New Jersey, NJ, Aug. 28, 2019 (GLOBE NEWSWIRE) -- Growing geriatric population world over, technological progress in the vacuum systems, increasing number of diagnostic imaging procedures, regulatory frameworks mandating use of vacuum systems as well as rising number of target surgical procedures are driving the global medical vacuum system market. The global medical vaccum market is expected to grow from USD 1,134.89 Million in 2018 to USD 1,885.63 Million by 2026, at a CAGR of 6.55% during the forecast period 2019-2026, according to the new report published by Fior Markets.
Medical vacuum systems refer to the systems which are used to create a suction system to remove the unwanted fluids, and gases from laboratory and medical environments. These systems also provide a controlled framework through which medical professionals safeguard themselves from coming in contact with medically hazardous substances. The medical vacuum system is used for the purposes of draining the wounds, preparing assisted wound closures, lung and chest drainages, among others. The global rise in the incidence of chronic and infectious diseases, increase in geriatric population as well as growing adoption of the vacuums system are anticipated to boost the global medical vacuum system market over the forecast period.
Even though the factors such as technological advancements in the medical vacuum systems, rise in the number of target surgical procedures as well as growth of the diagnostic imaging procedures are driving the global medical vacuum system market, the high equipment cost as procedural limitations are expected to hold back the growth of the market over the forecast period.
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Key players in the global medical vacuum system market are Atlas Copco AB, Gardner Denver Holdings, Busch Holding GmbH, Drägerwerk AG & Co. KGaA, Asahi Kasei ZOLL Medical Corporation, Olympus Corporation, ConvaTec, INTEGRA Biosciences AG, Allied Healthcare Products Inc., Medela AG, Air Techniques, Laerdal Medical, Precision Medical, Inc., Medicop, Ohio Medical Corporation, Air Liquide, Amico Corp, BeaconMedaes, Gentec Corp., Ebara Corporation, and among others.
- There has been an increase in demand for the vaccum system which offers lower lifecycle costs, higher productivity, less energy consumption and easy maintenance. Thus, to fulfill this industry demand, the Atlas Copco AB in 2019, announced the launch of DHS 065-200 VSD+ dry screw vacuum pump. DHS 065-200 VSD+ is built for rapid cycling and continuous operation applications. It is truly clean, zero contamination dry vacuum pump that requires no water or oil cooling.
- There has been a growing demand for the medical vacuum system for removing the debris and infected tissues from the wounds. Thus, to fulfill this industry demand, the Misonix Inc. in 2016, announced the launch of SonicVac™. SonicVac addresses the need to disrupt and remove unhealthy cells, layer-by-layer, from the wound allowing for maximum preservation of surrounding healthy tissue. This gives the patient’s wound the best opportunity to heal.
The standalone segment had a market value of USD 490.04 million in 2018.
The product segment is divided into standalone, centralized, and portable. Due to widespread acceptance of standalone systems among dental clinics and research labs, the standalone systems led the global medical vacuum system market with USD 490.04 million revenue in 2018.
The water sealed liquid ring segment is anticipated to grow at a CAGR of 8.63% in 2019-2026
The technology is segmented into dry claw, oil sealed rotary vane, dry rotary vane, oil-sealed liquid ring, and water-sealed liquid ring. The water sealed liquid ring technology segment is expected to grow at the highest CAGR of 8.63% over the forecast period. This increased growth can be attributed to its low maintenance and operation costs properties. However, the oil sealed liquid ring technology segment held a robust market share in 2018, owing to its widespread use in the hospitals and lab cleanrooms.
The therapeutic application segment had a market value of USD 395.17 million in 2018
The application segment is categorized into pharma-biotech manufacturing, therapeutic applications, diagnostic applications, and research applications. Owing to the factors such as rising prevalence of dental ailments, growing use of NPWT for diabetic ulcer management, and the increasing number of targeted medical procedures, the therapeutic application segment led the global medical vacuum system market with USD 395.17 million revenue in 2018.
The hospitals, surgical centers, and ambulatory care centers led the market with a 31.47% share of market revenue in 2018.
End user is segmented into hospitals, surgical centers, and ambulatory care centers; diagnostic laboratories, pharmaceutical and biotechnology manufacturers, and research laboratories and academic institutes. The hospitals, surgical centers, and ambulatory care centers segment dominated the global medical vacuum system market with a 31.47% share of market revenue in 2018. Unabated demand for the vacuum systems from the medical facilities, technological advancements such as device miniaturization and the procedural efficiency of vacuum systems, were some of the factors behind this increased demand.
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Regional Segment Analysis of the Medical Vaccum System Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region emerged as the largest market for the medical vacuum system with a 39.41% share of market revenue in 2018. Presence of well-developed healthcare industry as well as growing end user base and implementation of strict regulatory norms for cleanroom maintenance, manufacturing guidelines and surgical protocols, led the North America region to lead the global demand for the medical vacuum system in 2018. The Asia Pacific region is projected to grow at the highest CAGR of 8.31% over the forecast period. This increased growth rate can be ascribed to the factors such as rapid improvement in the standards of the healthcare facilities in the region coupled with the increasing awareness about the use of vacuum systems and increasing prevalence of chronic pulmonary diseases.
About the report:
The global medical vacuum system market is analysed on the basis of value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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