Chemotherapy Infusion Pumps Market Research Report | Forecast Until 2026
Posted by amol on June 26th, 2019
Chemotherapy is a process that uses drugs for the control, cure, and palliation of cancer. Cancer, in its early stages, can be cured and controlled using chemotherapy. Also, chemotherapy is used to ease the symptoms caused by cancer in the later stages. Chemotherapy pumps or chemotherapy infusion pumps help in the administration of chemotherapy drugs in a controlled manner. The chemotherapy infusion pump is made up of a hard plastic bottle, and inside the plastic bottle, there is a balloon that holds the chemotherapy drug. The balloon pushes the chemo in the patient’s body, and the flow restrictor (outside the balloon) helps in restricting the flow of the chemo.
Cancer is one of the leading causes of death globally after cardiovascular diseases. According to the World Health Organization (WHO), cancer accounts for 8.3 million deaths each year, with 70% new cancer cases expected to be reported over the next 20 years. An increase in the cancer-afflicted population is anticipated to be a key driver of the chemotherapy infusion pumps market. According to a Centers for Disease Control and Prevention (CDC) report in 2014, the number of cancer patients diagnosed in the U.S. reached approximately 21 million. It is also expected that this number would reach 25.4 million by the end of 2024. Over 60% of the world’s new cancer cases occur in Asia, Africa, and South America. Nearly the same percentage of cancer deaths also take place in these regions. Stomach, liver, lung, breast, and esophageal cancer are most prevalent among populations worldwide.
The global chemotherapy infusion pumps market is primarily driven by an increase in the incidence and prevalence of cancer. In addition, increase in the adoption of chemotherapy infusion pumps for the delivery of chemo medicines, increase in the geriatric population, advancements in health care are expected to boost the growth of the global chemotherapy infusion pumps market in the next few years. Furthermore, existing market players are deploying advanced techniques and strategies to come up with novel ways for manufacturing technologically enhanced infusion pumps. This is likely to propel demand for infusion pumps for chemotherapy during the forecast period. However, frequent product recalls and stringent government regulations are expected to restrain the market in the coming years.
The global chemotherapy infusion pumps market can be segmented based on type, end-user, and region. Based on type, the market can be divided into large volume pump (LVP), elastomeric pump, and syringe pump. Based on end-user, the market can be divided into home care, hospitals, and clinics.
In terms of region, the global chemotherapy infusion pumps market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a dominant share of the market in 2017, due to the high rate of adoption of chemotherapy infusion pumps in the region. Also, a rise in prevalence of cancer and presence of a large number of manufacturers in North America are expected to boost the chemotherapy infusion pumps market during the forecast period. Asia Pacific and Latin America are expected to be highly lucrative regions of the chemotherapy infusion pumps market in the near future. The market in these regions is projected to expand rapidly during the forecast period, owing to a large population base, increase in the number of hospitals, and rise in the adoption of infusion pumps for chemotherapy.
Key players operating in the global chemotherapy infusion pumps market include ICU Medical, Inc., Becton, Dickinson and Company, B. Braun Melsungen AG, Terumo Corporation, Halyard Health, Inc., Baxter, Fresenius SE & Co. KGaA, Smiths Group plc., Moog Inc., ZynoMed, and Micrel Medical Devices SA.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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About the Authoramol
Joined: June 20th, 2019
Articles Posted: 260
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