Medical Vacuum System Market to Surpass US$ 1.9 Billion by 2026 - Coherent Market Insights

The Global Medical Vacuum System Market, by Product Type (Standalone, Centralized, Portable, and Others), by Technology (Dry Claw Vacuum Pump, Oil-Sealed Liquid Ring, Water-Sealed Liquid Ring, Oil-Sealed Rotary vane, and Others), by Application (Diagnostics, Wound Care, Anesthesiology, Gynecology, and Others), by End User (Hospitals and Clinics, Diagnostic Centers, Ambulatory Surgical Hospitals, Academic and Research Institutes, Pharmaceutical and Biotechnological Companies, and Others), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 1,176.4 million in 2018, and is projected to exhibit a CAGR of 6.6%, during the forecast period (2019-2026), as highlighted in a new report published by Coherent Market Insights.

Increasing product launch activities by key players is expected to drive the global medical vacuum system market growth. For instance, in February 2018, BeaconMedaes Lab launched new MSV Rotary Medical Screw Vacuum System. It offers large and efficient vacuum service to medical and laboratory applications. The systems can help to reduce costs associated with multiple vacuum demands mostly in hospital and laboratory setting. Furthermore, expansion of business by key players is expected to drive growth of global medical vacuum system market. For instance, in January 2016, RGS  launched its new subsidiary branch RGS Vacuum Solutions S.r.l. RGS Vacuum Solutions produces industrial vacuum cleaner, powder transfer system, centralized vacuum system, and accessories. Hence, business expansion activities related to manufacturing of vacuum systems will support the global medical vacuum system market growth.

Browse 37 Market Data Tables and 32 Figures spread through 167 Pages and in-depth TOC on "Medical Vacuum Sysetm Market, by Product Type (Standalone, Centralized, Portable, and Others), by Technology (Dry Claw Vacuum Pump, Oil-Sealed Liquid Ring, Water-Sealed Liquid Ring, Oil-Sealed Rotary vane, and Others), by Application (Diagnostics, Wound Care, Anesthesiology, Gynecology, and Others), by End User (Hospitals and Clinics, Diagnostic Centers, Ambulatory Surgical Hospitals, Academic and Research Institutes, Pharmaceutical and Biotechnological Companies, and Others), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"

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Increasing number of merger and acquisition activities by key players is expected to drive the global medical vacuum system market growth. For instance, in July 2015, Nilfisk Group acquired Kerrick, a provider of industrial and commercial cleaning equipment, for distribution of cleaning equipment such as vacuum cleaners. Nilfisk Group is a supplier of cleaning equipment including vacuum cleaner for industrial as well as commercial market. Kerrick is a supplier of industrial vacuum equipment. Furthermore, in March 2018, Atlas Copco acquired Walker Filtration Ltd, manufacturer of equipment for the treatment of compressed air, gas and vacuum.

Under this acquisition, the business of Walker Filtration Ltd, has been operated as a part of the Medical Gas division in Atlas Copco’s Compressor Technique business area. Moreover, increasing number of approval activities by regulatory authorities for medical vacuum system is expected to propel growth of global medical vacuum system market. For instance, in October 2018, ConvaTec Group Plc. received U.S. Food and Drug Administration (FDA) approval for its negative pressure wound therapy system Avelle. Avelle is a small, portable, and disposable vacuum system, which is used for wound healing.

Key Takeaways of the Global Medical Vacuum System Market:

• The global medical vacuum system market is expected to witness a CAGR of 6.6% during the forecast period (2019–2026), owing to increasing collaboration activities by key players. For instance, in November 2018, Busch LLC collaborated with the Pfeiffer Vacuum Technology AG. Under this collaboration, Busch LLC focuses on developments of various segments such as sales & services, research and development, and improve the vacuum product line.
• Among regions, Asia Pacific is expected to witness significant growth in the medical vacuum system market, owing to high presence of key manufacturers and suppliers of medical vacuum systems in the region. For instance, majority of key manufacturers and suppliers of medical vacuum system such as Medical Corporation, Olympus Corporation, RGS Vacuum Solution, Hunan Eter Electronic Medical project Co, Ltd., and Weifang Km Electronics Co, Ltd, belong to Japan, India, and China.
• Major players operating in the global medical vacuum system market include, Asahi Kasei ZOLL Medical Corporation, INTEGRA Holdings, Medela AG, Precision Medical, Inc., Dregerwerk, AG & Co KGaA, Allied Healthcare Products Inc. Gardner Denver Holdings, Busch Holdings GmbH, Laerdal Medical, and Air Techniques