Pericardiocentesis Procedures Market to Reflect Impressive Growth Rate by 2024

Pericardiocentesis Procedures Market: Introduction

According to the report, the global pericardiocentesis procedures market was valued at ~US$ 161 Mn in 2018 and is projected to expand at a high CAGR during the forecast period. Globally, around 32,047 pericardiocentesis procedures were performed in 2018. Pericardiocentesis is a minimally invasive surgical procedure performed to remove the excess levels of fluid accumulated in the pericardium sac around the heart. The procedure involves the usage of a small needle, which is inserted into the pericardium sac, and a catheter to remove the fluid. Several factors lead to the development of pericardial effusion (excess fluid accumulated in the pericardium). The underlying causes of pericardial effusion are viral, bacterial, and parasitic infections, tuberculosis, breast & lung cancer, end-stage renal diseases, and post-operative cardiac surgery complication. Of the different causes of pericardial effusion, malignancies and cardiovascular diseases are the most common causes, accounting for more than 50% of total pericardial effusion reported cases. The growth of the global pericardiocentesis procedures market can be attributed to rise in prevalence of breast & lung cancer across the globe, high adoption of minimally invasive surgeries for treatment of different medical conditions, and increase in the geriatric population.

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North America dominated the global pericardiocentesis procedures market in 2018 and the trend is projected to continue during the forecast period. This can be ascribed to high prevalence of cardiovascular disorders, increase in incidence of breast & lung cancer, favorable reimbursement policies, and launch of new products.

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Prevalence of Risk Associated with Cardiac Tamponade to Drive Global Market

Heart attack, hypothyroidism, bacterial infection, tuberculosis (TB), and cancer are the common causes of cardiac tamponade. Advanced lung cancer, breast cancer, leukemia, melanoma, and lymphomas are the various types of cancer that could affect paricardium and result in development of cardiac tamponade. Breast cancer is a frequently occurring cancer among women. According to the World Health Organization, around 2.1 million women across the world are diagnosed with breast cancer every year. In 2018, an estimated 627,000 women succumbed to breast cancer across the globe. According to World Health Organization (WHO) statistics published in December 2013, 1.7 million i.e., 11.9%, people were diagnosed with breast cancer globally in 2012. Breast cancer was the cause of death of 522,000 women globally in 2012. According to the World Cancer Research Fund, the number of breast cancer cases will reach 5.5 million in 2030. Hence, rise in prevalence of risk factors associated with cardiac tamponade across the globe is projected to drive the pericardiocentesis procedures market during the forecast period.

Increase in Geriatric Population to Propel Global Market

Geriatric population in countries such as India and China has increased considerably in the past few years. Prevalence of various cardiac diseases is higher among the geriatric population, along with other health conditions such as cancer, thyroid, obesity, and diabetes. Elderly population with these health conditions is at a high risk of cardiac tamponade. Cardiac tamponade due to kidney diseases or injury and malignancies is mostly observed among the elderly population. Moreover, pre-existing heart disease in elderly population increases the risk of cardiac tamponade and could lead to sudden death due to delayed diagnosis and treatment. The elderly population with medical history of hypothyroidism, hypertension, and cardiac diseases is highly prone to cardiac tamponade.

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Malignancies to be Key Indication

In terms of indication, the global pericardiocentesis procedures market has been classified into infections, malignancies, inflammatory/rheumatology, cardiac, and others. Malignancies is projected to be the leading segment during the forecast period. The malignancies segment has been categorized into lung cancer, breast cancer, lymphoma, and others. High prevalence of lung cancer, breast cancer, lymphoma, and other metastatic cancers across the globe; rise in awareness about cancer, and adoption of westernized lifestyle contributed to dominant share of the segment in 2018. According to the World Cancer Research Foundation (WCRF), in 2018, more than 2.1 million cases of lung cancer and 2 million cases of breast cancer were diagnosed across the world.

Hospitals to be Dominant End User
Based on end user, the global pericardiocentesis procedures market has been divided into hospitals, cardiac centers, and others. The hospitals segment held the largest market share in 2018 and the trend is anticipated to continue during the forecast period. Hospitals are the first choice of settings for treatment of cardiac tamponade across the globe. Well-established surgical infrastructure in hospitals, rise in hospitalization for the underlying causes of cardiac tamponade, and large number of chemotherapy and radiation therapy treatments in hospitals contributed to the segment’s large share of the global market. The cardiac centers segment is projected to grow at a rapid pace during the forecast period.

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Pericardiocentesis Procedures Market: Prominent Regions

The global pericardiocentesis procedures market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global pericardiocentesis procedures market in 2018, followed by Europe. North America accounted for major share of the global market in 2018. This can be attributed to high awareness about various underlying medical conditions, rise in prevalence of breast cancer, and high adoption of minimally invasive surgeries. The market in Asia Pacific is projected to expand at the highest CAGR during the forecast period, owing to large patient pool of cancer, cardiovascular diseases, and infections in India, China, Australia, and New Zealand, rise in per capita healthcare expenditure, and increase in access to healthcare. The market in Latin America and Middle East & Africa is anticipated to grow at a moderate pace during the forecast period.

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Expansion of Facilities and Rise in Investments in Infrastructure by Key to Augment Global Market

The global pericardiocentesis procedures market is fragmented in terms of number of players. A large number of players accounts for significant share of the global market. Key players operating in the global pericardiocentesis procedures market include Cleveland Clinic, NewYork-Presbyterian Hospital, The Johns Hopkins Hospital, Saint George Hospital, Buddhist Tzu Chi Medical Foundation, J.W. Goethe University Hospital, The University of Tokyo Hospital, Mediclinic International, and Apollo Hospitals Enterprise Ltd, These players have adopted various strategies such as mergers and acquisitions, facility expansion, and improved surgical infrastructure.

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