New York, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The global paracentesis drainage systems market size is predicted to expand at ~ 7 % CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 4 billion by the end of 2035, up from a revenue of ~USD 1 billion in the year 2022. owing to the increasing prevalence of patients with ascites around the world. As ascites are caused by lifestyle diseases and lifestyle changes, the rising prevalence of such diseases is leading to an increased demand for treatment options, which is anticipated to propel market growth. Paracentesis is a minimally invasive procedure that can remove large amounts of ascites quickly and efficiently. It helps to reduce the risk of infection associated with ascites and helps to improve the patient's quality of life. In addition, cancer and abdominal infections can cause inflammation in the abdomen, which can lead to fluid build-up.
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Liver cirrhosis impairs the liver's ability to filter toxins from the blood, leading to fluid accumulation in the abdomen. Also, the increasing prevalence of cancer, abdominal infections, and liver cirrhosis, and the growing awareness about the condition and its treatments are also expected to drive the market in the forecast period. The World Health Organization (WHO) estimated that cancer killed nearly 10 million people in 2020, with 2.26 million suffering from lung cancer and 1.09 million suffering from stomach cancer. The number of children and adolescents diagnosed with cancer each year ranges from 400,000 to 500,000.Global Paracentesis Drainage Systems Market: Key Takeaways
- Market in North America to grow at a faster rate over the next few years
- The evaluation of acute abdomen segment to garner the most growth
- Market in Asia Pacific to propel at highest growth
Rising Incidence of Chronic Diseases Such as Heart Failure, Cancer, And Cirrhosis to Boost Market Growth
As people suffer from chronic diseases such as heart failure, cancer, cirrhosis, they often require procedures like paracentesis, which is a procedure that involves inserting a needle or tube into the abdominal cavity to remove fluid. Paracentesis drainage systems market facilitate this procedure, and the increasing prevalence of chronic diseases is driving the need for these systems. Moreover, the increasing prevalence of lifestyle diseases, such as diabetes, obesity, and hypertension, has led to a rise in the incidence of cardiovascular diseases, which is one of the major causes of heart failure. For instance, the Centers for Disease Control and Prevention estimates that there were about 6.2 million heart failure cases in 2020. Similarly, the growing alcohol consumption and smoking rates have led to an increase in the cases of liver cirrhosis and abdominal cancer. All of these factors have contributed to the rise in ascites cases, resulting in the growth of the market. Further, hepatitis, alcohol abuse, and other types of viruses are the most common causes of liver cirrhosis. Also, the Centers for Disease Control and Prevention reported that 4.5 million Americans suffered from liver disease in 2018. As such diseases increase in prevalence, they weaken the body's ability to fight infections and heal itself, so drainage systems are needed to facilitate the removal of fluids and other toxins from the body.
Global Paracentesis Drainage Systems Market: Regional Overview
The global paracentesis drainage systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Number of People Suffering from Non-Communicable Diseases to Boost the Market Growth in the North America Region
The paracentesis drainage systems market in the North America region is estimated to garner the largest revenue by the end of 2035 on account of the increasing prevalence of chronic diseases such as cancer, diabetes, and end-stage renal disease in North America, as well as the presence of advanced healthcare infrastructure in the region. A study conducted by the Centers for Disease Control and Prevention showed that New Mexico had a death rate caused by chronic liver disease of 33.4% per 100,000 people in 2020. Also, over 785,000 Americans suffer from end-stage renal disease (ESRD), with 70 percent receiving dialysis and 28 percent receiving transplants. Paracentesis drainage systems are used to manage the buildup of fluid in the abdomen caused by end-stage kidney failure. It involves inserting a catheter into the abdomen and draining out excess fluid, which can help reduce swelling and discomfort. Moreover, the increase in healthcare spending in the region and the increasing number of clinical trials conducted in North America also contribute to the regional market's growth. For instance, health spending in the US is expected to increase at a 5.5 percent annual rate to USD 6.0 trillion by the year 2027, according to the Centers for Medicare & Medicaid Services.
Government Investment in Healthcare Development to Drive Market Growth in the Asia Pacific Region
The paracentesis drainage systems market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035. Governments in the Asia Pacific region are investing heavily in the healthcare sector, which has led to the development of advanced healthcare infrastructure and systems. This has made it easier for healthcare professionals to access and use paracentesis drainage systems, leading to a surge in their usage and a corresponding increase in the size of the regional market. For instance, in order to improve the country's healthcare infrastructure, the Indian government intends to implement a credit incentive program worth USD 6.7 billion. Furthermore, the upswing in prevalence of heart disease and the rising awareness of minimally invasive treatments for cardiac diseases are expected to drive regional market growth in Asia Pacific, since such diseases cause irregularities in fluid removal from the lungs. For instance, heart disease accounts for the majority of India's mortality. Approximately 25% of all deaths are caused by heart disease. More than 80% of CVD deaths in India result from ischemic heart disease and stroke. Moreover, regional market growth is driven by the increasing awareness among healthcare professionals about the benefits of the paracentesis procedure, the adoption of advanced technologies, and the presence of major players in the region.
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Global Paracentesis Drainage Systems, Segmentation by End User
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Long Term Care Facilities
- Day Care Centers
The hospitals & clinics segment is anticipated to hold the largest revenue by the end of 2035. Hospitals and clinics require a large number of paracentesis drainage systems, as they are used to diagnose and treat conditions such as ascites and pleural effusions. Additionally, many hospitals and clinics are now expanding their services to include ambulatory surgery centers and diagnostic procedures, which is further expected to enhance segment growth in the coming years. Additionally, the increasing number of surgeries being performed in hospitals and clinics continues to drive the demand for paracentesis drainage systems market, as they are used to drain excess fluid from the body during surgery and to monitor the fluid balance of the patient before and after surgery. It was observed that in 2019, there were more than 1.80 million surgical operations performed in registered hospitals with more than 50 beds in the United States. Furthermore, the rising prevalence of chronic diseases such as cancer and cystic fibrosis, which require the use of these systems, along with rising patient footfalls in hospitals, are also expected to contribute to the growth of this segment. For instance, United States hospitals reported more than 35 million admissions in 2019.
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Global Paracentesis Drainage Systems, Segmentation by Application
- Diagnostic Procedures
- Treatment of Respiratory Distress
- Evaluation of Acute Abdomen
- Others
The acute abdomen segment is anticipated to hold the largest revenue by the end of 2035, owing to the increase in the incidence of acute abdominal diseases, such as appendicitis and pancreatitis, which require paracentesis drainage systems market
for diagnosis and treatment. Approximately 248,000 people in the US are diagnosed with acute appendicitis each year, with people between 20 and 30 being the most likely to suffer from it. Acute abdomen is one of the most common medical conditions that requires drainage and can be treated with the help of paracentesis drainage systems. It is caused by a buildup of pressure, fluid, or gas in the abdomen and is often caused by infections, appendicitis, and other digestive issues. The number of people suffering from acute abdomen is expected to rise as the population ages and medical care becomes more accessible, resulting in a greater demand for paracentesis drainage systems market. Moreover, growing awareness about the benefits of paracentesis, increasing incidents of abdominal pain, and rising demand for better diagnosis and treatment of abdominal pain have all contributed to the growth of this segment.
Global Paracentesis Drainage Systems, Segmentation by Aspiration
- Large Volume Removal
- Percutaneous Aspiration
Few of the well-known market leaders in the global paracentesis drainage systems market that are profiled by Research Nester are Merit Medical Systems, Inc., Cardinal Health, Inc., Avanos Medical, Inc., Teleflex Incorporated, Boston Scientific Corporation, GI Supply, Inc., CardioMed Supplies Inc., Becton, Dickinson and Company, Rocket Medical plc., pfm medical ag., and other key market players.
Recent Development in the Global Paracentesis Drainage Systems Market
- A new product named One-Vac Evacuated Drainage Bottle by Merit Medical Systems, Inc. has been introduced to the market. This bottle is flexible and efficient for paracentesis procedures. Patients who undergo regular drainage procedures will benefit from this product. The devices are made of plastic to prevent them from breaking.
- A medium-sized medical device company, Hirtz & Co., KG (HiCo), has been acquired by Pfm Medical Ag. As a result, HiCo is able to maintain its legal independence from its customers and suppliers. Medical device manufacturer pfm Medical has been able to expand its market potential through this acquisition.
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