Thoracic Drainage Devices Market
According to the report, global demand for thoracic drainage devices market was valued at approximately USD 616.4 million in 2018, and is expected to generate revenue of around USD 879.3 million by end of 2025, growing at a CAGR of around 5.3% between 2019 and 2025.
The report covers forecast and analysis for the thoracic drainage devices market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the thoracic drainage devices market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the thoracic drainage devices market on a global as well as regional level.
In order to give the users of this report a comprehensive view on the thoracic drainage devices market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein Product Type and services segment is benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the thoracic drainage devices market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new Product Type launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the thoracic drainage devices market on global and regional basis.
The removal of empyemas first executed many centuries ago, was the commencement of thoracic drainage. The following acquisition of a superior knowledge of the physiology, pathology, and anatomy of the pleural space defined the design of drainage systems and thoracic catheters and the advance of the methods. Furthermore, an improved understanding of the physics of air flow and vacuum carried out improvements in the usage of suction with drainage. The thoracic drainage devices are mainly used for disease symptoms of pneumothorax, pleural effusion, traumatic pneumothorax and cardiac surgery.
Factors such as growing preference for minimally invasive surgeries, increasing prevalence of cardiovascular disorders, improving reimbursement scenario, and growth in liability of spontaneous pneumothorax will act as major driving factors in the growth of global thoracic drainage devices market. Technological advancements in the field of medical devices and increasing awareness will act as an opportunity for the market players in the thoracic drainage devices market. Nonetheless, high cost of treatment and low awareness in developing regions will restrict the growth of global thoracic drainage devices market.
The global thoracic drainage devices market has been split into Product Type type, application, end use, and region. Based on Product Type type, thoracic drainage devices market has been segmented into trocar drain, thoracic drainage system, secured needle, unsecured needle, thoracic drainage kit, and pleural drainage catheter. The thoracic drainage system segment accounted for the highest market share in 2018 due to growing preference for minimally invasive surgeries. The application segment has been divided into cardiac surgery, thoracic surgery and pulmonology, emergency medicine and general intensive care, military medicine, infectious disease, pain management, and oncology. The end user segment has been divided into cardiac surgery, thoracic surgery and pulmonology, emergency medicine and general intensive care, military medicine, infectious disease, pain management, and oncology.
North America will be the leading region during the forecast period. U.S. accounted for the highest share in the North America region due to presence of major market players and rapid uptake of latest technology. Europe is expected to be the second major market. The key reasons are presence of skilled physicians and high healthcare expenditure. Asia Pacific will grow at the topmost CAGR due to presence of large patient pool, rise in awareness regarding thoracic drainage devices. The Latin America region will grow at a significant rate during the assessment period. The Middle East & Africa region is expected to exhibit definite progression in the anticipated time-frame.
The report also includes detailed profiles of key players such as Vygon S.A., Teleflex Incorporated, Medtronic plc., Cook Medical, ATMOS Medizin Technik GmbH & Co. KG, C. R. Bard, Inc., Utah Medical Product Types, Inc., Medela, MAQUET Holding B.V. & Co. KG, Sinapi Biomedical, and Smiths Medical among others.
This report segments the Global Thoracic Drainage Devices Market as follows:
Global Thoracic Drainage Devices Market: By Application
Global Thoracic Drainage Devices Market: By Product Type
Global Thoracic Drainage Devices Market: By End Use
Global Thoracic Drainage Devices Market: By Region