Albany, NY -- (SBWire) -- 04/25/2018 --An implantable port is a thin, soft, silicone tube with a small reservoir attached to it. It is generally put under the skin of chest or sometimes in arm. One end of the tube goes into a large vein just above a person’s heart and the other end connects to the port. Implantable ports are also known as subcutaneous ports or chest ports and portacaths. Implantable ports are used for chemotherapy, blood transfusions, and infusion of antibiotics and other drugs. Ports can also be used for blood tests. These are quite useful to infuse medicine directly into a vein over a long period of time. Ports offer several advantages such as these can stay in place for months or even years, used for certain drugs that cannot be given through standard IV, and lower risk of infection over time than devices such as IV that stick out through the skin.
Rise in prevalence of chronic diseases such as cancer, diabetes, and chronic obstructive pulmonary disease, increase in product demand due to low infection rate, and new product innovation are the key factors driving the Implantable Ports Market. According to the Cancer Treatment & Survivorship, the population of cancer survivors is expected to increase to 20.3 million by 2026. An implantable venous access port has been advised as a feasible catheter for long-term use of chemotherapy and fluid administration in cancer patients. Other factors such as technological advancement and favorable reimbursement scenario also propel the implantable ports market. However, negative effect of implantable ports such as blood clots and blocked lines, and availability of alternative products are the key factors restraining the global implantable ports market.
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The global implantable ports market can be segmented based on product type, application, end-user, and region. In terms of product type, the market can be classified into single lumen implantable ports and dual lumen implantable ports. Based on application, the global implantable ports market can be categorized into chemotherapy, blood transfusion, antibiotics, and intravenous infusion of blood products. In terms of end-user, the market can be divided into hospitals, clinics, ambulatory surgery centers, and others.
Geographically, the global implantable ports market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America dominates the global implantable ports market due to advanced technology, large cancer patient population, increase in health care expenditure, rise in number of cancer treatment centers, and new product innovation. According to the National Cancer Institute, expenditure on cancer care in the U.S. stood at US$ 125 Bn in 2010 and could reach US$ 156 Bn in 2020. Factors such as rise in geriatric population make Europe the second largest market for implantable ports. According to the WHO, Japan, Germany, Italy, and the U.K. had the highest percentage of geriatric population in the world, with Japan topping at 26%, followed by Italy at 22.2%. The market in Asia Pacific is expected to expand at a rapid pace during the forecast period due to increase in health care expenditure, rise in diabetic population, and surge in investment by leading companies in the region. According to Diabetes Atlas Edition 2013, Asia and Africa will have the highest proportion of individuals with diabetes in 2030.
Major players operating in the global implantable ports market include AngioDynamics, Inc., B. Braun Melsungen AG, C. R. Bard, Inc., Smiths Medical, Teleflex Incorporated, Cook Group Incorporated, ISOMed, Perouse Medical, Navilyst Medical, Inc., and PakuMed medical products gmbh.
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Implantable Ports Market Set to Record Exponential Growth by 2025