Thoracic Drainage Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Thoracic Drainage Devices Market Analysis
The Thoracic Drainage Devices Market is expected to grow at a CAGR of 3.5%, over the forecast period.
The comorbidities that raise the risk of death from infection with severe acute respiratory syndrome coronavirus 2 are frequently linked to surgical wounds and drains. To lower the danger in this susceptible population, suitable precautions are used when caring for patients with wounds. This is expected to have a significant impact on the market in COVID. As per the study published in April 2021, titled "Chest Tube Drainage in the Age of COVID-19", in patients with unknown COVID-19 status when chest tube placement is required on an urgent or emergent basis or in a patient with confirmed COVID-19-positive status, the procedure should be performed in a negative-pressure airborne precaution isolation room. Therefore, due to the above-mentioned factors, the market is observed to have a significant impact during the pandemic. Even with the ongoing coronavirus pandemic, the healthcare and medical sector has seen a high rise globally. However, because of the restrictions on mobility, the disruption of supply chains, the scarcity of raw materials, and the temporary suspension of manufacturing, the global market will experience diminishing growth.
Thoracic drainage devices are designed to remove air, liquids, and some solids from the pleural space of the chest. Factors such as rising demand for minimally invasive surgeries, high prevalence of cardiovascular diseases, and increase in the burden of spontaneous pneumothorax are driving the growth of the thoracic drainage devices market. The rise in demand for minimally invasive procedures over open surgery is triggering a high market growth rate.
The prevalence of heart failure is increasing worldwide to an estimated number of 26 million, with additional millions of undiagnosed cases, due to the aging population, increase in cardiovascular risk factors, and improved survival of cardiovascular conditions. Heart failure is a life-threatening syndrome that impacts the quality of life as well as healthcare costs. According to the American Heart Association (AHA), approximately 550,000 new cases of congestive heart failure (CHF) are diagnosed in the United States each year. Further, as per the article published by the Heart and Stroke Foundation of Canada in February 2022, there are 750,000 people diagnosed with heart failure, which is increasing every year. Thus, statisticians forecasted the impact on the healthcare system, and by 2030, the healthcare costs associated with heart failure in Canada are expected to reach USD 2.8 billion per year. In the United States, healthcare cost is expected to increase to USD 69.8 billion in 2030. Therefore, the rising cases of heart failure and increasing healthcare cost demands thoracic devices to reduce the cost.
The rate of surgical procedures including the cardiothoracic surgeries continues to increase annually. Ultimately, an increase in the number of surgeries has resulted in the growth of the thoracic drainage market, as the demand for these devices in various surgeries is growing. As per an article titled 'Trends in US Surgical Procedures and Health Care System Response to Policies Curtailing Elective Surgical Operations During the COVID-19 Pandemic' published in December 2021, a total of 13,108,567 surgical procedures were identified from January 2019, through January 2021, based on 3498 Current Procedural Terminology (CPT) codes. The high volume of surgical procedures is expected to accelerate the market growth.
Furthermore, reducing healthcare costs involved in undergoing a minimally invasive procedure when compared to the normal surgical procedure has also been an instrumental factor driving the market growth. Hence, there is an increasing care provider's preference for minimally invasive procedures for a range of surgical applications which is expected to boost the demand for thoracic drainage devices worldwide.
However, lack of availability of skilled physicians and stringent regulatory guidelines may hinder the growth of the market over the forecast period.
Thoracic Drainage Devices Market Trends
This section covers the major market trends shaping the Thoracic Drainage Devices Market according to our research experts:
Thoracic Surgery & Pulmonology Segment is Expected to Register a Significant Growth in the Forecast Years
By application, the thoracic surgery and pulmonology segment is anticipated to register a significant growth rate during the forecast period. Factors that are driving the segment growth include the rising prevalence of pulmonary diseases and the growing geriatric population. Pulmonary diseases affect the airways and other parts of the lungs for a long duration of the period.
Thoracic and pulmonological disorders are quite common and the prevalence of these disorders is increasing as compared to other applications this trend is expected to continue over the forecast period. As per the study published in January 2022, titled "A brief overview of thoracic surgery in the United States" approximately 530,000 general thoracic surgery cases are performed yearly in the United States by around 4,000 cardiothoracic surgeons. Moreover, as per the United States Census and the Society of Thoracic Surgery, data updated in July 2021 by 2030, it is expected that there will be about 3,000 cardiothoracic surgeons available to cover about 854,000 cases. Thoracic drainage devices are used in the treatment of pneumothorax, pleural effusions, and empyema disorders. In addition, growing public awareness and a large patient pool also contribute to the growth of the studied market.
Moreover, as per the Asthma and allergy foundation of America published in March 2021, Roughly 1 in 13 Americans have asthma, which is about 25 million people. Asthma is one of the largest contributors to this figure, affecting children, adults, and elderly people. The same source stated that about 5 million American children have asthma. There is a high prevalence of severe asthma in the Middle East & Africa and the Latin America region as compared to the mid-range of prevalence in North America, Europe, and Asia-Pacific countries. Thus, with the increasing number of cases of pulmonary infections, the demand for thoracic drainage devices is expected to increase over the forecast period. Thus, the aforementioned factors are boosting the growth of the market segment over the forecast period.
North America is Expected to Dominate the Thoracic Drainage Devices Market
North America is expected to lead the market, owing to high standards of healthcare infrastructure and easy availability of sophisticated technology in this region. This is primarily attributed to rising incidences of chronic diseases as well as higher healthcare expenditure in countries in the region.
According to the Centers for Disease Control and Prevention (CDC)'s Article titled 'Heart Disease Facts,' updated in February 2022, Heart disease is one of the leading causes of death in the United States. The same source also reports that every year about 659,000 Americans have a heart attack. With the increasing prevalence of heart diseases globally, the need for heart surgery increases requiring thoracic drainage devices, thus, driving the studied market.
Additionally, the region has seen a sharp increase in chronic disorders in recent years. According to National Center for Chronic Disease Prevention and Health Promotion, data updated in June 2022, 6 in 10 Americans live with at least one chronic disease, like heart disease and stroke, cancer, or diabetes. These and other chronic diseases are the leading causes of death and disability in America, and they are also a leading driver of health care costs. The need for thoracic drain devices has been sparked for this reason, which has improved growth prospects.
Thus, the aforementioned factors are expected to drive market growth over the forecast period.
Thoracic Drainage Devices Industry Overview
The thoracic draininage devices market is moderately competitive and consists of a few major players. The major players in the thoracic drainage devices market include ATMOS MedizinTechnik GmbH & Co. KG, Becton, Dickinson and Company, Cardinal Health, Cook Group Incorporated, Getinge AB, Sinapi Biomedical, Smiths Group plc, Teleflex Incorporated, Utah Medical Products, Inc. and Vygon SA.
Thoracic Drainage Devices Market Leaders
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Becton Dickinson and Company
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Cardinal Health
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Cook Goup Incorporated
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Getinge AB
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Smith Group plc
*Disclaimer: Major Players sorted in no particular order
Thoracic Drainage Devices Market News
- In April 2022, Merit Medical Systems, Inc. launched ReSolve Thoracostomy Tray. The new tray contains all products needed for performing a thoracostomy, a minimally invasive technique that allows patients to avoid an open surgical procedure to drain fluids or air from the chest.
- In December 2020, Medela LLC, announced that its Thopaz+ Digital Chest Drainage and Monitoring System underwent multiple quantitative tests that demonstrate its filtration system effectively blocks the passage of aerosolized viral particles such as SARS-CoV-2, the virus responsible for COVID-19.
Thoracic Drainage Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Number of Heart and Thoracic Surgeries
- 4.2.2 High Prevalence of Cardiovascular Diseases
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4.3 Market Restraints
- 4.3.1 Lack of Availability of Skilled Physicians
- 4.3.2 Stringent Regulatory Guidelines
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product
- 5.1.1 Thoracic Drainage Systems
- 5.1.2 Thoracic Drainage Kits
- 5.1.3 Pleural Drainage Catheters
- 5.1.4 Trocar Drains
- 5.1.5 Others
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5.2 By Application
- 5.2.1 Cardiac Surgery
- 5.2.2 Oncology & Pain Management
- 5.2.3 Thoracic Surgery & Pulmonology
- 5.2.4 General Intensive Care Emergency Medicine
- 5.2.5 Others
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5.3 By End-User
- 5.3.1 Hospitals & Clinics
- 5.3.2 Ambulatory Surgery Centers
- 5.3.3 Others
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Rest of the World
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 ATMOS MedizinTechnik GmbH & Co. KG
- 6.1.2 Becton, Dickinson and Company
- 6.1.3 Cardinal Health
- 6.1.4 Cook Group Incorporated
- 6.1.5 Getinge AB
- 6.1.6 Sinapi Biomedical
- 6.1.7 Smiths Group plc
- 6.1.8 Teleflex Incorporated
- 6.1.9 Utah Medical Products, Inc.
- 6.1.10 Vygon SA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityThoracic Drainage Devices Industry Segmentation
As per the scope of the report, thoracic drainage devices are used to drain air, fluid, or blood from the thoracic space to prevent the lungs from collapsing. These devices are primarily used for disease indications such as pneumothorax, cardiac surgery procedures, and pleural effusion. The Thoracic Drainage Devices Market is Segmented by Product (Thoracic Drainage Systems, Thoracic Drainage Kits, Pleural Drainage Catheters, Trocar Drains, and Others), by Application (Cardiac Surgery, Oncology & Pain Management, Thoracic Surgery & Pulmonology, General Intensive Care Emergency Medicine and Others), End-user (Hospitals & Clinics, Ambulatory Surgery Centers, and Others) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Product | Thoracic Drainage Systems | |
| Thoracic Drainage Kits | ||
| Pleural Drainage Catheters | ||
| Trocar Drains | ||
| Others | ||
| By Application | Cardiac Surgery | |
| Oncology & Pain Management | ||
| Thoracic Surgery & Pulmonology | ||
| General Intensive Care Emergency Medicine | ||
| Others | ||
| By End-User | Hospitals & Clinics | |
| Ambulatory Surgery Centers | ||
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Rest of the World |
Thoracic Drainage Devices Market Research FAQs
What is the current Global Thoracic Drainage Devices Market size?
The Global Thoracic Drainage Devices Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Global Thoracic Drainage Devices Market?
Becton Dickinson and Company, Cardinal Health, Cook Goup Incorporated, Getinge AB and Smith Group plc are the major companies operating in the Global Thoracic Drainage Devices Market.
Which is the fastest growing region in Global Thoracic Drainage Devices Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Thoracic Drainage Devices Market?
In 2024, the North America accounts for the largest market share in Global Thoracic Drainage Devices Market.
What years does this Global Thoracic Drainage Devices Market cover?
The report covers the Global Thoracic Drainage Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Thoracic Drainage Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thoracic Drainage Devices Industry Report
Statistics for the 2024 Thoracic Drainage Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thoracic Drainage Devices analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
