Injection Port Market to Hit $2.12 Billion by 2030, growing at a CAGR of 6.5%: Coherent Market Insights
Injection Port refers to a medical device component used as an access point for administering medications, fluids, or nutrients directly into a patient’s bloodstream or body cavity. In the context of medical equipment, it might refer to a part of an intravenous (IV) line, such as a port on a central venous catheter or an implanted port (a small medical appliance that is installed beneath the skin).
Burlingame, Nov. 07, 2023 (GLOBE NEWSWIRE) — According to Coherent Market Insights, global Injection Port market size is estimated to be valued at US$ 1.36 billion in 2023 and is expected to reach US$ 2.12 billion by 2030, grow at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2030.
Injection ports are medical device that are widely used in various healthcare settings for the administration of medications, fluids, or other substances directly into a patient’s veins or other areas of the body. Increasing prevalence of chronic diseases, advancements in healthcare infrastructure and technology, and the rise in hospital admissions some of the key factors augmenting the global injection port market growth.
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Rise in prevalence of chronic disease to augment injection port market growth
Increasing global burden of chronic disease such as diabetes, cancer, and cardiovascular diseases has led to demand for continuous administration of medicine and injection port offer convenient and efficient means of drug administration for repeated access to patients’ veins. Moreover, it is also an easy and comfort way of administering drug to pateints. Hence, growing prevalence of chronic disease is propelling market growth.
Growing advancement in drug delivery system to fuel market growth
Technological advancement in drug delivery system has led to the innovation in injection port system such as antimicrobial coatings, self-sealing valves, and compatibility with different needle sizes, increasing reliability, safety, and ease of use. Thus, advancement in drug delivery system is expected to propel market growth.
Injection Port Market Report Coverage
|Forecast Period||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR||6.5%|
|Market Size in 2023||$1.36 billion|
|2030 Value Projection||$2.12 billion|
|Historical Data for||2017 to 2021|
|Segments covered||By Type, By Application, By Material|
|Growth Drivers||• Increasing prevalence of chronic diseases
• Growth in home healthcare
• Advancements in drug delivery systems
• Expansion of the geriatric population
Increasing geriatric population to provide significant market growth opportunities
Aging population worldwide is increasing prevalence of chronic disease and also need for home healthcare services. According to the National Library of Medicine, about 21% of the elderly in India reportedly have at least one chronic disease. Seventeen percent elderly in rural areas and 29% in urban areas suffer from a chronic disease. Hypertension and diabetes account for about 68% of all chronic diseases.
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Stringent regulations to hamper market growth
The medical device sector is highly subject to strict regulatory standards. Compliance with these regulations, such as obtaining necessary approvals can be costly and time-consuming, This may restrict market entry for new players and create barriers to innovation in medical devices.
Key Trends and Analysis of the Global Injection Port Market:
Rising trend of home healthcare and seld-medication is uplifting the global injection port market growth. Injection ports enable patients to easily self-administer medications at home, improving convenience and reducing the need for frequent visits to hospital. In February 2023, AstraZeneca and Amgen’s Tezspire (tezepelumab) has been approved in the US for self-administration in a pre-filled, single-use pen for patients aged 12 years and older with severe asthma
Key Market Takeaways:
Global injection port market is expected to exhibit a CAGR of 6.5% during the forecast period, owing to growing prevalence of chronic disease, increasing advancement in medical devices, growing geriatric population, and rising trend of self-administration.
On the basis of Type, re-sealable injection ports segment is expected to hold a dominant position, as it offer convenient and efficient means for repeated access to patients’ veins
On the basis of Application, medical devices segment is expected to hold a dominant position, owing to the growing advancement in medical devices.
On the basis of Material, Thermoplastic elastomers (TPEs) segment is expected to hold a dominant position, owing to the fact that they are durable, cost-effective,and can tolerate the stresses of constant use
On the basis of region, North America is expected to hold a dominant position over the forecast period, owing to the presence of well-estabalished healthcare sector, increasing number of patient suffering from chronic disease, and ongoing research and development activities in medical devices.
Key players operating in the global Injection Port market include 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.
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- Global Injection Port Market, By Type:
- Re-sealable injection ports
- Self-sealing injection ports
- Global Injection Port Market, By Application:
- Medical devices
- Global Injection Port Market, Material:
- Thermoplastic elastomers (TPEs)
- Global Injection Port Market, Geography:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- North America
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