Global Medical Gas Analyzer Market: Snapshot
Medical gases such as oxygen, carbon dioxide, nitrogen, nitrogen dioxide, nitrous oxide, and medical air etc. are integral part of hospitals and many other healthcare facilities and related industries. These gases are have varied application in hospitals for diagnostics to therapeutic purposes, in pharma and food industries for modified atmospheric packaging and in research and diagnostics centers to maintain and monitor controlled environment within facilities. The analysis of these medical gases in these facilities is important and crucial factor for patient and staff’s safety, for maintaining quality standards in pharma and food industries, and to get desired outcome in research laboratories.
Medical gas analyzer are used for detection, measurement and analysis of these gases in hospitals and related industries. Based on characteristics and properties of medical gases, single and multiple gas analyzer with different gas sensing technology are available. The medical gas analyzer are used by hospitals, ambulatory surgery centers, diagnostics centers, research institutes, pharmaceutical and food packaging industries in their routine operations. The medical gas analyzer market is mainly influenced by the safety standards, regulatory compliance and the cost of equipment.
Transparency Market Research estimates that the global medical gas analyzer market was valued at US$136.91 mn in 2015 and will expand at a CAGR of 3.1% from 2016 to 2024 to reach US$179.24 mn by 2024.
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Hospitals to Retain Position as Leading Users of EHR Systems
On the basis of end-user, the global medical gas analyzer market has been segmented in the report into hospitals, ambulatory surgery centers, pharma, and food industries and other segments such as diagnostics centers, research institutes, and laboratories. Of these, medical gas analyzer are most frequently required and used in hospitals. As a result, the hospitals end-use segments accounted for the dominant share in the global market in 2015. This segment is anticipated to exhibit a CAGR of 3.1% during forecast period from 2016 to 2024 and retain its dominance.
The healthy growth of the hospitals segment is expected to be driven due to the vast increase in number of hospitals, especially across developing countries. The demand for medical gas analyzers the pharma and food industries is expected to expand at the most promising rate over the forecast period. Demand will be driven by the increased adherence to the practice of modified atmospheric packaging in these industries and the increased number of pharmaceutical and food industries in emerging economies such as India, and China.
North America to Hold Lion’s Share in Global Market
In terms of geography, the global medical gas analyzer market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Of these, the market in North America dominated the global medical gas analyzer market in 2015 and is projected to expand at a CAGR of 2.8% over the forecast period. High expenditure in healthcare infrastructure, implementation of standard safety policies in most healthcare facilities and pharma industry are the factors projected to drive the demand for medical gas analyzers in North America.
The market in Asia Pacific is anticipated to exhibit the most promising growth rate at a CAGR of 3.6% over the report’s forecast period. The growth of this market is attributed to the rising numbers of hospitals and ambulatory surgery centers and heavy investments by foreign companies in healthcare and the pharmaceutical industry in emerging economies.
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Some of the leading companies competing in the global medical gas analyzer market and profiled in the report are Fluke Inc., Teledyne Technologies Incorporated, Servomex Group Limited, Geotechnical Instruments (UK) Ltd., TSI Incorporated, Maxtec LLC, WITT-GASETECHNIK GmbH & Co KG, Drägerwerk AG & Co. KGaA, Sable Systems International, Systech Instruments Ltd., Illinois Instruments, Inc., Critical Environment Technologies Canada Inc., and VISCIANO s.a.s,