Medical Vacuum Systems Market Size
Medical vacuum systems market to be fueled by high demand for suction equipment in the healthcare sector
The medical vacuum systems market trends are expected to be rather transformative over the forecast years, driven by technological advancements as well as increasing adoption of medical vacuum pumps for effective patient care. Medical vacuum, in a hospital, facilitates suction and evacuation procedures to get rid of unwanted fluids and gases off laboratories and medical environments. Suctioning is an important part of patient care and in some cases a life-saving procedure. The vacuum created in the pump room aids a safer, cleaner, faster surgery and enables patients to breathe more easily.
U.S. Medical Vacuum Systems Market, By Product Type, 2018 & 2025 (USD Million)
The increasing prevalence of diseases that cause severe wounds will be a huge driver for the medical vacuum pump systems market in the coming years. Owing to the surging espousal of sedentary lifestyle and the rising obesity rates, cases of type 2 diabetes are estimated to increase across the world. Advanced stages of diabetes and some autoimmune diseases tend to cause wounds that barely heal, which will require treatments using medical vacuum pumps. Therefore, the increasing prevalence of chronic diseases will be a significant driver fueling medical vacuum systems market outlook.
An upsurge in the global obesity rate will also substantially fuel medical vacuum systems market. According to the World Population Review, the number of obese people in the world has reached approximately 2.1 billion, accounting for almost 30% of the global population. There are numerous health risks attached to obesity, which persuade obese individuals to pursue liposuction treatments. Products like medical vacuum pumps find excessive use in liposuction procedures, which will further proliferate market growth over the ensuing years.
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In terms of the product spectrum, the standalone vacuum systems segment is projected to accumulate major returns in the foreseeable years. Segmental development can be attributed to the burgeoning demand for oral surgeries for wisdom tooth removals, placing dental implants or fixing tooth loss or impacted tooth. The increasing pervasiveness of oral diseases will mainly drive growth for standalone medical vacuum systems market.
The imposition of strict mandates to regularize the use of medical vacuum system will also positively influence medical vacuum systems market share. Initiatives implemented by government bodies and healthcare organizations that encourage the use of medical vacuum systems in certain areas of a medical procedure will further contribute toward medical vacuum systems industry size.
Centralized vacuum system segment is also likely to depict considerable growth, attributable to its numerous benefits. Models like Advantage-D are completely oil-less, dry central vacuum systems for medical and surgical applications that need operating vacuum levels with atmosphere as high as 27 in. Hg. Moreover, oil-flooded medical central vacuum systems are compact and can be fitted through a 36” doorway. These advantages will favor the centralized medical vacuum systems demand in the coming years.
Effective growth strategies implemented by industry majors operating in the competitive spectrum would also favor market growth over the coming years. For example, Atlas Copco recently acquired Houston-based MGES Inc., which sells and completes installations of several types of equipment including vacuum systems. The acquisition will expand local support to healthcare and laboratory customers within the Texas area and possibly boost the adoption of medical vacuum systems.
Based on regional growth, North America medical vacuum market is estimated to witness a high CAGR between the years 2019 to 2025. Data by the U.S. Federal Government states that Americans spent $3.65 trillion on healthcare in 2018. Moreover, another report by Health Affairs projects an average growth rate of 5.5% in healthcare spending by 2027. A rise in the region’s healthcare expenditure could have a positive influence on the medical vacuum industry share. Also, the region boasts strong healthcare infrastructure and the presence of well-established healthcare centers and hospitals, which will further accelerate market growth.
Driven by the high prevalence of chronic ailments among its growing elderly population, the Asia Pacific medical vacuum systems market size is poised to garner commendable returns in the foreseeable years. Furthermore, the government aims to enhance healthcare infrastructure within nations like India and China, further boosting medical vacuum system demand in the Asia Pacific Region.
Increasing demand from hospital and healthcare institutions is constantly driving manufacturers to the edge of innovation. Companies like Busch are offering customized vacuum and air supply systems that not only meet safety requirements but also the technical and economic requirements of a medical center. The market is flooded with a range of centralized and decentralized medical vacuum systems for laboratories, hospitals, and dental clinics, while industry majors continue to explore, innovate, and launch new products, thus augmenting the business sphere.
According to the latest research report by Global Market Insights, Inc., medical vacuum systems market is anticipated to be worth more than $2 billion by 2025.
Author Name : Krithika Krishnan