The Global Medical Vacuum System Market is projected to reach USD 1.6 billion by 2024 from USD 1.1 billion in 2018, at a CAGR of 6.3 % during the forecast period.
The 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 to 2024”.
Market Estimation Methodology:
- A detailed market estimation approach was followed to estimate and validate the size of the global medical vacuum systems market and other dependent submarkets.
- The key players in the global medical vacuum systems market were identified through secondary research, and their global market shares were determined through primary and secondary research.
- The research methodology includes the study of the annual and quarterly financial reports of top market players as well as interviews with industry experts to gather key insights on various market segments and subsegments.
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By product type, standalone vacuum systems account for the largest share of the medical vacuum system market
On the basis of product type, the market is segmented into standalone vacuum systems centralized vacuum systems, portable vacuum systems, and accessories. The standalone vacuum systems segment is expected to hold the largest share of the market mainly due to the huge end-user base for compact/standalone products, high adoption of these systems among dental clinics and research labs, and their advantages in the aforementioned settings.
Therapeutic applications dominate the medical vacuum system market, by application
On the basis of application, the global medical vacuum systems industry is segmented into pharma-biotech manufacturing, therapeutic applications, diagnostic applications, and research applications. The therapeutic applications segment accounted for the largest share of the market in 2018 due to the rising incidence of dental caries and other periodontal diseases, increasing use of NPWT for diabetic ulcer management, and the increasing number of target medical procedures across major markets.
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North America accounts for the largest share of the medical vacuum systems market
This report covers the medical vacuum systems market across five major geographies North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to command the largest share of the medical vacuum systems market mainly due to stringent regulatory norms for cleanroom maintenance, manufacturing guidelines and surgical protocols, technological advancement, the rising number of target surgical procedures, a growing end-user base, and increasing expenditure healthcare infrastructure in the region.
Key Market Players:
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 the major players operating in the medical vacuum systems market.