The rise in demand for minimally invasive procedures over open surgery is triggering a high market growth rate. Also, these procedures usually provide equivalent outcomes to traditional open surgery, along with offering significant benefits, like lower risk of complications, shorter length of stay, and lesser recuperation period. Furthermore, reducing healthcare costs involved in undergoing a minimally invasive procedure when compared to the normal surgical procedure has also been an instrumental factor driving the market growth. Hence, there is increasing care provider's preference for minimally invasive procedures for a range of surgical applications which is expected to boost the demand for thoracic drainage devices worldwide.

Key Market Trends

Thoracic Surgery & Pulmonology Segment is Expected to Register a Significant Growth in the Forecast Years

By Application, the market has been segmented into Cardiac Surgery, Oncology & Pain Management, Thoracic Surgery & Pulmonology, General Intensive Care Emergency Medicine and Others. Thoracic and pulmonological disorders are quite common and the prevalence of these disorders is increasing as compared to other applications and this trend is expected to continue over the forecast period. As per the U.S. Census and the Society of Thoracic Surgery, in 2010 there were approximately 4,000 cardiothoracic surgeons who performed more than 530,000 cases. By 2030, it is expected that there will be about 3,000 cardiothoracic surgeons available to cover about 854,000 cases.

The average case-load per surgeon will increase from 135 in 2010 to 299 in 2035 because of the high population growth. Thoracic drainage devices are used in the treatment of pneumothorax, pleural effusions, and empyema disorders. In addition, growing public awareness and a large patient pool also contributes to the growth of the studied market.

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North America leads the Thoracic Drainage Devices Market

North America is expected to lead the market, owing to high standards of healthcare infrastructure and easy availability of sophisticated technology in this region. This is primarily attributed to rising incidences of chronic diseases as well as higher healthcare expenditure in countries in the region. According to the American College of Cardiology, cardiovascular disease (CVD) accounted for 800,000 deaths in the United States in 2017 alone. Among Americans, an average of one person dies from cardiovascular disease, every 40 seconds. Europe and the Asia Pacific are followed next after North America owing to rising patient population, growth of healthcare industry and increase in the number of surgeries in the region, thus driving this market.

Competitive Landscape

The major players in the thoracic drainage devices market includes ATMOS MedizinTechnik GmbH & Co. KG, Becton, Dickinson and Company, Cardinal Health, Cook Group Incorporated, Getinge AB, Sinapi Biomedical, Smiths Group plc, Teleflex Incorporated, Utah Medical Products, Inc. and Vygon SA.

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