Increasing occurrences of cancer is one of the significant factors influencing the market growth.
Market Size – USD 34.0 Million in 2018, Market Growth – CAGR of 7.0%, Market Trends – Favorable government regulations
The Global Port Needles Market is expected to reach USD 62.6 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 further 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.
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The rising occurrence of obesity is projected to fuel the demand for port needles in the upcoming years. According to the World Health Organization in 2016, over 650 million adults (13% of the adult population across the globe) who are 18 years or older were obese. A majority of the global population lives in countries where more people die owing to overweight and obesity as compared to underweight people. In the same year, 41 million children below the age of 5 were obese/overweight, and more than 340 million children and individuals aged five years to 19 years were obese/overweight in 2016.
Further key findings from the report suggest
- A winged port needle is used to deliver intravenous (IV) therapy to a vein or to draw blood from a vein. These port needles allow for added precise placement, mainly in hard-to-access veins.
- By application, cancer treatment contributed to the largest market share in 2018. In cases where patients have to receive several infusions of chemotherapy, a port is often a better alternative. Moreover, it may allow you to receive chemotherapy at home as opposed to at the hospital or clinic. It offers greater comfort, less delay, less risk of extravasation, and less risk of infection.
- By end-users, ambulatory surgical centers are expected to grow at the fastest rate of 8.0% 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 6.7% 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.
- Key participants include Medtronic, Becton, Dickinson, and Company, Smiths Medical, Novo Nordisk, B. Braun Melsungen AG, Hamilton Syringes and Needles, NIPRO Medical, Boston Scientific, Terumo Corporation, and Hi-Tech Medicare Devices, among others.
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For the purpose of this report, Reports and Data have segmented the global port needles market on the basis of product type, application, end-users, and region:
Product Type Outlook (Revenue, USD Million; 2016-2027)
- Winged Port Needles
- Angled Port Needles
- Straight Port Needles
Application Outlook (Revenue, USD Million; 2016-2027)
- Blood Transfusions
- Cancer Treatment
- Parental Nutrition
End-Users Outlook (Revenue, USD Million; 2016-2027)
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Million; 2016-2027)
- North America
- Asia Pacific
- Latin America
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