Chest Drainage Segment Is Expected To Remain Top Application Category With A CAGR Of 10.4% During 2022 To 2032.
Drainage bottles market is getting significant traction from hospitals and clinics are gaining utmost traction because of the availability of specialized staff and individualized treatment approaches. With no financial crunches and positive results in hand, this segment is expected to grow at a CAGR of 9.6% during the forecasted period, comments a Fact.MR analyst.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to a report published by Fact.MR, the drainage bottles market was valued at US$ 473.3 Mn in 2021 and is expected to increase at an annual rate of 8.5% over the next ten years. By the end of 2032, the market is estimated to be worth US$ 1.2 billion, with an absolute dollar opportunity of roughly US$ 640 million in the next ten years.
The rising number of accidents and the rising incidence of ailments such as uremia and cardiovascular diseases are likely to boost the global market for drainage bottles. The market is expected to grow as the use of Drainage Bottles grows in incidents such as thoracic surgery, uremia treatment, wound treatment, and others. Chronic diseases like diabetes, cancer, and Deep Vein Thrombosis (DVT) are on the rise, raising the likelihood of chronic wounds, which is likely to fuel demand for drainage bottles.
The chest drainage segment is forecasted to be the top segment as per the application categorization while growth was forecasted at a CAGR of 10.4%. This rise in demand has been associated with an increase in the number of patients requiring thoracic surgeries and a rising incidence of cardiovascular problems. As per the WHO records, in 2019 alone, approximately 17.9 Mn individuals died from cardiovascular diseases.
The revenue of all the countries including U.S., U.K., China, Japan and South Korea is expected to grow at a CAGR of 8.3%, 6.7%, 10.8%, 10.4% and 10.7% respectively during 2022 to 2032 with an absolute dollar opportunity of $640 Mn during that period.
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Key Takeaways from the Market Study
Global drainage bottles market is expected to reach a market size of US$ 511.6 Mn by 2022.
Global drainage bottles market is expected to grow at a CAGR of 8.5% for the next 10 years.
The absolute dollar opportunity for the next 10 years is forecasted to be US$ 640 Mn
The market in China is expected to grow fastest at a CAGR of 10.8% during the forecasted period.
Competitive Landscape
Several regional and worldwide manufacturers lead the drainage bottle industry. They compete on product innovation, quality, brand reputation, and market presence to offer their services across several industries. Drainage bottles' rising adoption and deployment has generated a competitive climate among industry participants.
The market players in the global drainage market are investing in the R&D domain to bring in the technological advancements in the existing market and tap on the untapped demand. These companies are using several ways to strategically multiply in the next few years. Through smart mergers and acquisitions, market participants routinely diversify their portfolios, expanding their distribution networks, developing new goods, and growing their businesses.
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The major developments in the market are:
In Dec 2021, PAHSCO received the 18th Golden Root Award held by Taiwan Industrial Technology Promotion Association. This award was given to an excellent corporate representatives with “localization and internationalization” to remark their excellent contributions to Taiwan’s economy.
In June 2021, PAHSCO had donated 10,000 closed suction systems to frontline healthcare workers as a gesture to help the government fight the pandemic while also satisfying its CSR duty.
In April 2021, PFM medical debuted its new subsidiary, PFM medical expert, which gives guidance and support on all aspects of quality management, clinical project management and MDR compliance.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Drainage Bottles market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of application (Chest drainage, Accel Evacuated, Peritoneal drainage, Urostomy/Urinary, Wound drainage and Others), End-use (Hospitals and clinics, Homecare, Nursing facilities and Other End uses) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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