chemotherapy Devices Market, By Region:
- North America
- Asia Pacific
- Latin America
- Middle East
- Company Profiles
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