Published: May 2021 | Report Code: LS12184 | Available Format: PDF | Pages: 194
The global drainage consumables market generated revenue of $1,604.0 million in 2019, and it is projected to showcase a CAGR of 2.8% during the forecast period (2020–2024). The key factors responsible for the growth of the market include the increasing prevalence of chronic diseases, technological advancements, expanding healthcare infrastructure, rising number of surgeries, and increasing government initiatives for public healthcare.
The drainage bags category held the largest share in the drainage consumables market in 2019, based on product type. Furthermore, the category is expected to retain its position in the coming years due to the rising requirement for replacing the used drainage bags at a frequent rate, in order to prevent urinary tract infections (UTIs) among patients.
Wound is expected to be the fastest-growing category in the drainage consumables industry during the forecast period, based on application. This will be due to the rising number of road accidents and skin burn cases worldwide, which has resulted in a huge patient influx at healthcare centers with wounds.
Geographically, North America was the largest contributor to the drainage consumables industry in 2019. This region is also expected to be in the dominating position in the coming years. This can be mainly attributed to the high-volume demand for drainage consumables arising from the U.S. healthcare sector.
Product launches are one of the key trends being observed in the drainage consumables market. The U.S. is home to large-scale manufacturers of drainage consumables, who are making hefty investments in the development of new products in order to expand their customer base and better their position in the market. For instance, in December 2019, Merit Medical Systems Inc. announced the launch of the ReSolve Mini locking drainage catheter for the percutaneous drainage of fluids from body cavities. With this launch, the company aimed to improve the standards of patient care and safety.
Drainage consumables, such as drainage bags and catheters, are vital products required for patients undergoing treatment for chronic diseases, such as kidney diseases and diseases of the urinary system. With the rising prevalence of such chronic conditions, the usage of drainage consumables in the U.S. has increased. Similarly, according to the International Diabetes Federation (IDF), the Middle East and North Africa (MENA) region would have the highest age-adjusted prevalence of diabetes in adults in 2019, 2030, and 2045, of 12.2%, 13.3%, and 13.9%, respectively.
The drainage consumables market has various key players, such as Johnson & Johnson, Smith & Nephew PLC, Stryker Corporation, Zimmer Manufacturing Company, ConvaTec Group plc, McKesson Corporation, and B. Braun Melsungen AG.
In recent years, players in the drainage consumables industry have been actively involved in product launches to cut through the strong market competition.
|Base Year (2019) Market Size||$1,604.0 Million|
|Market Size Forecast in 2024||$1,823.1 Million|
|Forecast Period CAGR||2.8%|
|Report Coverage||Market Trends; Revenue Estimation and Forecast; Segmentation Analysis; Country Breakdown; Competitive Analysis; Companies’ Strategic Developments; Product Benchmarking; Company Profiling|
|Market Size by Segments||By Product Type; By Application; By Region|
|Market Size of Geographies||U.S. Canada; Germany; France; Italy; U.K.; Spain; Japan; China; India; Australia; Brazil; Mexico; South Africa; South Arabia|
|Secondary Sources and References (Partial List)||American Diabetes Association; Canadian Institute for Health Information; Commonwealth Fund; European Union; International Diabetes Federation; Medical Tourism; National Center for Biotechnology Information; National Health Service; National Kidney Foundation Inc.|
The global drainage consumables market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2024.
Based on Product Type
Based on Application
In 2024, the market for drainage consumables will generate $1,823.1 million.
In the drainage consumables industry, the highest demand is generated for drainage bags.
North America is the largest market for drainage consumables because of the high demand for such products in the U.S., government initiatives for public healthcare, and increasing incidence of CKDs.
Under the application segment of the drainage consumables industry, the wound category will grow the fastest.
Most players in the market for drainage consumables are launching improved products.
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