A new Transparency Market Research report states that the global medical gases and equipment market stood at US$5.3 bn in 2011 and is predicted to reach US$9 bn in 2018. It is predicted to expand at a CAGR of 8.0% CAGR between 2012 and 2018. The title of the report is “Medical Gases and Equipment Market – Global Industry Analysis, Size, Share, Growth and Forecast, 2012 – 2018.”
Medical gases are gases utilized in direct or indirect applications within the healthcare industry. Medical gas equipment is equipment used for producing medical gases. Medical gases are either utilized within medical procedures, primarily as sterilants and coolants, or are directly administered to patients. In addition, medical gas supply equipment in healthcare facilities and hospitals is essential for supplying nitrous oxide, piped oxygen, carbon dioxide, medical air, and nitrogen to numerous parts of the facility.
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As mentioned in the report, the implementation of the U.S. Food and Drug Administration Safety and Innovation Act in July 2012 and the expansion of the home healthcare market are amongst the prime factors fuelling the market for medical gases and equipment. In addition, the increasing awareness about the safety benefits of medical gases amongst consumers and manufacturers has also boosted the market. Furthermore, the introduction of associations such as the Medical Gas Association (MGA, U.K.), the Gases and Welding Distributors Association (GAWDA), and the Compressed Gas Association (CGA) has also impacted the market positively. On the other hand, the rising thefts of medical cylinders and gas and the shortage of helium globally are amongst the key factors inhibiting the growth of the market for medical gases and equipment
On the basis of product, the medical gas market is segmented into medical pure gases and medical gas mixtures. Amongst these, the segment of medical pure gases is further segmented into helium, oxygen, nitrogen, carbon dioxide, and nitrous oxide. On the other hand, the segment of medical gas mixtures is further segmented into nitrous oxide-oxygen mixtures, carbon dioxide-oxygen mixtures, helium-oxygen mixtures, ethylene oxide, aerobic mixtures, blood gas mixtures, anaerobic mixtures, lung mixtures, and laser gas mixtures. On the basis of product, the medical equipment market is segmented into manifolds, hose assemblies and accessories, outlets, cylinders and accessories, alarm systems, regulators, flowmeters, medical air compressors, masks, and vacuum systems.
In terms of geography, the report segments the market into Europe, North America, Asia, and Rest of the World (RoW). Amongst these, the region of Asia is the most lucrative market for medical gases and equipment and is predicted to rise at the swiftest CAGR of 9.20% from 2012 to 2018. This is owing to the increasing occurrence of pulmonary diseases and increasing population base within China and India.
According to the report, the prominent players operating in the market for medical gases and equipment are Linde Gas, BeaconMedaes LLC, Matheson Tri-Gas Inc., Air Liquide, Praxair Inc., Air Gas Inc., Air Products and Chemicals Inc., and Medical Gas Solutions, among others.