Emphasis on Product Type (J-tip, Standard Loop, and Tight Loop); Application (Chest Drainage Catheters, External Ventricular Drainage Catheters, Cerebrospinal Fluid Drainage Catheters, and Others); End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and Others); Region (North America, Europe, Asia-Pacific, Rest of the World); and Region/Country
The global drainage catheters market is expected to grow at a significant rate of around 5% during the forecast period. A drainage catheter is a hollow flexible tube for insertion into a body cavity, duct, or vessel to allow the passage of fluids or distend a passageway. The increasing burden of pulmonary diseases such as pulmonary edema and COPD where collected fluid can cause difficulty in breathing, as well as increased reimbursement options, are the important catalytic factors responsible for the market growth of drainage catheters. For instance, as per the WHO, Chronic obstructive pulmonary disease (COPD) is the third leading cause of death worldwide, causing 3.23 million deaths in 2019.
ICU Medical, Inc; SORIN CORPORATION; Argon Medical Devices, Inc.; MedizinTechnik GmbH & Co. KG; Teleflex Incorporated; Medtronic; Redax S.p.a.; Medela AG.; PAHSCO; and Cook are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, tight loop category to witness higher CAGR during the forecast period”
Based on the product type, the market has been categorized into J-tip, standard loop, and tight loop. Among them, the tight-loop segment is expected to grow at a higher CAGR in the market. The higher flexibility of the loops gives them better reach to the internal tissue, as well as these loops are resistant to compression and blockage attributed to the growth of the segment at a fast rate.
“Amongst application, the chest drainage catheters to hold a significant share in the market in 2020”
On the basis of application, the market is categorized into chest drainage catheters, external ventricular drainage catheters, cerebrospinal fluid drainage catheters, and others. Among these, chest drainage catheters to hold a significant share in the market in 2020. The rising prevalence of pulmonary disorders, along with the changing lifestyle preferences such as smoking and increasing alcoholic consumption attributes to the growth of the segment. For instance, as per the American Cancer Society, the estimated number of lung cancer in the United States for 2022 is about 236,740 new cases of lung cancer.
“Amongst end-user, ambulatory surgical centers segment to hold a higher CAGR during the forecast period”
Based on the end-user, the market has been categorized into hospitals, specialty clinics, ambulatory surgical centers, and others. Among them, the ambulatory surgical center’s segment holds a higher CAGR during the forecast period. The ambulatory surgical centers provide the point of care treatment, can offer low-cost treatment, and reduces waiting time in emergency cases. These factors are responsible for the segmental growth of ambulatory surgical centers.
“Asia-Pacific to witness the fastest growth in the market”
Asia-Pacific is anticipated to grow at the fastest rate during the forecast period. The major factors such as the development of better healthcare and research infrastructure, along with the increasing incidences of neurological disorders in the region attributes to the fast growth of the region in the drainage catheters market. For instance, in 2019, stroke caused 699,000 deaths in India, which was 7.4% of the total deaths in the country.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Drainage Catheters Market
6. Drainage Catheters Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Product Type
8. Market Insights By Application
9. Market Insights By End-user
10. Market Insights By Region
11. Drainage Catheters Market Dynamics
12. Drainage Catheters Market Opportunities
13. Drainage Catheters Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for the Drainage Catheters Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global drainage catheters market were the three major steps undertaken to create and analyze the adoption of drainage catheters in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global drainage catheters market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the drainage catheters market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the drainage catheters market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, application, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the drainage catheters market. Further, we conducted factor analysis using dependent and independent variables such as the product type, application, and end-users of drainage catheters. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the drainage catheters market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global drainage catheters market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global drainage catheters market. Data was split into several segments & sub-segments post studying various parameters and trends in the product type, application, and end-users in the global drainage catheters market.
The main objective of the Global Drainage Catheters Market Study
The current & future market trends of the global drainage catheters market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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