The Surgical Drainage Devices Market is being driven by Rise in number of surgeries
The Surgical Drainage Devices Market is expected to grow at a CAGR of 3.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 425.3 million. In the realm of breast cancer surgery, axillary node dissection is a crucial procedure that carries a substantial risk of lymphedema and chronic pain. Traditional methods of local anesthesia have limitations in mitigating acute and persistent postsurgical pain. However, recent advancements involve administering local anesthesia via surgical drains, providing pain relief for up to 3-4 hours and even up to 24 hours. The burgeoning market for surgical drainage devices is primarily fueled by the rising incidence and prevalence of chronic diseases, including cancer and cardiovascular conditions such as heart disease, strokes, and type 2 diabetes.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Thoracic and cardiovascular surgeries, Neurosurgical procedures, Abdominal surgery, Orthopedics, Others) End-user (Hospitals, Ambulatory surgical centers, Clinics) Geography (North America, Europe, Asia, Rest of World (ROW)).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Surgical Drainage Devices Market Research Report
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Surgical drainage devices are essential medical tools used in various types of surgeries, including cancer-related procedures, neurological disease interventions, eye surgeries, cardiovascular procedures, plastic and cosmetic surgeries, and reconstructive surgeries. These devices facilitate fluid removal and air buildup management, reducing the risks of infection, hospital readmissions, and extended hospital stays. Drain types include Penrose drains and negative pressure devices from companies like Acelity. Post-operative patients in hospitals, ambulatory surgical centers, and clinics benefit from these devices. Chronic diseases and surgical care guidelines necessitate their use, with medical technology and healthcare investments driving their market growth. Out-of-pocket expenses and infection risks are significant considerations for patients undergoing surgeries, making the use of advanced drainage devices crucial. Medical tourism also plays a role in the market's expansion.
The Surgical Drainage Devices market is a significant segment within the expansive Global Healthcare Equipment Market. This sector encompasses companies and innovations dedicated to the research, development, and manufacturing of surgical drainage devices, used for fluid removal post-surgeries. These devices play a crucial role in surgical care guidelines, particularly in chronic diseases and cancer-related surgeries, where infection risks are heightened. Technavio, a leading market research firm, calculates the size of the Global Healthcare Equipment Market based on the combined revenue of diagnostic equipment and device manufacturers. This industry includes the Devices segment, which comprises advanced, differentiated, and clinically tested devices. Hospital stays and re-admissions are reduced through the utilization of effective surgical drainage systems, thereby decreasing out-of-pocket expenses for patients.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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