Medical Gases and Equipment Market by Product (Medical Gases, Medical Gas Mixtures, Medical Gas Equipment), by Application (Therapeutic, Diagnostic, Pharmaceutical Manufacturing and Research), by End-users (Hospitals, Home Healthcare, Emergency Services, Pharmaceutical Industry), and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
The Global Medical Gases and Equipment market has been estimated at USD 15.5 Billion in 2016 and is projected to reach USD 23.31 Billion by 2021, at a CAGR of 8.5% during the forecast period from 2016 to 2021. Medical gases and pharmaceutical gases are specialized gases used for medical purposes, drug processing and various applications of biotechnology.
Medical gases include pure gases and mixture of gases for various medical processes. The gas equipment such as cylinder and masks are used to store and deliver gas.
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The market for Medical Gases and Equipment is mainly driven due to growing incidences of COPD, asthma, and other medical conditions such as cardiovascular and lifestyle diseases, along with Technological innovation in the use of medical gases and an increase in demand for better healthcare facilities in developing economies. But, the market growth can be restrained due to changes in medical gas calibration standards, global shortage of helium, and declining federal reimbursements for respiratory therapies.
Global market for Medical Gases and Equipment is segmented based on Product, Application and End-users. By Product, the market is further sub-segmented into Medical Gases (Pure Medical Gases by Type, by Form of Delivery), Medical Gas Mixtures (Blood Gas Mixtures, Lung Diffusion Mixtures, Nitrous Oxide-Oxygen Mixtures, Carbon Dioxide-Oxygen Mixtures, Laser Gas Mixtures, Aerobic Mixtures, Anaerobic Mixtures, Ethylene Oxide, Helium Oxygen Mixtures), Medical Gas Equipment (Equipment Accessories, Oxygen Concentrators, Gas Delivery Systems, Cryogenic Products (Freezers)).
By Application, the market is further sub-segmented into Therapeutic (Respiratory Diseases, Cardiovascular Diseases, Anesthesia, Cryosurgery), Diagnostic, Pharmaceutical Manufacturing and Research. By End-users, the market is further sub-segmented into Hospitals, Home Healthcare, Emergency Services, Pharmaceutical Industry, Academic & Research Institutions.
Geographically, Global market for Medical Gases and Equipment is segmented into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. North America is the biggest market in terms of market share across the globe, followed by Europe.
The market in North America is highly driven due to factors like presence of a well-established medical gases market, high prevalence of patients with respiratory disorders, and growing aging population. The Medical Gases and Equipment market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to increasing healthcare awareness, rising healthcare expenditures, growth in the aging population, and growth in per capita income.
Air Products and Chemicals, Inc. , The Linde Group, Air Liquide, Praxair, Inc., Taiyo Nippon Sanso Corp., SOL-SpA, Airgas, Inc., Atlas Copco, Messer Group, GCE Holding AB, Beacon Medaes, Medical Gas Solutions Ltd., Matheson Tri-Gas, Taiya Nippon Sanso, Atlas Copco, are the major players of Global Medical Gases and Equipment market.
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