The report gives detail analysis of the “Medical Gases and Equipment Market” structure along with forecast, market size & share, different segments and developing trends of the industry.
Medical Gases and Equipment Market Highlights:
The Global Medical Gases and Equipment Market held a market value of USD 13.0 billion in 2017 and is projected to grow at a CAGR of 7.5% over the forecast period. Medical gas is defined as the gas is manufactured, packaged, and used for administration to patients in diagnosis, anesthesia, and therapy. Medical gases are the life-saving element that provides direct influence in maintaining the life of patients. Medical gas equipment are the supply systems used by hospitals & clinics, academic & research institutions, pharmaceutical & biotechnology industries to create or distribute medical gases in the piping system. Few of the market growth factors are globally growing geriatric population coupled with increasing prevalence of chronic diseases, the presence of favorable government initiatives such as industry-friendly safety, and rising demand for point of care products & home healthcare. The Centers for Disease Control and Prevention (CDC) reported that, in the US, 6 in 10 adults have a chronic disease and 4 in 10 adults have two or more chronic diseases such as heart disease, cancer, chronic lung disease, stroke, diabetes, and chronic kidney disease (CKD)
Medical Gases and Equipment Market Regional Analysis:
The Global Medical Gases and Equipment Market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. On the basis of region, the Americas is likely to dominate the global medical gases and equipment market owing to the increasing adoption of advanced technologies and the presence of major market players & target population in the U.S. and Canada. Europe will hold the second largest market position over the forecast period due to flourishing growth in medical device industry and the presence of medical gas associations, viz. the MGA (Medical Gas Association) and EIGA (European Industrial Gases Association)
The Asia-Pacific is anticipated to witness comparatively higher CAGR during the forecast period owing to growing population in India and China, increasing awareness among patients, caregivers and healthcare professionals about medical gases, and developing healthcare infrastructure in the region. The Middle East & Africa has the least share of the global medical gases and equipment market. Additionally, the major market share of the region would be held by the Middle East region attributed to rising incidences of conventional diseases and increasing technological innovations in the UAE, Saudi Arabia and Qatar.
Medical Gases and Equipment Market Segmentation:
The global medical gases and equipment market has been segmented into product, application, and end user.By product, the market has been segmented into medical gases, medical gas mixtures, and medical gas equipment. The medical gases segment has been further categorized into nitrogen gas, nitrous oxide gas, oxygen gas, carbon dioxide gas, helium gas, and medical air.
The medical gas mixtures segment is further categorized into medical laser gas mixtures, medical drug gas mixtures, sterilant gas mixtures, lung diffusion mixtures, blood gas mixtures, aerobic gas mixtures, anaerobic gas mixtures, and breathing zone monitoring calibration standard. The medical gas equipment is further categorized into air compressors, vacuum systems, flow meters, cylinders, alarm systems, masks, and others (manifolds, regulators, and outlets).
On the basis of application, the market has been segmented into therapeutic applications, diagnostic applications, pharmaceutical manufacturing & research, and others. The therapeutic applications segment is further categorized into respiratory therapies, cardiovascular therapies, anesthesia delivery, and others.Based on end user, the market has been segmented into hospitals & clinics, academic & research institutions, pharmaceutical & biotechnology companies, and home healthcare.
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Medical Gases and Equipment Market Key Players:
Some of the prominent players in the global medical gases and equipment market are Atlas Copco, Praxair Technology, Inc., Air Liquide, Airgas, Inc., Amico Corporation, Messer Group GmbH, AB Matheson Tri-Gas, Inc., The Linde Group, TAIYO NIPPON SANSO CORPORATION, SCI Analytical, SOL S.p.A., Rotarex SA, GCE Holding AB, Air Products and Chemicals, Inc., and Matheson Tri-Gas, Inc.