Medical Suction Devices Market Is Expected to Reach $1,391.1 Million by 2031: Allied Market Research
Increase in demand for compact & portable devices, rapid technological advancement, rise in the incidence of chronic diseases, and surge in the geriatric population who are vulnerable to lungs disease, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and bronchiectasis drive the growth of the medical suction devices market. Looking ahead, the Asia-Pacific region is expected to exhibit the fastest CAGR by 2031.
Portland, OR, March 29, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global medical suction devices market generated $730.7 million in 2021, and is estimated to reach $1,391.1 million by 2031, witnessing a CAGR of 6.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
|Market Size in 2021||$730.7 million|
|Market Size in 2031||$1,391.1 million|
|No. of Pages in Report||400|
|Segments Covered||Type, Portability, Application, End Users, and Region|
|Drivers||Increase in demand for compact and portable devices|
|Rapid technological advancement and rise in the incidence of chronic diseases|
|Swift from traditional healthcare settings to homecare settings|
|Surge in use of medical suction in various procedures such as endoscopy, medical suction device-assisted delivery of baby
|Opportunities||Rise in the geriatric population|
|Rapid increase in pollution|
|Restraints||Strict regulatory guidelines and rise in the entry of local players
|Limited reimbursement for suction devices|
Impact of Covid-19 on Medical Suction Devices Market:
- Due to the COVID-19 pandemic, the demand for medical suction devices such as endotracheal suction increased significantly. These devices are essential for removing fluid secretions from the lungs and airways of COVID-19 patients, helping to prevent complications such as pneumonia and admission to the ICU.
- In response to this increased demand, many businesses ramped up the production of medical suction devices and introduced new and advanced models. As a result, the market for medical suction devices was impacted positively from the COVID-19 outbreak.
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The report offers a detailed segmentation of the global medical suction devices market based on the type, portability, application, end users, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the electrically operated devices segment held the largest share in 2021, garnering more than 90% of the global medical suction devices market revenue and is projected to maintain its dominance by 2031. The same segment would also cite the fastest CAGR of 6.9% throughout the forecast period. Also, the manually operated devices and venturi segments are discussed in the report.
Based on portability, the portable segment contributed to nearly three-fourths of the global medical suction devices market revenue and is projected to rule the roost by 2031. However, the same segment would also showcase the fastest CAGR of 7.1% throughout the forecast period. The non portable segment is also studied in the report.
Based on application, the surgical segment contributed to more than two-fifths of the global medical suction devices market revenue. On the other hand, the airway clearing segment is projected to dominate the market in terms of revenue by 2031. The same segment would also portray the fastest CAGR of 7.9% throughout the forecast period. The other segments assessed through the report take in surgical and others.
Based on end user, the hospitals segment contributed to nearly half of the global medical suction devices market revenue and is expected to dominate by 2031. However, the others segment would display the fastest CAGR of 7.8% throughout the forecast period. The Clinics segment is assessed through the report.
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Based on region, North America held the major share in 2021, garnering more than two-fifths of the global medical suction devices market revenue and is projected to rule the roost by 2031. However, the Asia-Pacific region would cite the fastest CAGR of 8.7% throughout the forecast period. The other provinces studied through the report include Europe and LAMEA.
The key market players analyzed in the global medical suction devices market report include ATMOS Medizintechnik GmbH & Co. KG, Medela AG, Precision Medical, Inc., Amsino International, Inc., Labconco Corporation, Laerdal Medical, Integra Biosciences AG, Asahi Kasei Corporation, Allied Healthcare Products, Inc., MEDICOP d.o.o. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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