The Global Medical Purity Analyzer Market, By Type (Laser Analyzer, Infrared Analyzer, Zirconia Analyzer, Paramagnetic Analyzer, Thermal Conductivity Analyzer, Flame Ionization Analyzer, Gas Chromatography Analyzer, and Others), By Application (Medical Gas Production, Medical Gas Verification, and Others), By End User (Hospitals, Academic and Research Institutes, Biopharmaceutical Companies, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 403.2 Million in 2023 and is expected to exhibit a CAGR of 5.8% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting growth strategies, such as partnerships and acquisitions, and increasing technological advancements by market players which will drive the global medical purity analyzer market growth during the forecast period. For instance, in August 2020, International Gas Detectors (IGD), a manufacturing company that sells control panels, gas detection products, spare parts, and accessories has announced a new partnership with SG Safety AS, a supplier of safety equipment. This partnership further extends IGD’s global distributor and partner network. This union enables IGD and SG Safety AS to promote and provide access to IGD’s addressable gas detection technology.
Global Medical Purity Analyzer Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spreads quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others, faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global medical purity analyzer market owing to the increasing demand for medical oxygen and governments were scaling up their existing facilities to fill the oxygen demand. For instance, in September 2021, according to an article published in Environmental Science and Pollution Research Journal, during the COVID-19 pandemic, long-term oxygen therapy is required at both hospitals and in-home settings that the respiratory physician should supervise for optimal treatment, which increases the demand for medical oxygen.
Global Medical Purity Analyzer Market: Key Developments
In December 2022, Yokogawa Electric Corporation, a Japan-based multinational electrical engineering and software company, announced that it developed ZR802S explosion-proof converter. ZR802S converter supports the IECEx, FM, ATEX, CSA, China Ex, Korea Ex, India Ex, and Taiwan Ex explosion-proof standards. It is intended for use with the ZR22S explosion-proof zirconia oxygen detector, an existing Yokogawa product with a highly durable zirconia sensor that is highly dust resistant and easy to install and replace. Together, ZR802S converter and ZR22S detector comprise a complete oxygen analyzer system.
On January 5, 2023, QED ENVIRONMENTAL SYSTEMS, a provider of environmental technology solutions, announced the launch of Landtec Biogas 3000 fixed gas analyzer. The device is a next-generation system offering continuous monitoring of the complete gas production process.
In February 2020, QED ENVIRONMENTAL SYSTEMS, a provider of environmental technology solutions announced the LANDTEC BIOGAS 3000 and the BIOMETHANE 3000 Fixed Gas Analyzers have received certification by the Canadian Standards Association (CSA) group. The CSA safety mark signifies that the equipment has been independently tested for compliance with North American and Canadian safety standards.
Browse 34 Market Data Tables and 26 Figures spread through 220 Pages and in-depth TOC on “Global Medical Purity Analyzer Market”- Forecast to 2030, Global Medical Purity Analyzer Market, By Type (Laser Analyzer, Infrared Analyzer, Zirconia Analyzer, Paramagnetic Analyzer, Thermal Conductivity Analyzer, Flame Ionization Analyzer, Gas Chromatography Analyzer, and Others), By Application (Medical Gas Production, Medical Gas Verification and Others), By End User (Hospitals, Academic and Research Institutes, Biopharmaceutical Companies, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Medical Purity Analyzer Market:
- The global medical purity analyzer market is expected to exhibit a CAGR of 5.8% during the forecast period, and this is attributed due to increasing product launches by the key market players for the growth of the global medical purity analyzer market. For instance, in February 2021, ENVEA, a manufacturer of ambient, emission, and process monitoring systems, announced the launch of MIR 9000P, its new portable multi-gas monitor designed to meet the specific needs of regulatory and periodic stack emission monitoring, and help users save time along their on-site day.
- Among end user, the hospitals segment is expected to exhibit growth in the global medical purity analyzer market over the forecast period, and this growth is attributed to the use of medical gases in medical procedures such as surgeries, intensive care, and emergency response, as well as the high prevalence of medical procedures performed worldwide. For instance, in July 2022, every year, more than 2 million people received medical oxygen, and according to the National Health Service, approximately 17.5% of hospital patients in the U.K. are receiving oxygen at any given time, which equates to around 18,000 patients every day.
- Among type, the laser analyzer segment is expected to hold a dominant position in the global medical purity analyzer market during the forecast period, and this growth is attributed to provide highly precise detection and is ensured by an advanced signal processing procedure that enables real-time validation of measurements, greatly reducing the need for calibrations and eliminating consumables and sample pre-treatments. For instance, in June 13 2023, Drägerwerk AG & Co. KGaA, a global medical and safety technology product manufacturer unveiled new portable laser gas detectors for personal monitoring X-am 5800. The portable X-am 5800 multi-gas detector simultaneously measures up to six gases, depending on the sensors installed. It represents a new addition to the Dräger X-am series, which already includes the X-am 2800.
- The major market players operating in the global medical purity analyzer market include AMETEK, Inc., California Analytical Instruments, Inc., Drägerwerk AG & Co. KGaA, Eaton, Emerson Electric Co., Honeywell International Inc., Spectris, Teledyne Technologies Incorporated, Vasthi Instruments, NOVAIR MEDICAL, Roscid Technologies, Linde plc., Praxair S.T. Technology, Inc., Fluke Process Instruments, MEECO1, and MATHESON TRI-GAS, INC