Medical gases are specific gases that are utilized for tranquilizing handling, medical purposes and research in biotechnology. Moreover, the gas equipment, such as chamber and veils are utilized to store and convey gas. Medical gases are frequently utilized in healthcare by healthcare specialists for diagnostic and treatment of the patients. Moreover, it has shifted use in the pharmaceutical and biotechnology industry, For example, cell culture studies, drug discovery and improvement and pharmaceutical manufacturing.
The Global Medical Gases and Equipment Market was valued at $8.3 Bn in 2018 and is forecasted to grow at a promising CAGR of 7.9% between 2018 and 2026, resulting in 2026 global sales of $15.25 Bn. The market is driven efficiently across different healthcare settings and rising government initiatives for supplying essential medical air safely. However, declining federal reimbursements for respiratory diagnostics & therapies and global helium shortage are some of the components hindering the growth of the market. Moreover, growing healthcare expenditure and technological advancements will provide ample opportunities to the market.
Medical Gases and Equipment Market depending on component, vacuum systems segment is dominated due to various technological advances such as a reduced noise level and easy cleaning system, vacuum systems segment will witness tremendous growth. This is automated devices that create a negative pressure in the piping system and pumps should alternate automatically. A piped vacuum system drastically reduces the number of portable vacuums pumps needed in a hospital. This vacuum supply equipment that will handle the peak demands for each system, including future expansions.
On July 2019 Atlas Copco has acquired Houston-based MGES Inc., a service supplier of medical gas solutions including distribution and service of medical gas systems.
The global Medical Gases and Equipment Market is segmented on the basis of Products, Components, Applications, End-users, and Regions.
Based on the Products: Pure Gas, gas mixture and biological atmosphere
Based on the Components: Manifolds, Vacuum Systems, Alarm Systems, Cylinders, Flowmeters, Medical Air Compressors, Outlets, Regulators, Masks, Compressors, and Hose Assemblies & Valves
Based on the Applications: Pharmaceutical Manufacturing & Research, Therapeutic and Diagnostic Applications
Based on the End Users: Hospitals, Ambulatory Care and Other End Users
Based on Regions: North America, Asia-Pacific, Europe, and LAMEA. Among that North America region is projected to witness high growth during the forecast period due to developing appropriation of technological advanced medical gases & equipment products, the high healthcare expenditure, highly developed healthcare systems in the US and Canada, and the presence of a large number of leading medical gases and equipment manufacturers in the countries. relentless development is significantly credited to the rising utilization of medical gases and equipment in the management of various respiratory diseases, such as COPD and asthma. In the United States, the medical gas sector is in the middle of a shift in standards.
Report Description: The report covers in-depth analysis of Global Medical Gases and Equipment Market. The report assesses the market products pipeline by-product (Pure Gas, gas mixture and biological atmosphere), by Component (Manifolds, Vacuum Systems, Alarm Systems, Cylinders, Flowmeters, Medical Air Compressors, Outlets, Regulators, Masks, Compressors and Hose Assemblies and Valves), by application (Pharmaceutical Manufacturing & Research, Therapeutic and Diagnostic Applications) by end-user (Hospitals, Ambulatory Care and Other). In addition, the report includes key insights on other development activities, including (but not limited to) – licensing (In and Out), collaborations, acquisitions, reimbursement, patent, and regulatory designations.
The report includes in-depth company profiles of key players in Global Medical Gases and Equipment Market. The company profile includes key information on the overview, financial highlights, product portfolio, business strategies, and key recent developments.
The report highlights information on emerging companies with potentially disruptive technologies and new market entrants.
Data Collation (Primary & Secondary)
In-house Estimation (Based on proprietary databases and Models)
Market-related information is assembled from both primary and secondary sources.
Primary sources involved participants from all global stakeholders such as experts from several related industries and suppliers that have been interviewed to obtain and verify critical information as well as to assess prospects of the market. The participants included are CXOs, VPs, and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications annual reports press releases along with paid sources such as Factiva, OneSource, Bloomberg among others.
Top-down and bottom-up approaches: The overall market size was used in the top-down approach to estimate the sizes of other individual submarkets (mentioned in the market segmentation by product, type of manufacturing, and disease) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained.