Chemotherapy is administrated intravenously and is majorly conducted in hospital. It involves administration of medicine through a tube in a vein. Intravenous medications are given directly into the blood stream through a variety of methods. A venous access device (VAD) is a surgically implanted device that provides long-term access to a major vein. The two most commonly used VAD for cancer treatment are catheter and implanted ports. Intravenous (IV) administration of therapy medication allows for rapid entry into the body's circulation, where it is carried throughout the body in the blood stream. IV methods also enable more flexibility with drug dosing.
Market Dynamics
Increasing incidences of different cancers worldwide is the major factor driving chemotherapy devices market growth. According to the World Health Organization (WHO), 2017, nearly 1 in 6 deaths occur due to cancer globally and around 70% of deaths from cancer occur in low- and middle-income economies. According to Breast Cancer Organization, in 2017, approximately 252,710 new cases of breast cancer were identified in the U.S., of which 63,410 cases were of non-invasive breast cancer.
Moreover, increasing government and private funding coupled with rising disposable income is also projected to drive chemotherapy devices market growth. According to the National Cancer Institute 2016 report, an estimated national expenditures for cancer care in the U.S. in 2017, were US$ 147.3 billion. Costs are likely to increase over the forecast period, as the population ages and cancer prevalence increases. However, not all chemotherapy patient requires a venous access device. For some chemotherapy treatment plans, the inconvenience of implanting and accessing a VAD can outweigh the benefits.
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