Rockville, Dec. 08, 2022 (GLOBE NEWSWIRE) -- The drainage bottle market was valued at US$ 473.3 Million in 2021 and is expected to grow at CAGR of 8.5% from 2022 to 2032. The market is predicted to present an absolute value opportunity of US$ 640 Million.
Increasing prevalence of cardiovascular disease is expected to boost the waste bottle business. According to American Heart Association heart disease and stroke statistics, in 2019, more than 18.6 million people succumbed to cardiovascular diseases, an increase of more than 17.1% over the preceding decade. In 2019, over 523.2 million cases of cardiovascular diseases were registered, a surge of over 26.6% compared to 2010.
According to Fact.MR, sales of drainage bottle has grown at a CAGR of around 7.9% from 2017 to 2021. The U.S. is expected to dominate the global market on the back of growing cases of cardiovascular diseases, diabetes, and cancer. Further, with increasing number of hospitals and clinics in the country along with improved healthcare infrastructure, the demand in the market is predicted to burgeon.
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However, with surge in the number of road accidents, increasing number of healthcare facilities, and favourable government policies, Asia Pacific is expected to spearhead the growth in the market.
According to Ministry of Road Transport and Highways, around 3,66,138 road accidents were recorded across India in 2020. Out of which, nearly 131,714 people succumbed to road accidents wounds and 348,279 were gravely injured. This increase in the number of road accidents is pushing the demand for drainage bottles for wound drainage.
In addition to this, Fact.MR opines, based on application, the chest drainage segment is projected to grow at a CAGR of 10.4% during the forecast period (2022-2032). Among the end-user segment, hospitals and clinics are projected to contribute the most to the drainage bottle market, exhibiting a CAGR of 9.6% between 2022 and 2032.
Key Takeaways:
- Middle East and Africa drainage bottle market is expected to grow swiftly during the forecast period.
- China is projected to lead the growth of the drainage bottles market, registering growth at a CAGR of 10.8%.
- Sales of drainage bottles in South Korea are anticipated to grow at 10.7% CAGR, while Japan is expected to witness impressive growth at 10.4% CAGR.
- In terms of application, accel evacuated segment is poised to expand at 8.7% CAGR over the assessment period.
- The demand in the drainage bottles market is predicted to increase by 2.5x during the projection period.
Growth Drivers:
- With the increase in the number of accidents and the frequency of injuries, the demand for the drainage bottles has increased significantly.
- Unprecedented outbreak of COVID has led to the emergence of illnesses such as pneumonia requiring chest tubes for treatment, increasing the demand for drainage bottles.
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Competitive Landscape:
Key players in the global drainage bottles market are focused on bringing innovation to the industry through research and development. In order to grow strategically, these companies are adopting various techniques such as mergers and acquisitions. They are also diversifying their portfolios, developing their distribution networks through product launches and collaborations.
For instance,
- In August 2021, Merit Medical Systems, leading manufacturer of disposable medical devices, announced the launch of One-Vac evacuated drainage bottle for the application of aspiration, removal, or to collect the sample of body fluids.
Key Companies Profiled by Fact.MR
- PAHSCO
- PFM Medical, Inc.,
- Lily Medical Corporation
- Hospitech
- MEDINORM Medizintechnik GmbH
- Jigsaw Medical, LLC
- B. Braun Medical Inc.,
- Sterimed Group
- Rocket Medical plc.
More Valuable Insights on Drainage Bottles Market
Fact.MR, in its latest study drainage bottles market, provides unbiased analysis on factors propelling the growth over the forecast period (2022-2032). The study also provides an in-depth analysis of the opportunities and drivers expected to drive demand for drainage bottles through comprehensive segmentation as follows:
By Application
- Chest Drainage
- Accel Evacuated
- Peritoneal Drainage
- Urostomy/ Urinary
- Wound Drainage
- Other Applications
By End-use
- Hospitals & Clinics
- Homecare
- Nursing Facilities
- Other End-uses
By Region
- North America
- Latin America
- Europe
- APAC
- Middle East & Africa
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Key Questions Covered in the Drainage Bottles Market Report
- What will be the demand outlook for the drainage bottles market during the forecast period?
- Which are the challenges faced in the drainage bottles market?
- Which region will lead the growth in the global drainage bottles market during 2022-2032?
- What is the projected market valuation of the drainage bottles market in 2032?
- Which are the factors driving the demand for drainage bottles during 2022-2032?
- Which application will generate maximum revenue in the global drainage bottles market?
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Fact.MR Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background and Foundation Data Points
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Ostomy Drainage Systems Market: An ostomy is a surgical procedure involving a stoma, an artificial opening made in the body's large intestine to expel body waste products such as mucus, stool, and urine. The market is predicted to witness robust growth over the upcoming decade. As per the study, the single use segment is expected to generate highest sales in the market.
Wound Drainage Devices Market: Wound drainage devices are often used after surgery to drain pus, blood, and other fluids from surgical wounds. The introduction of these devices reduces the risk of infection and helps healthy wound healing. Drainage systems are widely used by patients undergoing surgery to prevent fluid build-up in wounds. A wound drainage device consists of a tube with perforations that let fluid to drain from the surgical wound site.
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