11 Nov 2021
Posted in Medical Devices
Percutaneous drainage catheters market in Asia-Pacific to grow at 2.5% CAGR through 2030, forecasts GlobalData
The percutaneous drainage catheters market in the Asia-Pacific (APAC) region is expected to grow at a compound annual growth rate (CAGR) of 2.5% through 2030, with the primary growth factor being changing preference of patients and surgeons from open surgical procedures to percutaneous or minimally invasive procedures, forecasts GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Percutaneous Drainage Catheters (General Surgery) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that Cook Medical, Boston Scientific and Merit Medical are the leading players in the APAC region, together accounting for more than 70% of the overall percutaneous drainage catheters market in 2021.
Vinita Sippy, Medical Devices Analyst at GlobalData, comments: “While there are different types of catheters used for percutaneous drainage, the most widely used ones are multipurpose drainage catheters and centesis drainage catheters, together comprising about 90% of the market by volume.”
Multipurpose drainage catheters are primarily used for abscess drainage procedures, which are majorly performed in an inpatient setting. Centesis drainage catheters, on the other hand, are used for paracentesis and thoracentesis procedures which are majorly performed as outpatient procedures.
Ms. Sippy concludes: “Shorter recovery period, reduced risk of contamination leading to fewer complications, and procedure specific product development by manufacturers are likely to drive growth of the percutaneous drainage catheters market in the region.”