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HEALTHCARE & PHARMACEUTICAL

Paracentesis Drainage Systems Market Analysis by Aspiration (Large Volume Removal, and Percutaneous Aspiration); by Application (Diagnostic Procedures, Treatment of Respiratory Distress, Evaluation of Acute Abdomen, and Others); and by End-User (Hospitals & Clinics, Ambulatory Surgical Centers, Long Term Care Facilities, and Day Care Centers) – Global Supply & Demand Analysis & Opportunity Outlook 2022 – 2031

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IN THE NEWS

  • Merit Medical Systems, Inc. introduced a new product in the market named One-Vac Evacuated Drainage Bottle, which is flexible and efficient for paracentesis procedures. This product aims at providing ease to patients who require drainage procedures on a regular basis. Devices are composed of durable plastic that prevents breakage.
  • pfm Medical Ag. acquired Hirtz & Co. KG (HiCo), a medium-sized medical device company. HiCo to remain legally independent with its own customers and suppliers. This acquisition allows pfm Medical to expand its market potential and strengthen its position as a medical device manufacturer.

Global Paracentesis Drainage Systems Market Size, Forecast, and Trend Highlights Over 2022 – 2031

Paracentesis-Drainage-Systems-Market-Growth

The global paracentesis drainage systems market is estimated to garner a moderate revenue by the end of 2031 by growing at a significant CAGR over the forecast period, i.e., 2022 – 2031. The market is estimated to grow primarily on the back of growing concerns about the rising prevalence of ascites patients worldwide. Ascites is a build-up of fluids inside the abdomen and have severe effects on health. Ascites occur as a result of cancer, abdominal infection and injuries, or liver cirrhosis. Cancer is the leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, according to the World Health Organization (WHO), with 2.26 million cases of lung cancer and 1.09 million cases of stomach cancer. Every year, approximately 400,000 children and adolescents aged 0 to 19 years are diagnosed with cancer.

Paracentesis-Drainage-Systems-Market-Size

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People diagnosed with ascites are advised to go with paracentesis. It is a process of removing ascites from the abdomen. The procedure entails administering some local anesthetics to the operating area. The operating area is punctured with a needle, and the catheter is inserted into the abdomen. The catheter is connected to a small tube-shaped bottle, and ascites liquid is drained into the bottle automatically via the catheter. Once enough fluid has been drained from the bottle, the catheter is removed from the abdomen and a piece of medical tape is wrapped around the punctured point. Following the completion of the procedure, a few tests are performed on the drained fluids to determine the root cause of the ascites formation.

Previously, hospitals were required to have ultra-sonographic equipment to detect and treat ascites symptoms, but some patients may have difficulty getting to the hospital. However, recent technological advancements enable patients to undergo abdominal paracentesis at home. For instance, tunnel peritoneal drainage catheter usage for home-based drainage of refractory ascites results in viable and effective treatment with no adverse effect on health in terms of kidney functioning and hyponatremia. Moreover, the most common cause of ascites is cirrhosis of the liver. Cirrhosis is more common among adults aged 45 to 54 years. For instance, according to the Centers for Disease Control and Prevention, New Mexico had a death rate of 33.4% for chronic liver disease per 100,000 people in 2020.

Global Paracentesis Drainage Systems Market: Growth Drivers and Challenges

Growth Drives

  • Increase in Cases of Heart Failures, Abdominal Cancers, Liver Cirrhosis, and Tuberculosis to Drive the Market Growth

In recent years, more cases of ascites have been diagnosed, owing to the increasing cases of heart failure, abdominal cancer, liver cirrhosis, tuberculosis, and others, resulting in the growth of the market. For instance, according to the Centers for Disease Control and Prevention, in 2020 there were about 6.2 million cases of heart failure.

The most common causes of liver cirrhosis are alcohol abuse, hepatitis, and other types of viruses. It is more common among people aged between 45 and 54 years of age.  According to the Centers for Disease Control and Prevention, in 2018, around 4.5 million adults were diagnosed with liver disease in the United States.

According to the World Health Organization (WHO), in 2020 there were 10 million cases of tuberculosis globally, of which 5.6 million were men, 3.6 million were women, and 1.1 million were children. Two-thirds of the total tuberculosis cases globally are diagnosed in countries such as India, South Africa, Philippines, Bangladesh, Nigeria, Indonesia, China, and Pakistan.

  • Increasing Adoption of Paracentesis Procedure by Professionals

There is an increasing adoption of paracentesis procedures owing to the rising cancer cases, as this procedure can alleviate symptoms and improve quality of life for patients with any stage of cancer. According to the data published by the World Cancer Research Fund International (WCRF), globally, around 18 million cancer cases were estimated in the year 2020, out of which about 12% of cases were related to lung cancer.

  • Increase in the Healthcare Expenditure

According to the Centers for Medicare & Medicaid Services, national health spending in the United States is expected to grow at a 5.5 percent annual rate, reaching approximately USD 6.0 trillion by the end of 2027.

  • Initiatives by the Government to Improve Healthcare According to the India Brand Equity Foundation (IBEF), the Indian government intends to launch a credit incentive program worth USD 6.8 billion in order to improve the country's healthcare infrastructure.

Challenges

  • Complications Associated with the Procedure such as Hemorrhage, Ascitic Fluid Leakage, Perforation, Low Blood Pressure, and Infection
  • Early Recurrence of Ascites
  • Some Common Risks Include-Abdominal Discomfort, Lethargy, Failure to Drain Fluid and Others

The global paracentesis drainage systems market is segmented and analyzed for demand and supply by end-user into hospitals & clinics, ambulatory surgical centers, long-term care facilities and day care centers. Out of these segments, the hospitals & clinics segment is anticipated to garner the largest revenue by the end of 2031, as there is a rising demand for healthcare owing to the increasing cases of chronic diseases such as liver cirrhosis, cancer, intestinal chronic liver failure, cystic fibrosis, and others. For instance, in 2019, more than 35 million hospital admissions were reported in the United States. According to the National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), as of 2022, 6 out of every 10 Americans have at least one chronic disease, such as heart disease, stroke, cancer or diabetes.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Healthcare-Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Paracentesis Drainage Systems Market Regional Synopsis

Regionally, the global paracentesis drainage systems market is studied into five main regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is estimated to hold the largest market share by the end of 2031, backed by the rising cases of chronic disease followed by an increasing healthcare expenditure. According to the National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), as of 2022, more than 877,550 Americans die of stroke, heart disease, or other cardiovascular diseases each year.

Paracentesis-Drainage-Systems-Market-Scope

The global paracentesis drainage systems market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global paracentesis drainage systems market includes the following segments:

Paracentesis-Drainage-Systems-Market-Analysis

Top Featured Companies Dominating the Global Paracentesis Drainage Systems Market

  • Merit Medical Systems, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Cardinal Health, Inc.
  • Avanos Medical, Inc.
  • Teleflex Incorporated
  • Boston Scientific Corporation
  • GI Supply, Inc.
  • CardioMed Supplies Inc.
  • Becton, Dickinson and Company
  • Rocket Medical plc.
  • pfm medical ag.

 


 

 

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