Global Medical Vacuum System Market to Surpass $1.9 Billion by 2026

According to Coherent Market Insights, the global vacuum system market was valued at $1.17 billion in 2018, and is projected to exhibit a compound annual growth rate (CAGR) of 6.6 percent during the forecast period (2019–2026).
 
Increasing launch of new products is expected to drive the global medical vacuum system market growth. For instance, in June 2019, KNF Neuberger, Inc. launched new vacuum pump NPK 012 Swing-Piston Pump. NPK 012 Swing-Piston Pump is economical, compact, and lightweight vacuum pump for portable devices. Furthermore, in March 2019, Atlas Copco launched its (LRP VSD+) revolutionary plug & play Variable Speed Drive Liquid Ring Vacuum Pump. It is a compact, high-performance, energy efficient vacuum system. This vacuum system is used in the various industries. LRP VSD+ is perfectly suitable in wet, humid, high temperature, and extreme vapor load.
 
Thus, new product launches for medical vacuum systems are providing opportunities to manufacturers to meet the rising demand of these medical vacuum systems. Moreover, major players such as Johnson & Johnson Medtronic, Teleflex Incorporated also offer medical vacuum system and have strong position in the medical vacuum systems market.
 
Moreover, increasing number of approvals by regulatory authority is expected to drive growth of global medical vacuum system market. For instance, in August 2018, SOMAVAC Medical Solution Inc. received approval from the U.S. Food and Drug Administration (FDA) for its wearable post-surgical pump SOMAVAC 100 sustained vacuum system.
 
Among regions, Europe is expected to witness significant growth in global medical vacuum system market, owing to increasing product launch activities for medical vacuum systems. For instance, in February 2018, Smith & Nephew manufacturing company launched new vacuum system Pico 7 in European market. Pico7 is single-use negative pressure wound therapy system. It provides efficient vacuum to wound.
 
Key Takeaways

• The global medical vacuum system market is projected to witness a CAGR of 6.6 percent during the forecast period (2019–2026), owing to increasing collaboration activities by key players. For instance, in July 2016, Sumitomo (SHI) Cryogenics of America, Inc. collaborated with Synergy Systems Corporation. Under this collaboration, Sumitomo (SHI) Cryogenics of America Inc., expanded the distribution of its Marathon CP Cryopumps in North America.
• Among regions, Asia Pacific is expected to witness significant growth in global medical vacuum system market, owing to increasing product launch activities by key players. For instance, in December 2018, Ebara Corporation launched new air-cooled dry vacuum pump model EV-PA, which creates a cleaner vacuum environment. It can be used for analytical instruments, medical equipment, and in food and coating industries.
• 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.