ALBANY, New York, July 2, 2019 /PRNewswire/ -- The global medical gas analyzer market is prognosticated to witness a notable growth in coming years. The key players are focusing on upgrading the product quality and improving the reliability as well. Besides, these companies operating in the global gas analyzers market are experimenting with various business strategies such as mergers and acquisitions, collaboration, and partnerships, which are expected to uptake the revenue of the market globally. The market scenario is anticipated to shift from being consolidated to fragmented due to advent of several players on regional and international scale.
The global medical gas analyzer market is expected to witness the advent of several budding players in the coming years. However, the well-established players are not likely to face a threat due to this. Nevertheless, it calls for more strategic business plans to sustain their position in the global market, which will help them sustain the disruption of medical gas analyzer market dynamics. Some of the players leading the market are Teledyne Technologies Incorporated, Fluke Inc., Servomex Group Limited, TSI Incorporated, and Geotechnical Instruments (UK) Ltd.
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According to a recent report Transparency Market Research (TMR), the global medical gas analyzer market is foreseen to expand at a steady CAGR of 3.1% within the forecast period from 2016 and 2024. In addition, the global medical gas analyzer market in 2015 was valued around US$136.91 Mn, which is foreseen to surge around US$179.24 Mn by the end of 2024.
Based on end-user, the global medical gas analyzer market is classified into ambulatory surgery centers, hospitals, food, and pharma sectors, along with other segments for example, research institutes, diagnostics centers, and labs. Among these, the medical gas analyzer is widely used in hospitals segment. Geographically, the market is led by North America region, and projected a highest share in 2015. The region is likely to expand at a CAGR of 2.8% in the upcoming years. This is credited to improved safety policies, increased expenditure on medical sector, and development in pharmaceutical and medical industry in the mentioned region.
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Increased Number of Emergency Clinics to Augur Growth in Market
Surge in number of healthcare centers and emergency clinics is the most critical trend contributing in the uptake of the global medical gas analyzer market in past few years. Moreover, the emergence of ambulatory operation centers that are well-equipped with medical gas analyzers has likewise soared the demand in the market over the past few years. Besides, it makes sense to project that the global medical gas analyzer market would step up its game towards growth due to increased establishment of research institutes and diagnostic centers across the globe. The venture made by the administration towards installation of advanced technologies in the healthcare sectors has likewise pushed demand in the global medical gas analyzer market.
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Increased Installation Expenses to Pull Down Market Growth
The demand in the global market for therapeutic gas analyzers has been ascending by virtue of advancements, reforms, and changes, in the manner in which the healthcare and medicinal sector function. The cost of deployment of these analyzers are also high. Moreover, the staggering expenses of organization for medical gas analyzers still remain a concern that dismays the healthcare sectors of a few rising economies. Nevertheless, even with this negative impact on the market, the demand regarding the global medical gas analyzer market is estimated to continue surging as medical tourism sector picks up the pace.
The review is based on TMR's report titled "Medical Gas Analyzer Market (Analyzer Type - Single Gas Analyzer, Multiple Gas Analyzer; Technology - Electrochemical, Optical, and Infrared; End user - Hospitals, Ambulatory Surgery Centers, Pharma, Food, Diagnostics Centers, Research Institutes, and Laboratories) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024".
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The global Medical Gas Analyzer Market is segmented as:
Type of Analyzer
- Single Gas Analyzer
- Multiple Gas Analyzer
- Ambulatory Surgery Centers
- Pharma and Food
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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