Global Medical Gas Analyzer Market: By Analyzer Type (Single Gas Analyzer, Multiple Gas Analyzer), By Technology (Optical, Infrared, Electrochemical), By Equipment (Valves and Hose Assemblies, Alarm Systems, Cylinders, Flowmeters, Regulators, Air Compressors, Masks, Vacuum Systems, Manifolds, Outlets), By End User (Hospitals, Ambulatory Surgery Centers, Others), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global medical gas analyzer market was valued at US $ XX Mn and expected to grow at 4.35% Compound Annual Growth Rate (CAGR) from 2018 to 2024.
Market Outline: Medical Gas Analyzer Market
The medical gas analysis is becoming an important aspect of patient safety, patient monitoring, diagnosis, and therapy. This application of technology to determine the constituents and quantifying physiologic gases is increasing in importance. Various medical gases such as oxygen, carbon dioxide, nitrogen, nitrogen dioxide, nitrous oxide, and medical air etc. have become a fundamental part of hospitals and many other healthcare facilities.
Market Dynamics: Medical Gas Analyzer Market
Increase in the advancements of the technology is the key factor attributing the growth of the medical gas analyzer market. Growing count of the hospitals is another factor anticipating the growth of the market. Rising awareness among the healthcare providers regarding patient safety and monitoring is influencing the growth of the medical gas analyzer market. Increase in the incidence of the chronic respiratory diseases is enhancing the growth of the market. However, the stringent government regulations are hampering the growth of the medical gas analyzer market. Poor reimbursement policies are hindering the growth of the market.
Market Scope: Medical Gas Analyzer Market
Medical gas analyzer market is segmented based on the analyzer type, technology, equipment, and end user
Based on the analyzer type, the market is segmented into the following:
- Single Gas Analyzer
- Multiple Gas Analyzer
Based on the technology, the market is segmented into the following:
Based on the equipment, the market is segmented into the following:
- Valves and Hose Assemblies
- Alarm Systems
- Flow meters
- Air Compressors
- Vacuum Systems
Based on the end user, the market is segmented into the following:
- Ambulatory Surgery Centers
Regional Analysis: Medical Gas Analyzer Market
Geographically, global medical gas analyzer market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America medical gas analyzer market is the dominant market owing to its improved technology. The increasing demand for the improvements in the healthcare is leading to drive the growth of the medical gas analyzer market. Rising need of the gas analyzers in the hospitals is anticipating the growth of the market. As per the Centers for Disease Control and Prevention, 130,000 people in the U.S. die due to stroke each year and every year 795,000 of the population suffers from strokes indicating the need for medical gases for therapy in turn supporting the growth of medical gas analyzers market. Europe medical gas analyzer market falls next to North America. The Europe medical gas analyzer market projected to grow exponentially over the forecasted period due to the presence of the emerging economies with a focus on the development of the healthcare. The growing support from the government is attributing the growth of the medical gas analyzer market.
Competition Assessment: Medical Gas Analyzer Market
Some of the players in the global medical gas analyzer market include:
- Drägerwerk AG & Co. KGaA (Germany)
- General Electric Co. (U.S.)
- Figaro Engineering Inc. (Japan)
- Honeywell International, Inc. (U.S.)
- ABB Ltd. (Switzerland)
- Emerson Electric Co. (U.S.)
Notable Market Developments: Medical Gas Analyzer Market
- In November 2017, Servomex has launched a new multi-gas analyzer offering up to four simultaneous digital gas stream measurements and configurable to a wide range of industrial gas and pharmacopeia applications.