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Increasing Cancer Cases And Continuous R&D Is Set To Fuel Demand For Chemotherapy Devices

The global chemotherapy devices market is estimated to reach USD 201 million by 2022 and is likely to register a CAGR of 5.64%. The market is predominantly driven by the growing cancer cases due to tobacco consumption, prevailing sedentary lifestyle, improper eating habits, inherited genetic mutations, etc. The disease can be treated using several techniques such as stem cell therapy, chemotherapy, surgery, radiation therapy, hormonal therapy, immunotherapy, targeted therapy, and precision medicine.

Some of the commonly occurring cancer types include myeloma, lung cancer, sarcoma, lymphoma, and breast cancer, which is driving the need for chemotherapy. Cancer is increasingly responsible for the growing number of mortality and is the second most fatally transpiring disease worldwide. According to the American Cancer Society, there has been 17 million cancer cases registered in the year 2018 and is likely to further increase over the next seven years. In 2019, approximately 268,600 new cases of invasive breast carcinoma were detected in the U.S. alone, says the Breast Cancer Organization.

The market is also driven by the growing emphasis on the use of chemotherapy devices for oncology research and development of biologics and other drug products. Government and non-government organizations are largely investing in the R&D activities to create opportunities for the players operating in this marketspace. Some of the other factors propelling market growth comprise of evolution of healthcare infrastructure and technological innovations.

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Chemotherapy drugs are generally administered through a tube in a vein. Intravenous medications are directly dispensed into blood stream via a variety of techniques. Venous access device (VAD) is a chemotherapy device that is surgically implanted and can provide long-term access to a major vein of the patient’s body. There are various types of devices that are commercially available such as catheters, cannula, and implanted ports.  

Based on geography, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the overall market over the recent pas ad Asia Pacific is anticipated to emerge as the fastest growing region by 2022. This can be ascribed to the rising geriatric population, increasing disposable income, and greater number of fatalities due to cancer across low- and middle-income economies.

Some of the key players operating are Becton, Zyno Medical, ICU Medical, Dickinson, Terumo Corporation, Halyard Health, B. Braun, Smiths Group, Fresenius, Baxter International, Moog, and Micrel Medical. The industry players are strategizing all their expansion activities by entering into collaborations, partnerships and mergers & acquisitions to widen their product portfolio and leave a market footprint.

For instance, in December 2019, Lantheus entered into a strategic commercial agreement with CarThera, to develop an implantable ultrasound-based medical device called SonoCloud. This device is critical for neurological function and is beneficial in the treatment of recurrent glioblastoma (rGBM) as it targets the reservoir of surrounding infiltrating and migrating, tumor cells to remove the cancer entirely. 
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