April 21, 2024
Ultrasonic Aspirator Market

The Ultrasonic Aspirator Market to Witness Substantial Growth due to Rising Number of Surgeries

The ultrasonic aspirator market has gained traction in recent years due to its advantages such as precise removal of tissues during surgery without damaging surrounding tissues. Ultrasonic aspirators use high-frequency ultrasonic sound waves to liquefy and remove tissues and fluids from the surgical site, thereby providing surgeons with optimal control and views during complex procedures. They help remove blood, secretions, and debris from surgical areas efficiently. The technology is widely being adopted in various ENT, gynecological, neurological, and other surgeries.

The Global Ultrasonic Aspirator Market Demand is estimated to be valued at US$ 170.96 Mn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period from 2024 to 2030.

Key Takeaways

Key players: Key players operating in the ultrasonic aspirator market are US Zinc, GHC, and Hindustan Zinc Ltd. US Zinc and GHC collectively hold around 60% of the overall market share.

Key opportunities: Increasing volume of complex surgeries globally and rising medical tourism in developing nations present lucrative opportunities for players in the market.

Global expansion: Major players are investing in expanding their geographical footprint in high growth emerging markets like Asia Pacific and Latin America. Partnerships with local distributors will help accelerate their market penetration.

Market drivers: The growing number of surgical procedures due to rising incidence of chronic diseases and road accidents is a major market driver. According to the WHO, road accidents account for around 1.3 million deaths each year globally indicating substantial surgical procedures. This is expected to propel the demand for ultrasonic aspirators.

PEST Analysis

Political: The government policies related to healthcare sector and funding for hospitals and clinics will affect growth of ultrasonic aspirator market. Strict regulations for medical devices approval may impact new product launches.

Economic: Fluctuations in economic conditions can influence hospital capital spending plans as well as their budgets for surgical equipment. Growth in healthcare expenditure of countries will support market growth.

Social: Rise in geriatric population and chronic diseases will increase need for surgeries which will drive demand for ultrasonic aspirators used in various medical procedures.

Technological: Developments leading to compact size, improved functionality and operability of ultrasonic aspirator systems through innovations in batteries, sensors and digital technologies will expand scope of applications and support market growth over forecast period.

Geographical Regions of High Concentration

North America accounts for the largest share of ultrasonic aspirator market in terms of value owing to well developed healthcare infrastructure, high adoption of advanced medical technologies and large presence of key players. The region is projected to maintain its dominance during forecast period supported by rising healthcare spending and focus on quality of care.

Fastest Growing Region

Asia Pacific region is poised to witness fastest growth in ultrasonic aspirator market during 2024-2030. Factors such as increasing healthcare access and expenditures, growing medical tourism industry and rising incidence of chronic diseases will fuel demand for ultrasonic aspirators across developing nations of China and India. Favorable government policies and initiatives towards modernizing healthcare systems offer lucrative opportunities for market players in Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it