Global Surgical Drains Market Size to Hit $3.07 Billion by 2030: Allied Market Research
Rise in prevalence of chronic disease & number of surgeries, increase in geriatric population, and technological advancements are the factors affecting the growth of the surgical drains market across the globe. The COVID-19 crisis has a negative impact on the global surgical drains market, attributing to the nationwide lockdowns, social distancing norms, hampered supply chain, and reduced demand for surgical drains items.
Portland, OR, Sept. 28, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Surgical Drains Market generated $2.05 billion in 2020, and is projected to reach $3.07 billion by 2030, exhibiting a CAGR of 4.1% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
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Growth of the global surgical drains market is mainly attributed to increase in chronic diseases and rise in the number of surgeries. Rise in usage of surgical devices in various applications and the focus of manufacturers on creating advanced tubes are a couple of key factors that also lead to the market growth.
However, factors including rise in the number of minimally invasive processes, complications connected to the usage of the systems, and rise in chances for infection will hamper the market growth. Contrarily, rise in medical awareness will offer a lucrative opportunity to the market players.
COVID-19 IMPACT ON GLOBAL SURGICAL DRAINS MARKET:
- Lockdown and social distancing were adopted by countries across the world, which caused a decline in the number of surgeries.
- The government passed guidelines during COVID-19 to provide surgical services to patients who require urgent attention and postpone other surgeries. This reduced the demand for surgical drains products that are used post-surgery.
The report segments the global surgical drains market on the basis of type, product, application, end-user, and region.
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Based on application, the general surgery segment accounted for the largest market share in 2020, contributing to more than one-fourth of the total share, and is expected to maintain the lead throughout the forecast period. However, the cardiac & thoracic surgery segment is expected to exhibit the highest CAGR of 4.9% from 2021 to 2030.
Based on end-user, the hospital segment contributed to the largest share in 2020, accounting for more than four-fifths of the global surgical drains market. The same segment is expected to lead throughout the forecast period. However, the ambulatory surgical centres & clinics segment is expected to manifest the highest CAGR of 4.6% from 2021 to 2030.
Based on region, Europe contributed to the highest share in 2020, holding nearly one-third of the total share. On the other hand, Asia-Pacific is expected to portray the fastest CAGR of 5.1% from 2021 to 2030.
Leading players of the global surgical drains market analyzed in the research include Cardinal Health Inc., Becton, Medtronic Plc, Medline Industries Inc, B Braun Redax S.P.A, ConvaTec Group Plc, Romsons Group Private Ltd, Dickinson and Company(C.R.BARD, INC.), Johnson & Johnsons (Ethicon Inc), and Stryker Corporation.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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