Surgical Drainage Devices Market Trends and Growth Factors Analysis
Global Surgical Drainage Devices Market - Snapshot
Surgical drainage devices are equipment that drain excess fluid or air from the operation site or wound so that the risk of formation of hematoma is reduced and wound healing process is accelerated. The global surgical drainage devices market was valued at US$ 2.9 Bn in 2017 and is anticipated to expand at a CAGR of 4% from 2018 to 2026 to reach US$ 4 Bn by 2026.
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The global surgical drainage devices market is primarily driven by increase in geriatric population, surge in number of surgeries, rise in incidence of target diseases, and increasing trend of medical tourism. Lack of clinical knowledge and expertise and product recalls are likely to restrain the surgical drainage devices market during the forecast period. Adoption of minimally invasive procedures is increasing due to several advantages such as smaller incisions, less pain and scarring, fewer complications, shorter hospital stays, and faster recoveries. For example, cataract surgery is performed through minimally invasive procedure. A study conducted by the University of Minnesota, U.S., stated that around 3.6 million cataract procedures were performed in the U.S. in 2015. This number is expected to increase at an alarming rate in the near future.
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The ability to drain infected fluid percutaneously is considered to be one of the most significant developments in surgical drainage. Prior to the development of percutaneous drainage, it was invariable necessary for a patient to undergo major surgery. Increase in usage of image guided drainage devices has become another key trend in the global surgical drainage devices market. High unmet needs in the global surgical drainage devices market present significant opportunities for existing players and new entrants. Recent developments in the market are surgical drain line stripping devices by the Mayo Foundation for Medical Education and Research in April 2018, surgical drain management apparatus (post-surgical drain management punch) by iInspire, LLC in March 2018, and surgical drain system and method of use by Spectrum Spine IP Holdings, LLC in August 2017.
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In terms of product type, the global surgical drainage devices market has been segmented into active drainage and passive drainage. The active drainage segment is projected to grow at a rapid pace, as active drainage provides higher efficiency in wound healing than passive drainage. Based on application, the global market has been classified into general surgery, orthopedics, thoracic and cardiovascular, obstetrics/gynecology, plastic/reconstructive surgery, and neurosurgery. The orthopedics segment accounted for the largest market share in 2017, owing to rise in prevalence of musculoskeletal diseases such as rheumatoid arthritis, lupus erythematous, and osteoporosis, and increase in number of orthopedic procedures such as hip replacement, and knee replacement. In terms of end-user, the global surgical drainage devices market has been categorized into hospitals, independent clinics, ambulatory surgery centers, and others. The hospitals segment held the largest market share in 2017. The segment is anticipated to expand at the highest CAGR during the forecast period. Hospitals are the preferred choice among people and are highly favorable settings for procedures due to safe health care treatment procedures, health care insurance coverage, presence of developed health care technology, and availability of beds for a large number of people.
North America accounted for the largest share of the global surgical drainage devices market in 2017, followed by Europe. The region is anticipated to be the most lucrative market during the forecast period. Rise in number of orthopedic surgeries such as hip replacement and knee replacement, and high per capita health care expenditure are projected to accelerate the surgical drainage devices market in the region. The market in Asia Pacific is projected to expand at the highest CAGR during the forecast period.
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