The Europe Oxygen Flow Meters Market would witness market growth of 5.2% CAGR during the forecast period (2021-2027).
The oxygen flow meters market would be driven by the constant technological developments in different kinds of medical devices. For example, makers have been aiming to create highly precise and reliable equipment that can be utilized for several applications like calculating blood glucose levels among others or monitoring blood pressure. As a result, the demand for such products across different end-user segments such as clinics and hospitals has been increased, hence accelerating the development of the oxygen flow meters market during the forecast period.
Some years back, the consumption and utilization of these gases were neither measured nor monitored, and whenever done, it was mostly an unclear & faulty estimation and recorded on paper manually. Various healthcare institutions rely on the rate at which the cylinders get vacant in order to estimate the rate and amount of gas utilized. This resulted in various kinds of problems like the amount of gas in varied size of the cylinder can differ substantially, leaks can go undiscovered, and complete gas consumption and maximum consumption cannot be precisely determined. Therefore, hospitals face various issues to manage overall costs and provide invoicing costs to all sections and departments.
With the growing cases of chronic diseases, the healthcare facilities in the region significantly prefer the utilization of oxygen flow meters for the treatment. This factor is expanding the European oxygen flow meters market. Moreover, the high availability of these oxygen flow meters on ecommerce channels is likely to fuel the demand of the product in the upcoming years.
Various countries of the region were hit hard by the outbreak of the COVID-19 pandemic. As a result, there was the massive requirement of oxygen in the hospitals which has surged the demand & growth of the oxygen flow meters market during the forecast period. The high demand for oxygen in small as well as big healthcare facilities is boosting the demand for oxygen flow meters over the forthcoming years.
The Germany market dominated the Europe Chemical Oxygen Flow Meters Market by Country 2020, thereby, achieving a market value of $7.3 million by 2027. The UK market is showcasing a CAGR of 6.6% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 8.2% during (2021 - 2027).
Based on Type, the market is segmented into Plug-in Type, Double Flange Type and Others. Based on Application, the market is segmented into Healthcare, Industrial, Aerospace, Chemical, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Oxygen Flow Meters Market Size will Hit $1.5 billion by 2027, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dwyer Instruments LTD. (Arcline Investment Management), HERSILL Ohio Medical (Tenex Capital Management), Precision Medical, Inc., Penlon (BPL Medical Technologies), DZ Medicale, Burak Metering, Megasan Medical, SHANGHAI AMCAREMED TECHNOLOGY Co., LIMITED, and Heyer Medical (AEONMED Group).
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