Medical Vacuum System Market Scope
The medical vacuum system is defined as the vacuum systems which is used to offer suction to, gases from laboratory, unwanted fluids as well as medical environments. It is widely used in assisted wound closures, draining wounds and preparing assisted wound closures. Growing incidence of dental caries and other periodontal diseases, increasing the use of NPWT for diabetic ulcer management, and others are propelling the growth of the market.
According to AMA, the Global Medical Vacuum System market is expected to see growth rate of 6.2%
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Medical Vacuum System market throughout the predicted period.
Atlas Copco AB (Sweden), Gardner Denver Holdings (United States), Busch Holding GmbH (Germany), Drägerwerk AG & Co. KGaA (Germany), Asahi Kasei ZOLL Medical Corporation (Japan), Olympus Corporation (Japan), ConvaTec (United Kingdom), Integra Holdings (United States), Allied Healthcare Products Inc. (United States) and Medela AG (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Air Techniques (United States), Laerdal Medical (Norway), Precision Medical, Inc. (United States), Medicop (Slovenia) and Ohio Medical Corporation (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Medical Vacuum System market by Type (Positive Displacement Vacuum Pumps, Momentum Transfer Vacuum Pumps and Entrapment Vacuum Pumps) and Region with country level break-up.
On the basis of geography, the market of Medical Vacuum System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
In March 2018, the Atlas Copco AB (Sweden) Company has acquired Walker Filtration (United Kingdom) Company for more than USD 38.68 million for enhancing its vacuum business. Hence, this acquisition will help in strengthening the position of the company in the southeast.
In November 2018, the Busch LLC (Germany) and Pfeiffer Vacuum Technology AG (Germany) has entered into a strategic cooperation agreement in order to improve segments such as R&D developments, sales & services and improve the vacuum product line. Therefore, it will affect the growth of the market in the future. and In October 2018, the ConvaTec (United Kingdom) Company has received the Food and Drug Administration 510(k) Clearance for its avelle negative pressure wound therapy system. Hence, this approval has helped in the expansion of the company in the United States.
Market Trend
- Increasing Spending On Healthcare Structure Worldwide
Market Drivers
- Stringent Regulatory Frameworks Mandating the Use of Vacuum Systems
- Increasing Number of Target Surgical Procedures across Major Markets
- Rising Number of Diagnostic Imaging Procedures
Opportunities
- Increasing Demand from Emerging Economies such as China and India
- Government Initiatives to Expand the Medical Vacuum System Market
- Strong Opportunity in Diagnostic Labs, owing to the Increasing Number of Diagnostic Imaging Procedures Globally
Restraints
- Issue related to the High Cost of Medical Vacuum System Products
Challenges
- Lack of awareness of Medical Vacuum System in Developing Region
Key Target Audience
Manufacturers of Medical Vacuum System, Traders, Distributors, and Suppliers of Medical Vacuum System, Raw Material Suppliers, Government and Research Organizations and Industry Associations