Implantable Ports Market Size, Share, Growth, Analysis, Trend, and Forecast Research Report by 2027
Reports And Data
Rising occurrences of target conditions requiring implantable ports is one of the significant factors influencing the market growth.
NEW YORK, NY, UNITED STATES, November 6, 2021 /EINPresswire.com/ -- 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.
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.
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The report is formulated through exhaustive primary and secondary research which is verified and validated by industry experts, research analysts, and professionals. The report aims to help readers and users improve their business performances by providing insightful data about business sphere such as recent technological development, product advancements, and adoption of strategic business steps. The report also offers extensive analysis of the competitive landscape along with business overviews, expansion plans, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product and brand promotions, government and corporate deals, and partnerships among others.
Top Companies in the Market 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.
Increasing focus on development of vaccines to combat COVID-19 pandemic and focus on preventive medicine to mitigate future epidemics and pandemics, rising number of product approvals for drugs and therapeutics, and rapid digital transformation in the pharmaceutical and healthcare industry are some key factors expected to drive revenue growth over the forecast period. With the social distancing norms in place and growing focus on telemedicine, digital technologies were adopted at an accelerated rate allowing healthcare professionals to efficiently manage health of the patients. One of the most crucial drivers of the pharma & healthcare industry is the rapid integration of artificial intelligence in key areas such as R&D, patient care, commercialization, and drug discovery and development. It has also led to a reduction in healthcare expenditure and improved efficiency of the systems which is expected to further contribute to revenue growth of the market going ahead.
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Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered. The report is segmented on the basis of product types offered in the market, application spectrum, and key regions of the Implantable Ports 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.
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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)
• Polyurethane
• Polyethylene
• Silicone
• Others
Application Outlook (Revenue, USD Million; 2016-2027)
• Chemotherapy
• Blood Transfusion
• Antibiotics
• Intravenous Fluids
• Others
End-Users Outlook (Revenue, USD Million; 2016-2027)
• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Others
Key Regions Studied in the Report:
• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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