Chemotherapy Devices Market Analysis - New Opportunities Explored, High CAGR & ROI Anticipated Till 2026

Radiant Insights, Inc.

SAN FRANCISCO, Feb. 27, 2020 /PRNewswire/ -- The global chemotherapy devices market is was valued at 152.80 million USD in 2017 and is anticipated to grow at a significant rate during the forecast period. Chemotherapy devices are used to slow down or kill the growth of cancer cells. The drugs generally used are called cytotoxics and are often obtained from natural sources like plats or are otherwise devised in a typical clinical laboratory. Targeted therapy has gained market traction over the past decade owing to its effectiveness in destroying the specific cancer cells, without adversely affecting the nearby healthy tissues or organs. It is often used in combination with chemotherapy and the drugs used in target therapy can be used together with or instead of chemotherapy. This therapy uses drugs that works differently than chemo drugs. While the later affects all rapidly dividing cells and works by killing cytotoxic cells, targeted therapy targets molecules within cells and often blocks cell growth (cytostatic).

The market is primarily driven by the rising occurrence of cancer like sarcoma, lymphoma, lung cancer, myeloma, and breast cancer. Cancer is the second most prevailing cause of deaths globally and according to the American Cancer Society; 1.7 million new cancer cases were determined in the year 2019. Therefore, rising cancer prevalence is fueling the adoption of chemotherapy devices and other cancer treatment options, which in turn is boosting market growth. The rising focus on research and development of various cancer therapeutic drugs for precise biological drug therapies is propelling the demand for the market. The government and non-government organizations are undertaking various initiatives for raising funds to support R&D activities, foster the adoption of advanced technologies, and create necessary cancer awareness. However, reluctance showed by patients to undergo chemotherapy, concerns regarding infections, the fear of undergoing invasive treatment procedures, and the absence of insurance and reimbursement policies across developing countries is anticipated to limit this market globally. However, a CVAD device does not cause a lot of pain, redness, discomfort, or swelling.