Thoracic Drainage Devices Market is projected to register a 4.6% CAGR By 2032

Thoracic Drainage Device sales are expected to grow at a compound annual growth rate (CAGR) of 4.6% and surpass a valuation of US$ 1 billion by 2032, according to Fact.MR, a source of competitive intelligence and market research. Because of the unexpected uptick in medical device technology advancements, the market is expected to grow gradually over the projected period. Thoracic drainage devices are primarily used to drain fluid, air, and particles from the chest's mediastinum or pleural cavity. The global increase in the prevalence of obesity, diabetes, high blood pressure, and cardiovascular diseases is the main factor driving the market for thoracic drainage devices. They are used in many different medical specialties, including thoracic surgery, infectious diseases, pulmonology, emergency medicine, general critical care, cardiology, cancer, and pain management. They are frequently made of transparent plastics such soft silicone or PVC.

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Also, it is anticipated that rising demand for early disease diagnosis and treatment will accelerate market sales growth. Furthermore, respective government's favourable reimbursement policies and rising incidence of spontaneous pneumothorax are expected to boost demand for thoracic drainage devices.

Growing popularity of minimally-invasive procedures and lower healthcare expenses associated with them as compared to standard surgical procedures are also anticipated to aid device demand growth. Demand for chest wall drainage devices will increase as people become more aware of MPE's effects and the importance of early diagnosis There has been a rise in the prevalence of heart disorders in the world, accounting for 26 million cases in the last one years, with additional millions more unidentified cases. This can be attributed to the increasing ageing population, increase in cardiovascular risk factors, sedentary lifestyles, etc.

Heart failure is a potentially fatal illness that lowers the quality of life and raises medical expenses. Approximately 550,000 new cases of congestive heart failure (CHF) are identified in the U.S. each year, according to the American Heart Association (AHA).

Furthermore, 750,000 people in Canada have been diagnosed with heart failure, and that number is rising every year, according to a Heart and Stroke Foundation of Canada report from February 2022.

Every year, the number of surgical procedures, particularly cardiothoracic surgeries, is rising. Thus, this rise in surgical procedures has contributed to an increase in thoracic drainage device sales.

Key Takeaways from Market Study

The global market for thoracic drainage devices is currently valued at US$ 688 million.

The market is projected to reach US$ 1.07 billion by 2032.

China's thoracic drainage devices market is predicted to rise at a CAGR of 4.3% from 2022 to 2032.

Demand for thoracic drainage devices utilized in thoracic surgeries and pulmonology is expected to rise at a CAGR of 5.2% from 2022 to 2032.

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Segments of Thoracic Drainage Devices Industry Research

By Product :
Pleural Drainage Catheters
Secured Needles
Thoracic Drainage Kits
Thoracic Drainage Systems

By Application :
Thoracic Surgeries & Pulmonology
Cardiac Surgeries
General Intensive Care & Emergency Medicine
Infectious Diseases
Others

By End User :
Hospitals
Ambulatory Surgical Centers
Specialty Clinics
Others

By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

Winning Strategy

Prominent manufacturers of thoracic drainage devices are Merit Medical Systems, Medela LLC, Smiths Medical, ATMOS MedizinTechnik GmbH & Co., KG., Becton, Dickinson Company, Cook Group, Inc., Maquet Holding B.V. & Co. KG, and Medela, Inc.

The leading cause for the development of thoracic drainage devices is the rising cases of chronic diseases. Leading manufacturers of thoracic drainage devices are adopting cutting-edge technologies and product line optimization strategies based on end user usability.

To lower the chance of Covid-19 spreading in its respiratory wards, Blackpool Victoria Hospital announced in October 2020 that it had partnered with Medela Healthcare and will utilise Medela's portable chest drainage equipment Thopaz+.

To enhance the tracking of medical supplies, pharmaceuticals, first aid kits, and personal protective equipment (PPE) in transit to pharmacies, hospitals, and other care facilities around the world, FourKites and Cardinal Health, Inc. established a global partnership in March 2021. For the 29,000 dispensaries and almost 90% of American hospitals that depend on Cardinal Health for essential supplies, FourKites' excellent analytics and tracking capabilities were anticipated to help Cardinal Health improve supply chain processes and enable a quick, dependable, and frictionless experience.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global thoracic drainage devices market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study divulges essential insights on the market on the basis of product (pleural drainage catheters, secured needles, thoracic drainage kits, thoracic drainage systems), application (thoracic surgeries & pulmonology, cardiac surgeries, general intensive care & emergency medicine, infectious diseases, others), and end user (hospitals, ambulatory surgical centers, specialty clinics, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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