Global Surgical Suction Pumps Market: Overview
Suction pumps removes surgical fluids, tissue, gases and bodily fluids during and after surgery. Surgical suction pumps have a regular application in hospitals and clinics. Surgical suction pump is used for liposuction, wound drainage suction, vacuum-assisted delivery, laparoscopy, endoscopy, urology, and arthroscopy procedures. Surgical suction pumps help by clearing up all the bodily fluids and unwanted tissues and gases maintaining hygiene after a surgical procedure. This instrument finds applications in surgical procedures such as gynecological, cardiac, orthopedic, ocular, spine, ENT, dermatological, cosmetic, maxillofacial, dental, urological, neurological, and general surgical procedures.
Global Surgical Suction Pumps Market: Key Trends
Rise in demand for minimally invasive surgical procedures, development and advancement of instruments, and increase in the geriatric population boost the growth of the global surgical suction pumps market. Other drivers include increase in the number of cosmetic procedures, and high or sudden rise in the number of surgeries among the geriatric population. Factors restraining the global market include development of other non-invasive surgery technologies and stiff competition among existing surgical suction pumps manufacturers. Moreover, product recalls, government regulations for reduction of overall health care cost, and subsequent increase in bulk purchasing through Group Purchasing Organizations (GPOs) restrain the market.
Global Surgical Suction Pumps Market: Segmentation
The global surgical suction pumps market can be segmented based on product type, modality, application, end-user, and region. In terms of product type, the global surgical suction pumps market can be bifurcated into electric surgical suction pumps, pneumatic surgical suction pumps and venturi surgical suction pumps. Based on modality, the global surgical suction pumps market is classified into fixed and portable. Based on application, the global market is segmented into liposuction, laparoscopy, general surgery, thoracic drainage, urology and others. The laparoscopy segment is projected to witness strong growth during the forecast period due to increase in the number for laparoscopic surgeries. End users for the global surgical suction pumps market are hospitals, clinics, ambulatory surgical centers and others. Hospitals are likely to hold largest share of the global market due to mostly preferred location of patients for various surgeries.
Global Surgical Suction Pumps Market: Regional Analysis
Geographically, the global surgical suction pumps market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for significant share of the global market in 2017 owing to extensive research and technological advancements in the region. Increase in surgical procedures and improving reimbursement scenario are also likely to propel the market in the region. Favorable reimbursement policies, regulatory framework focused on patient safety, and high treatment efficacy standards are expected to augment the market in North America. Europe was the second largest market for surgical suction pumps in 2017 due to enhanced health care processes and increase in urology as well as gynecological surgery procedures. Moreover, rise in geriatric population is expected to propel the market in the region. Improving health care infrastructure and increase in patient awareness about substitute treatment options are projected to drive the market in Asia Pacific. Surge in medical tourism in the region is also likely to contribute to market growth. Countries in Latin America such as Mexico and Brazil present significant opportunities in the market due to developing medical structure and high disposable income.
Global Surgical Suction Pumps Market: Competitive Landscape
Key companies operating in the global surgical suction pumps market are Medtronic Plc., Stryker Corporation, Omron Healthcare, Inc., Allied Healthcare Products, Inc., Anand Medicaids, HERSILL, S.L., Medela LLC, Penumbra Inc., and Arthrex, Inc. These players have adopted product development strategies such as approvals, product launches, and clinical trials in order to maximize market share.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.