37% of the growth to Originate from North America
NEW YORK, According to the research report “Surgical Suction Instruments Market by Type and Geography – Forecast and Analysis 2022-2026”, the market will witness a YOY growth of 3.52% in 2022 at a CAGR of 5.09% during the forecast period. The report is segmented by application type (disposable and reusable) and geography (North America, Europe, Asia, and ROW).
Vendor Insights
The surgical suction instruments market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. For instance, Bionix LLC offers surgical suction instruments that are designed to allow health care practitioners to safely remove cerumen from the ear with the added benefit of light and magnification.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
Allied Healthcare Products Inc. APEX Medical Corp. Applied Medical Resources Corp. Bionix LLC Cardinal Health Inc. Conmed Corp. Medline Industries Inc. Medtronic Plc SP Industries Inc. STERIS Plc
Geographical Market Analysis
37% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for surgical suction instruments in North America. Market growth in this region will be slower than the growth of the market in the European and Asian regions.
The growth of this regional segment is attributed to the increasing older population, coupled with chronic diseases and an increase in the volume of surgeries.
Key Segment Analysis
The surgical suction instruments market share growth by the disposable segment will be significant during the forecast period. Hospitals are taking various precautions such as adopting disposable medical supplies, including surgical suction instruments, to reduce the risk of infections in hospital facilities. The adoption of such supplies is fueled by their cost-effectiveness and reduced need for sterilization before use. Moreover, the growing focus of hospitals on prevention management to meet the regulatory standards set by authorities such as the FDA will propel the market’s growth during the forecast period.
Key Market Drivers & Challenges:
The increase in the volume of surgeries coupled with chronic diseases and older population. Surgical care is essential to manage diverse healthcare conditions such as orthopedic, ear nose throat (ENT), thoracic, and many other chronic disease conditions. With the increase in the volume of surgeries, the demand for surgical suction instruments also increases. Furthermore, the prevalence of chronic diseases and obesity, coupled with the growing aging population, will also have a positive impact on the market growth. In addition, the high growth potential in emerging economies is another factor supporting the surgical suction instruments market share growth.
The stringent regulatory framework will be a major challenge for the surgical suction instruments market during the forecast period. Most surgical suction instruments are subject to stringent regulations before regulatory approval. Strict product approval processes and safety regulations make it hard for manufacturers to launch new products in the market. The stringent regulatory scenario hinders the growth of the global surgical suction instruments market.
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Surgical Suction Instruments Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 5.09%
Market growth 2022-2026
$ 109.66 million
Market structure
Fragmented
YoY growth (%)
3.52
Regional analysis
North America, Europe, Asia, and ROW
Performing market contribution
North America at 37%
Key consumer countries
US, Canada, Norway, The Netherlands, and Australia
Competitive landscape
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Allied Healthcare Products Inc., APEX Medical Corp., Applied Medical Resources Corp., Bionix LLC, Cardinal Health Inc., Conmed Corp., Medline Industries Inc., Medtronic Plc, SP Industries Inc., and STERIS Plc
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Executive Summary
Market Landscape
Market ecosystem Value chain analysis
Market Sizing
Market definition Market segment analysis Market size 2021 Market outlook: Forecast for 2021 – 2026
Five Forces Analysis
Bargaining power of buyers Bargaining power of suppliers Threat of new entrants Threat of substitutes Threat of rivalry Market condition
Market Segmentation by Type
Market segments Comparison by Type Disposable – Market size and forecast 2021-2026 Reusable – Market size and forecast 2021-2026 Market opportunity by Type
Geographic Landscape
Geographic segmentation Geographic comparison North America – Market size and forecast 2021-2026 Europe – Market size and forecast 2021-2026 Asia – Market size and forecast 2021-2026 ROW – Market size and forecast 2021-2026 Key leading countries Market opportunity by geography Market drivers Market challenges Market trends
Vendor Landscape
Vendor landscape Landscape disruption
Vendor Analysis
Vendors covered Market positioning of vendors Allied Healthcare Products Inc. APEX Medical Corp. Applied Medical Resources Corp. Bionix LLC Cardinal Health Inc. Conmed Corp. Medline Industries Inc. Medtronic Plc SP Industries Inc. STERIS Plc
Appendix
Scope of the report Currency conversion rates for US$ Research methodology List of abbreviations
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