Michael Barbella, Managing Editor03.30.21
An aging population and growing prevalence of cancer is likely to spur solid growth in Australia's implantable ports market.
Over the next four years, the sector is forecast to grow 4 percent annually, according to GlobalData, a worldwide data and analytics company.
“Technical advancements, increasing awareness of implantable ports, ease of use and patients’ choice to opt for effective treatment methodologies are driving the demand for implantable ports,” said Minith Kumar, a mdical devices analyst at GlobalData.
GlobalData’s report, "Implantable Ports (Drug Delivery Devices) – Global Market Analysis and Forecast Model (COVID-19 market impact)," reveals that single lumen ports accounted for more than 95 percent of the Australian market in 2020. C.R. Bard was the leading player, followed by AngioDynamics Inc and B. Braun Melsungen AG. Together these companies accounted for around 75 percent of the Australian implantable ports market in 2020.
In addition, the implantable ports market growth in Australia is driven by increasing prevalence of cancer and availability of advanced treatment options. Improvement in technology and access to quality healthcare facilities are expected to further boost the market growth.
“As the physicians consider chemotherapy as the standard for cancer treatment, increased need to control dosage of deliver drugs will drive the demand for implantable ports. Increasing focus on developing new implantable ports with advanced features for better delivery of medications will also contribute to the implantable ports markets growth in the future,” Kumar concluded.
Over the next four years, the sector is forecast to grow 4 percent annually, according to GlobalData, a worldwide data and analytics company.
“Technical advancements, increasing awareness of implantable ports, ease of use and patients’ choice to opt for effective treatment methodologies are driving the demand for implantable ports,” said Minith Kumar, a mdical devices analyst at GlobalData.
GlobalData’s report, "Implantable Ports (Drug Delivery Devices) – Global Market Analysis and Forecast Model (COVID-19 market impact)," reveals that single lumen ports accounted for more than 95 percent of the Australian market in 2020. C.R. Bard was the leading player, followed by AngioDynamics Inc and B. Braun Melsungen AG. Together these companies accounted for around 75 percent of the Australian implantable ports market in 2020.
In addition, the implantable ports market growth in Australia is driven by increasing prevalence of cancer and availability of advanced treatment options. Improvement in technology and access to quality healthcare facilities are expected to further boost the market growth.
“As the physicians consider chemotherapy as the standard for cancer treatment, increased need to control dosage of deliver drugs will drive the demand for implantable ports. Increasing focus on developing new implantable ports with advanced features for better delivery of medications will also contribute to the implantable ports markets growth in the future,” Kumar concluded.
