Newark, New Castle, USA, June 20, 2023 (GLOBE NEWSWIRE) -- According to the most recent study by Growth Plus Reports, the chemotherapy devices market was valued at US$ 11.84 billion and is expected to rise at a revenue CAGR of 6.9% to reach US$ 21.58 billion by 2031.
The global market for chemotherapy devices was analyzed, and it is expected to increase significantly during the forecast period. Chemotherapy devices are medical devices that employ chemotherapy medications to treat cancer. Chemotherapy is a form of systemic medicine that uses drugs to kill or halt the development of cancer cells.
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Chemotherapy Devices Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 11.84 billion |
| Revenue forecast in 2031 | US$ 21.58 billion |
| Growth Rate | CAGR of 6.9% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments Covered | Product Type, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Global Chemotherapy Devices Market:
- In March 2023, a collaboration between Eversana and ChemoMouthpiece will promote the medical device's introduction and commercialization in the United States. The Chemo Mouthpiece device, an intraoral ice pack, helps cancer patients manage and cure oral mucositis, an unpleasant side effect of chemotherapy.
- In March 2023, The FDA authorized a single-dose, prefilled autoinjector version of Coherus Biosciences' pegfilgrastim biosimilar for the prevention and treatment of febrile neutropenia, a common chemo side effect.
Key Takeaways:
- Increasing cancer prevalence and its awareness are driving the market revenue share.
- With the advancement of technology, there is a significantly increasing demand for chemotherapy treatments.
- Several government initiatives and increased availability of reimbursement policies are boosting market revenue growth.
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Market Drivers and Restraints:
The market revenue is expected to grow substantially as cancer incidences rise, government health regulations improve, and reimbursement availability expands. Moreover, the introduction of innovative and advanced chemotherapeutic devices with greater efficacy and fewer side effects is also fueling the growth of the global chemotherapy devices market revenue.
However, a rigorous regulatory framework, requirement for complex production techniques and skill sets, utilization of transgenic animals and plants, and ethical concerns regarding animal sources all limit the market revenue growth.
Market Segmentation:
Segmentation By Product Type
Based on product types, the global chemotherapy devices market is segmented into catheters, cannulas, infusion pumps, and others. Due to the accurate and precise delivery of medications, the infusion pump segment accounts for the largest market revenue share, lowering the possibility of human mistakes and ensuring patients receive the right dosage.
Segmentation By End-User
Based on the end-user, the global chemotherapy devices market is segmented into hospitals, homecare settings, and clinics. The variables that contribute to a growth in the frequency of hospital visits and hospital stays globally boost demand for the hospital segment, resulting in the dominance of this segment over others.
Regional Growth Dynamics
Based on the region, the global chemotherapy devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Due to the increased cancer prevalence, rising demand for chemotherapy equipment, technical breakthroughs in chemotherapy devices, and an aging population, North America accounts for the most significant revenue share in the global market.
Competitive Landscape
The following is a list of the prominent players in the global market for chemotherapy devices:
- ICU Medical
- Fresenius Kabi
- Advanced Chemotherapy Technologies
- B. Braun Melsungen AG
- Baxter International Inc.
Report Coverage
Growth Plus reports studied the global market for chemotherapy devices in-depth and analyzed the basic market characteristics, significant investment opportunities, analytics of regional growth, revenue forecasting, competitive market players, mergers, and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL BENCHTOP AUTOMATION MARKET - ANALYSIS & FORECAST, BY PRODUCT TYPE
- Catheters
- Cannulas
- Syringe Pumps
- Others
- GLOBAL BENCHTOP AUTOMATION MARKET - ANALYSIS & FORECAST, BY END USER
- Hospitals
- Homecare Settings
- Clinics
BENCHTOP AUTOMATION MARKET TOC
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