Medical Vacuum System Market Worth $1.6 billion – Analysis of Industry Segments and Recent Developments

PUNE, India, 2021-Feb-15 — /EPR Network/ —

Major Growth Boosting Factors: The adoption of medical vacuum systems is growing across major healthcare markets. This trend is further supported by 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.

Revenue Growth Opportunities: The Medical Vacuum System Market is estimated to grow at a CAGR of 6.3% to reach USD 1.6 billion by 2024

Recent Developments:

• In November 2018, Busch LLC (Germany) and Pfeiffer Vacuum Technology AG (Germany) entered into a strategic cooperation agreement in order to enhance segments such as sales & services, R&D developments, and improve the vacuum product line.
• In October 2018, ConvaTec (UK) received the US FDA 510(k) Clearance for its Avelle Negative Pressure Wound Therapy System.
• In March 2018, Atlas Copco AB (Sweden) acquired Walker Filtration for USD 38.68 million for enhancing its vacuum business.

Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=150008017

By 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.

On the basis of product type,

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.

By end user,

The Medical Vacuum Systems Market is segmented into hospitals, surgical centers, and ambulatory care centers; diagnostic laboratories; pharmaceutical and biotechnology manufacturers; and research laboratories and academic institutes. Hospitals, surgical centers, and ambulatory care centers accounted for the largest share of this market, primarily due to the high demand for vacuum systems and a growing number of target procedures conducted annually. This, in turn, is attributed to technological advancements such as device miniaturization and the procedural efficiency of vacuum systems in this application area.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=150008017

Geographical Scenario:

The 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 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.

Global 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 some major players in the global medical vacuum systems market.