Pune, Oct. 08, 2024 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “The Medical Gas Analyzers Market was USD 264.48 million in 2023 and is projected to reach USD 371.7 million by 2032, the market is growing at a CAGR of 3.86% over the forecast period of 2024-2032.”
Market Overview
Factors driving the demand for the Medical Gas Analyzers Market include the increase in medical spending and technological advancements. In the modern healthcare system, patient safety and treatment protocols are considered very important, leading to the need for prompt and accurate measurements of gases, which culminates in an increasing demand for gas analyzers in hospitals and outpatient surgical centers for safe and efficient delivery of medical gases such as oxygen and nitrous oxide. Moreover, the increasing prevalence of chronic respiratory conditions and the growth in surgical interventions that are done outside the walls of a hospital setup drive the demand for this analytical equipment. In short, the market is equipped with a well-established supply chain, providing analyzers right on time with a good mix of products to suit healthcare facilities.
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Key Players:
- Fluke Biomedical (Fluke Biomedical ProSim)
- Maxtec LLC (MaxO2 Analyzer)
- Draegerwerk AG & Co. KGaA (Draeger X-plore 8000)
- Servomex Group Ltd (Servomex 3000)
- Teledyne Technologies Incorporated (Teledyne 6000 Series)
- MEECO Inc (MEECO 3900)
- Graco Inc. (Geotechnical Instruments (UK) LTD) (Graco Gas Monitor)
- NOVAIR S.A.S (NOVAIR Analyzer)
- Roscid Technologies (Roscid Gas Analyzer)
- Systech Illinois (Systech 8000)
- WITT-Gasetechnik GmbH & Co KG (WITT MultiGas Analyzer)
- Tenex Capital Management (Ohio Medical) (Ohio Medical Gas Analyzers)
- Sable Systems International (Sable Gas Analyzer) and others.
Medical Gas Analyzers Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 264.48 Million |
| Market Size by 2032 | USD 371.7 Million |
| CAGR | CAGR of 3.86% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product Type (Single Gas Analyzer, Multiple Gas Analyzer) • By Modality Type (Handheld Analyzer, Portable Analyzer, Benchtop Analyzer) • By End User (Hospitals, Ambulatory Surgery Centers, Pharmaceutical Industry, Others) |
| Key Drivers | • Rising Respiratory Diseases, Aging Population, Technological Advancements, Regulatory Compliance, and Preventive Healthcare Focus |
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Segment Analysis
By Product Type
During 2023, multi-gas analyzers accounted for the lion's share of 57.4%. These analyzers are accurate because they can analyze different types of gases at the same time, and therefore very crucial in critical care settings where the patient needs quite strict monitoring of oxygen, carbon dioxide, and nitrous oxide levels. Critical conditions mean patients have to be treated with highly advanced machines that will be able to administer and provide information and prompt the doctors with what to do in time. In addition, multi-gas analyzers simplify the workflow, thus saving time spent in making gas measurements and increasing their attractiveness in busy hospitals.
By Modality Type
By the end of 2023, benchtop analyzers have earned a market share of 29.8% mainly due to their accuracy and reliability in testing gases. An increasing demand for benchtop analyzers has been witnessed across labs, hospitals, and various research facilities that require high-grade testing and quality assurance.
This group's growing segment is handheld analyzers, which are more favorable because they are portable and easy to use, especially with point-of-care testing. Their compact design has enabled emergency assessment so that healthcare professionals can make time-and-critical decisions in life-or-death situations, especially in ambulatory surgical centers and emergency rooms. This trend is a sign of the healthcare industry's toward immediate and accessible diagnostic solutions.
By End User
Hospitals was the largest end-user segment accounting for 28.7% of the market in 2023. This is because it comprises a very large number of patients requiring diagnosis and treatment on these premises. Medical gas analyzers are integral to the safe delivery of medical gases and form the core part of the treatment plans in intensive care units and surgical theatres. Safety and regulatory requirements in hospitals may contribute to increased demand for critical gas analysis equipment.
In contrast, ASCs have emerged as the fastest-growing segment. The facilities increasingly show a tendency to adopt advanced medical technologies that can facilitate enhanced patient care and increase operational efficiency. The shift towards outpatient surgeries and procedures calls for fast and accurate monitoring of gases, among which, making medical gas analyzers a prerequisite for better surgery outcomes and patient safety.
Regional Analysis
The North American region had the highest share in the Medical Gas Analyzers Market, mainly due to advanced healthcare infrastructure and strict regulatory standards. In old age, chronic respiratory diseases are highly prevalent, and their management requires medical gas analyzers in hospitals as well as outpatient facilities. Major players in the region, such as GE Healthcare and Drägerwerk AG, always advance their product portfolios to keep up with the burgeoning market needs, and the emphasis is on advanced features and reliability in gas measurement.
The Asia-Pacific region is said to be the largest with the highest potential for growth due to rising health care investments and increased patient safety awareness. The demand for advanced medical gas analyzers is seen growing there because of the rising number of healthcare facilities in countries like China and India, and such companies as Nihon Kohden Corporation and Shenzhen Mindray Bio-Medical Electronics Co., Ltd. are expanding there.
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Current Trends
- October 2023 - Drägerwerk AG has unveiled a new line of portable multi-gas analyzers for critical care, aimed at boosting real-time monitoring.
- August 2023 - GE Healthcare unveiled an advanced benchtop gas analyzer that boasts more accurate and quicker results for lab applications.
- July 2023- Masimo Corporation unveils a compact, portable handheld analyzer for point-of-care use which makes rapid assessment of patient gas possible.
- June 2023: Philips Healthcare launched a medical gas monitoring system. It is designed to be easily integrated with the IT infrastructure of any hospital to effectively streamline operations.
- May 2023: Nihon Kohden Corporation released an advanced single-gas analyzer that is easy for the patient and economical for outpatient care.
- April 2023: Shenzhen Mindray Bio-Medical Electronics Co., Ltd., released a next-gen multi-gas analyzer that adds data analytics and cloud connectivity capabilities to enhance monitoring.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Device Volume, by Region (2020-2032)
5.4 Healthcare Spending, by Region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
6.1 List of Major Companies, by Region
6.2 Market Share Analysis, by Region
6.3 Product Benchmarking
6.4 Strategic Initiatives
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Medical Gas Analyzers Market Segmentation, by Product Type
7.1 Chapter Overview
7.2 Single Gas Analyzer
7.3 Multiple Gas Analyzer
8. Medical Gas Analyzers Market Segmentation, by Modality Type
8.1 Chapter Overview
8.2 Handheld Analyzer
8.3 Portable Analyzer
8.4 Benchtop Analyzer
9. Medical Gas Analyzers Market Segmentation, by End User
9.1 Chapter Overview
9.2 Hospitals
9.3 Ambulatory Surgery Centers
9.4 Pharmaceutical Industry
9.5 Others
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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