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Press Release: Medical Purity Analyzer Market to Surpass US$ 497.0 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Medical purity analyzers are instruments used for determining and measuring qualitative and quantitative composition of pure medical gases, or mixtures of medical gases. Medical gases used in hospitals and other healthcare settings mainly comprise of medical air, oxygen, carbon di-oxide, nitrogen and nitrous oxide. Medical purity analyzers include equipment and instruments such as vacuum systems, regulators, flow meters, monitoring systems (such as alarms and monitors), fluidics (valves, pumps, tubing), sealing solutions, and concentrators. These instruments analyze the concentration of medical gases and their mixtures, such as oxygen-nitrous oxide, etc. along with their purities, and presence of any impurities such as water vapors, and other organic and inorganic impurities, in the medical gases.
The global medical purity analyzers market is estimated to be valued at US$ 344.0 million in 2020 and is expected to exhibit a CAGR of 5.4% over the forecast period (2020-2027).
Figure 1. Global Medical Purity Analyzer Market Share (%) in Terms of Value, By Region, 2020
The rising prevalence of chronic diseases is expected to drive the market growth over the forecast period
Increasing prevalence of chronic diseases such as cancer, strokes, and respiratory diseases is expected to drive demand for medical purity analyzers for treatment of patients with medical gases.
According to the World Health Organization’s 2018 report, cancer is the second leading cause of death globally, and is responsible for an estimated 9.6 million deaths in 2018. Similarly according to the same source globally, about 1 in 6 deaths is due to cancer.
The American Public Health Association stated that an estimated 70% of the deaths in the U.S. in 2017 resulted from chronic diseases.
Moreover, according to data published by the Centers for Disease Control and Prevention, in 2018, one out of two adults in the U.S. was suffering from a chronic disease.
Figure 2. Global Medical Purity Analyzer Market Share (%), by Type, 2020
Increasing adoption of inorganic growth strategies such as acquisitions and collaborations by key players operating in the market is expected to drive the market growth over the forecast period
Adoption of inorganic growth strategies by key players help them to expand their product portfolio and increases their geographic presence in the global market
For instance, in January 2019, QED Environmental Systems, a manufacturer of environmental monitoring and remediation equipment, announced a strategic partnership with Germany-based, Siegrist GmbH, a gas analyzers manufacturing company. As a result of this acquisition, QED Environmental Systems expanded its product portfolio in the global medical purity analyzer market.
Moreover, in September 2018, MATHESON, a subsidiary of TAIYO NIPPON SANSO CORPORATION Group, acquired Weld Specialty Gas & Equipment, Inc., Milwaukee, Wisconsin, U.S., a supplier of medical gas analyzer equipment. As a result of this acquisition, MATHESON increased its presence in four locations in the southeastern Wisconsin where Weld Specialty Gas & Equipment, Inc., operated.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2020: | US$ 344.0 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 5.4% | 2027 Value Projection: | US$ 497.0 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
AMETEK, California Analytical Instruments, Drägerwerk AG, Eaton Corporation PLC, Emerson Electric Co., Honeywell International Inc., Spectris PLC, Teledyne Analytical Instruments, Vasthi Engineers Pvt Ltd, Novair Medical, Roscid Technologies, The Linde Group, Praxair, Inc., Fluke Corporation, MEECO Inc. and Matheson Tri-Gas. |
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| Restraints & Challenges: |
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Global Medical Purity Analyzer Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries around the globe with the World Health Organization declaring it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 36.2 million infected individuals worldwide as of October 8, 2020. Furthermore, the global COVID-19 pandemic has led to a sudden pause in manufacturing activities across the globe, thereby affecting demand for medical purity analyzers, as well as production and processing of medical purity analyzers.
Global Medical Purity Analyzer Market: Restraint
However, changing guidelines regarding calibration standards of analyzers and the high cost of novel medical purity analyzer are some major factors restricting the growth of global medical purity analyzer market over the forecast period.
Key Players
Major players operating in the global medical purity analyzer market are AMETEK, California Analytical Instruments, Drägerwerk AG, Eaton Corporation PLC, Emerson Electric Co., Honeywell International Inc., Spectris PLC, Teledyne Analytical Instruments, Vasthi Engineers Pvt Ltd, Novair Medical, Roscid Technologies, The Linde Group, Praxair, Inc., Fluke Corporation, MEECO Inc. and Matheson Tri-Gas.
Medical purity analyzer are used for gas production and verification, it also used to measures the purity of gases such as oxygen based on the physical or chemical properties using techniques such as laser, infrared, zirconia, paramagnetic, etc. Medical purity analyzers are used for the analysis, detection, and measurement of pure or a mixture of medical gases in hospitals and healthcare industries. Medical gases consist of medical air, oxygen, carbon dioxide, nitrogen, and nitrous oxide. Medical gases enable easy penetration through natural physiological barriers. After administration in the system, the concentration of these gases is measured and analyzed so that patients’ condition can be stabilized after surgery.
Market Dynamics
Approval and launch of novel products, and adoption of inorganic growth strategies such as collaborations and acquisitions by key players operating in the market is expected to drive the growth of global medical purity analyzer market over the forecast period. For instance, in July 2017, Emerson, a global technology and engineering company launched the Rosemount CT5800 continuous gas analyzer. It is the first gas purity analyzer measuring up to 12 components simultaneously. The CT5800 is the first Quantum Cascade Laser (QCL) analyzer designed for industrial process applications requiring Class I, Division 2 hazardous area certification built within a flameproof enclosure.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 37 market data tables and 35 figures on "Medical Purity Analyzer Market” - Global forecast to 2027
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