Surgical Drainage Devices Market
Surgical Drainage Devices Market (Product Type - Active Drainage, Passive Drainage; Application - General Surgery, Orthopedics, Thoracic and Cardiovascular, Obstetrics/Gynecology, Plastic/Reconstructive Surgery, Neurosurgery; End use - Hospitals, Independent Clinics, Ambulatory Surgery Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019- 2027
Press Release :
- According to Transparency Market Research’s latest report on the global surgical drainage devices market for the historical period 2017–2018 and forecast period 2019–2027, aging population, increasing number of surgeries, increase in incidences of target diseases are projected to drive the global surgical drainage devices market during the forecast period
- According to the report, the global surgical drainage devices market was valued at US$ 2.9 Bn in 2018 and is anticipated to expand at a CAGR of 3.9% from 2019 to 2027
Aging Population: Key Drivers
The rapid growth in aging population leads to diseases such as eye disease, cardiovascular disease, neurological disorders etc., which has increased the number of surgeries globally.
According to The American Geriatrics Society, Adults age 65 and older are the fastest growing segment of the United States population, and their number is expected to double to 89 million people between 2010 and 2050. Based on these evolving demographics, it is expected that there will be a concurrent rise in the demand for a variety of surgical services, including vascular surgery, with a projected growth of 31% and general surgery, with a projected growth of 18%.
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Increasing number of surgeries boost market growth
- The growing adoption of minimally invasive procedures is increasing, due to several advantages, such as smaller incisions, less pain and scarring, fewer complications, shorter hospital stays, faster recoveries. For example, cataract surgery is performed through minimally invasive surgery.
- The population is expanding and aging. According to the US Census Bureau, the domestic population will increase 7.9% by 2010, and 17.0% by 2020. The fastest growing segment of this population consists of individuals over the age of 65; their numbers are expected to increase 13.3% by 2010 and 53.2% by 2020.
- Therefore, increasing number of surgeries is likely to increase demand for surgical drainage devices globally
Lack of clinical knowledge and expertise to hamper market
In-depth Clinical knowledge is important for successful and effective surgery. Lack of knowledge and expertise leads to several complications. For instance, little knowledge about the placement of surgical drainage device may develop the risk of leak between the drain tube and the operation site. In addition, misplacement may generate the threat of wound infection.
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Global Surgical drainage devices market: Competitive Landscape
- This report profiles major players in the global surgical drainage devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global surgical drainage devices market is highly fragmented, with the presence of a number of international as well as regional players
Leading players operating in the global surgical drainage devices market are
- B. Braun Melsungen AG
- Cook Medical
- Teleflex Incorporated
- Johnson and Johnson
- Cardinal Health
- Cardinal Health
- Smith & Nephew plc
- Acelity L.P. Inc
- Integra LifeSciences and Medela AG among others.
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Global Surgical drainage devices market: Key Developments
Key players in the global surgical drainage devices market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global surgical drainage devices market. A few expansion strategies adopted by players operating in the global surgical drainage devices market are:
- In 2015, the company invested US$1,146.0 Mn (previous year: US$ 1,409.9 Mn) in expansion of production capacities as well as in research and development of new products and processes. It invested US$ 378.4 Mn in 2017 and US$ 307.0 Mn in 2016.
- To become a market leader in surgical drainage devices market in December 2017, BD acquired Bard and its active and passive drains for cardio thoracic and abdominal surgery. The acquisition helped BD extend its surgical drainage device portfolio and become a market leader with an approximate revenue of US$ 16,000 Mn (second quarter of 2017-2018 annual cycle of BD)
- In January 2017, BD received FDA approval for extended application of Pleur X catheter. According to the company spokesperson, the new generation of Pleur X catheter is ready for use at home.
The report on the global surgical drainage devices market discussed individual strategies, followed by company profiles of manufacturers of surgical drainage devices. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global surgical drainage devices market.
Global Surgical Drainage Devices Market - Scope of Report
TMR’s report on the global Surgical Drainage Devices Market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global Surgical Drainage Devices Market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global Surgical Drainage Devices Market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the Global Surgical Drainage Devices Market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the Global Surgical Drainage Devices Market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the Global Surgical Drainage Devices Market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the Global Surgical Drainage Devices Market.
The report delves into the competitive landscape of the Global Surgical Drainage Devices Market. Key players operating in the global Surgical Drainage Devices Market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global Surgical Drainage Devices Market that have been profiled in this report.
Key Questions Answered in Global Surgical Drainage Devices Market Report
- What is the scope of growth of product companies in the Global Surgical Drainage Devices Market?
- What will be the Y-o-Y growth of the global Surgical Drainage Devices Market between 2019 and 2027?
- What is the influence of changing trends in technologies on the Global Surgical Drainage Devices Market?
- Will North America continue to be the most profitable market for Surgical Drainage Devices providers?
- Which factors are anticipated to hamper the growth of the global Surgical Drainage Devices Market during the forecast period?
- Which are the leading companies in the Global Surgical Drainage Devices Market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global Surgical Drainage Devices Market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global Surgical Drainage Devices Market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the Surgical Drainage Devices Market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the Surgical Drainage Devices Market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global Surgical Drainage Devices Market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global Surgical Drainage Devices Market more reliably and accurately.
Regional Segmentation of Surgical Drainage Devices Market
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Global Surgical Drainage Devices Market - Segmentation