Mar 09, 2020
Pleural Catheters Market Set to Surpass US$ 44.3Mn by 2029, North America Contributing Significant Revenue Share, Projects Fact.MR
by Team Fact.MR
The use of pleural catheters is gathering momentum globally owing to its proven efficacy as a treatment solution for malignant pleural effusions when pleurodesis has failed or is contraindicated. Pleural catheters are being used as a frontline therapy in order to improve patient quality of life, patient safety and clinician efficiency. Freedom from hospital admissions and effective symptomatic relief with minimum interventions are some of the critical factors propelling the growth of the pleural catheters market. Pleural catheters have gained clinical significance on the back of their effective fluid control and improved dyspnea, affordability and its efficacy as a minimally invasive procedure. Outpatient procedures, reduction in associated risk, cost and hospitalization have prompted the expansion of the pleural catheters market. Moreover, inclination towards the use of pleural catheters, growing prevalence of pleural effusion and rising cases of COPD in emerging regions are the factors driving the market growth. On this premise, the global pleural catheters market was valued at US$ 22.6 Mn in 2018, and is expected to witness a healthy CAGR of 6.4% during the forecast period (2019 – 2029).
Key Takeaways of Pleural Catheters Market Study
- Malignant Pleural Effusions emerged as the largest segment by indication type representing 75% of revenue share in the pleural catheters market. This is attributed to the viable alternative management strategy and its most frequently utilization in the clinical management of pleural infection, both malignant and benign effusion
- Hospitals accounted for a majority of the revenue share of 65% owing to the availability of pleural catheters and skilled personnel for better clinical management of patients with pleural infection
- Cumulatively, North America and Europe contribute more than 60% of market share in pleural catheters market with North America holding a noteworthy market share and the regional market is expected to grow at a CAGR of 7.3% during the forecast period
- Increasing number of thoracic surgeries performed are increasing prevalence of pleural diseases and thus giving an uptick to the demand for pleural catheters.
“Significant morbidity reduction, prompt hospital discharge, less risk of re-intervention coupled with same-day outpatient procedures, performed by home healthcare provider or a trained family member are the key factors which paves the way for frontline therapy for pleural infection patients” says the Fact.MR Analyst
Pleural Catheters Manufacturers Strategically Focus on New Product Launches
Continuous upgradation and product launches in pleural catheters market are responsible for intense competition among the market players. Numerous organizations are focusing on new product approvals for pleural catheters. For example, in February 2018, Merit Medical launched Aspira® Drainage System which is a tunneled, long-term catheter used to drain accumulated fluid from the pleural or peritoneal cavity to relieve symptoms associated with malignant pleural effusion or malignant ascites. The system allows patients to drain fluid and manage their symptoms without repeated trips to the hospital. These winning strategies by leading players are also followed by regional and local players.
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The research study on the pleural catheters market by Fact.MR incorporates an unbiased assessment of key demand-driving factors and trends, which have shaped the landscape of the pleural catheters market over 2014 – 2018 and includes a detailed assessment of key parameters that are anticipated to exert influence during 2019 – 2029. Market statistics have been presented on the basis of indication (Malignant Pleural Effusions, Non-Malignant Recurrent Effusions, Chylothorax, Empyema, Haemothorax), and end user (hospitals and ambulatory surgical centers) across major countries of key regions.
>>> To Get more insights on pleural catheters market, visit- https://www.factmr.com/report/3128/pleural-catheters-market
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