Thoracic Catheters Market Size, Share, Growth, and Industry Growth, By Type (Catheter, Analog, and Digital), By Application (Pneumothorax and Pleural Effusion), Regional Forecast To 2031

Updated On: 01 April 2024

Thoracic Catheters Market REPORT OVERVIEW

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The global thoracic catheters market size was USD 375.4 million in 2021 and is projected to touch USD 713.12 million by 2031, exhibiting a CAGR of 6.6% during the forecast period.

The thin, flexible tube put into the patient's chest is known as a thoracic catheter. Its purpose is to drain fluid from the pleural space, which is the region between the lungs and the chest wall. The thoracic catheter can also be used to assess pleural pressure and inject medications or fluids into this region. The catheter is inserted intraoperatively and helps to restore and maintain pressure by removing gas and fluid deposits from the pleural cavity. This has a rounded open distal end with smooth eyes that is atraumatic. An endotracheal tube, which is introduced into the trachea and used for artificial breathing and ventilation during anesthesia, surgery, or mechanical ventilation of patients with respiratory failure, is the most frequent form of thoracic catheter.

The market is growing as a result of the healthcare industry's increasing requirement for thoracic catheters and the extensive usage of technology in the sector. The need for thoracic catheters is rising as more hospitals become accessible that have good facilities for offering sophisticated surgical support. The primary drivers of this growth are rising rates of acute lung diseases such as pneumonia, rising rates of chronic pulmonary diseases like asthma, COPD, and cystic fibrosis, rising patient awareness of the advantages of thoracic catheters, and rising use of minimally invasive techniques in chest surgery.

COVID-19 Impact: Increasing Defense Mechanism to Slow Down the Market Growth

The respiratory virus known as COVID-19 pandemic was initially discovered in April 2012. It is a member of the coronavirus family and an RNA virus. A variety of symptoms, from minor colds to life-threatening pneumonia, can be brought on by the virus. The pandemic has had an impact on the market for thoracic catheters in such a manner that there has been a decline in demand for items like masks and gloves that are used by healthcare personnel to keep them from getting the disease since they are no longer necessary. This had a minor impact on the market.

LATEST TRENDS

"Use of Disposable Product to Support Market Development"

The adoption of disposable thoracic catheters by more and more businesses is the most recent development in the thoracic catheters market. This is due to the fact that they are not only economical but also do away with the requirement for sterilizing and disposal. Hospitals may save money by using disposable thoracic catheters, which is a terrific option. They can also be a great option for patients as they won't need to worry about infections. Since it is a one-time use, the market needs additional items to keep up with demand.

Thoracic Catheters Market SEGMENTATION

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• By Type

Based on type; the market is divided into catheter, analog, and digital

Digital catheters are the leading part of the type segment.

• By Application

Based on application; the market is divided into pneumothorax, pleural effusion, and others

Pneumothorax is the leading part of the application segment.

DRIVING FACTORS

"Increasing Demand for Laparoscopy Accelerate the Market Demand"

Thoracic catheters are a specialized product, and their market is expanding exponentially. A variety of reasons, including technical developments, a rise in the need for minimally invasive operations, and an increase in the number of procedures, have been propelling the expansion of the worldwide thoracic catheters market over the last few years. People's dread of surgery started to fade as a result of the desire for minimally invasive procedures that is being driven by technology advancements every day. This is what causes the rise in thoracic catheter demand.

"Increasing Health Issues to Inflate Market Growth"

The primary reason pushing thoracic catheters market's expansion is the rising prevalence of cardiovascular disorders, high blood pressure, diabetes, and obesity. Additionally, it is anticipated that rising demand for early illness detection and treatment would accelerate market expansion overall. Additionally, the government's generous reimbursement policies and the rising incidence of spontaneous pneumothorax are anticipated to drive market expansion. The rise in the incidence of spontaneous pneumothorax also slows the market's expansion within the anticipated time frame.

RESTRAINING FACTORS

"Lack of Skilled Personal to Hamper Product Demand"

Thoracic catheters market growth is anticipated to be hampered by the absence of healthcare facilities and qualified personnel in emerging countries. Additionally, the market is expected to face challenges during the forecast period as a result of the strict regulatory standards. Given that it is a medical equipment, even a minor mistake might result in the patient's death. For those who are experts in this field, sacrificing on quality of work is thus not at all conceivable. To utilise the product, skilled personnel are required.

Thoracic Catheters Market REGIONAL INSIGHTS

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"North America to Lead Market Owing to Technological Advancement"

The thoracic catheters market share is largest in North America. Thoracic catheter demand is expanding as a result of the increased desire for less invasive operations and government funding. This is one of the regions that was scarcely affected by the epidemic, thus the lung diseases that resulted from it are what are driving up demand for the product in this area. Because of its superior healthcare infrastructure, increased prevalence of chronic illnesses, higher healthcare spending, and easy access to cutting-edge technology, North America dominates the global market for thoracic drainage devices.

KEY INDUSTRY PLAYERS

"Market Participants to Accelerate the Market Growth"

The study provides details on market participants and their sector-related activities. Through appropriate research, technical advancements, acquisitions, mergers, the expansion of production facilities, and collaborations, information is gathered and reported. The organizations that create and introduce new goods, the areas in which they operate, automation, technology adoption, creating the greatest revenue, and making a difference with their products are other factors considered for this market.

List of Market Players Profiled

• Medtronic (Ireland)
• Teleflex (U.S.)
• Smiths Medical (U.S.)
• Medela(Switzerland)
• Redax (Italy)
• Atmos (U.S.)
• Sorin (Italy)
• Argon (U.S.)
• Cook Medical (U.S.)
• PAHSCO (Taiwan)
• Diversatek (U.S.)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.