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.
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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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About
Grand View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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