The medical suction devices industry is subject to witness a substantial growth due to the rise in number of chronic respiratory diseases and increase in number of surgical procedures conducted each years like vacuum assisted deliveries. Shifting preference towards adoption of suction devices during surgical procedures by clinicians, surgeons and healthcare professionals are expected to drive the growth of medical suction device market over the forecast period.
Additionally, swift decline in cost of medical suction devices and easy availability are expected to offer affordable surgical procedures for patients, thus propelling market growth as well. Globally, the medical suction device industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
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Growing geriatric population and increasing investment by regional government for healthcare infrastructural development are anticipated to foster market growth over the forecast period. The aging population is likely susceptible towards chronic respiratory conditions, thus propelling market demand for compact and portable suction devices, which are used in home care settings. However, the limited availability in the rural areas of developing economies due to lower market penetration is one of key challenge for industry growth over the forecast period. In addition, lack of reimbursement coverage for medical suction devices that are adopted in home care sector is restraining market growth to a certain extent.
Growing popularity of the portable medical suction devices is attributed to factors such as user-friendly interface and compact designs. Other advantages of portable medical section devices include point-of-care use and decline in the demand of skilled professionals to operate these devices. These factors are expected to aggravate market demand for portable medical suction devices over the next seven years.
Electrically powered aspirators are gaining traction among clinicians and various healthcare professionals owing to the cost efficiency and superior performance. In addition, increasing awareness among general population in regards to benefits of these devices are predicted to fuel market demand in the upcoming years. The availability of a broad range of products is expected to favor market demand for electrically powered aspirators over the forecast period as well.
The medical suction devices market is broadly categorized into four major segments based on the application type such as respiratory, gastric, wound suction and delivery room. The respiratory disorders sector is considered as one of the fastest growing segment in the with substantial revenue generation in the last few years. Growing popularity of medical suction devices in the respiratory disorders segment is attributed to the increasing prevalence of chronic respiratory disorders. The delivery room segment has also witnessed substantial growth owing to the growing preference towards medical suction devices by surgeons and healthcare professionals.
The medical suction devices industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in medicine & pharmaceutical sector, increase in research & development activities in the region, and existence of well-established healthcare infrastructure in the region.
Asia-Pacific region is predicted to hold major market share in the medical suction devices with massive growth in forecast period. Countries such as India, China, Japan and Singapore are leading the Asia-Pacific market with improved healthcare infrastructure in the region, increasing penetration of medical facilities into rural market, growing awareness among general population regarding numerous benefits of medical suction devices, increasing disposable income, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the medical suction device market are Allied Healthcare Products, Inc., Precision Medical, Inc., Drive Medical, Inc., INTEGRA Biosciences AG, Medicop, Inc., SSCOR, Inc., ATMOS MedizinTechnik GmbH & Co.,ZOLL Medical Co., Welch Vacuum, Inc.,Laerdal Medical Co., Labconco Co., Amsino International Inc., and Olympus Co.
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