The drainage bottle market, which was valued at US$ 473.3 Mn in 2021, is anticipated to grow at an average annual rate of 8.5% during the following ten years, according to a Fact.MR analysis. The market is anticipated to be valued at US$ 1.2 billion by the end of 2032, with an absolute dollar opportunity of US$ 640 million over the following 10 years.
The global demand for drainage bottles is projected to grow as accidents and illnesses like uremia and cardiovascular disorders become more common. The market is anticipated to expand as drainage bottles are increasingly used in procedures including thoracic surgery, uremia treatment, wound care, and others.
Key Takeaways from the Market Study
By 2022, the global drainage bottle market is anticipated to generate US$ 511.6 million.
The market for drainage bottles is anticipated to expand at a CAGR of 8.5% during the following ten years.
The absolute dollar potential is expected to reach US$ 640 Mn during the following ten years.
Chest drainage is anticipated to continue to be the most popular application category from 2022 to 2032, growing at a CAGR of 10.4%.
China’s market is anticipated to experience the quickest growth during the estimated period, with a CAGR of 10.8%.
The drainage bottle market is led by several local and international producers. To provide their services across many industries, they compete based on product innovation, quality, brand reputation, and market presence. A competitive environment has been created among industry participants as a result of drainage bottles’ increasing adoption and deployment.
The industry participants in the global drainage market are making investments in R&D to introduce technological innovations into the market and meet unmet demand. In the upcoming years, these businesses plan to strategically grow in several ways. Market participants frequently diversify their portfolios, build their businesses, increase their distribution networks, and create new products through strategic mergers and acquisitions.
The following are the market’s main developments:
• In December 2021, Taiwan Industrial Technology Promotion Association presented the 18th Golden Root Award to PAHSCO. An outstanding company representative with “localization and globalization” received this award in recognition of their remarkable contributions to Taiwan’s economy.
• To fulfill its CSR obligation and aid in the government’s fight against the pandemic, PAHSCO gave 10,000 closed suction systems to frontline healthcare personnel in June 2021.
PFM Medical Expert, a new subsidiary of PFM Medical that provides direction and support on all facets of quality management, clinical project management, and MDR compliance, made its debut in April 2021.