The global medical vacuum system market is anticipated to grow with a CAGR of nearly 6.1% during the forecast period. Increasing utilization of vacuum systems in numerous applications including infectious and chronic disease, wound care and periodontal treatment is anticipated to drive the market growth over the forecast period.
Growing demand for technologically advanced and superior quality medical vacuums for installation in hospital settings will favor industry growth. Technology advancement such as vacuum systems with integrated NFPA 99 requirements is expected to have a positive impact on the demand for medical vacuum systems. Moreover, several advantages of high-end medical vacuum systems including safe removal of undesirable fluids and gases to ensure sterility during surgical intervention will render positive impact on the industry growth. However, high cost of medical vacuum systems and difficulty in maintaining the device may hinder the growth of the global medical vacuum systems market.
Key Market Trends
Wound Care Segment Dominates the Market and is Expected to Continue the Same during the Forecast Period
Wound care is expected to dominate of the global medical vacuum systems market through the forecast period. Rising incidence of localized injury to the skin and underlying tissue results in conditions, such as pressure ulcers, bed sores, and diabetic foot which is acting as a high impact rendering factor for this segment’s growth. As per the study published - 'The humanistic and economic burden of chronic wounds', chronic wounds affect over 5.7 million patients in the U.S. alone and are estimated to cost USD 20 billion annually, thus impacting the segment growth positively.
Vacuum device decreases air pressure on the wound. This can help the wound heal more quickly by draining excess fluid from the wound and increasing blood flow to your wound. Advancements in vacuum systems deliver better relief to patients and hence, act as high impact rendering drivers for the segment.
The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
North america dominates the market due to the sophisticated healthcare system, favorable reimbursement system, and increased patient awareness levels about infectious disease is poised for growth in this region. In addition, high healthcare spending in this region has contributed to the further development of the healthcare sector. Furthermore, the increased utility of the products related to injury care is nurturing the growth of this vertical.
Asia Pacific is anticipated to witness grow with a lucrative rate over the forecast period. The target population comprising individuals with periodontal disorders, diabetic foot, pressure ulcers, and infections is on the rise in these developing regions. This provides avenues for players in this vertical to carry out campaigns and awareness programs with regards to disease treatment thereby increasing product penetration in the regional verticals.
The market for medical vacuum system is highly competitive and consists of the global as well as local players. Due to the technological advancements, small and mid-sized companies are focusing on market penetration to grab the market share. Some of the companies which are currently present in the market are Atlas Copco, Gardner Denver, Air Techniques, Allied Healthcare Products, Busch Group, ConvaTec, Drägerwerk, INTEGRA Biosciences, Laerdal Medical, Medela and Medicop. New product launches, collaborations, mergers, and acquisitions are the key initiatives undertaken by the leading players in this vertical to sustain the competition. For instance, In February 2018, Gardner Denver acquired Runtech systems to expand the technology to broader flow control, vacuum and pressure systems, and services to drive future profitable growth.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Prevalence of Chronic and Infectious Diseases
4.2.2 Chronic Ailments Awareness Programs and Services
4.2.3 Increasing Adoption of High-end Technologies in Patient Care
4.3 Market Restraints
4.3.1 High Cost of Medical Vacuum Systems
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Standalone Vacuum Systems
5.1.2 Centralized Vacuum Systems
5.1.3 Portable/Compact Vacuum Systems
5.2 By Application
5.2.1 Wound Care
5.3 By End Use
5.4.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.4.5 South America
220.127.116.11 Rest of South America
6.1.1 Air Techniques
6.1.2 Allied Healthcare Products Inc.
6.1.3 Atlas Copco AB
6.1.4 Busch Group
6.1.5 ConvaTec Inc.
6.1.6 Drgerwerk AG & Co. KGaA
6.1.8 Gardner Denver, Inc.
6.1.9 INTEGRA Biosciences AG.
6.1.10 Laerdal Medical
6.1.11 Medela AG
6.1.13 Olympus Corporation
A selection of companies mentioned in this report includes:
- Air Techniques
- Allied Healthcare Products Inc.
- Atlas Copco AB
- Busch Group
- ConvaTec Inc.
- Drgerwerk AG & Co. KGaA
- Gardner Denver, Inc.
- INTEGRA Biosciences AG.
- Laerdal Medical
- Medela AG
- Olympus Corporation