Medical Gas Analyzer Market
PUBLISHED: 2024 ID: SMRC24780
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Medical Gas Analyzer Market

Medical Gas Analyzer Market Forecasts to 2030 - Global Analysis By Type (Single Gas Analyzer, Electrochemical, Optical, Infrared, Multiple Gas Analyzer and Other Types), Product Type (Oxygen Analyzers, Carbon Dioxide Analyzers, Nitrogen Analyzers and Other Product Types), Modality (Handheld Analyzer, Portable Analyzer and Benchtop Analyzer), Technology, End User and by Geography

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4.2 (37 reviews)
Published: 2024 ID: SMRC24780

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Medical Gas Analyzer Market is accounted for $335.24 million in 2023 and is expected to reach $507.42 million by 2030 growing at a CAGR of 6.1% during the forecast period. A medical gas analyzer is a specialized device made to measure and analyzes different gases used in medical applications precisely. These gadgets are essential for guaranteeing the effectiveness and safety of medical gas systems, which contain gases like carbon dioxide, oxygen, nitrous oxide, and anesthetics. Additionally, medical gas analyzers are used in medical facilities, including clinics, hospitals, and labs, to keep an eye on the purity and composition of medical gases and make sure they adhere to strict quality and safety regulations.

According to the American Society for Testing and Materials (ASTM), Medical Gas Analyzers are indispensable tools in healthcare, playing a pivotal role in monitoring and maintaining the quality and safety of medical gases essential for patient care and various medical procedures.

Market Dynamics: 

Driver: 

Prioritizing patient safety

The market for medical gas analyzers is largely driven by the growing focus on patient safety in healthcare environments. Accurate monitoring and analysis of medical gases is becoming increasingly important in guaranteeing patients well-being as healthcare facilities work to improve the quality of care they provide. Moreover, medical gas analyzers give medical personnel accurate readings, reducing the possibility of hazards from using the wrong gas mixtures and maintaining ideal gas compositions.

Restraint:

Complexity of maintenance and calibration

Healthcare facilities face difficulties in maintaining and calibrating medical gas analyzers due to their complexity. To guarantee the accuracy of gas measurements, regular calibration is necessary, and this procedure frequently calls for specific knowledge and experience. Furthermore, the intricacy of maintenance protocols could pose operational difficulties for medical personnel, which could result in delays or disturbances in the medical gas monitoring process.

Opportunity:

Growing investments in emerging markets for healthcare

The market for medical gas analyzers is expected to grow significantly as a result of the growing emphasis on the construction of healthcare infrastructure and investments in developing nations. Moreover, the need for sophisticated medical equipment, such as accurate gas analyzers, is growing concurrently with national investments in the construction and modernization of healthcare facilities, offering manufacturers and suppliers a sizable market opportunity.

Threat:

Supply chain interruptions

The possibility of disruptions from natural disasters, geopolitical conflicts, or pandemics is brought about by the interconnected global supply chain. Supply chain disruptions may result in shortages of essential parts, which could affect production schedules and the market's ability to obtain medical gas analyzers. Furthermore, strong supply chain management techniques, such as supplier diversification and backup plans to guarantee resilience against unanticipated disruptions, should be put in place by manufacturers to counter this threat.

Covid-19 Impact: 

With its plethora of opportunities and challenges, the COVID-19 pandemic has had a major impact on the medical gas analyzer market. Medical gas analyzer demand has increased due to respiratory care's increased focus and critical care settings' need for accurate gas analysis, even though the initial disruptions in the supply chain and manufacturing processes caused temporary setbacks. In healthcare facilities overrun with respiratory cases, the pandemic highlighted the significance of real-time monitoring of medical gases, such as oxygen. Moreover, improvements in healthcare infrastructure around the world and the quick uptake of telehealth solutions have also opened up new markets for growth and recovery.

The Multiple Gas Analyzer segment is expected to be the largest during the forecast period

The segment of multiple gas analyzers has the largest market share because of its versatility in measuring and analyzing multiple gases at the same time. This section combines cutting-edge technologies like infrared sensors, optical sensors, and electrochemical sensors to offer a complete solution for a range of applications. In industries where simultaneous monitoring of various gases is critical for process control, environmental compliance, and safety, multiple gas analyzers are indispensable. Additionally, these analyzers are widely used in industries like healthcare, environmental monitoring, and industrial manufacturing.

The Ambulatory Surgery Centers segment is expected to have the highest CAGR during the forecast period

With the highest CAGR in the industry, the ambulatory surgery centers (ASCs) segment is a noteworthy example of a trend in the healthcare industry. Due to their effectiveness in delivering same-day surgical procedures, cost-effectiveness, and decreased hospital stays, ambulatory surgery centers are becoming more and more popular. Furthermore, the need for medical equipment, including cutting-edge technologies like medical gas analyzers, is increasing due to the growing preference for outpatient surgical care, which is being driven by factors like convenience, quicker recovery times, and lower healthcare costs.

Region with largest share:

Due to its established healthcare system, strong legal frameworks, and high level of awareness of patient safety and healthcare standards, the North American region commands the largest share of the market for medical gas analyzers. Because of its large number of healthcare facilities, research institutions, and emphasis on technological advancements in the medical field, the United States, in particular, is a major contributor to the region's dominance. Moreover, the North American market gains from large investments in healthcare, which encourage the use of cutting-edge medical devices, such as accurate gas analyzers, to guarantee adherence to strict regulations and improve patient care.

Region with highest CAGR:

The medical gas analyzer market is growing at the highest CAGR in the Asia-Pacific region, indicating a notable uptick in demand. A number of factors, including the expanding healthcare infrastructure, growing patient safety consciousness, and rising investments in healthcare technology throughout nations like China and India, are credited with the rapid growth. Additionally, as the economies and cities of these countries continue to grow, more attention is being paid to modernizing healthcare facilities, which is creating a demand for sophisticated medical equipment such as accurate gas analyzers.

Key players in the market

Some of the key players in Medical Gas Analyzer market include Systech Instruments Ltd., Thermo Fisher Scientific Inc, Geotechnical Instruments (UK) Ltd, Messer Group Gmbh, Air Liquide, Taiyo Nippon Sanso Corp., Graco Inc., Sable Systems International, Draegerwerk AG & Co. KGaA, QED Environmental Systems, Teledyne Technologies Incorporated, Illinois Instruments, Inc, Servomex Group Limited, Maxtec, LLC and Ntron Gas Measurement Ltd.

Key Developments:

In December 2023, Thermo Fisher Scientific Inc., the world leader in serving science, today announced the launch of CorEvidence, a proprietary cloud-based data lake platform optimizing pharmacovigilance case processing and safety data management processes. The new platform enhances CorEvitas clinical research registries offered by Thermo Fisher's PPD clinical research business.

In November 2023, Air Liquide and Sasol have signed new Power Purchase Agreements (PPA) with the global wind and solar company Mainstream Renewable Power, for the long-term supply of a capacity of 97.5 MW of renewable power to Sasol’s Secunda site, in South Africa, where Air Liquide operates the biggest oxygen production site in the world. This is the third set of PPAs signed by Air Liquide and Sasol, after those announced in the first quarter of 2023 with Enel Green Power and TotalEnergies with its partner Mulilo.
 
In August 2023, QED Environmental Systems Inc., a manufacturer of environmental products and subsidiary of Graco Inc., has launched the Xact Count pneumatic pump cycle counter, which monitors pump performance and maintenance cycles while estimating the volume of liquid being pumped. The cycle counter monitors water discharge rather than airflow, ensuring pumps are operating correctly, the company says.

Types Covered:
• Single Gas Analyzer
• Electrochemical
• Optical
• Infrared
• Multiple Gas Analyzer
• Other Types 
 
Product Types Covered:
• Oxygen Analyzers
• Carbon Dioxide Analyzers
• Nitrogen Analyzers
• Other Product Types 

Modalities Covered:
• Handheld Analyzer
• Portable Analyzer
• Benchtop Analyzer

Technologies Covered:
• Electrochemical
• Optical
• Infrared
• Other Technologies 

End Users Covered:
• Hospitals
• Ambulatory Surgery Centers
• Pharma and Food
• Diagnostic Centers
• Research & Academic Institutions
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary             
              
2 Preface             
 2.1 Abstract            
 2.2 Stake Holders            
 2.3 Research Scope            
 2.4 Research Methodology            
  2.4.1 Data Mining           
  2.4.2 Data Analysis           
  2.4.3 Data Validation           
  2.4.4 Research Approach           
 2.5 Research Sources            
  2.5.1 Primary Research Sources           
  2.5.2 Secondary Research Sources           
  2.5.3 Assumptions           
              
3 Market Trend Analysis             
 3.1 Introduction            
 3.2 Drivers            
 3.3 Restraints            
 3.4 Opportunities            
 3.5 Threats            
 3.6 Product Analysis            
 3.7 Technology Analysis            
 3.8 End User Analysis            
 3.9 Emerging Markets            
 3.10 Impact of Covid-19            
              
4 Porters Five Force Analysis             
 4.1 Bargaining power of suppliers            
 4.2 Bargaining power of buyers            
 4.3 Threat of substitutes            
 4.4 Threat of new entrants            
 4.5 Competitive rivalry            
              
5 Global Medical Gas Analyzer Market, By Type             
 5.1 Introduction            
 5.2 Single Gas Analyzer            
 5.3 Electrochemical            
 5.4 Optical            
 5.5 Infrared            
 5.6 Multiple Gas Analyzer            
 5.7 Other Types            
              
6 Global Medical Gas Analyzer Market, By Product Type             
 6.1 Introduction            
 6.2 Oxygen Analyzers            
 6.3 Carbon Dioxide Analyzers            
 6.4 Nitrogen Analyzers            
 6.5 Other Product Types            
              
7 Global Medical Gas Analyzer Market, By Modality             
 7.1 Introduction            
 7.2 Handheld Analyzer            
 7.3 Portable Analyzer            
 7.4 Benchtop Analyzer            
              
8 Global Medical Gas Analyzer Market, By Technology             
 8.1 Introduction            
 8.2 Electrochemical            
 8.3 Optical            
 8.4 Infrared            
 8.5 Other Technologies            
              
9 Global Medical Gas Analyzer Market, By End User             
 9.1 Introduction            
 9.2 Hospitals            
 9.3 Ambulatory Surgery Centers            
 9.4 Pharma and Food            
 9.5 Diagnostic Centers            
 9.6 Research & Academic Institutions            
 9.7 Other End Users            
              
10 Global Medical Gas Analyzer Market, By Geography             
 10.1 Introduction            
 10.2 North America            
  10.2.1 US           
  10.2.2 Canada           
  10.2.3 Mexico           
 10.3 Europe            
  10.3.1 Germany           
  10.3.2 UK           
  10.3.3 Italy           
  10.3.4 France           
  10.3.5 Spain           
  10.3.6 Rest of Europe           
 10.4 Asia Pacific            
  10.4.1 Japan           
  10.4.2 China           
  10.4.3 India           
  10.4.4 Australia           
  10.4.5 New Zealand           
  10.4.6 South Korea           
  10.4.7 Rest of Asia Pacific           
 10.5 South America            
  10.5.1 Argentina           
  10.5.2 Brazil           
  10.5.3 Chile           
  10.5.4 Rest of South America           
 10.6 Middle East & Africa            
  10.6.1 Saudi Arabia           
  10.6.2 UAE           
  10.6.3 Qatar           
  10.6.4 South Africa           
  10.6.5 Rest of Middle East & Africa           
              
11 Key Developments             
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures            
 11.2 Acquisitions & Mergers            
 11.3 New Product Launch            
 11.4 Expansions            
 11.5 Other Key Strategies            
              
12 Company Profiling             
 12.1 Systech Instruments Ltd.            
 12.2 Thermo Fisher Scientific Inc            
 12.3 Geotechnical Instruments (UK) Ltd            
 12.4 Messer Group Gmbh               
 12.5 Air Liquide               
 12.6 Taiyo Nippon Sanso Corp.              
 12.7 Graco Inc.               
 12.8 Sable Systems International            
 12.9 Draegerwerk AG & Co. KGaA            
 12.10 QED Environmental Systems              
 12.11 Teledyne Technologies Incorporated            
 12.12 Illinois Instruments, Inc            
 12.13 Servomex Group Limited            
 12.14 Maxtec, LLC            
 12.15 Ntron Gas Measurement Ltd.            
              
List of Tables              
1 Global Medical Gas Analyzer Market Outlook, By Region (2021-2030) ($MN)             
2 Global Medical Gas Analyzer Market Outlook, By Type (2021-2030) ($MN)             
3 Global Medical Gas Analyzer Market Outlook, By Single Gas Analyzer (2021-2030) ($MN)             
4 Global Medical Gas Analyzer Market Outlook, By Electrochemical (2021-2030) ($MN)             
5 Global Medical Gas Analyzer Market Outlook, By Optical (2021-2030) ($MN)             
6 Global Medical Gas Analyzer Market Outlook, By Infrared (2021-2030) ($MN)             
7 Global Medical Gas Analyzer Market Outlook, By Multiple Gas Analyzer (2021-2030) ($MN)             
8 Global Medical Gas Analyzer Market Outlook, By Other Types (2021-2030) ($MN)             
9 Global Medical Gas Analyzer Market Outlook, By Product Type (2021-2030) ($MN)             
10 Global Medical Gas Analyzer Market Outlook, By Oxygen Analyzers (2021-2030) ($MN)             
11 Global Medical Gas Analyzer Market Outlook, By Carbon Dioxide Analyzers (2021-2030) ($MN)             
12 Global Medical Gas Analyzer Market Outlook, By Nitrogen Analyzers (2021-2030) ($MN)             
13 Global Medical Gas Analyzer Market Outlook, By Other Product Types (2021-2030) ($MN)             
14 Global Medical Gas Analyzer Market Outlook, By Modality (2021-2030) ($MN)             
15 Global Medical Gas Analyzer Market Outlook, By Handheld Analyzer (2021-2030) ($MN)             
16 Global Medical Gas Analyzer Market Outlook, By Portable Analyzer (2021-2030) ($MN)             
17 Global Medical Gas Analyzer Market Outlook, By Benchtop Analyzer (2021-2030) ($MN)             
18 Global Medical Gas Analyzer Market Outlook, By Technology (2021-2030) ($MN)             
19 Global Medical Gas Analyzer Market Outlook, By Electrochemical (2021-2030) ($MN)             
20 Global Medical Gas Analyzer Market Outlook, By Optical (2021-2030) ($MN)             
21 Global Medical Gas Analyzer Market Outlook, By Infrared (2021-2030) ($MN)             
22 Global Medical Gas Analyzer Market Outlook, By Other Technologies (2021-2030) ($MN)             
23 Global Medical Gas Analyzer Market Outlook, By End User (2021-2030) ($MN)             
24 Global Medical Gas Analyzer Market Outlook, By Hospitals (2021-2030) ($MN)             
25 Global Medical Gas Analyzer Market Outlook, By Ambulatory Surgery Centers (2021-2030) ($MN)             
26 Global Medical Gas Analyzer Market Outlook, By Pharma and Food (2021-2030) ($MN)             
27 Global Medical Gas Analyzer Market Outlook, By Diagnostic Centers (2021-2030) ($MN)             
28 Global Medical Gas Analyzer Market Outlook, By Research & Academic Institutions (2021-2030) ($MN)             
29 Global Medical Gas Analyzer Market Outlook, By Other End Users (2021-2030) ($MN)             
              
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.              

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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