Published: Mar, 2018
The global surgical drainage devices market has been prognosticated in a report by Transparency Market Research (TMR) to witness an intense degree of competition between leading players such as Cardinal Health, Smith & Nephew Plc., and Acelity L.P. Inc. All of the three manufacturers contributed to take hold of a colossal share of the market in the recent past. A latest scenario of the market reveals a shift in focus of key players putting mergers and acquisitions under the spotlight. Previously, there had been a high emphasis placed on technological advancement and product innovation to cement a strong position in the market.
According to TMR, there could be increased competition and market consolidation because of the rise in the number of acquisitions. By the completion of 2024, the global surgical drainage devices market has been foreseen to bag revenue worth US$3.5 bn while speeding its growth at a 2.6% CAGR during the forecast tenure 2016-2024. By product, active drainage devices could lead the market as they had secured a dominant share of 84.0% in 2016. By region, North America has been prophesied to take the driver’s seat in the market considering its 40.0% share attained in the same year.
Increasing Incidence of Road Accidents and Sports Injuries Propels Demand
The demand for surgical drainage devices could experience a surge in the coming years as a result of the increasing adoption of surgical procedures on the global platform. In the past few years, there has been a telling increase in the need for surgical procedures around the globe. This could be a result of the increase in geriatric population which is more prone to different kinds of chronic infections and diseases. Furthermore, the rising prevalence of sports injuries and road accidents has been anticipated to up the demand for surgical procedures.
Improving disposable income of people boosting the uptake of sophisticated and advanced treatments could be another factor helping with a decent growth in the world surgical drainage devices market. Rising usage of surgical drainage devices and technological developments have been foretold to swell the demand in the market.
Unavailability of Expert Practitioners Hinders Players to Improve Sales
As per a study presented in the report, the international surgical drainage devices market could be negatively impacted by certain issues faced by manufacturers such as lack of technical expertise among practitioners. Another factor which could hamper the growth of the market could be the lack of clinical knowledge.
However, the untapped potential of emerging regions such as Asia Pacific and the presence of multitudinous opportunities therein could help players to attain growth in the face of challenges. Increasing incidence of lifestyle-related diseases and rising awareness among consumers have been envisaged to set the tone for a valuable growth in the international surgical drainage devices market. Nevertheless, there could also be rewarding prospects birthing in developed regions such as North America on the back of the snowballing adoption of advanced treatment procedures and rising prevalence of cardiovascular diseases.
The information presented in this review is based on a TMR report, titled “Surgical Drainage Devices Market (Product - Active Drainage and Passive Drainage; Application - General Surgery, Orthopedics, Thoracic and Cardiovascular, Obstetrics/Gynecology, Plastic/Reconstructive Surgery, and Neurosurgery; End User - Hospitals, Specialty Clinics, and Ambulatory Surgery Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
- Rising base of geriatric population helps North America to sustain lead in the market.
- Technological advancements and growing usage of surgical drainage devices improve demand.
The global surgical drainage devices market has been segmented as presented below:
Global Surgical Drainage Devices Market by Product
- Active Drainage
- Passive Drainage
Global Surgical Drainage Devices Market by Application
- General Surgery
- Thoracic and Cardiovascular
- Plastic/Reconstructive Surgery
Global Surgical Drainage Devices Market by End User
- Specialty Clinics
- Ambulatory Surgery Centers
Global Surgical Drainage Devices Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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