The report “Medical Vacuum System Market by Product (Standalone, Centralized, Portable), Technology (Dry Claw, Oil Sealed Rotary Vane, Liquid Ring), Application (Diagnostic, Wound Care, GYN), End user (Pharmaceutical, Diagnostic Labs) – Global Forecast to 2024″, the global vacuum systems market is projected to reach USD 1.6 billion by 2024 from USD 1.1 billion in 2018, at a CAGR of 6.3 % during the forecast period.
The Factors such technological advancements in vacuum systems, stringent regulatory frameworks mandating the use of vacuum systems, the increasing number of target surgical procedures across major markets, and the rising number of Diagnostic Imaging procedures are driving the growth of the global medical vacuum systems market.
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Therapeutic applications dominate the medical vacuum system market
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.
Geographical View in-detailed:
North America accounted for the largest share of the medical vacuum systems market in 2018. The dominant position of this region in the medical vacuum systems industry is due to technology advancements; cleanroom mandates, manufacturing guidelines, and surgical protocols; increased number of target medical procedures and trauma cases; a growing number of end users; the rising number of diagnostic imaging procedures; and rising expenditure healthcare infrastructure in the country.
Global Key Leaders:
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 vacuum systems market.
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Atlas Copco AB (Sweden) is one of the leading companies in the field of medical vacuum systems and pumps. It develops, manufactures, and sells oil-lubricated rotary vane pumps, oil-sealed vacuum pumps, and other related accessories. Atlas Copco has strengthened its presence in the medical vacuum systems market through growth strategies such as product launches, acquisitions, and expansions. For instance, during 2015–2019 the company acquired many other firms in Germany, the US, and the UK for the enhancement of its vacuum pump business. Furthermore, in 2017, Atlas Copco also inaugurated a manufacturing plant in the US in order to increase the company’s productivity in this region. Through such strong business strategies, the company is expected to witness high growth in the market in the coming years.
Busch Holding GmBH (Germany) is one of the largest manufacturers of vacuum pumps, blowers, and compressors on a global scale. Its product range consists of vacuum and overpressure technology for all the industrial sectors worldwide. The company offers oil-lubricated rotary vane vacuum pumps, dry rotary vacuum pumps & compressors, dry rotary screw vacuum pumps, sealed rotary vane vacuum pumps, side-channel blowers, liquid ring vacuum pumps, dry rotary vane vacuum pumps, scroll vacuum pumps, and other related accessories. The company has strengthened its presence in the medical vacuum systems market through growth strategies such as product launches, and agreements.