CHEMOTHERAPY DEVICES MARKET ANALYSIS

Global chemotherapy devices market is estimated to be valued at US$ 17 Bn in 2023, and is expected to exhibit a CAGR of 7.7% during the forecast period (2023-2030).

Analysts’ Views on Global Chemotherapy Devices Market:

Increasing awareness campaign by non-profit organization is expected to drive the market growth over the forecast period. For instance, on February 14, 2023, a new campaign was launched by the Pan American Health Organization (PAHO), a non-profit organization, to raise awareness about most common types of pediatric cancer including lymphoblastic leukemia, Hodgkin lymphoma, and retinoblastoma, among others. Some of the common symptoms include fatigue, unexplained bruising, lumps or swelling, loss of appetite, persistent headache, dizziness and vomiting, and bone pain.

Figure 1. Global Chemotherapy Devices Market Share (%), By Product, 2023

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Global Chemotherapy Devices Market – Drivers

• Increasing prevalence of cancer: Increasing prevalence of cancer is expected to propel growth of the global chemotherapy devices market over the forecast period. For instance, in February 2022, according to data provided by World Health Organization (WHO), cancer is a leading cause of death worldwidethat accounted for nearly 10 Mn  deaths in 2020, or nearly one in every six deaths. The most common cancers are breast, lung, colon and rectum, and prostate cancers. The most common in 2020 (in terms of new cases of cancer) were breast (2.26 Mn  cases); lung cancer (2.21 Mn cases); colon and rectum (1.93 Mn  cases); prostate (1.41 Mn  cases)
• Increasing geriatric population: Increasing geriatric population is expected to drive the global chemotherapy devices market growth over the forecast period. For instance, in October 2022, according to data provided by World Health Organization (WHO), in 2020, Between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. The share of the population aged 60 years and over will increase from 1 Mn in 2020 to 1.4 Mn. By 2050, the world’s populations of people aged 60 years and older will double (2.1 Mn ). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 Mn .

Figure 2. Global Chemotherapy Devices Market Share (%), By Region, 2023

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Global Chemotherapy Devices Market - Regional Analysis

Among region, North America is estimated to hold a dominant position in the global chemotherapy devices market over the forecast period. North America is estimated to hold 33.5 % of the market share in 2023. The market is expected to witness significant growth in the near future, owing to increasing organic growth strategies such as product approval by regulatory authorities to expand key players’ product portfolio. For instance, in April 2020, UroGen Pharma Ltd., a biotechnology company, announced that the U.S. Food and Drug Administration (FDA) had granted expedited approval for Jelmyto(mitomycin) for pyelocalyceal solution, a first-in-class treatment indicated for adults with low-grade upper tract urothelial cancer (LG UTUC).

Global Chemotherapy Devices Market – Impact of Coronavirus (COVID-19) Pandemic

• Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
• COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others facedproblems regarding transportation of things from one place to another.
• However, the COVID-19 pandemic had negative impact on the global chemotherapy devices market, owing to reduction in the bed and operating room capacity that  further led to considerable delays in urgent and semi-elective surgical interventions. According to an American College of Surgeons (ACSs) 2021 report, the nature of surgery and anesthesia practices changed during the COVID-19 pandemic, as the most elective and non-urgent cases were postponed. 

Global Chemotherapy Devices Market-  Segmentation

Global chemotherapy devices market  is segmented into product, end user, and  region.

• By product,the market is segmented into catheter, cannula, pumpand others. Out of which, catheter segment is expected to hold a dominant position in the global chemotherapy devices market over the forecast period due to increasing inorganic growth strategies such as partnership.
• By end user, the market is segmented into hospitals,clinics, and homecare settings. Out of which,  hospitals segment is expected to dominate the market over the forecast period due to the increasing use of catheters in hospitals
• By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, North America is expected to dominate the market over the forecast period due to increasing  organic growth strategies such as product launch and approvals.
• Among all the segmentation, the product segment is expected to dominate the market over the forecast period due to increasing organic growth strategies such as facility expansion by key market players to expand their product portfolio. For instance, in June 2022, Zeus, the global leader in advanced polymer solutions, announced expansion of its catheter manufacturing capacity worldwide. The first phase of the expansion program is  underway at the company's San Jose location in California,U.S. This initial project will significantly extend the facility's footprint to increase catheter-based design and manufacturing capacity.

Global Chemotherapy Devices Market - Cross Sectional Analysis

The catheter sub segment in Product segment is dominant in Asia Pacific region due to increasing organic growth strategies such as facility expansion by key market players to to expand their product portfolio . For instance, in September 2020, Kaneka Corporation, a biotechnology company, had decided to increase the medical catheter production capacity of its group subsidiary Kaneka Medical Vietnam Co., Ltd. Kaneka Corporation manufactures medical catheters such as endovascular treatment catheters for cardiovascular, peripheral vascular, cerebrovascular disease, gastroenterology intervention for the treatment of gastrointestinal cancer and electrode catheter for irregular pulse test.

Global Chemotherapy Devices Market : Key Developments

• In June 2023, Merit Medical Systems, Inc., a medical device company, announced that it had acquired dialysis catheter product portfolio and the BioSentry Tract Sealant System from AngioDynamics, a global provider of industry-leading medical devices that are used for the treatment of cancer and peripheral vascular disease.
• In June 2023, Merit Medical Systems, Inc., a leading manufacturer of proprietary medical devices that are used in interventional, diagnostic, and therapeutic procedures, announced that it had acquired surfacer inside-out access catheter system from Bluegrass Vascular Technologies, Inc., a U.S.-based medical technology company, in a total cash consideration of US$ 32.5 Mn. .
• On June 22, 2022, Delta Med, a medical supply company, and Adria Med, an elastomeric pump developing company, announced a strategic partnership to expand its product portfolio and strengthen its market position in the infusion pump system.
• In March 2022, Shanghai MicroPort Lifesciences Co., Ltd., a biotechnology company, announced that it had received marketing approval from China’s National Medical Products Administration (NMPA) for its independently-developed new AutoEx Chemotherapy Infusion Pump (AutoEx).
• In January 2022, ICU Medical, Inc., a global medical device company, announced the completion of the acquisition of Smiths Medical from Smiths Group plc, a multinational engineering firm. Smiths Medical manufactures syringe and ambulatory infusion devices, and provides vascular access devices and critical care products.

Global Chemotherapy Devices Market : Trends

• Increasing organic growth strategies such as product approval: Increasing organic growth strategies such as product approval by regulatory authorities to expand key market players’ product portfolio is expected to drive the market growth over the forecast period. For instance, in September 2021, RenovoRx, Inc., a biopharmaceutical company, announced that it had received a new 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its proprietary RenovoCath Delivery System. The RenovoCath Delivery System is the device component of the company's initial product named RenovoGem. This drug/device combination used in RenovoRx's Trans-Arterial Micro-Perfusion (RenovoTAMP) therapy platform is a dual-balloon infusion catheter delivering chemotherapy directly to tumors via arteries.

Global Chemotherapy Devices Market: Restraint

• Side Effects Associated with Chemotherapy: The factors such as high cost of chemotherapy devices and side effects associated with chemotherapy are expected to hamper  growth of the global chemotherapy devices market over the forecast period. For instance, in May 2020, according to data provided by American Cancer Society, various common side effects caused by chemotherapy includes fatigue, hair loss, easy bruising and bleeding, infection, anemia (low red blood cell counts), nausea and vomiting, appetite changes, constipation, diarrhea, mouth, tongue, and throat problems such as sores and pain with swallowing and among others.
• Counterbalance: The key market players are focused on maintaining quality of products to reduced the side effects of the products.

Global Chemotherapy Devices Market - Key Players

Major players operating in the global chemotherapy devices market include ICU Medical, Baxter, Becton, Dickinson and Company, B. Braun SE, Halyard Health, Moog Inc., Micrel Medical Devices SA, Smiths Medical, Terumo Corporation, Zyno Medical, Leventon S.A, Nipro Corporation, Suzhou Zede Medical Instruments Co., Ltd., and Polymedicure.

Definition: Chemotherapy is a common cancer treatment that uses drugs to destroy cancer cells and prevents tumor growth. Chemotherapy pumps are one of the ways for treating cancer. These allows to have chemotherapy in a controlled way. Chemotherapy pumps are also called infusion pumps.