Market Size of Drainage Catheters Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Drainage Catheters Market Analysis
The drainage catheters market is projected to register a CAGR of 4.8% during the forecast period (2021-2026).
Drainage procedures are considered essential and non-elective due to the severity of postponing them on patient health. Indeed, many radiologists and medical societies that have recommended strategies for triaging and managing surgeries during the COVID-19 pandemic have outlined drainage procedures as the most critical to perform. Historic sales on drainage catheters also reflect the relatively low impact COVID-19 has had on its sales volumes. Even during the worst-hit months of April and May 2020, where many medical devices experienced maximum decline in sales, drainage catheters had seen a minimum decline, and sales of these devices had returned to pre-pandemic levels by the end of Q2 2020. Thus, the annual impact of COVID-19 has had on this device category is minimal. As a result, sales of this device category are already showing signs of steady growth in 2021 to recoup the minor loss in potential revenue it incurred in 2020.
One of the significant drivers for the drainage catheters market is the high procedure numbers and the growing number of cases for patients to have post-surgical complications managed percutaneously and routine effusion drainages performed. According to National Center for Biotechnology Information (2019), neurovascular stroke is the second most common cause of death, the third most common cause of disability worldwide, and approximately 60%-80% of all strokes are ischemic. This arises when a weakened blood vessel bursts and bleeds into the surrounding brain or due to blocked blood vessels, limiting the blood supply to the brain. Since the past few years, the incidence rate of strokes majorly in low- and middle-income countries has increased more than double. For example, India has a very high incidence rate of ischemic stroke and is one of the principal causes of death. According to All India Institute of Medical Sciences (AIIMS), almost 1.8 million Indians suffer from cerebrovascular stroke every year. Moreover, around 1.1 million people in Europe suffer from ischemic stroke every year.
The growing number of cardiovascular surgeries and the increase in the prevalence of cardiovascular diseases may drive the growth of the market. The National Center for Biotechnology Information, United States stated that in 2014, around 10,581 cardiovascular surgeries were performed and is expected to increase consistently to 15,501 cases in 2040.
The overall market for drainage catheters is growing under the influence of rising awareness and increasing incidences of pneumothorax, pleural effusion, and hemothorax. According to MedlinePlus, an online information service produced by the United States National Library of Medicine, primary spontaneous pneumothorax occurs in 7.4 to 18 per 100,000 men and 1.2 to 6 per 100,000 women each year. Hence, these factors are expected to drive the market growth.
