Surgical Drainage Devices Market Analysis - Forecasts To 2025 By Product (Active, Passive); By Application (Abdominal Surgery, Cardiothoracic, Neurosurgery, Orthopaedics); By End-use (Ambulatory Surgical Centers, Hospitals, and Clinics); By Region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa); End-use Landscape; Vendor Landscape and Competitive Landscape - Global Market Estimates
Surgical Drainage Devices Market Insights
The global surgical drainage devices market is anticipated to witness a CAGR of more than 4 % over the forecast period. Increased occurrence of chronic diseases, rise in the number of surgeries, and a diverse product portfolio are few of the factors contributing to this growth.
Global rise in chronic diseases has resulted in a massive demand for surgical drain devices. The growth can be attributed to increased usage of these devices in diverse applications. Other factors leading to the market growth involves increase in smoking and alcohol consumption.
Growing trends of medical tourism in countries like Brazil, India, Turkey, and Malaysia has enabled patients to experience surgical procedures at reduced rates. This is anticipated to further boost the market in these countries. These procedures additionally require the use of customized drainage devices for specific conditions, which is likely to propel growth.
Surgical Drainage Devices Market - Product Insights
Based on the products, the Surgical Drainage Devices Market is segmented into active and passive devices. The active surgical drainage devices accounted for the largest share in 2016. These devices evacuate fluid and avoid build-up of air at the surgical site with the use of suction. Most of the times, negative pressure is used to drain fluid from the surgical site.
In spite of the accessibility of active drains, passive drains are preferred by surgeons as it allows easy removal of build-up of air and fluid in the surgical incision. Other factors leading to the growth of this segment includes less discomfort & pain during drainage along with reduced mechanical tissue injury.
Thus, with an expansion in occurrence of chronic and other diseases like osteoporosis and arthritis, the usage of active surgical drain devices is anticipated to increase in various end-use settings. Although advantages of using active devices are more than passive drainage devices, the diverse application of passive drain devices has allowed these products to penetrate the market at a higher level.
Surgical Drainage Devices Market - Application Insights
On the basis of application, Surgical Drainage Devices Market is segmented into cardiothoracic surgeries, neurosurgeries, abdominal surgeries and orthopaedics among others. Cardiothoracic surgeries accounted for the largest share of market in 2016 due to increased occurrence of cardiovascular diseases.
Increase in the number of surgeries being performed has led to growing acceptance of surgical drainage devices that are especially designed for cardiovascular surgeries. Various developers have designed surgical drain devices that are specially used in abdominal surgeries.
Drains are used in orthopedic surgeries for removing all sorts of abscess and to lessen the risk of contamination by bacterial growth in the fluid build-up. The increase in musculoskeletal diseases along with orthopedic trauma is anticipated to increase the number of surgeries being performed. Hence, this segment is likely to witness significant growth over the forecast period.
Surgical Drainage Devices Market: End-Use Insights
Based on end-users, surgical drainage devices market is categorized into hospitals, ambulatory surgical centres, and clinics. Hospitals accounted for the largest share in 2016 owing to the large number of surgeries being performed. Worldwide increase in number of ambulatory surgical centres is another crucial factor that is likely to stimulate growth of the market. Specialty clinics are also anticipated to witness lucrative growth over the forecast period due to its customized services according to the requirements of patients.
Surgical Drainage Devices Market - Regional Insights
North America accounted for largest revenue share in 2016. Increasing R&D investments along with favourable government initiatives directed toward reduction of chronic diseases is estimated to boost the industry growth.
Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period due to the rising penetration of healthcare organizations that are investing heavily in the region. Changing healthcare reforms are adding to the industry growth by allowing commercialization of new products.
Latin America is likely to experience significant growth over the forecast period due to an increase in prevalence of chronic diseases. Increasing occurrence of chronic diseases is projected to accelerate the growth of surgical drainage devices used for efficient removal of fluid and air build up in postsurgical procedures.
Surgical Drainage Devices Market: End-Use Landscape
The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from surgical drainage devices market. The major consumers of the product are Surgical Care Affiliates, UCLA Medical Center, and Memorial Sloan Kettering Cancer Center.
Surgical Drainage Devices Market - Competitive Landscape
Some of the key players of the market include Teleflex Incorporated, Acelity, Cardinal Health, Medtronic, Cook Medical, and Stryker. The market is highly competitive due to the presence of many large-, small-, and medium-scale players. Majority of the players are concentrating on advancement of new products.
Please note: This is not an exhaustive list of companies profiled in the report.
In May 2015, Cardinal Health announced the release of its Negative Pressure Wound Therapy (NPWT) portfolio. New products, Cardinal Health SVED and NPWT PRO, were released with a goal to provide better administration of chronic & acute wounds.
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The global Surgical Drainage Devices Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the industry analysis; industry trends; market analysis; market trends; market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Surgical Drainage Devices Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, VPs, CEOs, COOs, financial consultants, business consultants, strategy consultants, project management consultants, business management consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, demand forecasting, SWOT analysis of the companies, and customer analytics.
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