Medical Suction Devices Market Overview 2024: Size, Growth Drivers, and Major Segments
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What is the Expected Growth Rate of the Medical Suction Devices Market for the Period 2024 to 2033?
In recent times, the market size of medical suction devices has experienced a significant surge. The market is anticipated to expand from $1.02 billion in 2023 to $1.09 billion in 2024, with a compound annual growth rate (CAGR) of 6.8%. The robust growth during the historic period can be ascribed to an emphasis on controlling infection, the proliferation of portable solutions, an increase in the aging population, a surge in emergency care, and improvements in design and functionality.
In the coming years, the market for medical suction devices is forecasted to experience substantial growth, predicted to escalate to $1.37 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 5.9%. This growth during the forecast period can be ascribed to various factors such as the rise in surgical procedures, an expanding aging population, an increase in home healthcare services, enhancement of emergency care, and emphasis on infection prevention. Major market trends predicted during the forecast period include the rising demand for portable medical equipment, usage of disposable elements, expansion of telemedicine and homecare integration, emphasis on user-friendly designs, and an increase in demand within developing regions.
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What Factors Are Responsible for the Growth of the medical suction devices Market?
The anticipated rise in the number of surgical operations is predicted to fuel the growth of the medical suction device market. The term surgical procedures refers to any medical technique involving an incision into the human body. Medical suction devices have a key role in maintaining patient airways clear thus ensuring safer surgeries. Global surge in surgical procedures implies an uptick in the demand for these devices. For example, an April 2022 report by the Aesthetic Society, a leading U.S. plastic surgeon association, highlighted a 54% increase in surgeries, with an average of 320 surgeries performed by plastic surgeons in 2021. Furthermore, the average cost of a typical surgical procedure escalated by 6% in 2021. Hence, the projected increase in surgical procedures will stimulate the medical suction device market.
Which Segments Are Important for Insight into the Medical Suction Devices Market?
1) By Type: AC-Powered Devices, Battery-Powered Devices, Dual-Powered Devices, Manually Operated Devices
2) By Portability: Hand Handled Devices, Wall Mounted Devices
3) By Application: Airway Clearing, Research and Diagnostics, Surgical, Other Applications
4) By End-User: Homecare Setting, Hospitals, Clinics
What Are the Significant Trends Reshaping the Medical Suction Devices Sector?
One significant trend in the medical suction device market lies in the advancement of technology-based devices. To maintain their market standings, key companies are introducing novel and revolutionary technologies. For instance, in March 2023, TransMed7 LLC, a medical and tech firm based in the U.S., debuted a new self-contained external vacuum-assist attachment, the VacuPac®. The VacuPac® incorporates Zero5® technology for efficient biopsy performance, featuring minimal weight, a self-power option, and enhanced mobility, due to eradication of all restriction from suction tubing tethers. This vacuum-integrated device pulls solid cores into a removable container while preserving aspirated fluid in an integrated canister for cytological examination. Offering benefits like reduced weight, self-powering, quiet operation, ease of use, and increased movement mobility by eradicating all suction tubing tethers, the VacuPac® is set to revolutionize minimally invasive breast biopsies.
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Which Regions Are Essential for the Growth of the Medical Suction Devices Market?
North America was the largest region in the medical suction devices market in 2023. Asia-pacific is expected to be the fastest-growing region in the global medical suction devices market during the forecast period. The regions covered in the medical suction devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Medical Suction Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the medical suction devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Medical Suction Devices Market Include
1. Medical Suction Devices Market Executive Summary
2. Medical Suction Devices Market Segments
3. Medical Suction Devices Market Size And Template Market Growth Rate
4. Key Medical Suction Devices Market Trends
5. Major Medical Suction Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Medical Suction Devices Market
26. Top Medical Suction Devices Companies
27. Medical Suction Devices Market Opportunities And Strategies
28. Medical Suction Devices Market, Conclusions And Recommendations
29. Appendix
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