Medical Purity Analyzer Market,2020-2027

 

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).

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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.

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.

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.

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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.

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