Wilmington, Delaware, United States, July 19, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc.: The value of global thoracic drainage devices market was clocked at US$ 579.9 Mn in 2021. The global market is likely to develop at a CAGR of 4.6% during the forecast period, from 2022 to 2031. The future market outlook for thoracic drainage devices predicts the market value to reach valuation of US$ 962 Mn by 2031. One of the major reasons propelling the global thoracic drainage devices market is the constantly increasing insured population base. Thoracic drainage device operations are anticipated to become more popular as U.S. health insurance coverage expands. The high frequency of these illnesses along with an increase in cardiac surgical operations is anticipated to drive demand for different types of chest tube drainage systems.
Due to rapid rise in overweight conditions and sedentary lifestyles, heart problems are currently one of the most prevalent diseases in the world. This has increased the number of cardiac operations and thoracic drainage devices that are needed to clear the pleural space after surgery in those circumstances. Thoracic drainage devices demand analysis observe that increase in cardiac surgeries and the high frequency of these illnesses are expected to drive the global thoracic drainage devices market during the forecast timeline.
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The global thoracic drainage devices market is being driven by the rise in demand for cardiovascular disease medications and devices. Besides, growing demand for thoracic drainage devices is also fueled by technological developments, and requirements in different surgical disciplines.
Key Findings of Market Report
- Based on product type, the global market for thoracic drainage devices was dominated by the category of thoracic drainage systems. This can be attributed to the rise in demand for services at urgent care facilities, hospitals, and outpatient surgical facilities. Additionally, thoracostomy tube treatments and thoracic drainage goods' mobility have grown in popularity.
- The National Cancer Institute estimates that there are nearly 100,000 new incidences of pleural effusions detected in the US each year. Traumatic pneumothorax also occurs more frequently in situations when there has been physical harm to the chest as a result of a medical procedure's complications. Thoracic disorders become more common as a result, which is expected to present considerable growth opportunities for the key players in the thoracic drainage devices.
- The market for thoracic drainage devices is projected to see considerable prospects as the frequency of open-heart operations rises as a result of smoking, bad lifestyle choices, inactivity, and obesity. As a result, increasing incidence of these ailments and rise in cardiac surgical interventions are projected to drive the growth of the cardiac surgery category in the years to come.
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Global Thoracic Drainage Devices Market: Growth Drivers
- In 2021, the hospitals and specialty clinics category accounted for a sizeable market share for thoracic drainage devices. Patients can get various types of medical treatment in hospitals, involving round-the-clock supervision, a dispensary, pathological and radiological diagnostics, specialty care, and surgery. Lengthy hospital stays and predilection for hospitals and specialist clinics are anticipated to drive high market share of this segment.
- In 2021, North America accounted for a sizeable share, which is more than 40%, of the global market for thoracic drainage devices. Due to an increase in the occurrence of aging-related illnesses and escalating healthcare expenditures, the regional thoracic drainage devices market is predicted to grow gradually in the coming years. In addition, the regional market is predicted to expand due to attractive reimbursements for rental or purchase of these devices and technological advancements in healthcare systems.
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Global Thoracic Drainage Devices Market: Key Players
Some of the key market players are
- C. R. Bard, Inc.
- Utah Medical Products, Inc.
- Rocket Medical plc
- Vygon S.A
- MAQUET Holding B.V. & Co. KG
- ATMOS MedizinTechnik GmbH & Co. KG
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Global Thoracic Drainage Devices Market: Segmentation
Product
- Thoracic Drainage Systems
- Trocar Drains
- Unsecured Needles
- Secured Needles
- Pleural Drainage Catheters
- Thoracic Drainage Kits
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