The Worldwide Industrial Gases Market Expected To Grow At A CAGR Of 8.58% During The Period 2016 To 2020

Date: 2016-09-18

The worldwide industrial gases market was valued at $47.2 billion in 2015, and it is expected to grow at a CAGR of 8.1% during 2016 – 2022.

Worldwide Industrial Gases market to grow at a CAGR of 8.58% during the period 2016 to 2020. A Industrial Gases is a testing device used in clinical laboratories to test the coagulation efficacy of blood and assess bleeding disorders such as hemophilia, Von Willebrand disease, Factor V Leiden thrombophilia disorder, polycythemia, leukemia, thrombus, and thrombocytopenia. The device is also used to diagnose patients with hemostatic disorders (both congenital and acquired) or identify the condition of thrombosis to treat and reduce complications. Additionally, the device is used to monitor patients who take anticoagulant medicines such as heparin, aspirin, and warfarin due to their side effects. For instance, heparin has to be constantly monitored to prevent the abrupt closing of any coronary artery or bypass graft.

There has been an increase in the number of strategic initiatives taken up by coagulation analyzer providers worldwide, which has contributed to the growth of the market. These initiatives aim to leverage each other’s unique selling propositions (USPs) such as strong customer bases, technology, strong financial capabilities, and R&D capabilities. This has resulted in many partnerships between companies in order to increase their market shares. These strategies have also helped companies venture into untapped markets, especially in developing countries, to increase their geographical reach by launching products in these countries and leveraging local players’ market presence.

Leading players are concentrating on investing more on research and development activities for discovering new medical devices. With this effort, they are aiming to adopt the changing trends and technological advances to manufacture new medical devices. Even though the global Industrial Gases market is set for a significant growth, it may face the challenge of the high cost of research and development activities.

Industrial Gasess are used in laboratories to test the coagulation effectiveness of blood. It is used to assess various bleeding disorders including hemophilia, factor V Leiden thrombophilia disorder, Von Willebrand diseases, thrombus, thrombocytopenia, leukemia, and polycythemia. Medicines such as aspirin, heparin, and warfarin carry certain side effects which are to be consistently monitored. For instance, heparin doses have to be monitored to avoid the closing of the coronary artery. Industrial Gasess are used by people who take such anticoagulant medicines to monitor their side effects.
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520



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