An increasing number of surgical procedures has led to steady growth in the global surgical drainage devices market, according to a 2017 report. Here are nine insights.
1. The global surgical drainage devices market was valued at $1.9 billion in 2016.
2. From 2017 to 2025, the market is expected to have a compound annual growth rate of 2.9 percent.
3. A growing geriatric population, along with a rise in cases of cancer, chronic diseases and surgical procedures, drives this market.
4. Active drainage systems are expected to continue dominating the market. With greater efficiency, less trauma and lowered risk of infection than passive drainage devices, these types of surgical drainage devices currently capture more than 80 percent of the market.
5. Of all categories in the market, the orthopedic surgery segment sees the highest demand for surgical drainage devices. Other categories include general surgery, neurosurgery and obstetrics and gynecology.
6. Hospitals dominate revenue share in the global surgical drainage devices market due to higher volumes of admissions and surgical procedures performed.
7. Ambulatory surgery centers and specialty clinics are expected to have the highest demand for surgical drainage devices over the reporting period, from 2017 to 2025.
8. North America captured the most market share in 2016 at about 40 percent. One factor contributing to this dominance is the rapid adoption of new surgical devices.
9. While regional markets are mainly characterized by local players, the major players in the global market include Cardinal Health, Stryker Corp. and Teleflex.