SURGICAL DRAINAGE DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

Global Surgical Drainage Devices Market - Drivers

Increasing geriatric population, rise in number of surgeries, and increase in incidences of target diseases, globally are major drivers of the market. Furthermore, increased tobacco and alcohol consumption, rise in number of cancer-related surgeries, and increasing demand for minimally invasive surgeries are factors driving the market globally. The manufacturers are launching innovative surgical drainage devices in the market to meet the unmet needs of patients which gives the significant opportunities for existing players and new entrants. For instance, recent development in the market include surgical drain line stripping devices by the Mayo Foundation and Medical Education and Research launched in April 2018, surgical drain management apparatus (post-surgical drain management punch) by i-lnspire LLC in March 2018, and surgical drain system by Spectral Spine IP Holdings, LLC in August 2017.

According to the American Heart Association, 2016, cardiovascular diseases accounted for 17.3 million deaths every year globally, where an estimated 23.3 million people are expected to die globally from CVD by 2030.

Moreover, the medical technological companies are focused on undertaking strategic acquisitions to strengthen the product portfolio, thereby enhancing opportunities in fast growing clinical areas in non U.S. markets. For instance, in April 2017, Becton, Dickinson and Company (BD), a global medical technology company and Bard, Inc., a medical technology leader in urology, oncology, and surgical specialty products entered into an agreement, under which BD will acquire Bard for $317.00 per Bard common share in cash and stock, for the total consideration of $24 billion. This acquisition will lead to improve process of care and treatment of disease for patients and healthcare providers.