Medical Suction Devices Market Analysis By Portability (Portable, Non-portable), By Vacuum Systems (Manual, Electrically Powered, Venturi), By End-use (Respiratory, Gastric, Wound Section, Delivery rooms, Operative Field, Coronary Care, Anesthetics) And Segment Forecasts To 2024
The global medical suction devices market is expected to reach USD 1.04 billion by 2024, according to a new report by Grand View Research. The global medical suction devices market is expected to grow swiftly owing to the increasing prevalence of chronic respiratory diseases, such as chronic obstructive pulmonary diseases, asthma, and lung cancer. Additionally, the market is growing rapidly due mainly to the increasing adoption of suction pumps in the point-of-care facilities. Moreover, the availability of compact suction devices has fostered the usage of these devices in ambulatory and emergency centers.
The government bodies including Ministry of Health and Family Welfare (MOHFW), Central Drugs Standard Control Organization (CDSCO), and Association of Indian Medical Device Industry (AIMED) provide the medical devices sector with a regulatory structure to promote indigenous production. Such regulations are positively impacting the market. Moreover, the increasing number of collaborations undertaken by companies, such as Drive Medical, Olympus Corporation, Laerdal Medical, with the aim of introducing technologically-advanced and improved devices is further boosting the growth of the market.
However, the lack of reimbursement coverage for the homecare suction devices and the high-cost of the wall-mounted devices are some of the factors impeding the growth of the market.
Some of the key players in this market include Allied Healthcare Products, Inc., Precision Medical, Inc., Drive Medical, INTEGRA Biosciences AG, Medicop, Inc., SSCOR, Inc., ATMOS MedizinTechnik GmbH & Co. KG, ZOLL Medical Corporation, Welch Vacuum, Laerdal Medical, Labconco Corporation, Amsino International Inc., and Olympus Corporation.
Further key findings from the study suggest:
The non-portable segment is anticipated witness lucrative growth during the forecast period owing to the increasing number of surgical procedures and the high price of the devices. As a result, this segment is projected to grow at the highest CAGR from 2016 to 2024.
The upsurge in the number of hospitals, clinics, and other healthcare facilities is propelling the demand for non-portable aspiration devices
The electrically powered vacuum systems segment captured the largest market share in 2015.The large market share of the segment was attributed to the widespread awareness and adoption of these devices in surgical settings.
The portable segment is expected to show rapid growth during the forecast period owing to the rising adoption of home healthcare services where portable and user-friendly medical devices are in demand
North America captured the largest market share of around 30% in 2015. Some factors contributing to the dominance of the segment include the presence of well-established healthcare infrastructure, existence of the leading market players, and the easily attainable approval for the class I devices by the U.S. Food and Drug Administration (FDA)
Asia Pacific is identified as the fastest growing market for medical suction devices. The factors including a large number of untapped customers, the growing trends in the adoption of the technically-advanced devices, and the expected rise in the target patient population are anticipated to drive the growth of the market.
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