Medical Manifolds Market size was estimated at $551.7 Million in 2019 and is expected to reach $897.5 Million by 2027, growing at a CAGR of 7.2% during the forecast period of 2020 to 2027.
Medical manifolds are pipeline systems with a variety of openings, they are specially devised systems in which two or more cylinders are joined to a single pipeline to pull up the availability of gas at the source.
Medical manifolds essentially function to reduce the pressure from the cylinders with high pressure to the needed pressure level, which is easy to use in the hospital pipeline. These manifolds are mostly used in hospitals to provide long term support to patients in intensive care units.
Rising awareness pertaining to medical gas safety amongst the producers and consumers is a key cause driving the market for it. The health care infrastructure is also on the rise and has therefore caused an increase in the number of hospitals acting as a driving force for the global manifolds market. Additionally, the establishment of associations that are industry-friendly like medical gas association, compressed gas association, and gases, and welding distributor association is seen to be fuelling the market extensively.
The members of CGA and GAWDA have been making consistent efforts and have also further helped in the actualization of the US Food and drug administration safety and innovation act. These organizations contribute to the devising of plans and strategies ultimately thriving the market.
Medical Manifolds Market Growth and Trends
Medical manifolds function in reducing pressure from cylinders with high pressure to the required level of pressure, which is practicable to use in the hospital pipeline where medical gases are largely used to provide long-term support to patients in intensive care units. Medical air being used in hospitals in large quantities makes it feasible to produce it on site rather than storing it in gas cylinders, thus generating a demand for medical manifolds in the hospital segment. The requirement for medical manifolds across the globe mainly arises from strict rules and requirements for medical gas supply systems. Certain legal acts provide selected gases as approved medications for common medical gas mixtures, protects the intellectual property rights of manufacturers, and establishes a certification process for the production of medical gas. These factors are effective in driving the market growth for market. Increasing consciousness regarding medical gas safety amongst manufacturers and consumers integrates with the factors influencing the global medical manifolds market. Growth of the health care infrastructure resulted in an increase in the number of hospitals, which further stimulates the global medical manifolds market segmented by product type and geography. Based on regionally demarcated segments, owing to the presence of industry-friendly organizations and associations, North America accounts for a significant share of the global market for medical manifolds. A rise in the geriatric population with the requirement of hospitalization augments the market in the region. Important factors that would foster the medical manifolds market in the Asia Pacific region include rapid growth and development of health care infrastructure and the presence of a large population in the region.
The rate at which the market for medical manifolds will increase in underdeveloped nations is a matter of concern as it depends on the government’s budgetary allocation to promote growth of the healthcare segment.
Medical Manifolds Market Competition
Key companies operating in this industry are Merit Medical Systems, Smiths Medical, B. Braun, Fresenius Kabi, ICU Medical, Demax Medical, Argon Medical Devices, Perouse Medical and Bicakcilar.
• Medical Manifolds Market Revenue Estimation and Forecast (2020 – 2027)
• Production Estimation and Forecast (2020 – 2027)
• Sales/Consumption Volume Estimation and Forecast (2020 – 2027)
• Breakdown of Revenue by Segments (2020 – 2027)
• Breakdown of Production by Segments (2020 – 2027)
• Breakdown of Sales Volume by Segments (2020 – 2027)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Medical Manifolds Market Segmentation
Product Outlook (Revenue, USD Million, 2020 - 2027)
• 2-Gang Manifold
• 3-Gang Manifold
• 4-Gang Manifold
• 5-Gang Manifold
Application Outlook (Revenue, USD Million, 2020 - 2027)
• Interventional Radiology
• Interventional Cardiology
Country (Revenue, USD Million, 2020 - 2027)
• United States
• South Korea
• Rest of Asia Pacific
• Rest of Europe
• Rest of South America
Middle East and Africa
• Saudi Arabia
Medical Manifolds Market Companies
• Merit Medical Systems
• Smiths Medical
• B. Braun
• Fresenius Kabi
• ICU Medical
• Demax Medical
• Argon Medical Devices
• Perouse Medical
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