Thoracic Catherters Market to Garner Brimming Revenues till 2031

Thoracic Drainage Devices Market Outlook 2031

The global thoracic drainage devices market was valued at US$ 729.6 Mn in 2021
The global market is projected to grow at a CAGR of 5.3% from 2022 to 2031
The global thoracic drainage devices market is anticipated to reach more than US$ 1.23 Bn by 2031

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Thoracic Drainage Devices Market Introduction

Thoracic or chest drainage helps maintain proper respiratory function and hemodynamic stability by removing air, fluid, or blood from around the heart or lungs. Thoracic drainage systems are primarily utilized in intensive care units (ICUs), emergency departments, and operating rooms. Increase in the acceptance of digital thoracic drainage systems (DTDS), rise in prevalence of CVDs globally, and surge in burden of spontaneous pneumothorax are major factors driving the global thoracic drainage devices market. DTDS is a safe, comfortable, and well-tolerated by patients. Moreover, DTDS helps reduce or eliminate the cost of hospital stay. Novel inventions in thoracic drainage systems are expected to propel the market in the next few years. For instance, in January 2020, Centese, Inc., a developer of advanced drainage systems, announced the completion of the 1st clinical study of its 'Thoraguard digital drainage system' used in cardiovascular surgery, at Stanford University Medical Center. Thoraguard is the 1st surgical drainage device to provide automated clog clearance without requiring human intervention, and digitally measures and displays hourly drainage volume and trends to facilitate clinical decision-making after cardiac surgery. Some of the commercially available products in the digital chest drainage devices market are Thopaz (Medela AG), Drentech (REDAX), and Digivent (Millicore AB).

Spontaneous pneumothorax is a one of the major health issues across the globe. Spontaneous pneumothorax is caused due to air in the chest cavity, which can resolve itself; however, most often requires hospital admission and urgent medical care. In a military warfare setting, around 13% to 15% of penetrating wounds related to the thoracic cavity require thoracic intervention including a thoracic catheter. According to an article published in the Canadian Respiratory Journal, in March 2017, primary spontaneous pneumothorax is more common in men than women. This condition occurs in 7.4 to 18 per 100,000 men each year and 1.2 to 6 per 100,000 women. Additionally, incidence of spontaneous pneumothorax is increasing gradually. Various research studies estimate that more than 2 million spontaneous pneumothorax occur globally every year.

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COVID-19 Impact on Global Thoracic Drainage Devices Market

Globally, as of August 2022, there have been over 585.0 million confirmed cases of COVID-19, including around 6.4 million deaths, reported to World Health Organization (WHO). However, researches revealed that thoracic drainage systems can significantly help reduce massive spread of COVID-19. Patients suffering from COVID-19 are at high risk of developing acute respiratory distress syndrome (ARDS) needing invasive mechanical ventilation. Furthermore, Barotrauma in COVID-19 patients often leads to pneumothorax, which requires chest tube placement (thoracostomy). Additionally, German Health Alliance (GHA) members, including B. Braun, ATMOS MedizinTechnik GmbH & Co. KG, Getinge, and Dräger, have witnessed a notable increase in the demand for their products, such as thoracic drainage system, from across the world since the beginning of 2020. For instance, ATMOS MedizinTechnik GmbH & Co. KG, an innovative medical device company, announced that production is running at full speed, as product groups such as drainage systems can save lives in the COVID-19 chaos.

In December 2020, Medela LLC, a prominent supplier of breastfeeding accessories and medical vacuum technology, had announced that the filtration system of its 'Thopaz+ Digital Chest Drainage and Monitoring System' efficiently blocks passage of aerosolized viral particles, such as SARS-CoV-2. Therefore, respiratory diseases including COVID-19 are expected to open new opportunities in the global thoracic drainage devices market during the forecast period.

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Increasing Demand for Thoracic Drainage Systems among End-users Bolstering Thoracic Drainage Systems Segment

In terms of product, the thoracic drainage systems segment held the largest global thoracic drainage devices market share in 2021. The trend is expected to continue during the forecast period owing to increase in demand for thoracic drainage systems in hospitals, urgent care centers, and ambulatory surgery centers. Furthermore, adoption of tube thoracostomy procedures and mobility of thoracic drainage products has increased. It is possible to withdraw drainage sooner in case of digital thoracic drainage system and thereby, discharge patients earlier.

The thoracic drainage kits segment is likely to gain market share during the forecast period owing to higher consumption of chest drainage kit and repetitive use of venous drainage device of the chest wall, or thoracic/chest drainage kit; rising demand for minimally invasive surgeries, high burden of cardiovascular diseases, and increase in burden of spontaneous pneumothorax.

Pleural drainage catheter, also known as thoracic drainage catheter or chest tube or thoracic drainage tube, is a sterile tube that includes a number of drainage holes and is inserted into the pleural space. Demand for thoracic drainage catheter or the chest drainage catheter market in countries in Europe such as the U.S., Germany, and France is increasing due to rise in cardiac and thoracic surgical procedures. In a military warfare setting, around 13% to 15% of penetrating wounds are related to the thoracic cavity, which accounts for around 30% of combat deaths requiring thoracic intervention, including a thoracic drainage catheter.

Thoracic drainage catheter is primarily used for closed chest tube thoracostomies. Cardinal Health, Inc. provides ARGYLE Trocar Catheters (a thoracic trocar catheter) are sterile, single use, disposable devices that consist of a surgically sharp trocar and a clear polyvinyl chloride (PVC) thoracic catheter.

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Extensive Usage of Thoracic Drainage Devices in Thoracic Surgery & Pulmonology Propelling Thoracic Surgery & Pulmonology Segment

Based on application, the thoracic surgery & pulmonology segment accounted for significant share of the global thoracic drainage devices market in 2021, as thoracic drainage devices are widely used in minimally invasive thoracic surgical procedures for the treatment of pneumothorax, pleural effusions, and empyema disorders. An article in the Journal of Thoracic Disease stated that thoracic surgery is one of the most rapidly developing specialties in all of surgery - both technically and technologically. Currently, around 530,000 general thoracic surgeries are performed yearly in the U.S. by around 4,000 cardiothoracic surgeons.

Improved Quality & Customer Service and Lower Cost Fueling Ambulatory Surgery Centers Segment

In terms of end-user, the ambulatory surgery centers segment is expected to register the highest CAGR of 6.7% during the forecast period. ASCs have the ability to improve quality and customer service while simultaneously reducing costs. The ASC vertical is ahead of the curve in identifying favorable avenues for improving healthcare delivery.

The hospitals & specialty clinics segment held the largest share of the global thoracic drainage devices market in 2021. This is ascribed to a surge in the number of hospitals & specialty clinics globally, comparatively higher performance of cardiothoracic surgeries and adoption of thoracic drainage devices in these settings. According to the American Hospital Association (AHA), the U.S. had about 5,564 hospitals in 2017, which increased to 6,093 currently.

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Analysis of Key Players in Global Thoracic Drainage Devices Market

The market report concludes with the company profiles section that includes key information about the major players in the global thoracic drainage devices market. Market participants focus on strategies such as new product launches, mergers & acquisitions (M&As), and public and private partnerships to strengthen their market position. Medtronic plc, Becton, Dickinson and Company (BD), Getinge AB, Teleflex Incorporated, Sterimed Group, ICU medical (Smiths Medical), Cook Medical, Cardinal Health, Inc., Vygon SA, Utah Medical Products, Inc., ATMOS MedizinTechnik GmbH & Co. KG, and Sinapi Biomedical are the prominent players operating in the global market.

Key Developments in Global Thoracic Drainage Devices Market

In January 2022, ICU Medical acquired Smiths Medical from the Smiths Group. The addition of medical infusion devices & syringes and vascular access & vital care products of Smiths Medical to the portfolio of ICU Medical made it one of the leading infusion therapy companies with a global reach.

In March 2021, FourKites and Cardinal Health, Inc. announced a global collaboration to improve tracking of medical equipment, pharmaceutical items, first aid supplies, and personal protective equipment (PPE) in transit to hospitals, pharmacies, and other care facilities across the world. Superior tracking and analytics capabilities of FourKites are expected to assist Cardinal Health in optimizing supply chain operations and enabling a fast, reliable, and frictionless experience for 29,000 pharmacies and nearly 90% of American hospitals that rely on Cardinal Health for critical supplies.

In November 2019, Getinge AB established its own legal entity in Vietnam in order to build infrastructure to serve more customers and to deliver better clinical and technical service for the long-term. With this expansion, Getinge AB is looking for new employees to support the business, particularly within the clinical and technical service areas. The company has been present in Vietnam through distributors for over 40 years.

Each of these players has been profiled in the thoracic drainage devices market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.

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