The ultrasonic aspirator market is witnessing promising growth over the past decade due to wide applications of ultrasonic aspirators in various surgeries like thyroidectomy. Ultrasonic aspirators are surgical devices primarily used for tissue dissection, removal of diseased tissues, and fragmentation of tissues through mechanical suction. The devices help clear surgical sites and provide better visualization for surgeons during complex surgeries. The advantages of ultrasonic aspirators over conventional electrosurgical devices include minimal lateral heat generation, bloodless operating field, faster procedure times, and reduced risk of thermal injuries. These advantages make ultrasonic aspirators suitable for surgeries involving delicate tissues like the thyroid gland, pituitary gland, and brain.
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 2024 to 2030.
Key Takeaways
Key players operating in the ultrasonic aspirator market are US Zinc, GHC, and Hindustan Zinc Ltd. These players are focusing on product innovation and diversifying their product portfolios.
Increasing incidence of thyroid cancer worldwide presents significant growth opportunities for players in the market. thyroid cancer cases have doubled in the last three decades.
Technological advancements in ultrasonic technology such as improvements in frequency, power output, and ergonomics of devices will support the market growth over the forecast period. New devices offer adjustable power settings, precise tip control, and improved efficiency.
Market drivers
Growing geriatric population prone to various cancers and benign tumors is a major factor driving the market growth. According to the WHO, the number of people aged 65 years and above is expected to reach 1.5 billion by 2050 from 703 million in 2019. Older population is more susceptible to surgical procedures where ultrasonic aspirators are used. Rising healthcare spending per capita in developing nations is another factor fueling the uptake of high-end surgical devices like ultrasonic aspirators in these regions.
Challenges in Ultrasonic Aspirator Market
The ultrasonic aspirator market is facing numerous challenges which are hampering its growth. High equipment cost is one of the major challenges. Ultrasonic aspirators are expensive surgical devices and many smaller hospitals and clinics hesitate in purchasing them due to budget constraints. Moreover, lack of skilled professionals is another challenge as ultrasonic aspirators require highly skilled surgeons to operate. Attracting and retaining skilled surgeons is difficult for healthcare facilities in developing nations where the market has future growth potential. Additionally, stringent regulations pertaining to the approval of these devices makes their availability limited. However, manufacturers are focused on launching cheaper devices and making the technology accessible to more healthcare providers across regions.
SWOT Analysis
Strength: Ultrasonic aspirators offer precision and safety during surgical procedures. They cause minimal damage to surrounding tissues.
Weakness: Initial equipment costs of ultrasonic aspirators are high. Training and retaining skilled professionals require additional expenditure.
Opportunity: Growth opportunities exist in developing regions due to increasing healthcare expenditure and focus on surgical specialties. Launch of cheaper devices will boost adoption.
Threats: Stringent regulatory guidelines delay new product approvals. Established players dominating the market pose competition to new entrants.
Geographical Regions
North America currently holds the largest share in the ultrasonic aspirator market in terms of value. This is attributed to high adoption of advanced surgical technologies and presence of major players in the region. Growing expenditure on healthcare sector fuelled the market growth.
Asia Pacific is expected to witness the fastest growth during the forecast period. Rapidly developing healthcare infrastructure especially in India and China provides lucrative opportunities. Increasing patient pool undergoing surgical procedures will propel the Asia Pacific ultrasonic aspirator market. Focus of global players to tap growth potentials of emerging countries plays a vital role.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
