Wilmington, Delaware, United States, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The thoracic drainage devices market is estimated to exceed US$ 1.23 Bn by 2031, from US$ 729.6 Mn in 2021. Extensive clinical use of thoracic drainage systems in emergency departments, intensive care units, and operating rooms is fueling the market. Furthermore, advent of digital thoracic drainage systems, which are safe, comfortable, and well-tolerated by patients is spurring market development.
Novel systems developed by product manufacturers is anticipated to augment market growth in the next few years. For instance, in January 2020, Centese Inc., a leading thoracic drainage systems manufacturer, announced the conclusion of the first clinical analysis of its Thoraguard digital drainage system at Stanford University Medical Center. The product is the first surgical drainage device that has the ability to perform clog clearance without human intervention.
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Competitive Analysis
The global landscape is consolidated, with a few large players controlling majority of the market share. Companies in the thoracic drainage devices market are engaging in new product launches, M&As, and partnerships to strengthen their market position.
Prominent players in the thoracic drainage devices market include Medtronic plc, Getting AB, Sterimed Group, Cook Medical, and Cardinal Health, Inc.
Key Findings of Study
COVID-19 Impact on Global Thoracic Drainage Devices Market – According to the World Health Organization, the number of confirmed cases of COVID-19 stood at 585.0 million as of August 2022, including nearly 6.4 million deaths. According to medical research, thoracic drainage systems can significantly decrease the massive spread of COVID-19. Patients of COVID-19 are at a high risk of developing acute respiratory distress syndrome (ARDS), needing invasive mechanical ventilation.
Rise in Adoption of Thoracic Drainage Devices– Based on product, the thoracic drainage systems segment held leading share of the global market in 2021. Increase in demand for thoracic drainage systems in hospitals, ambulatory surgery centers, and urgent care centers is anticipated to fuel the segment during the forecast period.
Thoracic Surgery & Pulmonology Segment to Witness Significant Growth – The thoracic surgery & pulmonology application segment held major share of the global market in 2021. Extensive adoption of thoracic drainage devices in minimally invasive procedures for the treatment of pleural effusions, pneumothorax, and empyema disorders is fueling the segment. According to an article published in the Journal of Thoracic Disease, thoracic surgery is one of the most rapidly advancing specialties in all surgery. Currently, around 530,000 general thoracic surgeries are carried out in the U.S. ever year by around 4,000 cardiothoracic surgeons.
Improved Healthcare Quality and Reduced Cost Driving Ambulatory Surgery Centers Segment – Based on end-user, the ambulatory surgery centers (ASCs) segment is projected to register the leading CAGR of 6.7% during the forecast period. Growth of the segment can be attributed to the ability of ASCs to provide quality healthcare at reduced costs.
The hospitals & specialty clinics segment held the key share of the global market in 2021. High adoption of thoracic drainage devices and improved patient outcome of cardiothoracic surgeries performed in hospitals & specialty clinics is driving the segment.
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Growth Drivers
- Increase in acceptance of digital thoracic drainage devices is fueling the thoracic drainage devices market
- Efficacy of thoracic drainage systems in the treatment of respiratory diseases is augmenting market growth
Regional Landscape
North America is anticipated to account for leading share of the global market during the forecast period due to high adoption of advanced devices, increase in R&D expenditure, significant spending on healthcare, and the presence of a modern healthcare infrastructure.
The market in Asia Pacific is anticipated to expand at a significant pace during the forecast period due to rise in number of patients suffering from cardiovascular diseases, growth in geriatric population, and developments in medical tourism. Moreover, initiatives of large companies in the thoracic drainage devices market to expand their production base in Asia and Southeast Asia is expected to fuel market statistics in the region.
The global thoracic drainage devices market has been segmented as follows:
Global Thoracic Drainage Devices Market, by Product
- Pleural Drainage Catheters
- Secured Needles
- Unsecured Needles
- Thoracic Drainage Kits
- Thoracic Drainage Systems
- Trocar Drains
Global Thoracic Drainage Devices Market, by Application
- Cardiac Surgery
- General Intensive Care & Emergency Medicine
- Infectious Diseases
- Military/Damage Control/Disaster Medicine
- Oncology & Pain Management
- Thoracic Surgery & Pulmonology
Global Thoracic Drainage Devices Market, by End-user
- Ambulance Services
- Ambulatory Surgery Centers
- Hospitals & Specialty Clinics
- Anesthesiologist
- Cardiologist
- Infectiologist
- Pulmonologist
- Other Medical Specialists
- Military Surgeons
- Urgent Care or Outpatient Care
Global Thoracic Drainage Devices Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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