The demand within the global market for medical gas analyzer has been rising on account of key advancements in the healthcare and medicine industries across the globe, finds Transparency Market Research (TMR). The market players who have been thriving in the global market for medical gas analyzer have been concentrating on improving the quality and increasing the reliability of their products. Furthermore, these market players in the global gas analyzers market have attained a level of expertise with execution of business strategies, and this factor shall also impel their growth meter. It is projected that the competitive landscape of the global market for gas analyzers would make a fundamental shift from a consolidated one to a fairly fragmented one as new market players make their way into the market.
The global market for medical gas analyzer is also expected to witness the entry of new and amateur players who could disrupt the dynamics of this market’s competitive landscape. While the solid position attained by the leading vendors in the global medical gas analyzers market remains unchallenged, the entry of too many new players could invite a strategic business response from the former. Mergers, partnerships, and acquisitions could be a salient feature of the competitive landscape of the global market for medical gas analyzers.
Transparency Market Research (TMR) finds that the global market for medical gas analyzer would expand at a sluggish CAGR of 3.1% over the period between 2016 and 2024. Furthermore, the global medical gas analyzers market is expected to accumulate revenues worth US$179.24 mn by 2024, rising up from a value of US$136.91 mn in 2015. On the basis of geography, the global market for medical gas analyzers is expected to reap away the highest revenues from North America in the years to come.
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Relevance of Gas Analyzers to Propel Demand
The growing number of hospitals and healthcare centers is the most significant trend that has contributed towards the growth of the global market for medical gas analyzers in recent times. Furthermore, the presence of ambulatory surgical centers that are necessary equipped with medical gas analyzers has also taken market demand to skyrocketing levels over the past decade. Moreover, it is safe to prognosticate that the global market for medical gas analyzers would tread on a lucrative growth path as diagnostic centers and research institutes take a leap in their game of progress. The investment made by the government towards deployment of cutting-edge technologies in the healthcare industry has also propelled demand in the global market for medical gas analyzers.
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High Costs of Deployment to Hamper Market Growth
The demand within the global market for medical gas analyzers has been rising on account of changes, advancements, and reforms in the way the medical and healthcare industries function. However, the high costs of deployment for medical gas analysers still remain a matter of concern that daunts the healthcare industry of several emerging economies. Despite this negative toll on the market, the demand within the global market for medical gas analyzers is expected to keep rising as medical tourism gathers swing.