LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global implantable ports market to grow at a CAGR of more than 3% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global implantable ports market for 2017-2021. The report also lists single-lumen implantable ports and double-lumen implantable ports as the two major product segments, of which the single-lumen implantable ports accounted for 58% of the market share in 2016.
According to Barath Palada, a lead analyst at Technavio for cardiovascular devices research, “There is an increased demand for implantable ports during the administration of chemotherapy, blood transfusions, antibiotics and IV fluids. The administration of medication or nutritional fluid through the IV route will increase the demand for implantable ports.”
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Technavio healthcare and life sciences analysts highlight the following three market drivers that are contributing to the growth of the global implantable ports market:
- Growing usage of implantable ports in chemotherapy
- Increasing prevalence of chronic conditions which require implantable ports
- Advances in technology
Increased usage of implantable ports in chemotherapy
The rising number of cancer patients is expected to drive the growth of the implantable ports market. According to the NIH, approximately 1.68 million new cases of cancer had been diagnosed in the US, and 0.59 million people died from the disease in 2016. Individuals with cancer undergo various treatment therapies, such as the use of chemotherapeutic agents. For the precise delivery of drugs, implantable ports are required. This will lead to the increased use of implantable ports, which will propel market growth.
Additionally, developing economies are increasingly focusing on the use of chemotherapy. Physicians in developing countries such as China and India consider chemotherapy as the gold standard for cancer treatment.
“Also, the increased need for transfer blood and deliver antibiotics for certain treatments will drive the demand for implantable ports. Therefore, widespread usage of chemotherapy for the treatment of various chronic cancers will drive the demand for implantable ports globally,” adds Barath.
Increasing prevalence of chronic conditions that require implantable ports
The growing prevalence of chronic conditions that require implantable ports will increase the demand for implantable ports. A sedentary lifestyle negatively affects the homeostasis of the body, making individuals susceptible to a variety of disorders such as CVDs, diabetes, Chronic Obstructive Pulmonary Disease (COPD), End-stage renal disease (ESRD), urology disorders, and other chronic illnesses. Treatment of all of these diseases has become critical, leading to hospitalization.
According to the CDC’s 2013 report statistics, the number of patients being treated for ESRD worldwide was estimated at approximately 3,400,000 and is expected to grow at a rate of 6% each year. These chronic diseases require diagnosis and treatment, daily monitoring, and medication that can be administered through venous access.
Advances in technology
Vendors are increasingly focusing on developing new implantable ports with advanced features for better delivery of medications or fluids into the body. In addition, vendors are also focusing on reducing safety issues. For instance, AngioDynamics is offering implantable ports with pressure activated safety valve technology, which leads to positive outcomes for patients requiring venous access. Additionally, vendors are developing hybrid implantable ports that are made from a combination of titanium and plastic, which helps to reduce contamination issues.
Similarly, Teleflex is offering the ARROW polysite low profile hybrid port, which is available in different sizes and provides the comfort needed for long-term treatment. It is designed to reduce the accumulation of catheter-related thrombus. This product also reduces the need for heparin, antibiotics or antimicrobials. Such advancements are expected to drive market growth.
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