The global 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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The injection port market consists of injection ports or access ports which are medical devices used to provide targeted drug delivery. Injection ports are attached to catheters or ports for accessing the vascular system to inject medications, fluids, nutrients or withdraw blood samples. They are primarily used for long term intravenous therapies, chemotherapy and total parenteral nutrition. Injection ports provide pain-free and repeated access to the vascular system without disturbing vascular lines or catheters. This helps in reducing risks of infection, preserving veins and facilitating home healthcare.
Market key trends:
One of the key trends in the injection port market is the rising demand for pre-filled syringes. Pre-filled syringes provide various advantages over conventional vial and syringe systems such as improved safety, accuracy of dosage, ease of use and prevention of contamination. They eliminate multiple steps involved in drawing drugs from vials andReduce risks of dosing errors. Hence, they are preferred for chronic disease treatments requiring frequent administration of drugs. Growing prevalence of diseases like cancer and diabetes is driving the demand for pre-filled syringes which in turn is expected to boost the growth of injection ports market over the forecast period.
Porter’s Analysis
Threat of new entrants: The Injection Port Market involves high initial investments for R&D and production facilities creating entry barriers for new players.
Bargaining power of buyers: The presence of many established players in the market increases competition lowering the bargaining power of buyers.
Bargaining power of suppliers: Suppliers of raw materials have moderate bargaining power due to availability of substitute materials.
Threat of new substitutes: There is a low threat from substitutes as injection ports have few substitutes for application in injectable drug delivery systems.
Competitive rivalry: The market comprises several global players intensifying competition.
Key Takeaways
The Global Injection Port Market Demand is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period 2023 to 2030, due to increasing adoption of injectable drug delivery systems.
The market size for 2023 is estimated to be US$ 1.36 Bn. North America is expected to dominate the market during the forecast period, owing to rising prevalence of chronic diseases requiring injectable drugs 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, and Qosina Corp.
Regional analysis
Europe is anticipated to be the fastest growing market for injection ports during the forecast period due to increasing geriatric population and supportive regulatory policies for drug delivery devices in the region. Asia Pacific is also expected to offer lucrative opportunities for market players owing to growing pharmaceutical industry and medical device manufacturing in countries like China, India, and Japan.
Key players
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, and Qosina Corp.
