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During the period from 2021 to 2031, the growth of the global chemotherapy devices market is anticipated to be driven by the growing demand for chemotherapy and rates of cancer. In addition, rising cost reductions and technical developments will have a substantial influence on the growth trajectory of the chemotherapy devices market from 2021 to 2031.
According to the U.S.-based National Cancer Institute, around 5.5 million Americans are afflicted with cancer, and this figure is projected to reach 20,3 million by 2026. The rapidly escalating incidence of cancer is anticipated to drive the need for chemotherapy treatments, which is anticipated to stimulate the chemotherapy device market.
Chemotherapy is a medical procedure used mostly in hospitals. It includes administering medication through a catheter in a vein. Several ways are available for administering intravenous drugs straight into the circulation. The venous access equipment is a surgical device that provides permanent access to major veins. Chemotherapy pumps are used to treat individuals with cancer. It enables patients to get chemotherapy in a regulated and efficient manner. Infusion pumps are sometimes known as chemotherapy pumps. The chemotherapy end-users include hospitals, clinics, and home care.
Intravenous chemotherapy is administered by a venous access device (VAD). There are several device types, including catheters, implanted ports, and cannula. The choice of gadget relies on the sort of therapy a patient will receive and his or her physical condition.
The market for chemotherapeutic devices is fragmented. Numerous participants in the chemotherapy device market are engaged in attempts to grow the customer base. The participants engage in research and development activities that aid in expanding the customer base. Consequently, these factors augur well for the expansion of the chemotherapeutic device market. Moreover, strategic partnerships contribute to the expansion of the manufacturers' impact on the chemotherapeutic device market.
Zyno Medical, Halyard Health, Fresenius Kabi, Baxter International, Smiths Group, and Advanced Chemotherapy Technologies are some of the most established companies in the chemotherapy device industry.
Cancer is the second leading cause of mortality globally, accounting for 9.6 million deaths in 2018, according to statistics published by the World Health Organization (WHO). Rising cigarette and alcohol usage, as well as an ageing population, are the primary drivers for the increase in cancer incidence rates. According to the Global Burden of Disease 2015 study, tobacco smoking is a significant risk factor for cancer, accounting for around 22% of cancer deaths worldwide. Moreover, as the prevalence of cancer increases, so does the demand for treatment, driving the growth of the global chemotherapy devices market.
Patients may, however, feel discomfort due to chemotherapy equipment. During insertion of a skin-tunneled catheter or port, the needle or guide wire might injure the top of the lung, resulting in the formation of an air pocket. There may be bruising or injury to an artery or nerve at the site where the needle entered the vein. In addition, infection is possible. The risk is typically between one and three per one hundred cases; however it may be greater depending on a range of other factors, such as the diagnosis or treatment. Also possible is the formation of a clot surrounding the port. If the CVAD is not in the correct position, it might crack, become damaged, or become dislodged; thus, it must be replaced.
During the period between 2021 and 2031, North America is anticipated to become the leading geographic contributor to the market for chemotherapeutic devices. The market in the North American area will be bolstered by a growth in the number of cancer patients, improved health care infrastructure, greater government spending, and other current initiatives.
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Chemotherapy Devices Market
