The demand within the global market for medical gas analyzer has been rising on account of key advancements in the healthcare and medicine industries across the globe, finds Transparency Market Research (TMR). The market players who have been thriving in the global market for medical gas analyzer have been concentrating on improving the quality and increasing the reliability of their products. Furthermore, these market players in the global gas analyzers market have attained a level of expertise with execution of business strategies, and this factor shall also impel their growth meter. It is projected that the competitive landscape of the global market for gas analyzers would make a fundamental shift from a consolidated one to a fairly fragmented one as new market players make their way into the market.
The global market for medical gas analyzer is also expected to witness the entry of new and amateur players who could disrupt the dynamics of this market’s competitive landscape. While the solid position attained by the leading vendors in the global medical gas analyzers market remains unchallenged, the entry of too many new players could invite a strategic business response from the former. Mergers, partnerships, and acquisitions could be a salient feature of the competitive landscape of the global market for medical gas analyzers.
Transparency Market Research (TMR) finds that the global market for medical gas analyzer would expand at a sluggish CAGR of 3.1% over the period between 2016 and 2024. Furthermore, the global medical gas analyzers market is expected to accumulate revenues worth US$179.24 mn by 2024, rising up from a value of US$136.91 mn in 2015. On the basis of geography, the global market for medical gas analyzers is expected to reap away the highest revenues from North America in the years to come.
The growing number of hospitals and healthcare centers is the most significant trend that has contributed towards the growth of the global market for medical gas analyzers in recent times. Furthermore, the presence of ambulatory surgical centers that are necessary equipped with medical gas analyzers has also taken market demand to skyrocketing levels over the past decade. Moreover, it is safe to prognosticate that the global market for medical gas analyzers would tread on a lucrative growth path as diagnostic centers and research institutes take a leap in their game of progress. The investment made by the government towards deployment of cutting-edge technologies in the healthcare industry has also propelled demand in the global market for medical gas analyzers.
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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.
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