Medical Gases and Equipment Market Growth, Growth Prediction, Trends, Upcoming Trends and Opportunity Assessment 2027
Market Highlights:
The Global Medical
Gases and Equipment Market Growth 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)
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Regional Analysis:
The Global Medical Gases and Equipment Market Growth 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 Growth 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 Growth. 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.
Segmentation:
The global Medical Gases and Equipment Market Growth 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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Key Players:
Some of the prominent players in the global Medical Gases
and Equipment Market Growth 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.
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