Global Chemotherapy Devices Market Overview
The key driver impacting the Chemotherapy devices market is the growing prevalence of cancer across the globe. For instance, the WHO report, estimations show that globally, cancer is the second most leading death cause and accounts for 9.6 million deaths in 2018. There are one in six deaths happen because of cancer. The most common cancers prevailing across the globe include Lung cancer (2.09 million cases), Colorectal (1.80 million cases), Breast cancer (2.09 million cases), and Prostate (1.28 million cases). Moreover, the growing demand for chemotherapy worldwide contributes to the chemotherapy devices market demand in the coming years.
According to Value Market Research, the global Chemotherapy Devices market size was valued at about USD 12.5 billion in 2017 and is estimated to grow at a CAGR of around 7.5% during the forecast period.
The growing awareness about chemotherapy among consumers and rising demand for technologically advanced products are likely to mount the market demand in the forecast period. However, the discomfort associated with the use of devices may hamper the market in the long run. In addition, the risk of infections linked with devices is negatively impacting market demand. Nonetheless, the industry trends, such as the growing technological advancement in chemotherapy devices and rising healthcare expenditure, are expected to offer several beneficial market opportunities to the key players.
The chemotherapy devices market is vast, with many local and global players. The market leaders follow many strategies to enhance their position in the market, such as contracts, extending product portfolio, product upgrades, acquisitions, product upgrades amalgamation, to enhance their market share globally. The key players studied in the report includes Advanced Chemotherapy Technologies Inc., Becton, Dickinson, and Company, Fresenius Kabi AG, Moog Inc., Smiths Group plc., Baxter International Inc., Braun Melsungen AG, Halyard Health, Inc., ICU Medical, Inc., and Micrel Medical Devices S.A.
In this research report, the Chemotherapy devices market is segmented by type, end-users, and region.
Analysis by Type:
By type, the report is categorized into LVP (large volume pump) and syringe pump. The LVP (Large Volume Pump) segment dominates the type segment with over 20% share in 2020. It is due to the growing use of LVP as it can infuse large volumes of nourishment or medication fluids. Moreover, the increasing usage of chemotherapy for treating cancer contributes to the growth of the LVP (large volume pump) segment in the forecast period.
Analysis by End-Users:
By end-users, the report is categorized into Hospital, Clinics, and Home Care. The Hospital segment dominates the end-user segment with over 55% share in 2020. It is due to the rise in the number of hospital visits and hospital stays globally. Moreover, the hospital has advanced healthcare settings, and the presence of experienced healthcare professionals contributes to the progress of the hospital segment in the forecast period.
Analysis by Region:
In the regional outlook of the global Chemotherapy Devices market, the North America region is expected to have the second-largest market share of around 35% in the forecast period. It is due to the increasing incidence of cancer in the U.S. Moreover, well-established health care infrastructure and high government spending in enhancing the healthcare sector contribute to the tremendous market growth across North America.
Market Segmentation covered in the Report:
By Type
- LVP (Large Volume Pump)
- Syringe Pump
By End Users
- Hospital
- Clinics
- Home Care
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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