by The injection port market is estimated to be valued at US$ 1.36 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Injection ports are medical devices used to administer fluids, medications and drugs into patients’ bodies during surgical procedures, chemotherapy and other types of medical treatment. They allow for repeated access to veins, arteries or other areas without additional needle sticks. Injection ports come in a variety of sizes and materials like silicone, titanium and plastic depending on the intended application. Major end-uses include cancer treatment centers, hospitals and long-term care facilities.
Market Dynamics:
Rising prevalence of chronic diseases like cancer requiring chemotherapy is a key factor driving the demand for injection ports. According to World Health Organization (WHO), cancer burden has risen to 19.3 million cases and 10 million cancer deaths in 2020 globally. In addition, growing geriatric population prone to age-related disorders coupled with increasing healthcare expenditure also boost the market growth. However, risk of infection associated with injection ports and availability of alternative drug delivery methods hinders the market growth.
SWOT Analysis
Strength: Injection port provides efficient drug delivery which increases patient compliance. The material used to make injection ports ensure long term stability and safety of drugs. Standardized design of injection ports make them compatible with prefilled syringes.
Weakness: Frequent replacement of injection ports increase the cost of treatment. Complex manufacturing process of injection ports adds to their production cost.
Opportunity: Rising generic drug market provides opportunities to companies dealing in injection ports. Growing biologic drugs market will drive the demand for injection ports.
Threats: Stringent regulatory guidelines for injection port design and manufacturing poses challenges. changing trend towards alternative drug delivery methods can reduce demand.
Key Takeaways:
The Global Injection Port Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing demand for prefilled syringes for drug delivery. Prefilled syringes provide improved accuracy of dosage and reduce contamination risk. This is driving the need for specialized injection ports.
Regional analysis Regional analysis related content The North America region currently dominates the injection port market owing to presence of many key market players and rising healthcare spending in the US and Canada. Asia Pacific exhibits fastest growth in the market due to expansion of healthcare facilities, growing generics market and rising medical tourism in the region.
Key players operating in the injection port market are West Pharmaceutical Services Inc., Berry Global Inc., Sartorius AG, Corning Inc., Gerresheimer AG, SCHOTT AG, Stevanato Group, AptarGroup Inc., SGD Pharma, Ompi – Stevanato Group, DWK Life Sciences, Nipro Corporation, Nolato AB, Terumo Corporation, Qosina Corp. These players are focused on new product launches and facility expansion to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
