Thoracic Drainage Devices Market

Market Overview

The global thoracic drainage devices market size was valued at USD 771.9 million in 2022 and is projected to reach USD 1,282.1 million by 2031, registering a CAGR of 5.8% during the forecast period (2023-2031). The growth of the thoracic drainage devices market is primarily fueled by the rapidly developing areas of thoracic surgery, pulmonology, and cardiac surgery.

Thoracic drainage devices are medical devices that extract air, fluids, or pus from the pleural area that surrounds the lungs. They are frequently used to treat pneumothorax, pleural effusion, and hemothorax. These devices are critical in the management of respiratory and thoracic disorders, as well as in patient care.

The thoracic drainage devices market share is estimated to develop significantly during the forecasted period due to rapid technological improvements in the medical equipment industry, even though the market may exhibit a downward growth curve due to a lack of healthcare facilities as well as a scarcity of experienced and educated medical practitioners, particularly in undeveloped and developing economies. However, the market has much space to grow in the anticipated term since minimally invasive procedures would have lower healthcare expenses.

Highlights

• Thoracic Drainage Kits and Systems occupy the maximum market share by product.
• Thoracic Surgery and pulmonology are significant contributors to the market by application.
• Hospitals and specialty Clinics generate the most revenue by end-user.
• North America dominates the global market.

Market Dynamics

Thoracic Drainage Devices Market Drivers

Prevalence of Respiratory Disorders

The rising prevalence of respiratory illnesses such as pneumothorax, pleural effusion, and chronic obstructive pulmonary disease (COPD) fuels demand for thoracic drainage devices. As respiratory problems become increasingly common, there is a greater demand for efficient treatment and management options. Respiratory diseases are the primary cause of death and disability in the United States. COPD killed 3.22 million people in 2019, with the number of fatalities increasing by 17.5% between 2007 and 2017. COPD affects almost 16 million adults in the United States, and many more are unaware they have it. COPD is the sixth most significant cause of death in the United States, according to the CDC. Pleural effusion and pneumothorax are typical respiratory problems that frequently necessitate thoracic drainage. These disorders occur in many people, but their prevalence varies. Pleural effusion, for example, has been linked to several medical disorders, including heart failure, pneumonia, and cancer.

Similarly, the prevalence of lung cancer has been increasing, necessitating surgical treatments involving the use of thoracic drainage devices. For example, the American Cancer Society estimates that lung cancer will be the top cause of cancer deaths in 2022, with 131,880 deaths. However, the national survival rate has increased by 21% to 25% over the last five years. Postoperative drainage may be required for patients following lung resections or other thoracic procedures to manage fluid collection and prevent complications. Furthermore, due to variables such as air pollution, smoking, and aging populations, the prevalence of respiratory illnesses is predicted to rise further. As a result, the market trend for thoracic drainage devices is projected to change over the forecast period.

Thoracic Drainage Devices Market Restraints

Stringent Regulatory Requirement

The introduction of any medical equipment to the market requires regulatory approval. Thoracic drainage devices are no exception, and achieving regulatory requirements might be challenging. The FDA in the United States and the European Medicines Agency (EMA) in the European Union have stringent criteria for medical devices. Before gaining approval, the FDA, for example, may need substantial clinical trials and data confirming the safety and efficacy of a thoracic drainage device. Pre-market notice (510(k)), pre-market approval (PMA), and De Novo routes are all part of the FDA's medical device approval procedure. These approaches necessitate substantial documentation, clinical data, and rigorous testing to show the device's safety and effectiveness. The time and resources required to seek FDA approval can significantly impact how quickly a thoracic drainage device reaches the market.

Additionally, a 2018 study published in the "Journal of Medical Regulation" emphasized the difficulties medical device makers experience in achieving regulatory criteria. The study stressed the importance of solid data to support the safety and efficacy of medical devices, especially thoracic drainage devices, to meet regulatory standards. Furthermore, achieving worldwide regulatory standard harmonization is complex, and variances in requirements between areas can present challenges for producers. Companies must navigate several regulatory landscapes, each with its own set of norms and expectations, which can make delivering a thoracic drainage device to a worldwide market more difficult.

Thoracic Drainage Devices Market Opportunity

Technological Advancement

Continuous technical breakthroughs give prospects for the improvement of thoracic drainage devices. Companies that spend R and D to create more efficient, user-friendly, and least intrusive equipment can acquire a competitive advantage. Integration of digital health technologies, for example, for real-time drainage monitoring, could be a potential. Government plans to promote digitization throughout the healthcare industry worldwide are boosting the market even further. For example, during the 2022 budget session, the Government of India announced the Ayushman Bharat Digital Health Mission (ABDM) to create a digital health ecosystem. Similarly, the French government announced in October 2021 that it will invest over USD 650 million to build its national digital health infrastructure. 

Companies that invest in and successfully apply digital health elements in thoracic drainage devices may stand out in the market. These advancements may result in better patient outcomes, fewer problems, and more efficient healthcare delivery. Even though technology improvements provide opportunities, businesses must be conscious of data security, regulatory compliance, and the need for healthcare personnel to adapt to new technologies. It is critical to address these issues if modern technologies are to be successfully integrated into thoracic drainage devices. Furthermore, the evolution of digital health technologies such as the Internet of Things (IoT) and artificial intelligence (AI) points to a bright future for thoracic drainage devices. Real-time data collection, analysis, and action can lead to more precise and tailored medical care.

Regional Analysis

The global thoracic drainage devices market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America Dominates the Global Market

North America is the most significant global thoracic drainage devices market shareholder and is estimated to grow at a CAGR of 5.6% over the forecast period. The global thoracic drainage devices market is expected to be dominated by North America due to increased R&D expenditure, high adoption of novel, improved devices, early availability of advanced technologies, significant healthcare spending, and the presence of sophisticated healthcare infrastructure and key market participants in the United States and Canada. Becton, Dickinson and Company, Teleflex Incorporated, Smiths Medical, Cook Medical, and Cardinal Health, Inc. all have a substantial presence in the United States, contributing to North American market growth.

In addition, heart disease is one of the significant causes of death in the United States, according to the Centers for Disease Control and Prevention's (CDC) article titled 'Heart Disease Facts,' updated in February 2022. According to the same source, over 659,000 Americans experience a heart attack each year. With the rising frequency of heart illness worldwide, the demand for heart surgery, which necessitates thoracic drainage devices, is pushing the studied industry. The region has seen a significant increase in chronic diseases in recent years. According to data released in June 2022 by the National Center for Chronic Condition Prevention and Health Promotion, 6 in 10 Americans had at least one chronic condition, such as heart disease and stroke, cancer, or diabetes. These and other chronic diseases are the significant causes of death and disability in the United States, as well as the leading cause of healthcare costs. This has increased the demand for thoracic drain devices, which has boosted growth prospects. 

Asia-Pacific is anticipated to exhibit a CAGR of 5.9% over the forecast period. According to thoracic drainage devices market insights, Asia-Pacific is expected to acquire market share over the projected period due to an increase in the geriatric population, a larger cardiovascular disease patient population, a developing healthcare infrastructure, and an increase in medical tourism. Furthermore, the increased interest of vital international companies in expanding their production bases and product portfolio across Asian and Southeast Asian countries such as South Korea, Malaysia, India, and China due to high population density is expected to propel the market in the region during the forecast period.

Europe holds a modest part of the market. Europe is well-known for its dedication to the adoption of cutting-edge medical innovations. Thoracic drainage device innovation, such as digital health features, minimally invasive procedures, and improved materials, can boost market expansion. Furthermore, the European regulatory framework, overseen by institutions such as the European Medicines Agency (EMA), impacts the approval, sale, and use of thoracic drainage devices. Hence, Market entry requires adherence to high regulatory norms.

Segmental Analysis

The global thoracic drainage devices market is segmented based on product, application, end-user, and region.

The product is further segmented into Pleural drainage catheters, secured and unsecured needles, thoracic drainage kits and systems, and trocar drains.

Thoracic Drainage Kits and Systems occupy the maximum share of the market.

Thoracic Drainage Kits and Systems

Thoracic drainage kits and systems are all-inclusive packages containing all the components required for thoracic drainage treatments. Catheters, drainage bottles or bags, connecting tubes, and other attachments are frequently included in these kits. The thoracic drainage kits and systems segment is expected to gain market share during the forecast period due to increased consumption of chest drainage kits and repetitive use of venous drainage devices of the chest wall or thoracic/chest drainage kits; rising demand for minimally invasive surgeries; and an increase in the burden of spontaneous pneumothorax.

Pleural Drainage Catheters

A pleural drainage catheter, thoracic drainage catheter, chest tube, or thoracic drainage tube is a sterile tube put into the pleural space and contains several drainage holes. These catheters help remove excess material from the pleural space, alleviating pneumothorax and pleural effusion disorders. Demand for thoracic drainage catheters or chest drainage catheters is increasing in European countries such as the United States, Germany, and France due to expanded cardiac and thoracic surgical operations. In a military situation, approximately 13% to 15% of penetrating wounds are related to the thoracic cavity, accounting for about 30% of combat deaths requiring thoracic intervention, including a thoracic drainage catheter.

The market can be bifurcated by application into Cardiac Surgery, General Intensive Care and Emergency Medicine, Infectious Diseases, Military/Damage Control/Disaster Medicine, Oncology and Pain Management, and Thoracic Surgery and pulmonology.

Thoracic Surgery and pulmonology are significant contributors to the market.

Thoracic Surgery and Pulmonology

Thoracic drainage devices are widely utilized in thoracic surgery and pulmonary medicine for various treatments such as lung resections, lobectomies, and other pulmonary interventions. These devices aid in postoperative healing and care. As thoracic drainage devices are widely used in minimally invasive thoracic surgical procedures for the treatment of pneumothorax, pleural effusions, and empyema disorders, the thoracic surgery and pulmonology segment accounted for a significant share of the global thoracic drainage devices market in 2022.

Cardiac Surgery

Thoracic drainage devices are utilized in cardiac surgery to treat pleural effusions and other fluid collections that may arise due to cardiac procedures. During and after surgery, these devices help to maintain ideal circumstances surrounding the heart and lungs. Thoracic drainage devices enable the management of potential fluid accumulation in the pleural cavity following cardiac procedures such as coronary artery bypass grafting (CABG) or valve replacement.

Based on end-user, the market is fragmented into Ambulance services, ambulatory surgery centers, hospitals and specialty clinics, anesthesiologists, cardiologists, infectiologists, pulmonologists, other medical specialists, military surgeons, urgent care, or outpatient care.

Hospitals and specialty Clinics generate the most revenue.

Hospitals and Specialty Clinics

Thoracic drainage devices are widely used in hospitals across several disciplines, including surgery, emergency medicine, and critical care. These devices are essential for treating respiratory disorders, trauma, and surgical recovery. Thoracic drainage devices may be used in specialty clinics such as pulmonary or infectious disease clinics for targeted therapies linked to certain medical diseases. In 2022, hospitals and specialty clinics held the most significant share of the global thoracic drainage devices market. This is due to an increase in the number of hospitals and specialized clinics worldwide, as well as substantially better performance of cardiothoracic procedures and the use of thoracic drainage devices in these settings. According to the American Hospital Association (AHA), the United States had approximately 5,564 hospitals in 2017, which has since expanded to 6,093.

Ambulatory Surgery Centers

Ambulatory surgery centers perform same-day surgical operations, and thoracic drainage devices are used for postoperative treatment. These facilities provide outpatient services, and adequate drainage solutions are critical for patient rehabilitation. The ambulatory surgery centers segment is predicted to have the greatest CAGR over the projection period for end-users. ASCs can increase quality and customer service while also lowering expenses. The ASC industry is ahead of the curve in identifying promising options for improving healthcare delivery.

Recent Developments

• December 2023- Medtronic made history by receiving FDA approval for their revolutionary PulseSelectTM Pulsed Field Ablation System for treating atrial fibrillation.
• November 2023- BD introduced an advanced Vascular Access Ultrasound System to increase clinician efficiency.