Medical Gases and Equipment Market is Expected to Reach $16.67 bn by 2026
The Medical Gases and Equipment Market was valued at US $ 8.6 billion in the year 2018 and is estimated to reach US $ 16.67 billion by 2026, at a CAGR of 8.62%.
Medical gases and equipment are used in hospitals during surgeries and ventilatory, operating rooms, intensive care unit (ICU) & emergency services. They are primarily used during the treatment of chronic respiratory disorders, laser surgery, sleep apnea, cryosurgery, and dental surgeries. Besides medical gases are used in several therapeutic, diagnostic, pharmaceutical manufacturing & research facilities. Licensing and marketing authorization from Regulatory Authorities is required to manufacture and distribute the medical gases.
According to WHO, the global presence of chronic respiratory conditions is 20.8% in rural and 19.4% in the urban areas. An increase in the prevalence of respiratory conditions increases the demand for medical gas and equipment supply. There is a medical gas supply set up in most of the hospitals and healthcare facilities around the world, with different regulation policies and color-coding policies of gas pipes. There is an increase in the number of hospitals and health care facilities due to awareness and urbanization. Registration of newer health facilities is progressing rapidly, approximately 19,217 as estimated by WHO in 2017 worldwide. This might boost the medical gas and equipment supply-demand in the forecast period.
The key market drivers for medical gases and equipment include an increase in the use of medical gases in surgeries, growing geriatric population, an increase in the prevalence of respiratory disorders especially asthma & COPD, increasing hospitalization, emergency visits, surgeries, anesthesia, and ventilated cases.
The major market restraints are purity check of gases as impurities present in gases lead to infections, stringent regulatory process guidelines, and licensing approvals, inspecting medical gas supply units periodically and complexity of medical gas production, storage, and delivery. The major challenges are the modernization of medical gas standards and the means of supply in hospital & health-care facilities. Highly developing healthcare systems and investments in the development of patented technologies in medical gases and equipment will impact the market growth positively ion forecast period.
Major companies for Medical Gases and Equipment market include The Linde Group, Praxair Technology Inc, Atlas Copco, Amico Corporation, Air Products and Chemicals Inc. and Taiyo Nippon Sanso Corporation.
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• CAIRE, a Georgia-based oxygen supply manufacturer, has launched a new FreeStyle® Comfort® portable oxygen concentrator equipped with autoSAT® technology
• Kitajima Sanso, medical gas distributor builds medical oxygen filling plant in Myanmar
• Linde AG has agreed to sell its South India business to Japan’s Air Water Inc. (AWI) as part of a deal to complete its global merger with US-based Praxair Inc
• Recently, Cavagna Group designed the Viproxy NEOS, a new digital medical valve integrated with pressure regulator (VIPR)
Medical Gases and Equipment Market Based on Product Type (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn):
• Medical Gases
- Nitrous Oxide
- Carbon dioxide
- Medical Air
• Medical Gas Mixtures
- Lung Diffusion
- Blood Gas
- Sterilant Gas
- Medical Drug Gas
- Breathing Zone Monitoring
• Medical Gas Equipment
- Air Compressors
- Vacuum systems
- Flow Systems
- Alarm Systems
Medical Gases and Equipment Market Based on Application Type (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn):
- Pharmaceutical manufacturing & Research
Medical Gases and Equipment Market Based on Geographic Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- North America
• Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
• Provides a Comparative Analysis of Key Marketed and Pipeline Products.
• Provides Key Information on Players involved.
• Provides a Complete Overview of Market Segments and the Regional Outlook.
• Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Medical Gases and Equipment Market, 2015 to 2017
- Forecast of the Medical Gases and Equipment Market Growth till the year 2026
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Medical Gases and Equipment Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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