Global Thoracic Drainage Devices Market, By Product Type (Thoracic Drainage System, Trocar Drain, Unsecured Needle, Secured Needle, Pleural Drainage Catheter, Thoracic Drainage Kit), End Use (Ambulance Services, Hospitals and Specialty Clinics, Urgent Care, Ambulatory Surgery Centers, Military Surgeons), Application (Thoracic Surgery and Pulmonology, Cardiac Surgery, General Intensive Care and Emergency Medicine, Infectious Disease, Oncology and Pain Management, Military Medicine) – Industry Trends and Forecast to 2029
Market Analysis and Size
The thoracic drainage devices market is expected to grow largely within the forecasted period as within this period the market will see sudden rise the technological advancements in the medical equipment sector. Although the market may show a downward curve in terms of growth due to the lack of healthcare facilities and as well as a scarcity of skilled and trained medical practitioners particularly in underdeveloped and developing economies. But, the market has a lot of room to grow in the forecasted period as there will be lower healthcare costs associated with minimally invasive procedures.
- Data Bridge Market Research analyses that the thoracic drainage devices market is expected to grow at a CAGR of 5.55% during the forecast period. The “thoracic surgery and pulmonology” accounts for the largest application segment in the thoracic drainage devices market within the forecasted period.
Market Definition
Thoracic drainage devices are basically the medical devices which are used to drain liquids, air, and solid particles from the pleural space or mediastinum of the chest. They are generally made of clear plastics like soft silicone or PVC and are used in a variety of applications including thoracic surgery and pulmonology, infectious disease, general intensive care and emergency medicine, cardiac surgery, oncology and pain management, and military medicine.
Thoracic Drainage Devices Market Dynamics
Drivers
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Increasing Occurrences of Various Diseases
The increases prevalence of cardiovascular diseases, high blood pressure, diabetes and obesity is the most significant factor driving the growth for this market. In addition to this, the increase demand of early diagnosis and treatment of diseases is also projected to boost the overall growth of the market.
Moreover, the favorable reimbursement policies of the government and increasing burden of spontaneous pneumothorax is also expected to fuel market growth. The rising preferences of minimally invasive procedures and the reducing healthcare costs involved in undergoing a minimally invasive procedure when compared to the normal surgical procedure is also projected to cushion the growth of the market. Moreover, the increase in burden of spontaneous pneumothorax also cushions the market’s growth within the forecasted period.
Opportunities
Furthermore, the introduction of new and advanced technologies by the market players extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Moreover, favorable reimbursement policies of the government will further expand the thoracic drainage devices market's growth rate in the future.
Restraints/Challenges
On the other hand, the less provision of healthcare facilities in developing regions along with lack of skilled and trained personal is expected to obstruct market growth. Also, the stringent regulatory guidelines are projected to challenge the thoracic drainage devices market in the forecast period of 2022-2029.
This thoracic drainage devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the thoracic drainage devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Thoracic Drainage Devices Market
The healthcare industry has been heavily impacted by the COVID-19. The pandemic however offered thoracic drainage devices market some crucial growth opportunities for the as the demand for thoracic drainage devices has increased as the incidences of respiratory and cardiovascular diseases have increased during the COIVD-19 pandemic. Moreover, the surge in various investments in healthcare infrastructure to improve facilities have prompted the use of advanced medical devices in hospitals. In conclusion, the increased product demand and had a positive impact on the thoracic drainage devices market.
Recent Developments
- In October 2020, The Blackpool Victoria Hospital announced a partnership with Medela Healthcare and the use of Medela's portable chest drainage systems, Thopaz+, to reduce the risk of Covid-19 spreading in its respiratory wards.
- In December 2020, Medela released new data demonstrating that Thopaz+, their digital chest drainage system, improved safety and helped prevent cross-contamination during and after the COVID-19 pandemic.
Global Thoracic Drainage Devices Market Scope
The thoracic drainage devices market is segmented on the basis of product type, end use and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Thoracic Drainage System
- Trocar Drain
- Unsecured Needle
- Secured Needle
- Pleural Drainage Catheter
- Thoracic Drainage Kit
On the basis of product type, the thoracic drainage devices market is segmented into thoracic drainage system, trocar drain, unsecured needle, secured needle, pleural drainage catheter and thoracic drainage kit.
End Use
- Ambulance Services
- Hospitals and Specialty Clinics
- Urgent Care
- Ambulatory Surgery Centres
- Military Surgeons
On the basis of end use, the thoracic drainage devices market is segmented into ambulance services, hospitals and specialty clinics, urgent care, ambulatory surgery centers and military surgeons. The hospitals and specialty clinics are expected to dominate the end use segment due to the increasing usage of these devices in hospital setup.
Application
- Thoracic Surgery and Pulmonology
- Cardiac Surgery
- General Intensive Care and Emergency Medicine
- Infectious Disease
- Oncology and Pain Management
- Military Medicine
On the basis of level of application, the thoracic drainage devices market is segmented into thoracic surgery and pulmonology, cardiac surgery, general intensive care and emergency medicine, infectious disease, oncology and pain management and military medicine. The thoracic surgery and pulmonology is expected to show a significant growth within the application segment owing to the increasing prevalence of these disorders.
Thoracic Drainage Devices Market Regional Analysis/Insights
The thoracic drainage devices market is analyzed and market size insights and trends are provided by country, product type, end use and application as referenced above.
The countries covered in the thoracic drainage devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the thoracic drainage devices market because of the high standards of healthcare infrastructure, rising incidences of chronic diseases, higher healthcare expenditure as well as easy availability of sophisticated technology in this region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 owing to the rising geriatric population, growth of the healthcare industry, and increase in the number of surgical procedures in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The thoracic drainage devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for thoracic drainage devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the thoracic drainage devices market. The data is available for historic period 2010-2020.
Competitive Landscape and Thoracic Drainage Devices Market Share Analysis
The thoracic drainage devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to thoracic drainage devices market.
Some of the major players operating in the thoracic drainage devices market are Teleflex Incorporated., Vygon, ATMOS MedizinTechnik GmbH & Co. KG, Cook, BD., Getinge AB, Utah Medical Products, Inc., Smiths Group PLC, Sinapi Biomedical, Medela AG, Rocket Medical plc., Sterimed Group, Cardinal Health., B. Braun Melsungen AG, BioMed Devices, EUROSETS, and Angiplast, among others.
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