Rising occurrences of target conditions requiring implantable ports is one of the significant factors influencing the market growth.
Market Size – USD 592.7 Million in 2018, Market Growth – CAGR of 5.3%, Market Trends – Growing inclination for using disposable implantable ports
The Global Implantable Ports Market is expected to reach USD 951.5 Million by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the increasing application of implantable ports.
Cancer has a significant impact on the society in the U.S. and across the globe. It has been estimated that 1,735,350 new cancer cases were diagnosed in the U.S., and 609,640 people suffered death from the disease. The number of new incidences of cancer is 439.2 per 100,000 men and women annually, and the number of cancer-related morbidity is 163.5 per 100,000 men and women annually. Moreover, it has been estimated that in 2017, 15,270 children and adolescents in the age range of 0-19 years were diagnosed with cancer, out of which 1,790 suffered death owing to the disease. In the year 2017, an estimated USD 147.30 billion was spent on cancer care in the U.S. The growing prevalence of cancer would lead to increasing demand for chemotherapy, thereby boosting the market demand.
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The American Cancer Society proposes that in 2020, over 1.8 million individuals are likely to be diagnosed with cancer, of which various patients would require blood transfusion, occasionally on a daily basis. Moreover, every year around 90,000 to 100,000 individuals in the U.S. are affected by sickle cell disease, and nearly 1,000 babies are born with this condition. The patient who has sickle cell disease may require blood transfusions all over their lives. About 36,000 units of red blood cells are necessary on a daily basis in the U.S., and each year approximately 21 million blood components are transfused in the U.S. The increasing demand for blood transfusion is driving the growth of the market.
Further key findings from the report suggest
- By product type, double-lumen implantable ports are estimated to grow at a significant rate of 5.8% in the forecast period. The double lumen implantable port lets simultaneous infusion of chemotherapy, blood products, medication, or parenteral nutrition. Moreover, it is advantageous for drawing blood for laboratory purposes without interrupting the infusion.
- By material type, polyurethanes dominated the market in 2018. Polyurethanes are flexible and strong enough to bear bending and rubbing as well as soft enough to offer added comfort to the patient.
- By applications, intravenous fluids are anticipated to witness the fastest growth rate in the period 2019-2027.
- By end-users, ambulatory surgical centers are expected to grow at the fastest rate of 6.4% in the forecast period.
- The market in North America held the largest market share in 2018 and is estimated to grow at a rate of 5.1% in the forecast period. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare facilities, and the presence of leading market players in the region.
- Key participants include B. Braun Melsungen AG, Teleflex Inc., ISOMed, AngioDynamics Inc., C. R. Bard, Smiths Medical, Perouse Medical Inc., Navilyst Medical, Cook Group Inc., and PakuMed Medical Products GmbH, among others.
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For the purpose of this report, Reports and Data have segmented the global implantable ports market on the basis of product type, material type, application, end-users, and region:
Product Type Outlook (Revenue, USD Million; 2016-2027)
- Single-Lumen Implantable Port
- Double-Lumen Implantable Port
Material Type Outlook (Revenue, USD Million; 2016-2027)
Application Outlook (Revenue, USD Million; 2016-2027)
- Blood Transfusion
- Intravenous Fluids
End-Users Outlook (Revenue, USD Million; 2016-2027)
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Million; 2016-2027)
- North America
- Asia Pacific
- Latin America
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