PORTLAND, Oregon, August 22, 2018 /PRNewswire/ --
Increasing awareness of medical gas therapy and soaring number of surgeries, emergencies & ICU patients have been instrumental in driving the growth of the industry in the Asia-Pacific region.
Allied Market Research published a report, titled, Medical Gas Analyzers Market by Product Type (Single Gas Analyzer and Multiple Gas Analyzer), and Modality Type (Handheld Analyzer, Portable Analyzer, and Benchtop Analyzer): Global Opportunity Analysis and Industry Forecast, 2018-2025. According to Allied, the global medical gas analyzers market was pegged at $235.32 million in 2017 and is expected to reach $325.53 million by 2025, registering a CAGR of 4.1% from 2018 to 2025. It presents a comprehensive analysis of the medical gas analyzers market by assessing the prevailing market trends, key challenges & opportunities, top investment pockets, key growth strategies, and competitive landscape.
Increase in demand for low-cost, high-precision products across developing countries is expected to boost the market growth. In addition, upsurge in the geriatric population has significantly boosted the market development. However, concerns about safety standards, stringent regulatory compliances, and high cost of such equipment could hamper the growth of the market. Furthermore, increasing incidence of diseases that require long-term care, or at times even multiple surgeries is expected to boost the growth of the medical gas equipment market.
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Multiple gas analyzers to demonstrate highest growth by 2025
The report is classified based on product type into multiple gas analyzers and single gas analyzers. The market share of the former is expected to grow 1.5 times through 2025. However, the single gas analyzer would continue to dominate the global market in terms of revenue throughout the forecast period.
Portable analyzers overshadow the market
The modality types discussed in the report include handheld analyzers, portable analyzers, and benchtop analyzers. The portable analyzer segment generated the highest revenue in 2017, contributing more than half of the market share. However, the handheld analyzer could be lucrative in future, as it expected to grow at 5.20% CAGR during the study period.
Asia-Pacific holds lion's share in the industry
The report offers a country-level analysis of several regions including, North America, Europe, Asia-Pacific, and LAMEA. In 2017, the Asia-Pacific region would be lucrative for leading market players, as it is projected to amass $80.31 million by 2025, registering a CAGR of 5.4% during 2018-2025. It is followed by LAMEA with a market value of $17.77million through the forecast period.
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Torchbearers of the market
The report profiles the leading players of the global medical gas analyzer industry, which include Fluke Inc., Servomex Group Limited, TSI Incorporated, WITT-GASETECHNIK GmbH & Co KG, Sable Systems International, Illinois Instruments, Inc., VISCIANO S.A.S., Teledyne Technologies Incorporated, Geotechnical Instruments (UK) Ltd., Maxtec LLC., Drägerwerk AG & Co. KGaA., Systech Instruments Ltd., and Critical Environment Technologies Canada Inc. These companies have adopted various strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations to sustain their positions in the industry.
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