Global Medical Gas Analyzers Market: Based on Type (Optical Gas Analyzer, Infrared Gas Analyzer, Electrochemical Gas Analyzer, Single Gas Analyzer, Multiple Gas Analyzer), Based on End User (Hospitals, Pharmaceutical and Food Industries, Ambulatory Surgical Centers, Others) and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Medical Gas Analyzers market was valued at US $ XX Mn and expected to grow at 3.5% Compound Annual Growth Rate (CAGR) over the 2018 to 2024.
Market Outline: Medical Gas Analyzers Market
Medical gas analyzers are the devices used for measuring, detection and qualitative as well as quantitative analysis of medical gases or its mixtures. Commonly used medical gases in the hospital and healthcare industry are oxygen, carbon dioxide, medical air, nitrogen and nitric oxide.
Market Dynamics: Medical Gas Analyzers Market
Global medical gas analyzers market is driven by the improvement in healthcare infrastructure around the world owing to the increase in government spending in healthcare development and increase in awareness related to various diseases among the people. In addition, adaptation of the new technologies in healthcare settings to provide improved treatment to the patients and increase in number of hospitals around the world. Furthermore, technological advancements in the gas analyzers systems led to the interpretation of the alarm systems, touch screen technology, barcoding technologies benefitted the adaptation of the medical gas analyzers in the market. On the other side, high cost of the new technologies are expected to hamper the growth of the market over the forecast period.
Market Scope: Medical Gas Analyzers Market
Ocular drug delivery technology market is segmented based on type and end user
Based on type, the market is segmented into the following:
- Optical Gas Analyzer
- Infrared Gas Analyzer
- Electrochemical Gas Analyzer
- Single Gas Analyzer
- Multiple Gas Analyzer
Based on end user, the market is segmented into the following:
- Pharmaceutical and Food Industries
- Ambulatory Surgical Centers
Market Summary: Medical Gas Analyzers Market
Global medical gas analysers market projected to witness the immense growth owing to the increase in number of hospitals and adaptation of the new technologies in the healthcare settings worldwide. Market players are focusing on the development of the new cutting edge technologies to improve their market position. For instance, in November 2017, Servomex has launched new multi gas analyser “The Multi Exact 4100” which offers up to four simultaneous digital gas stream measurements applicable to wide range of pharmacopeia and industrial applications. Furthermore, low cost products from the new markets are affecting the sales developing and under developing countries, hence, market players also focusing in the strategies such as acquisitions and collaboration to improve their market position.
Regional Analysis: Medical Gas Analyzers Market
Geographically, global medical gas analyzers market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America medical gas analyzers market is expected to grow at significant rates owing to the well-established healthcare infrastructure, stringent regulations in order to avoid the medical gas accidents and adaptation of the advanced technologies in the region. Europe medical gas analyzers market projected to have the notable growth rate over the forecast period due to the presence of key market players, increase in healthcare spending and disposable income. Asia Pacific medical gas analyzers market anticipated to grow at fastest rate owing to the developing healthcare infrastructure especially in the developing countries such as India and China. Furthermore, government initiatives for the improvement of facilities in the hospitals and high patient population in the region projected to boost the market share.
Competition Assessment: Medical Gas Analyzers Market
Some of the players in the global medical gas analyzers market include:
- Teledyne Technologies, Inc. (U.S.)
- Fortive (Fluke) (U.S.)
- Geotechnical Instruments (UK) Ltd. (U.K.)
- Spectris plc (U.K.)
- CoorsTek, Inc. (Maxtec LLC) (U.S.)
- TSI Incorporated (U.S.)
- Drägerwerk AG (Germany)
- WITT-GASETECHNIK GmbH & Co KG (Germany)
- Systech Instruments Ltd. (U.K.)
- Sable Systems International (U.S.)
Notable Market Developments: Medical Gas Analyzers Market
- In March 2017, Systech Illinois has acquired by Industrial Physics Inc. to expand their market product offerings to the industries
- In January 2018, Fluke biomedical has launched one channel full range airflow functionality testing analyzers VT650 and VT900.