As per estimates presented in a report by MRRSE, the global medical gas analyzer market is projected to be worth US$179.24 mn by the end of 2024 from US$136.91 mn in 2015, expanding at a CAGR of 3.1% between 2016 and 2024.
Albany, NY -- (SBWIRE) -- 07/10/2018 -- To Understand the Medical Gas Analyzer Market Industry Status worldwide, MRRSE has included the latest Forecast report titled "Global Medical Gas Analyzer Market Outlook and Growth Stance Forecasted Through 2024", to its vast database. This study offers data about the prime regions operating in the Medical Gas Analyzer Market, along with their production, consumption, revenue and market share details. Further, the intelligent report also anticipates that the market would grow at a constructive CAGR until 2024.
Sample report is available here – https://www.mrrse.com/sample/3110
Medical gas analyzer are devices used for detection, measurement and qualitative & quantitative analysis of single or mixture of medical gases. Five types of medical gases such as oxygen, carbon dioxide, nitrogen, nitrous oxide and medical air are widely used in hospitals and related healthcare industries. Single gas analyzer and multiple gas analyzer are two common types of medical gas analyzer used for analysis of medical gases. These medical gas analyzer detects, measures and analyze the concentration of medical gases and their mixtures at different levels using variety of gas sensing technologies such as electrochemical, infrared, optical, etc. Analysis and monitoring of medical gases in hospitals has become the integral and crucial part in patient diagnosis, monitoring and therapeutics. The use of medical gas analyzer in hospitals, and pharma and food industries is increasing across the globe for the safety of patients, medical professionals and operators in various healthcare facilities.
Global Medical Gas Analyzer Market: Growth Dynamics
Increasing number of hospitals and healthcare reforms for safety standards in developing countries across the globe are the factors expected to drive the growth for global medical gas analyzer market. New technologies have been developed for gas measurement such as electrochemical, paramagnetic, and infrared sensor technology. These technologies enable safer and quicker measurement of medical gases. Companies are spending more on R&D activities in order to develop products to measure trace levels of gases in the health care industry. Companies by using different technologies in one single device to measure multiple gases can target specific areas where accuracy is important. Paramagnetic and zirconia technologies for gas sensing are able to deliver these results. Majority of players in the gas analyzer market operate globally through strong distribution networks. Key players are expanding their business in developing and less developed countries through subsidiary companies and local distributors. The incorporation of multiple gas sensing technologies in single device to facilitate the analysis of multiple gases at a time lead to increased cost of these device which restricts the growth of medical gas analyzer market. Also lack of standardization to meet specific and precise needs in healthcare facilities in developing and under developed markets are the key restraints of global medical gas analyzer market.
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Based on type of analyzer, global medical gas analyzer market is segmented into single gas analyzer and multiple gas analyzer. Single gas analyzer accounts for largest share of global medical gas analyzer market. On the basis of gas sensing technology single gas analyzer are further classified into electrochemical, optical and infrared gas sensing technology. Owing to specific application of electrochemical gas sensing technology towards analysis of oxygen and nitrogen gas and its economic cost, electrochemical gas sensing technology dominated the global medical gas analyzer market. This segment is projected to gain its market share with highest growth rate during given forecast period. By end-user, medical gas analyzer market is segmented into hospitals, ambulatory surgery centers, pharma and food industry and others. Medical gases have wide applications in hospitals which represents the high potential for medical gas analyzer. Hospital segment dominated the global medical gas analyzer market whereas pharma and food industries are projected to grow at exponential growth rate during forecast period. Both hospitals and pharma & food Industries represents the most attractive market for given forecast period owing to increasing expenditure on healthcare infrastructure and increasing number of hospitals and pharma and food industries, especially in developing countries.
Global Medical Gas Analyzer Market: Geographical and Competitive Dynamics
Geographically, the global medical gas analyzer market has been segmented into five regions: North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. These regions have been further segmented by countries, analyzer type and End-user segments. The competition matrix section included in the report is likely to assist the existing players to increase their market shares and new companies to establish their presence in the global medical gas analyzer market.
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The report also profiles major players in the market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Major companies competing in the medical gas analyzer market, and profiled in the report include 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.
The global medical gas analyzer market has been segmented as follows:
Global Medical Gas Analyzer Market, by Analyzer Type
Single Gas Analyzer
Multiple Gas Analyzer
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