The thoracic catheters market share will post an incremental growth of USD 154.02 million, progressing at a CAGR of 6.55% during the forecast period. The increasing prevalence of pneumothorax and pleural effusion diseases will offer immense growth opportunities to market vendors. The thoracic catheter market is fragmented, and the vendors are deploying growth strategies such as using low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Thoracic Catheters Market by Application, Product, and Geography - Forecast and Analysis 2022-2026” provides a detailed market analysis of the prevalent market forces, trends, and challenges that are likely to impact the market in focus.
The thoracic catheters market is segmented by application (pleural effusion, pneumothorax, and others), product (accessories and catheters), and geography (North America, Europe, Asia, and the Rest of the World (ROW)).
The growth of the thoracic catheters market in the pleural effusion segment will be significant during the forecast period. By geography, 41% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for thoracic catheters in North America. Factors such as the presence of extensive healthcare insurance coverage, increasing R&D expenditure of vendors, and high adoption of technologically advanced products will drive the thoracic catheters market in North America.
The increasing prevalence of pneumothorax and pleural effusion diseases will directly influence the sales of thoracic catheters. In addition, factors such as the growing adoption of single-use catheters and self-catheterization are the major thoracic catheter market trends that will have a positive impact on market growth. However, factors such as the lack of skilled professionals to perform catheter insertion procedures will hamper the thoracic catheter market growth.
Some of the major thoracic catheter market vendors are Argon Medical Devices Inc., ATMOS MedizinTechnik GmbH and Co. KG, Becton Dickinson and Co., Bicakcilar Medical Devices, Cook Group Inc., Diversatek Inc., GBUK Group Ltd, Getinge AB, intra special catheters GmbH, LivaNova Plc, Medela AG, Merit Medical Systems Inc., Pacific Hospital Supply Co. Ltd., Redax Spa, Rocket Medical Plc, Smiths Group Plc, Sterimed Group, Teleflex Inc., ANGIPLAST Pvt. Ltd., and Cardinal Health Inc.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the thoracic catheters market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the thoracic catheters market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the thoracic catheters market.
Thoracic catheters industry growth across North America, Europe, Asia, and Rest of World (ROW).