Why Are Healthcare Providers Using Drainage Consumables?

 The International Federation of Kidney Foundations (IFKF) and the International Society of Nephrology (ISN) state that nearly 1 in 10 people suffer from some degree of chronic kidney disease (CKD). Kidney disease is highly prevalent among American Indians, African Americans, Hispanics, and people of South Asian origin, due to the high incidence of diabetes and high blood pressure in these communities. For instance, the International Diabetes Federation (IDF) forecasts that 152,777,900 people aged 20–79 years in Southeast Asia will be living with diabetes by 2045.

Thus, the rising prevalence of CKD and diabetes will drive the drainage consumables market at a CAGR of 2.8% during the forecast period (2020–2024). The market was valued at $1,604.0 million in 2019 and it is projected to generate $1,823.1 million revenue by 2024. Moreover, the improving healthcare infrastructure, on account of the soaring healthcare expenditure and increasing technological advancements in the medical sector, will also contribute to the market growth in the forecast years.

The application segment of the drainage consumables market is classified into biliary, pleural, urinary, ventricular, wound, and others. Under this segment, the wound category is expected to demonstrate the fastest growth in the forecast years, owing to the increasing incidence of road accidents and skin burn cases worldwide. According to the World Health Organization (WHO), nearly 20–50 million road accident victims across the world suffer non-fatal injuries every year. Further, the WHO also estimates that over 1,000,000 people in India and approximately 173,000 children in Bangladesh are moderately or severely burnt every year.

According to P&S Intelligence, North America accounted for the largest share in the drainage consumables market in 2019, and it will retain its lead during the forecast period as well. This can be primarily ascribed to the surging prevalence of CKD in the U.S. The CDC states that, in the U.S., CKD is highly prevalent among the people aged 65 years and over and affects around 38% of the people in this age group. As per the CDC, around 37 million people in the U.S. are living with CKD.

Get More details Drainage Consumables Market Drivers

This study covers

• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings

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