According to FutureWise analysis the market for Thoracic Drainage Devices in 2023 is US$ 0.8 billion, and is expected to reach US$ 1.23 billion by 2031 at a CAGR of 5.50%.
Thoracic drainage devices are medical devices that are used to remove liquids, air, and solid particles from the pleural space or chest mediastinum. Thoracic surgery and pulmonology, infectious illness, general intensive care and emergency medicine, heart surgery, cancer and pain management, and military medicine are only few of the uses.
The most significant driver driving this market's growth is the rising prevalence of cardiovascular illnesses, high blood pressure, diabetes, and obesity. Furthermore, the rising need for early illness detection and treatment is expected to support the market's overall growth.
Furthermore, the government's favorable reimbursement regulations and the rising prevalence of spontaneous pneumothorax are projected to drive market expansion. The increased popularity of minimally invasive treatments, as well as the lower healthcare costs associated with them when compared to traditional surgical procedures, are expected to support the market's expansion. Furthermore, the rising prevalence of spontaneous pneumothorax dampens market growth throughout the anticipated period.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Thoracic Drainage Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Thoracic Drainage Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.