According to a new report published by UnivDatos Markets Insights, the Drainage Catheters Market is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Product Type (J-tip, Standard loop, and Tight loop); Application (Chest Drainage Catheters, External Ventricular Drainage Catheters, Cerebrospinal Fluid Drainage Catheters, and Others); End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and Others); Region/Country.
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The drainage catheters market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the drainage catheters market. The drainage catheters market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the drainage catheters market at the global and regional levels.
A drainage catheter is a hollow flexible tube for insertion into a body cavity, duct, or vessel to allow the passage of fluids or distend a passageway. The increasing burden of pulmonary diseases such as pulmonary edema and COPD where collected fluid can cause difficulty in breathing, as well as increased reimbursement options, are the important catalytic factors responsible for the market growth of drainage catheters. For instance, as per the WHO, Chronic obstructive pulmonary disease (COPD) is the third leading cause of death worldwide, causing 3.23 million deaths in 2019.
Factors such as technological advancements and frequent product launches in drainage procedures also catalyze the growth of the drainage catheter market.
Some of the major players operating in the market include Some of the major players operating in the market include ICU Medical, Inc; SORIN CORPORATION; Argon Medical Devices, Inc.; MedizinTechnik GmbH & Co. KG; Teleflex Incorporated; Medtronic; Redax S.p.a.; Medela AG.; PAHSCO; and Cook
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The COVID-19 pandemic had a staggering and unprecedented impact on the global market. However, the market for drainage catheters is also had a did not affect by the COVID-19 pandemic. The drainage procedures are considered among the emergency surgeries as filled fluid can cause damage to the surrounding tissues and organs which could be fatal in many cases.
· Based on the product type, the market has been categorized into J-tip, standard loop, and tight loop. Among them, the tight-loop segment is expected to grow at a higher CAGR in the market. The higher flexibility of the loops gives them better reach to the internal tissue, as well as these loops are resistant to compression and blockage attributed to the growth of the segment at a fast rate.
· On the basis of application, the market is categorized into chest drainage catheters, external ventricular drainage catheters, cerebrospinal fluid drainage catheters, and others. Among these, chest drainage catheters to hold a significant share in the market in 2020. The rising prevalence of pulmonary disorders, along with the changing lifestyle preferences such as smoking and increasing alcoholic consumption attributes to the growth of the segment. For instance, as per the American Cancer Society, the estimated number of lung cancer in the United States for 2022 is about 236,740 new cases of lung cancer.
· Based on the end-user, the market has been categorized into hospitals, specialty clinics, ambulatory surgical centers, and others. Among them, the ambulatory surgical center’s segment holds a higher CAGR during the forecast period. The ambulatory surgical centers provide the point of care treatment, can offer low-cost treatment, and reduces waiting time in emergency cases. These factors are responsible for the segmental growth of ambulatory surgical centers.
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Drainage Catheters Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
Asia-Pacific is anticipated to grow at the fastest rate during the forecast period. The major factors such as the development of better healthcare and research infrastructure, along with the increasing incidences of neurological disorders in the region attributes to the fast growth of the region in the drainage catheters market. For instance, in 2019, stroke caused 699,000 deaths in India, which was 7.4% of the total deaths in the country.
The major players targeting the market include
· ICU Medical, Inc
· SORIN CORPORATION
· Argon Medical Devices, Inc.
· MedizinTechnik GmbH & Co. KG
· Teleflex Incorporated
· Redax S.p.a.
· Medela AG.
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Drainage Catheters market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the drainage catheters market?
• Which factors are influencing the drainage catheters market over the forecast period?
• What are the global challenges, threats, and risks in the drainage catheters market?
• Which factors are propelling and restraining the drainage catheters market?
• What are the demanding global regions of the drainage catheters market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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