Medical gases and equipment play a crucial role in healthcare settings. These gases, such as oxygen and nitrous oxide, are essential for various medical procedures such as anesthesia, ventilation, and respiratory therapies. Equipment such as regulators and delivery systems ensure precise gas administration. Medical gases ensure patient safety, aid in surgery, and support critical care. Their accurate delivery and monitoring contribute to improved patient outcomes, making them indispensable tools for healthcare professionals in hospitals, clinics, and emergency situations.
According to Data Bridge Market Research, the Global Medical Gases-Equipment Market is expected to reach USD 4,838.15 million by 2029. The market is expected to grow with a CAGR of 8.00% in the forecast period of 2022 to 2029.
“Escalating prevalence of chronic illnesses boosts the market’s growth”
The escalating prevalence of chronic illnesses is a driving force behind the expansion of the medical gases market. These gases play a pivotal role in various medical procedures, from respiratory therapies to surgical interventions. As chronic conditions such as cardiovascular diseases, respiratory disorders, and diabetes become more prevalent, the demand for medical gases such as oxygen and nitrous oxide surges. This trend underscores the essential role of medical gases in enhancing patient care, particularly for those with chronic health conditions.
What restraints the growth of the global medical gases-equipment market?
“Limited awareness regarding the benefits and applications of medical gases restraints the market’s growth”
The growth of the medical gases market is hindered by limited awareness regarding the benefits and applications of medical gases. Many individuals and healthcare providers are unfamiliar with the diverse roles these gases play in medical treatments and therapies. This lack of awareness can lead to underutilization and missed opportunities for improved patient care.
Segmentation: Global Medical Gases-Equipment Market
The global medical gases-equipment market is segmented on the basis of type, application, product, and end-users.
- On the basis of type, the medical gases-equipment market is segmented into medical gases and medical gas equipment.
- On the basis of application, the medical gases-equipment market is segmented into therapeutic applications, pharmaceutical manufacturing and research, diagnostic applications, and other applications.
- On the basis of product, the medical gases-equipment market is segmented into manifolds, outlets, hose assemblies and valves, alarm systems, cylinders, flowmeters, regulators, medical air compressors, vacuum systems, and masks.
- On the basis of end-users, the market is segmented into hospitals, home healthcare, pharmaceutical and biotechnology companies, academic and research institutions, and emergency services.
Regional Insights: Asia-Pacific dominates the Global Medical Gases-Equipment Market
North America dominates the medical gases-equipment market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029 due to prominence of major industry leaders and a robust healthcare and pharmaceutical sector in the region contributes to its growth. Established players often drive innovation and investment, fostering a competitive environment. This fosters research, development, and access to cutting-edge therapies, positioning the region as a hub for healthcare advancements and market expansion.
Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period of 2022-2029 due to escalating incidence of chronic illnesses, coupled with increased healthcare spending and upgraded healthcare infrastructure, are driving growth in this region. Rising health expenditure supports enhanced healthcare services and treatments, making healthcare more accessible and effective. These factors collectively stimulate the region's healthcare sector development and expansion.
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Recent Developments
- In June 2021, GE Healthcare has introduced a novel design for a high-pressure gas regulator known as MediTec. This regulator is capable of delivering a flow rate of up to 25 liters per minute and can be utilized for both resuscitation and the treatment of cluster headaches.
The Prominent Key Players Operating in the Global Medical Gases-Equipment Market Include:
- Linde plc (U.K.)
- Air Products Inc. (U.S.)
- Air Liquide (France)
- Atlas Copco AB (Sweden)
- Messer SE & Co. KGaA (Germany)
- GCE Group (Czech Republic)
- Praxair Technology, Inc. (U.S.)
- SOL SpA (Italy)
- MATHESON TRI-GAS, INC. (U.S.)
- Rotarex (Luxembourg)
- Medical Gas Solutions Inc. (Canada)
- Amico Group of Companies (Canada)
- BeaconMedaes (U.S.)
- DCC plc (Ireland)
- TAIYO NIPPON SANSO CORPORATION (Japan)
- Ohio Medical (U.S.)
- Airgas, Inc. (U.S.)
- Allied Healthcare Products, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global medical gases-equipment market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Medical Gases-Equipment Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
