Market Scenario:
Global Medical Gases And Equipment Market is expected to register a healthy CAGR over the forecast period. The market held a market value of USD 13.0 Billion in 2017 and is projected to grow at a CAGR of 7.5% during the forecast period. Medical gas is manufactured, packaged, and intended for administration to a patient during diagnosis, anesthesia, and therapy. Medical gases are the life-supporting element which gives direct influence in maintaining or saving the patient’s life. Medical gas equipment are the supply systems used by end users to provide or create or distribute medical gases in the piping system. Factors characterizing the market growth are worldwide growing geriatric population coupled with rising prevalence of chronic diseases, the presence of favorable government initiatives such as industry-friendly safety, and rising demand for home healthcare. Geriatric population is highly prone to develop chronic diseases, namely, diabetes, cancer, asthma, respiratory diseases, and cardiovascular diseases. The World Health Organization (WHO) projected worldwide population aged 60 years and above will grow from 962.0 million in 2017 to more than 2.0 billion in 2050 to 3.1 billion by 2100.
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Key players:
Atlas Copco, Air Liquide, Praxair Technology, Inc., Airgas, Inc., Messer Group GmbH, AB Matheson Tri-Gas, Inc., The Linde Group, TAIYO NIPPON SANSO CORPORATION, Amico Corporation, SCI Analytical, SOL S.p.A., Rotarex SA, GCE Holding AB, Air Products and Chemicals, Inc., and Matheson Tri-Gas, Inc. are some of the prominent players in the global 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 gases segment spearheaded the market in 2017 owing to worldwide increasing patient hospitalization and a surge in the number of patients suffering from respiratory diseases.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.The Global Medical Gases And Equipment Market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The medical gases and equipment market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European Medical Gases And Equipment Market has been segmented into Western Europe and Eastern Europe. The Western Europe Medical Gases And Equipment Market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.The Medical Gases And Equipment Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The medical gases and equipment market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Geographically, the Americas is expected to dominate the global medical gases and equipment market due to the domicile of key market participants, the presence of sophisticated healthcare infrastructure and target population, and growing elderly population & prevalence of chronic diseases such as diabetes, cancer, asthma, respiratory diseases, cardiovascular diseases, and other non-communicable diseases.Europe is also likely to hold substantial market share over the forecast period owing to the presence of various associations, namely, the MGA (Medical Gas Association) and EIGA (European Industrial Gases Association), and federations such as the European Federation of Precision Mechanical and Optical Industries EUROM.
The market in Asia-Pacific is expected to exhibit the fastest growth during the forecast period attributed to the presence of large population base in countries like China & India, improving healthcare infrastructure coupled with rising spending on healthcare.The medical gases and equipment market in the Middle East & Africa would register the modest market growth rate from 2018 to 2023. Majority of the regional market is anticipated to be governed by the Middle East region due to increasing healthcare sector reforms.
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