Medical Manifolds Market Analysis Forecast 2016 - 2024
In hospitals, medical gases are largely used to provide long-term support to patients in intensive care units (ICUs). Medical air is used in hospitals in large quantities and hence, it is feasible to produce it on site, rather than storing it in gas cylinders. Medical gas supply in a hospital needs to fulfill the stringent requirements of the installation standards and safety of all patients in the hospital. The need for medical manifolds primarily arises from strict rules and requirements for the medical gas supply systems. For instance, in July 2012, the U.S. Congress passed a bill putting into effect the Food & Drug Safety & Innovation Act. This act provides selected gases as approved medications for common medical gas mixtures; provides manufacturers with the protection of their intellectual property rights for new products; and establishes a certification process for medical gas production. These factors serve as a driver for the market.
Increasing awareness regarding the medical gas safety amongst manufacturers and consumers is a major factor that drives the global medical manifolds market. Growth of the health care infrastructure has led to rise in the number of hospitals, which acts as a driver for the global medical manifolds market. In addition, the establishment of industry-friendly associations such as Medical Gas Association (MGA), Compressed Gas Association (CGA), and Gases & Welding Distributors Association (GAWDA) is fueling the market. Constant efforts made by the members of CGA and GAWDA have rendered the actualization of the U.S. Food and Drug Administration Safety and Innovation Act. These associations help in chalking out strategies that would ultimately help the market thrive and flourish. Therefore, establishment of such associations acts as a driver for the market.
The global medical manifolds market has been segmented by product type and geography. In terms of product, the medical manifolds market has been categorized into simplex manifold systems, cradle pack manifolds, dual manifold systems, semi-automatic manifold systems, automatic manifold systems, digital automatic manifold systems, and others.
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Based on the region, the global fermented ingredients market has been segmented into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a significant share of the global market for medical manifolds, owing to presence of industry-friendly organizations such as CGA and GAWDA. These associations consist of industry experts working in reputed organizations. The members of these associations work continuously to make value additions to the market by understanding the market trends and implementing the policies that eventually work out in favour of the market. Europe is considered to be the second largest market for medical manifolds, due to enhanced health care processes and growing health concerns in the region. Moreover, rising geriatric population with the need for hospitalization augments the market in the region.
Major factors that would drive the market in Asia Pacific include rapid development of health care infrastructure and presence of large population in the region. High prevalence of pulmonary diseases and emergency medical conditions provides countries such as India and China with multiple untapped opportunities. Latin American countries such as Mexico and Brazil are expected to have considerable growth potential for the medical manifolds market due to evolving health care infrastructure, and increasing medical expenditure.
Major players operating in the global market for medical manifolds include Praxair, Inc., BeaconMedaes LLC, Merit Medical Systems, Inc., Smiths Group plc, Drägerwerk AG & Co. KGaA, Pattons Medical, Genstar Technologies, and Gascon Systems Pty Ltd.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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