Medical Suction Devices Market Witnessing Increased Demand during COVID-19 Pandemic Due to Surging Hospitalization Rates: Fact.MR
Published : 17 Dec 2020 Industry: Healthcare
Proper management of fluids is an important function of medical suction devices. Liquid and solid medical waste is a potential biohazard for patients, waste handlers, and the environment. In order to mitigate the risk of re-infection and reemergence of infectious diseases, safe waste management is of utmost importance.
Amid the global havoc caused by infectious diseases such as SARS and COVID-19, proper disposal of medical waste has become a matter of priority for governments and regulatory authorities across the world. The Center for Disease Control and Prevention (CDC) states that more than 30% infections are acquired from hospitals.
Overall, the global medical suction devices market is projected to expand at a steady CAGR of 4% over the forecast period of 2020 to 2030.
Key Takeaways from Medical Suction Devices Market Report
- Wall-mounted medical suction devices is expected to emerge as the most lucrative segment. Meanwhile, hand-held medical suction devices are anticipated to register significant growth over the forecast period.
- North America is projected to be the most lucrative market for medical suction devices. The Asia Pacific region is expected to register the highest and fastest growth over the forecast period.
- Increasing number of prevalent respiratory diseases is anticipated to be the primary driver for the medical suction devices market.
- Limited reimbursement for medical suction devices might have a negative impact on the market in the near future.
- Rising geriatric population is projected to drive the global medical suction devices market.
- Increasing healthcare expenditure in developed as well as developing nations is anticipated to impact the global medical suction devices market in a positive way.
“Despite being hit by the impacts of the COVID-19 pandemic initially, the global medical suction devices market has recovered and is expected to benefit from rising demand for medical devices due to the virus outbreak,”says a Fact.MR analyst.
Medical Suction Devices Market: Competitive Analysis
The global medical suction devices market is highly fragmented with the presence of multinational as well as regional players. Companies are focusing on mergers and acquisitions in order to gain an advantage over the competition. Key players are also concentrating on offering a diverse product portfolio to sustain in the market.
Manufacturers are investing in research & development activities in order to come up with innovative products and technological advancements to gain an upper hand in the market, and gain the first mover’s advantage. Players in the global medical suction devices market are also adopting price reduction strategies in order to increase penetration and expand reach in the market.
- For instance, SSCOR has developed the SSCOR DCell Suction, which is the world's first and only full-size portable suction device powered by off-the-shelf alkaline batteries.
- Another manufacturer of medical suction devices, Inscope Medical Solutions, launched the first laryngoscope with integrated suction. It is a disposable laryngoscope that allows physicians to maintain a clear view of the airway. Moreover, this device is easy to use and provides controllable suction in the mouth throughout a procedure.
Some of the established players operating in the global medical suction devices market 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.
More Valuable Insights on Medical Suction Devices Market
In its latest report, Fact.MR has provided an unbiased analysis on the global medical suction devices market, comprising data on historical statistics (2015-2019) and forecast of demand for the period from 2020 to 2030. The report discusses critical insights on the medical suction devices market in terms of product (AC-powered, battery-powered, dual-powered, and manually-operated), applications (surgical, airway cleaning, and research and diagnostics), end user (homecare settings and hospitals & clinics), and portability (wall-mounted and hand-held), and across 5 key regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
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