Surgical Drainage Devices Market- Growth, Future Prospects and Competitive Analysis, 2017-2025, the global surgical drainage devices market was valued at US$ 1,932.1 Mn in 2016, and is expected to reach US$ 2,501.3 Mn by 2025, expanding at a CAGR of 2.9% from 2017 to 2025.
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Market Insights
The surgical drainage devices market is steadily progressing towards growth due to the increasing number of surgical procedures. Growth in the pool of geriatric population, increasing incidence of cancer and chronic diseases, and the corresponding rise in surgical procedures thus drive the global surgical drainage devices market. Evolution of reimbursement system in the emerging markets of Asia Pacific and Latin America also further support the demand for surgical drainage devices.
Based on the mechanism, there are two types of surgical drainage devices: Active and passive. Active drainage devices are in higher demand than the later due to their greater efficiency, less trauma and lowered risk of infection. Active drainage systems capture over 80% of the global surgical drainage devices market and will continue its dominance through the forecast period. Rapid fluid drainage and reduced risk of pressure necrosis mainly contribute to the dominance of this segment.
Based on the surgical sites the global surgical drainage devices market is categorized into general surgery, thoracic and cardiovascular surgery, orthopedic surgery, neurosurgery, obstetrics and gynecology, cosmetic and plastic surgery, and others. Among these, the demand for surgical drainage devices is the highest in orthopedic surgery segment. Heightened prevalence of orthopedic injuries, osteoporosis, joint ailments and consequent joint replacement and other surgical procedures greatly drive the orthopedic surgery segment in the global surgical drainage devices market.
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Between hospitals and specialty clinics, hospitals acquire the largest revenue share in the global surgical drainage devices market. Greater number of admissions in hospitals and surgical procedures being performed is the key factor determining the dominance of this segment. However, the demand for surgical drainage devices is anticipated to be the highest from other surgical centers such as ambulatory facilities and specialty clinics.
Geographically, the global surgical drainage devices is dominated by North America with 2016 revenue share of approximately 40%. Extensive prevalence of chronic diseases and cancer, greater number of surgical procedures being performed and rapid adoption of novel surgical devices are mainly attributed to the dominance of North America market. On the other hand, significant rise in the pool of geriatric population and growing number of surgical centers being established in Asia Pacific will make it the fastest progressing regional market for surgical drainage devices.
At present, the global surgical drainage devices market is characterized by presence of several mid and large sized manufacturers. The regional markets mainly witness the dominance of local players. Some of the major players operating in the global surgical drainage devices market include Acelity L.P Inc., B. Braun Melsungen AG, Cardinal Health, Cook Medical, C.R. Bard, Ethicon, Inc., Medela AG, Medtronic Plc, Stryker Corporation, Smith & Nephew, and Teleflex Incorporated.
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