Paracentesis Drainage System Market Trends

  • Report ID: 4175
  • Published Date: Mar 09, 2023
  • Report Format: PDF, PPT

Paracentesis Drainage System Market Trends

Growth Drivers 

  • Increase in Cases of Heart Failure, 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. Furthermore, 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.

  • 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 the 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 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 - Owing to the increased number of initiatives undertaken by the government, and growing support for the short-term procedure to enhance patient comfort are some of the factors driving the growth of this market.  According to the India Brand Equity Foundation (IBEF), the Indian government intends to launch a credit incentive program of approximately worth ~USD 6.8 billion 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 – The paracentesis drainage procedure comes with a couple of health issues and complications such as Hemorrhage, ascetic 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

Paracentesis Drainage Systems Market: Key Insights

Base Year

  2022

Forecast Year

  2023 - 2035

CAGR

  ~7%

Base Year Market Size (2022)

  ~USD 1 billion

Forecast Year     Market Size (2035)

  ~USD 4 billion

Regional Scope

  • North America (U.S. & Canada) 
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
  • 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)
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)
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Author Credits:  Radhika Pawar


  • Report ID: 4175
  • Published Date: Mar 09, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The rising cases of chronic diseases such as heart failure, lung cirrhosis, cancer, and others, along with rising healthcare expenditure are the major factors driving the growth of the paracentesis drainage system market.

The market is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2035.

Complication associated with the procedure such as hemorrhage, ascetic fluid leakage, perforation, low blood pressure, and infection is the few factors likely to hamper the market growth.

The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Cardinal Health, Inc., Avanos Medical, Inc., Teleflex Incorporated, Boston Scientific Corporation, GI Supply, Inc., CardioMed Supplies, Inc., and many more.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by application, aspiration, end user, and by region.

The hospitals and clinics segment from the end users is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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