The global Thoracic Drainage Devices market, which accrued revenue worth 650 (USD Million) in 2019, is set to record the CAGR of nearly 6.5% over the period from 2020 to 2026. The report offers assessment and analysis of the Thoracic Drainage Devices Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Thoracic drainage equipment is also referred to as chest tube, chest drain, thoracic catheter, and intercostal drain. Moreover, it is the equipment that helps in removing air, solids, and liquids from chest mediastinum. The key objective of using these equipment is removing of fluid & air quickly, avoiding, drained fluid and air from returning back to pleural space, and restoring of negative pressure in the latter for lung re-expansion. The equipment is utilized during heart surgeries, pleural effusion, and pneumothorax traumatic pneumothorax disorders.
Market Growth Dynamics
Escalating cases of heart ailments and rise in the pneumothorax disorders will amplify the expansion of thoracic drainage devices industry over the estimated timespan. In addition to this, surge in the occurrence of diabetes, obesity, and high blood pressure among the individuals are few of the key causes of cardiovascular ailments and this will result in proportion of open heart surgical operations, thereby spearheading the business elevation in the foreseeable future.
Moreover, rise in the hospitalization of patients due to pleural effusions along with spur in number of thoracic surgical operations will steer the market trends. Apart from this, there is a steep increase in the acceptance of thoracic drainage equipment in oncology & pain management sectors and this will embellish the product demand in the years to come. The equipment is used in early detection of tumor and find a slew of applications in military clinics, ambulatory surgical units, outpatient care centers, and hospitals.
Asia Pacific Market To Register Highest Growth Rate Over 2020-2026
The growth of the market in Asia Pacific over the estimated timespan is due to escalating aging population along with high proportion of awareness about the product benefits among the people of the region. Additionally, increase in the number of surgeries in the region will further contribute towards the regional market size in the coming years.
Key players influencing the market growth and profiled in the report include Medtronic, Utah Medical Products, Inc., Vygon SA, MAQUET Holding B.V. & Co. KG (Getinge AB), Rocket Medical plc, C. R. Bard, Inc. (BD), ATMOS MedizinTechnik GmbH & Co. KG, Teleflex Incorporated, Smiths Medical (Smiths Group plc), Cook Medical, Sinapi Biomedical, and Medela AG.
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