Medical Gas Analyzers Market Insights on Market Challenges and New Trends

Posted by andrew on October 3rd, 2019

The global medical gas analyzers market produced 5 million in 2017, and is expected to reach 5 million by 2025, growing at a CAGR of 4.1% from 2018 to 2025. Medical gas analyzers are used for the detection, measurement, and analysis of medical gases in hospitals and healthcare industries. Rise in number of medical gas therapy across geographies with increase in number of surgeries and emergencies & ICU patients drive the growth the market. Furthermore, surge in prevalence of chronic diseases and technological advancements in medical gas analyzers are expected to boost the market growth during the forecast period. However, poor awareness about medical gas analyzers in some underdeveloped countries impedes the medical gas analyzers market growth.

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 Medical gas analyzers are used for the measurement of concentration and purity of medical gas such as oxygen, carbon dioxide, nitrogen, or nitrous oxide. These gases are widely used in hospitals, ambulatory surgery centers, and pharmaceutical & biotech companies for gas therapy, sterilization, and insulation. The medical gas analyzers market is anticipated to show significant growth during the forecast period, due to upsurge in adoption of medical gas analyzers, stringent regulation for medical gas system, and increase in demand for advanced medical gas analyzing systems.

Depending on product, the market is bifurcated into single gas analyzer and multiple gas analyzer. At present, single gas analyzer is major revenue generator, due to lower cost, convenience, and accuracy it offers. However, the demand for multiple gas analyzers is expected to be highest during the forecast period, owing to technological advancements in multi-gas analysis systems.

According to modality, the market is categorized into handheld, portable, and benchtop. Presently, portable analyzers segment generates the highest revenue, and is anticipated to show dominance during the forecast period, due to ease of handling, cost-effectivity, and test convenience. However, the handheld segment is anticipated to exhibit the highest growth rate, owing to the technological advancements and surge in adoption of handheld analyzers.

By end user, the market is classified into hospitals, ambulatory surgery centers, pharmaceutical industry, and others. The hospitals segment occupied the largest share in 2017 and is anticipated to continue its dominance during the forecast period, due to rise in need for medical gas piping and surge in usage of medical gas therapies among the hospitals. However, the ambulatory surgery centers segment is anticipated to show fastest growth, owing to increase in number of surgery centers and rise in awareness of these centers among the developing countries.

North America held the largest market share in 2017 and is expected to remain dominant throughout the forecast period. This is attributed to higher demand for medical gas analyzers, stringent regulation for medical gas systems, developed healthcare infrastructure, and higher number of hospitals & healthcare systems. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to upsurge in number of medical gas therapies and rise in number of surgeries & emergency room patient population.