Rockville, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Worldwide sales of thoracic drainage devices are predicted to increase at a CAGR of 4.6% and cross a valuation of US$ 1 billion by 2032, says Fact.MR, a market research and competitive intelligence provider. The market is anticipated to expand steadily over the forecasted period as a result of the sudden surge in technological developments in medical devices.
The primary purpose of thoracic drainage devices is to remove air, fluid, and particulates from the pleural cavity or mediastinum of the chest. The primary reason fuelling thoracic drainage device demand is the rising prevalence of cardiovascular disorders, high blood pressure, diabetes, and obesity across the world. They are often composed of transparent plastics such as soft silicone or PVC and are utilized in a range of medical fields such as thoracic surgeries, infectious disease, pulmonology, emergency medicine, general critical care, cardiology, cancer, and pain management.
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Also, it is anticipated that rising demand for early disease diagnosis and treatment will accelerate market sales growth. Furthermore, respective government's favourable reimbursement policies and rising incidence of spontaneous pneumothorax are expected to boost demand for thoracic drainage devices.
Growing popularity of minimally-invasive procedures and lower healthcare expenses associated with them as compared to standard surgical procedures are also anticipated to aid device demand growth. Demand for chest wall drainage devices will increase as people become more aware of MPE's effects and the importance of early diagnosis There has been a rise in the prevalence of heart disorders in the world, accounting for 26 million cases in the last one years, with additional millions more unidentified cases. This can be attributed to the increasing ageing population, increase in cardiovascular risk factors, sedentary lifestyles, etc.
- Heart failure is a potentially fatal illness that lowers the quality of life and raises medical expenses. Approximately 550,000 new cases of congestive heart failure (CHF) are identified in the U.S. each year, according to the American Heart Association (AHA).
- Furthermore, 750,000 people in Canada have been diagnosed with heart failure, and that number is rising every year, according to a Heart and Stroke Foundation of Canada report from February 2022.
Every year, the number of surgical procedures, particularly cardiothoracic surgeries, is rising. Thus, this rise in surgical procedures has contributed to an increase in thoracic drainage device sales.
Key Takeaways from Market Study
- The global market for thoracic drainage devices is currently valued at US$ 688 million.
- The market is projected to reach US$ 1.07 billion by 2032.
- China’s thoracic drainage devices market is predicted to rise at a CAGR of 4.3% from 2022 to 2032.
- Demand for thoracic drainage devices utilized in thoracic surgeries and pulmonology is expected to rise at a CAGR of 5.2% from 2022 to 2032.
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Segments of Thoracic Drainage Devices Industry Research
- By Product :
- By Application :
- Thoracic Surgeries & Pulmonology
- Cardiac Surgeries
- General Intensive Care & Emergency Medicine
- Infectious Diseases
- Others
- By End User :
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Winning Strategy
Prominent manufacturers of thoracic drainage devices are Merit Medical Systems, Medela LLC, Smiths Medical, ATMOS MedizinTechnik GmbH & Co., KG., Becton, Dickinson Company, Cook Group, Inc., Maquet Holding B.V. & Co. KG, and Medela, Inc.
The leading cause for the development of thoracic drainage devices is the rising cases of chronic diseases. Leading manufacturers of thoracic drainage devices are adopting cutting-edge technologies and product line optimization strategies based on end user usability.
- To lower the chance of Covid-19 spreading in its respiratory wards, Blackpool Victoria Hospital announced in October 2020 that it had partnered with Medela Healthcare and will utilise Medela's portable chest drainage equipment Thopaz+.
- To enhance the tracking of medical supplies, pharmaceuticals, first aid kits, and personal protective equipment (PPE) in transit to pharmacies, hospitals, and other care facilities around the world, FourKites and Cardinal Health, Inc. established a global partnership in March 2021. For the 29,000 dispensaries and almost 90% of American hospitals that depend on Cardinal Health for essential supplies, FourKites' excellent analytics and tracking capabilities were anticipated to help Cardinal Health improve supply chain processes and enable a quick, dependable, and frictionless experience.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global thoracic drainage devices market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of product (pleural drainage catheters, secured needles, thoracic drainage kits, thoracic drainage systems), application (thoracic surgeries & pulmonology, cardiac surgeries, general intensive care & emergency medicine, infectious diseases, others), and end user (hospitals, ambulatory surgical centers, specialty clinics, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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