Medical Vacuum Systems Market to be Worth USD 1.6 Billion by 2024

The global medical vacuum systems market is projected to reach USD 1.6 billion by 2024 from USD 1.1 billion in 2018, at a CAGR of 6.3 percent. The adoption of medical vacuum systems is growing across major healthcare markets. This trend is further supported by technological advancements in vacuum systems, stringent regulatory frameworks mandating the use of vacuum systems, the increasing number of target surgical procedures across major markets, and the rising number of diagnostic imaging procedures.

The standalone vacuum systems segment is expected to account for the largest share of the medical vacuum systems market, by product type, in 2018

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 medical vacuum systems 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.

The therapeutic applications segment is expected to register the highest growth rate in the medical vacuum systems market, by application

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.

North America dominated the global medical vacuum systems market in 2018

North America accounted for the largest share of the medical vacuum systems 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.

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 medical vacuum systems market. – MarketsandMarkets

Share this:

Related Post

Stay Updated on Medical Equipment and Devices industry.
Receive our Daily Newsletter.