According to the new market research report “Medical Vacuum System Market by Product (Standalone, Centralized, Portable), Technology (Dry Claw, Oil Sealed Rotary Vane, Liquid Ring), Application (Diagnostic, Wound Care, GYN), End user (Pharmaceutical, Diagnostic Labs) – Global Forecast” published by MarketsandMarkets™.
Revenue Growth Opportunities and Growth Drivers?
The Medical Vacuum System Market is estimated to grow at a CAGR of 6.3% to reach USD 1.6 billion.
Growth Boosting Factors:
- Technological Advancements in Vacuum Systems
- Stringent Regulatory Frameworks Mandating the Use of Vacuum Systems
- Increasing Number of Target Surgical Procedures Across Major Markets
- Rising Number of Diagnostic Imaging Procedures
- In November 2018, Busch LLC (Germany) and Pfeiffer Vacuum Technology AG (Germany) entered into a strategic cooperation agreement in order to enhance segments such as sales & services, R&D developments, and improve the vacuum product line.
- In October 2018, ConvaTec (UK) received the US FDA 510(k) Clearance for its Avelle Negative Pressure Wound Therapy System.
- In March 2018, Atlas Copco AB (Sweden) acquired Walker Filtration for USD 38.68 million for enhancing its vacuum business.
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Market Segmentation in Depth:
On the basis of product type, the medical vacuum systems market is segmented into standalone vacuum systems, centralized vacuum systems, portable vacuum systems, and accessories. The standalone vacuum systems segment accounted for the largest share of the market in 2018. The large share of this segment can be attributed to the large end-user base for compact/standalone products, their technical advantages, and significant adoption among dental clinics and research labs.
On the basis of application, the medical vacuum systems market is segmented into pharma-biotech manufacturing, therapeutic applications, diagnostic applications, and research applications. Therapeutic applications are further segmented into dental, wound care, anesthesiology, and gynecology applications. The therapeutic applications segment is expected to register the highest growth rate due to the rising incidence of dental caries and other periodontal diseases, increasing use of NPWT for diabetic ulcers, and the increasing number of target medical procedures across major markets.
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Leading Key Players in the Worldwide Industry:
Atlas Copco AB (Sweden), Gardner Denver Holdings (US), Busch Holding GmbH (Germany), Drägerwerk AG & Co. KGaA (Germany), Asahi Kasei ZOLL Medical Corporation (Japan), Olympus Corporation (Japan), ConvaTec (UK), INTEGRA Holdings (US), Allied Healthcare Products Inc. (US), Medela AG (Switzerland), Air Techniques (US), Laerdal Medical (Norway), Precision Medical, Inc. (US), Medicop (Slovenia), and Ohio Medical Corporation (US) are some major players in the global market.
Geographical Regions Mapped in Report:
North America accounted for the largest share of the medical vacuum system market in 2018. The dominant position of this region in the medical vacuum systems industry is due to technology advancements; cleanroom mandates, manufacturing guidelines, and surgical protocols; increased number of target medical procedures and trauma cases; a growing number of end users; the rising number of diagnostic imaging procedures; and rising expenditure healthcare infrastructure in the country.