A recent report published by Infinium Global Research on medical gas analyzer market provides an in-depth analysis of segments and sub-segments in the global as well as regional medical gas analyzer market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional medical gas analyzer market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global medical gas analyzer market. According to the report, the global medical gas analyzer market is projected to grow at a CAGR of 4.31% over the forecast period of 2018-2024.
Medical gas analyzers are devices used for determining, measuring qualitative and quantitative configuration of pure medical gases or to blend medical gases. The most widely used gases in hospitals and health care industries are oxygen, nitrogen, carbon dioxide, and nitrous oxide. This analyzer includes instruments and equipment such as vacuum systems, monitoring systems such as alarms and monitors, regulators, fluidics such as valves and pumps, sealing solutions. These instruments examine the concentration of medical gases such as oxygen-nitrous oxide along with their purities and impurities and other organic and inorganic impurities, in the medical gases. There are two types of medical gas analyzer used to analyses medical gases; they are multiple gas analyzer and single gas analyzer.
Factors such as increasing prevalence of chronic diseases such as asthma, diabetes, cancer, and respiratory diseases, and a growing number of patients treated in ICUs are driving the growth of the medical gas analyzer market. Furthermore, the growing number of hospitals and healthcare reforms and new technological development such as infrared sensor technology, paramagnetic, and electrochemical are also some of the boosting factors for this market. Besides, companies are spending more on R&D activities in order to measure trace levels of gases in the health care industry. Additionally, the presences of ambulatory surgical centers that are essentially prepared with medical gas analyzers are fueling market growth. However, rising incidence of respiratory diseases due to the growing geriatric population is creating an opportunity for the upcoming year. On the other side, lack of standardization to meet accurate and specific needs in the healthcare sector is limiting the growth of medical gas analyzer market.
In terms of geographies, North America is expected to lead the global medical gas analyzer. Factors such as the adoption of new technology and advanced healthcare infrastructure are driving the growth of this market in the North America region. Further, the Asia-Pacific region is expected to grow at the fastest growth rate during the forecast period due to growing air pollution specifically in countries such as India, China, and Japan.
The report on global medical gas analyzer market covers segments such as type, equipment, application, end users, and technology. On the basis of type, the sub-markets include multiple gas analyzer and single gas analyzer. On the basis of equipment, the sub-markets include monitoring systems, vacuum systems, flow meters, regulators, and concentrators. On the basis of application, the sub-markets include laboratory use, respiratory diseases, cryotherapy, cardiovascular diseases, and anesthesia. On the basis of the end users, the sub-markets include academic research institutes, ambulatory surgery centers, hospitals, and diagnostic centers. On the basis of technology, the sub-markets include electrochemical, infrared, and optical.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in this region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China.
The report provides profiles of the companies in the market such as Fluke Inc, TSI Incorporated, Servomex Group Limited, WITT-Gasetechnik GmbH & Co KG, Sable Systems International, Critical Environment Technologies Canada Inc., Teledyne Technologies Incorporated, Maxtec LLC, GEOTECHNICAL INSTRUMENTS (UK) LTD., and Drägerwerk AG & Co. KGaA.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of medical gas analyzer market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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