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Medical Vacuum Systems Market Size Will Grow at a CAGR of 7.1% Till 2023 | Industry Trends, Dynamics, Share, Key Players and SWOT Analysis

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Medical Vacuum Systems Market Size Will Grow at a CAGR of 7.1% Till 2023 | Industry Trends, Dynamics, Share, Key Players and SWOT Analysis

September 29
13:23 2019
Medical Vacuum Systems Market Size Will Grow at a CAGR of 7.1% Till 2023 | Industry Trends, Dynamics, Share, Key Players and SWOT Analysis

Medical Vacuum Systems Market
Medical Vacuum Systems Market Analysis By Product (Vacuum Systems, Centralized Vacuum Systems, Portable and Compact Vacuum Systems), Technology, Application, End user, Dynamics and Key Players, Forecast To 2023

The global Medical Vacuum Systems Market held a market value of USD 1.03 billion in 2017 and is projected to grow at a CAGR of 7.1% over the forecast period. Vacuum system maintains the pressure inside a chamber under the value of the atmospheric pressure. A medical vacuum system provides a safe, adequate flow of vacuum, and the required pressure to be used in the healthcare facilities such as operating theaters (OTs), intensive care centers, and emergency and respirology/general medicine units. These systems create a suction system to eliminate unnecessary fluids or gases from hospital or laboratory working areas.

Factors facilitating the medical vacuum systems market growth are worldwide growing geriatric population, increasing number of surgical and diagnostic imaging procedures, technological developments in vacuum equipment, and the presence of regulatory frameworks mandating the use of vacuum systems in the healthcare settings coupled with rising adoption of medical vacuum systems. For instance, the World Health Organization (WHO) reported that the worldwide population aged 60 years and above was 962.0 million in 2017, which is projected to increase to over 2.0 billion by 2050 and further would reach to 3.1 billion by 2100. On the flip side, the high cost of vacuum systems and heavy structure of vacuum equipment are anticipated to hinder the medical vacuum systems market growth during the forecast period.

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Medical Vacuum Systems Market Regional Analysis

The global medical vacuum systems market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. On a regional basis, the Americas is expected to command the global medical vacuum systems market. This is attributed to the presence of key market participants (Olympus Corporation, ZOLL Medical Corporation, Ohio Medical Corporation, Precision Medical, Inc.) and sophisticated healthcare infrastructure, implementation of regulatory norms for cleanroom maintenance, manufacturing guidelines, and surgical protocols, rising number of target surgical procedures, increasing end user base, and growth in healthcare expenditure in the US and Canada.

Burgeoning medical device sector in the UK, Germany, and France and the presence of various medical vacuum equipment associations such as European Industrial Gases Association (EIGA), Association of Vacuum Equipment Manufacturers (AVEM), and European Association of Manufacturers of Compressors, Vacuum Pumps are expected to support the second-largest position of Europe in the global market.

Asia-Pacific is likely to witness the fastest medical vacuum systems market growth during the forecast period due to growing aging population coupled with the rising burden of chronic diseases, increasing per capita spending on healthcare, and rising adoption of medical vacuum equipment in healthcare facilities. For instance, as per data published by the World Health Organization (WHO), in 2016, 40.5 million (71% of total deaths), were happened due to non-communicable diseases (NCDs) worldwide and more than three quarters of NCD deaths — 31.5 million occurred in low- and middle-income countries with around 46% of deaths occurring below the age of 70 in these countries.

The Middle East & Africa has the least share of the global medical vacuum systems market. In addition, the major market share of the region would be held by the Middle East region due to the budding medical device industry and developing healthcare infrastructure in the Gulf Cooperation Council (GCC) countries.

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Medical Vacuum Systems Market Segmentation

The global medical vacuum systems market has been segmented into

• Product
• Technology
• Application
• End user
• Region

By product, the medical vacuum systems market has been segmented into

• Standalone vacuum systems
• Centralized vacuum systems
• Portable 
• Compact vacuum systems
• Accessories

On the basis of technology, the medical vacuum systems market has been divided into

• Dry claw vacuum pump technology
• Dry rotary vane technology
• Oil-sealed rotary vane technology
• Oil-sealed liquid ring technology
• Water-sealed liquid ring technology

Based on application, the market has been categorized into therapeutic applications, diagnostic, research, and pharmaceutical, and biotechnology manufacturing. The therapeutic applications segment is further categorized into wound care, dental, anesthesiology, and gynecology.

By end user, the medical vacuum systems market has been categorized into hospitals, clinics, and surgery centers, pharmaceutical and biotechnology industries, diagnostic laboratories, and research and academic institutes.

Medical Vacuum Systems Market Key Players

Some of the spearheading players in the global medical vacuum systems market are

• Olympus Corporation
• Atlas Copco AB
• ZOLL Medical Corporation
• Integra Biosciences AG
• Ohio Medical Corporation
• Precision Medical, Inc.
• Drägerwerk AG & Co. KGaA
• Busch Holding GmbH
• Medela Holding AG
• BeaconMedæs
• Gardner Denver, Inc.
• DEKKER Vacuum Technologies, Inc.
• Allied Healthcare Products, Inc.
• Air Techniques, Inc.

Brows More Healthcare Related Research Reports:

• Global Medical Suction Device Market Research Report – Forecast to 2027

• Microelectronic Medical Implants Market Research Report Forecast To 2022

 

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