Market Trends of Medical Gas Analyzer Industry
This section covers the major market trends shaping the Medical Gas Analyzer Market according to our research experts:
Hospitals Segment is Expected to Grow with High CAGR During the Forecast Period
The medical gas analyzer is more frequently required and used in the hospitals as the ICU, and Operative rooms require the medical gas analyzers. The number of patients hospitalized is increasing every year with the increase in the population.
Developing countries are witnessing rapid growth in the number of hospitals which is the prime factor responsible for the growth of this segment in these countries. As a result, the hospital's segment in the end-user will be having the dominant share in the global medical gas analyzer market.
Another major end-user segment of the medical gas analyzer is the pharma and food industries which are also expected to grow with a promising CAGR over the forecast period. This is majorly attributed to the increased adherence to the practice of modified atmospheric packaging in the pharma industry. The increased number of pharmaceutical and food industries in the emerging Asian countries such as India and China is propelling the demand for medical gas analyzers.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall gas analyzer market, throughout the forecast period. This is due to the increasing adoption of new technology and the availability of advanced healthcare infrastructure. In the North America region, the United States holds the largest market share due to factors such as increasing count of geriatrics, along with the growing healthcare industry, which is anticipated to stimulate the demand in this region.]
Furthermore, the Asia-Pacific region is expected to grow with the high growth rate during the forecast period and this is due to factors such as an increasing number of diseases, rising patient hospitalization and the growing air pollution specifically in countries such as India, China, and Japan.
