Global Implantable Ports Market 2017-2021
About Implantable Ports
Implantable ports are thin, soft plastic tubes with a rubber disc at the end. Implantable ports are also called as subcutaneous ports or portacaths. They are most commonly inserted in patients undergoing chemotherapy. These ports are used to administer drugs to individuals. The diameter of the port ranges from 2.5 cm to 4 cm. Based on the product type, implantable ports can be classified into two types: single-lumen and double-lumen ports. During the forecast period, the single-lumen implantable ports segment will continue to grow significantly as these ports are used in the majority of insertion procedures, whereas the double-lumen implantable ports segment is expected to grow at a high rate.
Technavio’s analysts forecast the global implantable ports market to grow at a CAGR of 3.51% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global implantable ports market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of implantable ports.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Implantable Ports Market 2017-2021
Technavio recognizes the following companies as the key players in the global implantable ports market: AngioDynamics, B. Braun Melsungen, C.R. Bard, Smiths Medical, and Teleflex
Other Prominent Vendors in the market are: ook Medical, districlass medical, Isomed, Kimal, Medical Components, PaKuMed medical products, pfm medical, Silvermed, and Vygon
Commenting on the report, an analyst from Technavio’s team said: “There has been an increasing usage of power-injectable ports, owing to the increased advantages. The power port devices offer easy, flexible placement and access. Also, these ports enable physicians to inject the contrast media needed for CT scans, thereby decreasing the need for additional catheters. Therefore, many companies are offering such devices to gain competitive advantage. For instance, C.R. Bard offers the PowerPort device; the first port indicated for power injection. It integrates reliable venous access with the ability for power-injected contrast-enhanced computed tomography scans. These scans help to produce superior images to manage patient care better. Such scans are usually used to track tumor markers or perform pulmonary embolism studies.”
According to the report, the increasing cancer population is expected to drive the market growth of implantable ports. Cancer is one of the leading causes of deaths worldwide. Lung, liver, stomach, colorectal, breast and esophageal cancers are prevalent among the population worldwide. According to NIH, approximately 1.68 million new cases of cancer has been diagnosed in the US, and 0.59 million people died from the disease in 2016. The number of individuals living beyond a cancer diagnosis reached approximately 14.5 million in 2014 and is expected to reach 19 million by 2024. Individuals with cancer undergo various treatment therapies, such as the use of chemotherapeutic agents. For the precise delivery of drugs, implantable ports are required. This will lead to the increased use of implantable ports, which will propel the market growth. Also, the developing economies are increasingly focusing on the use of chemotherapy. The physicians in developing countries such as China and India consider chemotherapy as the gold standard. For instance, in India, approximately 30%-35% individuals with cancer still prefer chemotherapy. Also, the increased need for transfer blood and deliver antibiotics for certain treatments will drive the demand for implantable ports. For instance, implanted central venous access ports have become the gold standard for long-term cancer therapy. They are designed for easy, safe, and repeated access. For instance, Port-A-Cath which features a subcutaneous portal with a self-sealing septum that could be accessed by needle puncture through intact skin. Therefore, widespread usage of chemotherapy for the treatment of various chronic cancers will drive the demand for implantable ports globally.
Further, the report states that the global implantable ports market is characterized by the presence of many players. For instance, C.R. Bard, AngioDynamics, and Smiths Medical are few of the leading players in the market that have a competitive advantage over other players. Also, these bigger companies have huge distribution channels, contracts with all the major leading hospitals and health centers, which increase the competition in the market for emerging as well as new entrants in the market. C.R. Bard has already established training centers to provide support to its customers besides increasing brand value too. This will further increase the brand loyalty of customers. Also, vendors are currently finding it difficult to remain competitive in the market because of the lack of product differentiation. Since the features and functionalities of various products are similar in nature, most healthcare centers and physicians tend to opt for products based on familiarity with a specific brand name. For instance, the implantable ports can be classified only in two types, such as single-lumen and double-lumen. However, all the products are almost similar regarding functionality and other features. Hence, it is critical for manufacturers to develop a technologically-advanced product line to achieve product differentiation. Thus, vendors need to be aware of the technological advancements and value-added features that can be added to implantable ports to gain a competitive advantage in the market. Currently, vendors look to gain a competitive advantage by reducing prices. This will increase the pricing competition. Therefore, lack of product differentiation coupled with pricing pressure hampers the growth in the global implantable ports market.
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AngioDynamics, B. Braun Melsungen, C.R. Bard, Smiths Medical, Teleflex, ook Medical, districlass medical, Isomed, Kimal, Medical Components, PaKuMed medical products, pfm medical, Silvermed, and Vygon
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