Albany, NY, May 29, 2018 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) has published a new report titled, “Surgical Drainage Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global surgical drainage devices market was valued at US$ 3 Bn in 2017 and is projected to expand at a CAGR of 4% from 2018 to 2026. The report suggests that increase in number of surgeries, surge in geriatric population, and rise in incidence of target diseases are likely to fuel the growth of the global surgical drainage devices market from 2018 to 2026. North America and Europe are projected to dominate the global surgical drainage devices market in the next few years, owing to rise in number of orthopedic surgeries such as hip replacement and knee replacement, and high per capita health care expenditure. Several key industry events have been documented in the global surgical drainage devices market. Raising medical standards in China and other countries in Asia Pacific, and increase in usage of image guided drainage devices is expected to boost the growth of the global surgical drainage devices market during the forecast period.
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Active Drainage Segment Held Largest Market Share
The report offers detailed segmentation of the global surgical drainage devices market based on product type. The active drainage segment is projected to account for the largest market share in 2026. The segment is anticipated to grow at a rapid pace, as active drainage provides higher efficiency in wound healing than passive drainage. Usage of closed suction surgical drains reduces the risk of hematoma formation and infections in the operation site. Surgical suction devices monitor the presence of excess fluid at the operation site and drain out the excess fluid from it at pre-programmed time. Premature removal of surgical drainage system may lead to infection.
Orthopedics Segment to Capture Largest Market Share
The orthopedics segment held the largest market share in 2017. The segment is projected to expand at a significant growth rate during the forecast period. Rise in prevalence of musculoskeletal diseases such as rheumatoid arthritis, lupus erythematous, and osteoporosis, and surge in number of orthopedic procedures such as hip replacement and knee replacement are expected to drive the orthopedic segment during the forecast period. Closed suction drains are predominantly used in orthopedic surgeries in large joint arthroplasties to reduce the risk of post-operative hematoma formation. In some cases, orthopedic physicians doubt that there may be a case of leakage from the wound, particularly in total knee replacement, if they do not use surgical drains. The neurosurgery segment is set to expand at the highest growth rate during the forecast period, owing to rise in complications in neurosurgery, increase in cases of surgical site infection during neurosurgery.
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Hospitals Segment to Account for Largest Market Share and Expand at the Fastest CAGR
The hospitals segment held the largest market share in 2017. The segment is anticipated to expand at the fastest CAGR during the forecast period. Hospitals are the preferred choice among people and are highly favorable settings for surgical procedures due to safe health care treatment procedures, health care insurance coverage, availability of advanced health care technology, and beds for a large number of people.
Asia Pacific Market to be driven by Rise in Population in China and India
In terms of revenue, North America is likely to continue to dominate the global surgical drainage devices market in 2017, owing to significant number of surgeries, rise in adoption of surgical drainage devices to decrease the risk of post-surgical infections, presence of key market leaders, and technological advancements. The market in Asia Pacific is anticipated to expand at the highest CAGR during the forecast period. The market in the region is primarily driven by increase in population in India and China, rise in the number of trauma and burn cases, developing health care infrastructure, presence of key market leaders, and participation of domestic players. Increase in adoption of technologically advanced equipment and trend of cost-effective health care services are the major factors expected to fuel the growth of the independent clinics segment in Asia Pacific from 2018 to 2026.
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Acelity, Smith & Nephew, ConvaTec, and Cardinal Health Dominate the Market
The report also provides profiles of leading players operating in the global surgical drainage devices market. Acelity, Smith & Nephew, ConvaTec, and Cardinal Health are the major players operating in the market, offering products with proprietary technologies. Other players include B. Braun Melsungen AG, BD, Cook Medical, Medtronic, Teleflex Incorporated, Stryker, Johnson and Johnson, REDAX, Integra LifeSciences, and Medela AG. Major industry events related to the market are acquisition of C. R. Bard by BD for US$ 24 Bn in November 2017, acquisition of OrthoD Group (a U.K.-based company on wound drainage and other fixation devices) by Apposite Capital in March 2018, acquisition of Argon Medical Devices (a U.S.-based company on drainage catheter) by Shandong Weigao Group Medical Polymer Co in September 2017.
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