13th February 2020 – According to new research study available with Million Insights, market
report on Medical Suction Devices is foretold to provide a
robust support for industry players to lay a solid foundation for their
business growth. It includes a comprehensive evaluation of the market’s growth
status and risk. In addition, it provides detail market variables, trends, key
opportunities, new entrants & competitors.
The global Medical Suction Devices
Market is expected to value at USD 1.04 billion by 2024. The medical suction
devices industry is subject to witness a substantial growth due to the rise in
number of chronic respiratory diseases and increase in number of surgical
procedures conducted each years like vacuum assisted deliveries. Shifting
preference towards adoption of suction devices during surgical procedures by
clinicians, surgeons and healthcare professionals are expected to drive the
growth of medical suction device market over the forecast period.
Additionally, swift decline in cost of
medical suction devices and easy availability are expected to offer affordable
surgical procedures for patients, thus propelling market growth as well.
Globally, the medical suction device industry is predicted to grow at higher
CAGR in the forecast period, providing numerous opportunities for market
players to invest for research and development in the market.
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Growing geriatric population and
increasing investment by regional government for healthcare infrastructural
development are anticipated to foster market growth over the forecast period.
The aging population is likely susceptible towards chronic respiratory
conditions, thus propelling market demand for compact and portable suction
devices, which are used in home care settings. However, the limited
availability in the rural areas of developing economies due to lower market
penetration is one of key challenge for industry growth over the forecast
period. In addition, lack of reimbursement coverage for medical suction devices
that are adopted in home care sector is restraining market growth to a certain
extent.
Growing popularity of the portable
medical suction devices is attributed to factors such as user-friendly
interface and compact designs. Other advantages of portable medical section
devices include point-of-care use and decline in the demand of skilled
professionals to operate these devices. These factors are expected to aggravate
market demand for portable medical suction devices over the next seven years.
Electrically powered aspirators are
gaining traction among clinicians and various healthcare professionals owing to
the cost efficiency and superior performance. In addition, increasing awareness
among general population in regards to benefits of these devices are predicted
to fuel market demand in the upcoming years. The availability of a broad range
of products is expected to favor market demand for electrically powered
aspirators over the forecast period as well.
The medical suction devices market is
broadly categorized into four major segments based on the application type such
as respiratory, gastric, wound suction and delivery room. The respiratory
disorders sector is considered as one of the fastest growing segment in the
with substantial revenue generation in the last few years. Growing popularity
of medical suction devices in the respiratory disorders segment is attributed
to the increasing prevalence of chronic respiratory disorders. The delivery
room segment has also witnessed substantial growth owing to the growing
preference towards medical suction devices by surgeons and healthcare
professionals.
The medical suction devices industry is
divided by region as North America, Europe, Asia-Pacific, Latin America and
Africa. North America has shown major growth in recent years owing to the rise
in implementation of latest technologies in medicine & pharmaceutical
sector, increase in research & development activities in the region, and
existence of well-established healthcare infrastructure in the region.
Asia-Pacific region is predicted to hold
major market share in the medical suction devices with massive growth in
forecast period. Countries such as India, China, Japan and Singapore are
leading the Asia-Pacific market with improved healthcare infrastructure in the
region, increasing penetration of medical facilities into rural market, growing
awareness among general population regarding numerous benefits of medical
suction devices, increasing disposable income, and significant investment by
leading industry players considering potential growth opportunities in the
region.
The key players in the medical suction
device market are Allied Healthcare Products, Inc., Precision Medical, Inc.,
Drive Medical, Inc., INTEGRA Biosciences AG, Medicop, Inc., SSCOR, Inc., ATMOS
MedizinTechnik GmbH & Co.,ZOLL Medical Co., Welch Vacuum, Inc.,Laerdal
Medical Co., Labconco Co., Amsino International Inc., and Olympus Co.
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