Wilmington, Delaware, United States, July 31, 2023 (GLOBE NEWSWIRE) -- The global digital thoracic drainage system market was valued at USD 89.1 Mn in 2022 and is projected to expand at a CAGR of 8.2% from 2023 to 2031.
Rise in number of thoracic surgeries and improved patient outcome are fueling the digital thoracic drainage system market. Digital thoracic drainage system is replete with features such as portable size, noiseless function, autonomous battery operation, digital indications, and alarms.
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Digital thoracic drainage system is a novel medical device that features next-gen technologies, including wireless connectivity & remote monitoring and mobile applications. Manufacturers are investing significantly in R&D activities to develop advanced products to manage a host of respiratory conditions. These factors are expected to fuel market progress in the next few years.
Competitive Analysis
The global landscape is consolidated, with the presence of a few large players that control majority of the market share. Companies are focusing on new product launches, partnerships, and collaborations to stay competitive.
Leading players in the digital thoracic drainage system market include Medela AG, Getinge AB, Redax, and ATMOS MedizinTechnik GmbH & Co. KG.
Growth Drivers
- Increase in number of thoracic surgeries is fueling the digital thoracic drainage system market
- Rapid integration of advanced technology in digital thoracic drainage systems is augmenting market growth
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Key Findings of Study
COVID-19 Impact on Digital Thoracic Drainage System Market Growth – The COVID-19 pandemic positively impacted the digital thoracic drainage system market. Elective surgeries and non-emergency procedures that involved digital thoracic drainage systems were postponed or canceled initially, resulting in diminished demand for these products. However, demand for these devices remained high among COVID-19 patients with respiratory complications such as pleural effusion or pneumothorax.
The pandemic also led to a surge in adoption of digital healthcare technologies, including digital thoracic drainage systems. The adoption of these technologies helped minimize contact with patients, and thus reduced the risk of infection. Remote monitoring capabilities of digital thoracic drainage systems enabled health caregivers to monitor patients from a distance, thus reducing the need to come in contact with patients.
Rise in Adoption of Drainage Systems Boosting Market Statistics – Based on product type, the drainage systems segment is anticipated to account for the leading market share during the forecast period. The segment held dominant share of the global market in 2022.
Drainage systems provide real-time insights about the drainage process, which is useful for health caregivers to adjust drainage as needed. These systems can also raise an alarm or an alert to notify medical staff about any issues or changes with the drainage process.
Drainage system are of various types, including digital systems that are equipped with advanced technology such as sensors and algorithms. Therefore, rise in demand for drainage systems is translating into lucrative digital thoracic drainage system market opportunities.
Critical Usage in Thoracic Surgeries Boosting Market Size – In terms of application, the thoracic surgeries segment is anticipated to account for key share of the global market in the next few years. Growth of the segment can be ascribed to increase in the number of thoracic surgeries globally.
Digital thoracic drainage devices are widely used in minimally invasive thoracic surgeries for the treatment of pleural effusion, pneumothorax, and empyema disorders. According to data published by the National Center for Biotechnology Information, nearly 530,000 general thoracic surgeries are carried out every year in the U.S.
Increase in Adoption by Hospitals & Specialty Clinics Fueling Market Development – Based on end-user, hospitals & specialty clinics segment held key share of the global market in 2022. The segment is anticipated to account for the leading market share during the forecast period.
Hospitals and specialty clinics serve a higher volume of patients as compared to other healthcare facilities, leading to a surge in demand for advanced medical products. They also provide treatment for diverse medical conditions, including respiratory conditions. This requires thoracic drainage systems for treatment.
Regional Landscape
North America held key share of the global market in 2022. The region is anticipated to account for major market share during the forecast period.
Integration of advanced technologies in digital thoracic drainage system and increase in adoption of digital products are some of the key factors driving the market in North America.
The market in Asia Pacific is anticipated to grow in the next few years due to high prevalence of chronic respiratory diseases and rise in healthcare spending in the region.
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The global digital thoracic drainage system market has been segmented as follows:
Global Thoracic Drainage System Market, by Product Type
- Drainage Systems
- Accessories & Disposables
- Thoracic Chest Drainage Kits
- Tubing
- Suction Control Devices
- Others
Global Thoracic Drainage System Market, by Application
- Thoracic Surgeries
- Cardiac Surgeries
- General Intensive Care
- Infectious Diseases
- Others
Global Thoracic Drainage System Market, by End-user
- Hospitals & Specialty Clinics
- Urgent Care or Outpatient Care
- Ambulatory Surgical Centers
- Military Medical Facilities
Global Thoracic Drainage System Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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