Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
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), and 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 estimated to exhibit a CAGR of 6.6%, over the forecast period (2019-2026), as highlighted in a new report published by Coherent Market Insights.
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The increasing product launches by key players is one of the major factors that is expected to augment the global medical vacuum system market growth over the forecast period. For instance, BeaconMedaes Lab launched new MSV Rotary Medical Screw Vacuum System in February 2018. It offers large and efficient vacuum service to medical and laboratory applications. The systems aids in reducing costs associated with multiple vacuum demands mostly in hospital and laboratory setting.
Furthermore, key players are focusing on expansion of business by that is expected to fuel growth of global medical vacuum system market over the forecast period. 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.
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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Furthermore, major players are focusing on mergers and acquisitions to strengthen their market position is further expected to drive the global medical vacuum system market growth over the forecast period. 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.
Similarly, in March 2018, Atlas Copco acquired Walker Filtration Ltd, a 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 regulatory approvals for medical vacuum system is expected to propel growth of global medical vacuum system market. For instance, in October 2018, ConvaTec Group Plc. received the 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 utilized for wound healing.
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Key Takeaways of the Global Medical Vacuum System Market:
- The global medical vacuum system market is expected to exhibit a CAGR of 6.6% over the forecast period (2019-2026), attributed to increasing number of collaborations by key players. For instance, in November 2018, Busch LLC entered into a collaboration with the Pfeiffer Vacuum Technology AG. Under the collaboration, Busch LLC focuses on developments of various segments such as sales & services, research and development, and improve the vacuum product line.
- On the basis of regions, Asia Pacific is expected to witness significant growth in the medical vacuum system market over the forecast period. The regional growth is attributed to high presence of key manufacturers and suppliers of medical vacuum systems in the region such as Medical Corporation, Olympus Corporation, RGS Vacuum Solution, Hunan Eter Electronic Medical project Co, Ltd., and Weifang Km Electronics Co, Ltd, who are based at Japan, India, and China.
- Key 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
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