MEDICAL PURITY ANALYZER MARKET ANALYSIS

Market Challenges And Opportunities

Global Medical Purity Analyzer Market - Drivers

Increasing adoption of inorganic strategies by key players

Increasing adoption of inorganic strategies by key players, such as partnerships as well as acquisitions, are expected to drive the market growth over the forecast period. For instance, in September 2020, Teledyne Technologies Incorporated, a provider of sophisticated electronic components, instruments, and communications products, announced the successful acquisition of 3M, a technology company, which manufactures industrial, safety, and consumer products for US$ 230 million in cash. The gas and flame detection business includes Oldham, Simtronics, Gas Measurement Instruments (GMI), Detcon, and select Scott Safety products.

Rising Geriatric Population

Rising geriatric population which led to the increased hospitalization rates for the treatment of various diseases is expected to drive the market growth over the forecast period. For instance, in October 2022, according to the World Health Organization (WHO), in 2020, the number of people aged 60 years and older was 1.2 billion and this number will increase to 1.4 billion by 2030 and 2.1 billion by 2050.

Global Medical Purity Analyzer Market: Restraints

Poor stability and greater environmental impact of medical analyzers

Factors such as poor stability and greater environmental impact of medical analyzers are expected to hamper the growth of the market over the forecast period. For instance, in January 2020, according to an article published by Avcray, a manufacturer of sensors for measuring oxygen concentration, gas medical analyzers provide poor stability and have a greater environmental impact on the analysis of gases. In order to avoid these issues, limitations on current types of gas analyzers need to be addressed.

Market Challenges

Finding a balance between technological advancements and environmental impact remains a critical challenge in the medical purity analyzer market.