(PharmaNewsWire.Com, May 20, 2020 ) [158 Pages Report] The Medical Vacuum System Market is estimated to grow at a CAGR of 6.3% to reach USD 1.6 billion by 2024 from USD 1.1 billion in 2018.
This study involved four major activities in estimating the current size of the global medical vacuum systems market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and the parent market.
Secondary Research:
Secondary research was conducted to obtain key information about market classification and segmentation, geographical scenario, key developments undertaken by major market players, and the identification of key industry trends. The secondary sources used for this study include annual reports, press releases, and investor presentations of companies; white papers; certified publications; and articles from recognized websites, databases, and directories.
Primary Research:
Extensive primary research was conducted after acquiring a preliminary understanding of the global medical vacuum systems market scenario through secondary research. Primary interviews were conducted with market experts from both the demand-side (such as doctors, and nursing staff from hospitals, surgical centers, ambulatory centers, as well as researchers and technicians from diagnostic laboratories, SNFs, and POLs, pharmaceutical & biotechnology manufacturers, research laboratories, and academic institutes) and supply-side respondents (such as medical vacuum pump and system manufacturers, suppliers, channel partners, and distributors)
By product type, standalone vacuum systems account for the largest share of the medical vacuum system market
On the basis of product type, the market is segmented into standalone vacuum systems centralized vacuum systems, portable vacuum systems, and accessories. The standalone vacuum systems segment is expected to hold the largest share of the market mainly due to the huge end-user base for compact/standalone products, high adoption of these systems among dental clinics and research labs, and their advantages in the aforementioned settings.
Therapeutic applications dominate the medical vacuum system market, by application
On the basis of application, the global medical vacuum systems industry is segmented into pharma-biotech manufacturing, therapeutic applications, diagnostic applications, and research applications. The therapeutic applications segment accounted for the largest share of the market in 2018 due to the rising incidence of dental caries and other periodontal diseases, increasing use of NPWT for diabetic ulcer management, and the increasing number of target medical procedures across major markets.
North America accounts for the largest share of the medical vacuum systems market
This report covers the medical vacuum systems market across five major geographies North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to command the largest share of the medical vacuum systems market mainly due to stringent regulatory norms for cleanroom maintenance, manufacturing guidelines and surgical protocols, technological advancement, the rising number of target surgical procedures, a growing end-user base, and increasing expenditure healthcare infrastructure in the region.
Key Market Players:
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 the major players operating in the medical vacuum systems market.
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