The thoracic drainage devices market is a segment of the healthcare industry that includes products used to remove excess air, fluid, or blood from the pleural space or chest cavity. These devices are commonly used in patients suffering from pneumothorax, hemothorax, pleural effusion, or empyema. The growing prevalence of respiratory diseases such as lung cancer and chronic obstructive pulmonary disease (COPD), as well as an increase in the number of surgeries involving the chest cavity, are driving the market for thoracic drainage devices. Furthermore, technological advancements have resulted in the development of new and innovative devices that are more efficient and easier to use, driving market growth even further.
Chest tubes, thoracentesis catheters, pleural drainage systems, and thoracoscopy devices are some of the thoracic drainage devices on the market. These devices are suitable for use in a variety of clinical settings, such as hospitals, ambulatory surgical centres, and clinics.
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Key Takeaways from Market Study
- The global market for thoracic drainage devices is currently valued at US$ 688 million.
- The market is projected to reach US$ 1.07 billion by 2032.
- China’s thoracic drainage devices market is predicted to rise at a CAGR of 4.3% from 2022 to 2032.
- Demand for thoracic drainage devices utilized in thoracic surgeries and pulmonology is expected to rise at a CAGR of 5.2% from 2022 to 2032.
Winning Strategy
The rise in chronic disease cases is the main factor behind the development of thoracic drainage devices. Thoracic drainage device industry leaders are implementing cutting-edge technologies and product line optimization techniques based on end-user usability.
- Blackpool Victoria Hospital announced in October 2020 that it had partnered with Medela Healthcare and would use Medela’s transportable chest drainage device Thopaz+ to reduce the likelihood of Covid-19 spreading in its respiratory wards.
- In March 2021, FourKites and Cardinal Health, Inc. formed a global partnership to improve the tracking of medical supplies, medications, first aid kits, and personal protective equipment (PPE) in transit to pharmacies, hospitals, and other care facilities around the world. FourKites’ outstanding analytics and tracking capabilities were expected to help Cardinal Health improve supply chain procedures and enable a quick, dependable, and frictionless experience for the 29,000 dispensaries and nearly 90% of American hospitals that rely on Cardinal Health for essential supplies.
Key Companies Profiled
- ATMOS MedizinTechnik GmbH & Co., KG.
- Becton, Dickinson Company
- Cook Group, Inc.
- Maquet Holding B.V. & Co. KG
- Medela, Inc.
- Medtronic PLC
- Sinapi Biomedical
- Smiths Medical
- Teleflex Inc.
- Utah Medical Products, Inc.
- Vygon SA
North America is the largest market for thoracic drainage devices, followed by Europe and Asia Pacific. The market is highly competitive, with key players including Medtronic plc, Teleflex Incorporated, Smiths Medical, B. Braun Melsungen AG, and Cook Medical. These companies focus on developing innovative products, expanding their geographic presence, and acquiring other companies to enhance their market position.
