Medical Suction Devices Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, China, India, Japan, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1833
Medical Suction Devices Market size is projected to experience considerable growth from 2017 to 2024.
Rising prevalence of chronic diseases, high adoption rate of home healthcare and growing ageing population are the primary factors stimulating medical suction devices market growth. As per the World Health Organization, in 2015, about 3 million people died of chronic obstructive pulmonary disease (COPD) globally. Medical suction devices have widespread clinical applications as they are utilized for eliminating unwanted substances from body such as removal of blood from skull post intracranial hemorrhage, clearing airway of saliva, blood, and other secretions.
Home healthcare devices are durable and easy to operate. The rise in use of portable home healthcare devices will fuel the product demand. The U.S. government has launched a program called Health people 2020 to make individuals aware about the respiratory diseases such as COPD. Government initiatives undertaken to reduce the burden of respiratory diseases will further contribute to the industry growth.
Medicines and Healthcare products Regulatory Agency (MHRA), the U.S. Food and Drug Administration and Central Drugs Standard Control Organization provides favorable regulatory frameworks to support the product use. Limited reimbursement policies in case of home healthcare devices may hinder medical suction devices market growth.
Non-portable suction devices will dominate the industry during the forecast period owing to the rising number of surgeries. Moreover, the sales of portable suction devices are expected to grow rapidly due to ease of use and cost-effective prices. Electrical vacuum system will foresee lucrative growth in the coming years owing to its rising use in hospital surgeries. Hospitals and clinics segment will lead owing to the availability of latest technology and expertise in healthcare facilities.
The presence of major players such as Precision Medical and well-established healthcare infrastructure are the driving factors for the North America medical suction devices market. Moreover, the approval from regulatory body U.S. FDA will further fuel the growth. Asia Pacific medical suction devices market will grow rapidly during the forecast period owing to rising health awareness and prevalence of chronic diseases in the region. According to the WHO statistics, 11% of total deaths in India are due to lung diseases. This depicts the large patient pool in the country.
Europe medical suction devices market is expected to witness significant growth owing to increasing prevalence of respiratory diseases, growing geriatric population and availability of well-established healthcare system. As per the European Respiratory Society 2015 report, 10 billion people were accounted to be suffering from Asthma in the region.
The increasing healthcare expenditure in the region has stimulated the growth of more economical devices such as home healthcare portable devices. In Brazil, tax funded programs such as unified health system has provided people with medical coverage. These trends in government initiatives will stimulate the region market growth. According to the Institute for health metrics and evaluation Mexico, in 2015, chronic obstructive pulmonary disease accounted for 30% of total deaths in country. Saudi Arabia and South Africa are major marketplaces in MEA providing immense growth opportunities. Favorable healthcare policies and well-established healthcare infrastructure are the key drivers for the regional growth.
Some of the players operating in the medical suction devices market include Precision Medical, Amsino International, Drive Medical, Allied Healthcare Products, Welch Vacuum, Integra Biosciences, ATMOS Medizin Technik, SSCOR, ZOLL Medical, Labconco, Olympus, and Medela Holding. Companies focus on innovation and cost reduction to ensure market sustainability. Major industry players implement growth strategies through partnerships and collaborations in order to expand overall business share.
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