(I-BusinessNews.Com, March 02, 2021 ) According to research report the surgical drains market is expected to reach USD 2.18 Billion by 2022 from USD 1.82 Billion in 2017, growing at a CAGR of 3.7%.
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The growth of this market is mainly driven by the growing geriatric population, increasing number of surgical procedures, and rising awareness programs globally.
The surgical drains market is highly competitive with several big and small players. Prominent players in this market include B. Braun (Germany), Cardinal Health (US), ConvaTec (UK), C.R. Bard (US), Redax (Italy), Ethicon (US), Stryker (US), Romsons (India), Medtronic (Ireland), Medline Industries (US), Cook Medical (US), Poly Medicure (India), Zimmer Biomet (Indiana), Global Medikit (India), Degania Silicone (Israel), Aspen Surgical (US), National Surgical (Australia), Axiom Medical (US), Péters Surgical (France), Ningbo Luke medical China), Goharshafa (Iran), ARMSTRONG MEDICAL (UK), Angiplast (India), CHIMED (Italy), and pfm medical (Germany).
Expansions accounted for the largest share of the overall growth strategies followed by key players between 2014 and 2017. Some of the companies that adopted this strategy include Medtronic (Ireland), B. Braun (Germany), Cardinal Health (US), Stryker (US), and Cook Medical (US).
B. Braun Melsungen held the leading position in the global surgical drains market in 2016. The company offers an extensive range of surgical drains. The company has a strong geographic presence and focuses on expansions to strengthen its foothold in the market. In September 2014, the company formed a new subsidiary—B. Braun of Canada, Ltd. This expansion enabled the company to work more closely with customers and Group Purchasing Organizations across the country. The company’s Hospital Care and Aesculap division witnessed a 4.7% and 3.7% growth in its net sales due to strong performance in surgical solutions in 2016. Aesculap also provides advanced training for physicians and specialists in hospitals and medical practices to enable them to keep up with the rapid pace of developments in the healthcare industry through the Aesculap Academy. The Aesculap Academy has local headquarters in more than 40 countries.
Cardinal Health has a strong geographic presence and a robust product portfolio of surgical drains. As part of its growth strategy, Cardinal Health focuses on organic growth strategies like geographic expansions to increase and enhance its market presence in the surgical drains market. For instance, in 2015, the company opened its new healthcare supply chain innovation center in the US. It provides customized healthcare solutions to hospitals, ambulatory surgery centers, clinical laboratories, pharmacies, and physician offices across the globe. The company’s high-quality products and its presence across the globe help it to hold a leading position in the surgical drains market.
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In 2017, North America is expected to dominate the market followed by Europe. The large share of this geographical segment is attributed to factors such as increasing incidence of chronic wounds and surgical site infections, growing number of surgical procedures, rising geriatric population, and higher adoption and awareness of advanced surgical and wound care products.
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