The global medical suction devices market was valued at USD 714.8 million in 2015. The growth is attributed to the prevalence of chronic respiratory diseases and the increase in the number of procedures, such as in vacuum assisted deliveries, where suction devices are majorly used. In addition, the decreasing price is making these devices affordable thereby advancing the penetration of these products.
The medical suction devices market is expected to show swift growth during the forecast period. The factors, such as the growing aging population susceptible to chronic respiratory conditions are expected to bolster growth over the forecast period. In addition, the geriatric population is fueling the demand for compact and portable suction devices that can be used in home care settings. However, the limited reimbursement coverage for these devices that are approved for home care use is the major factor impeding the growth in the demand for the medical suction devices.
Medical Suction Devices Market, by Region, 2014 - 2024 (USD Million)
The portable devices segment is expected to show the fastest growth during the forecast period. The user-friendly, compact designs offer advantages including point-of-care use and eliminate the requirement of skilled professionals to operate these devices. Such advantages are propelling the demand for portable devices.
Electrically powered aspirators accounted for the largest revenue share in 2015. The widespread awareness regarding electrically-powered aspirators coupled with the availability of a wide range of products resulted in the large revenue share. As a result, the segment is expected to maintain its dominance throughout the forecast period.
Based on portability, the medical suction devices are segmented into portable and non-portable segments. The non-portable devices segment accounted for the largest share in 2015. The high-cost of the non-portable devices is the primary factor leading to a larger revenue share. In addition, the surge in the number of hospitals and clinics is further propelling the demand for the non-portable aspirators.
The portable devices segment is expected to show the fastest growth owing to the escalating adoption of these devices in the home healthcare services. In addition, the increasing number of emergency and ambulatory care services is contributing to the growth of the portable devices segment.
Electrically powered aspirators accounted for the largest revenue among other vacuum systems. The availability of a wide variety of electrically-powered devices suitable for various applications coupled with the high-cost attached to these devices is contributing to the rapid growth of the segment.
The end-use segment, respiratory disease treatment is anticipated to show significant growth during the forecast period. The swiftly rising prevalence rate of the chronic respiratory diseases including asthma and bronchitis is creating the demand for suction devices used to clear the airway passage.
Regionally, the global medical suction devices market has been segmented into North America, AsiaPacific, Europe, Latin America, and Middle East and Africa (MEA). North America dominated with around 30% market share in 2015. The growth of the North America medical suction devices market was mainly attributed to the increasing use of suction devices in the treatment of chronic respiratory conditions as well as in surgical procedures. In addition, the higher adoption rate of these devices observed in the home care services sector and the increasing number of healthcare facilities in this region are augmenting growth in the North America region.
The Asia Pacific region is anticipated to exhibit the fastest CAGR from 2016 to 2024. The booming medical tourism, constantly increasing target patient population, and improving healthcare infrastructure are some of the factors expected to fuel the growth of the Asia Pacific market.
The global medical suction devices market is highly fragmented with the presence of many local players. As a result, players focus on cost reduction and innovation to ensure sustainability. In addition, the international players, such as Siemens Healthcare GmbH, Olympus Corporation, and Drive Medical implemented growth strategies through collaborations and partnerships to expand their overall market share.
Some of the key established players include Allied Healthcare Products, Inc., Precision Medical, Inc., Drive Medical, INTEGRA Biosciences AG, Medicop, Inc., SSCOR, Inc., ATMOS MedizinTechnik GmbH & Co. KG, ZOLL Medical Corporation, Welch Vacuum, Laerdal Medical, Labcoco Corporation, Labconco Corporation, Amsino International, Inc., and Olympus Corporation.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.