Global Suction Coagulators Market: Introduction
Suction Coagulators are used for controlled fluid evacuation. In addition, suction coagulators provide coagulation and suction procedure simultaneously. The device is latex free, disposable and flexible that provides specific surgical needs.
Global Suction Coagulators Market: Competition Landscape
Key players operating in the global suction coagulators market are Covidien (Medtronic), Bovie Medical, Megadyne, CONMED, DeRoyal, Kirwan Surgical Products, LLC, and HCP-Austria. The global suction coagulators market is consolidated with the presence of less number of manufacturers. Increase in strategic collaborations and new product launches are expected to drive the global suction coagulators market during the forecast period.
Bovie Medical Corporation is an energy-based medical device company that develops and manufactures electrosurgical products and technologies. The company operates through three segments: Electrosurgery, Cauteries, and Other Products. The company is established in 1982 and headquartered in the U.S.
Medtronic operates through four business segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Diabetes Group, and Restorative Therapies Group. The minimally invasive therapies group is sub-segmented into surgical solutions and patient monitoring & recovery. Medtronic’s deep understanding of universal healthcare challenges extends its reach to more than 140 countries.
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CONMED is a medical technology company that is engaged in the manufacturing of surgical devices and equipment for minimally invasive procedures and monitoring. The company specializes in equipment relating to arthroscopy, electrosurgery, endoscopy, endosurgery, gastroenterology, integrated systems, patient care, powered surgical instruments, and pulmonology markets. It operates through five business segments: Arthroscopy, Powered Surgical Instruments, Electrosurgery, Patient Care, and Endosurgery.
Global Suction Coagulators Market: Dynamics
The global suction coagulators market is driven by various factors at the regional, national, and global levels. Rise in geriatric population and increase in demand for minimally invasive surgeries are major factors driving the global market. Moreover, development of advanced energy based electrosurgical devices such as suction coagulators and increase in the investment by public and private sectors for the advancement of healthcare and technological innovations are projected to propel the global market during the forecast period. However, stringent government regulatory, and shortage of skilled personnel are likely to restrain the global suction coagulators market during the forecast period.
Increase in Geriatric Population
Continuous increase in the geriatric population is expected to be one of the potential drivers of the global suction coagulators market during the forecast period. The geriatric population is prone to several diseases such as cancer, cardiac arrest, and gastrointestinal diseases due to weak immunity. Moreover, demand for minimally invasive surgeries is high for the treatment of such patients to avoid longer healing time and hospital stay. Hence, increasing need of effective treatment options for the geriatric population is expected to drive demand for suction coagulators market. According to WHO estimates, the global geriatric population is likely to reach around 2 billion (22% of global population) by 2050, which was around 524 million in 2010.