The Global Medical Gases & Equipment Market is expected to reach USD 26.8 billion by 2025, from USD 14.4 billion in 2017 growing at a CAGR of 8.1% during the forecast period of 2019 to 2026.
Market Definition: Medical Gases & Equipment Market
Medical gases are specific gases which are utilized for medical purposes, tranquilize handling and research in biotechnology. The medical gas can be a solitary unadulterated gas or a blend of various gases. The basic sorts of gases utilized are oxygen, ammonia, hydrogen, nitrous oxide, nitrogen and carbon dioxide. The gas equipment, such as, chamber and veils are utilized to store and convey gas.
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Major Market Drivers & Restraints are as follows:
- Growing prevalence of lifestyle diseases
- High prevalence of tobacco use and rising pollution levels leading to increasing incidences of respiratory diseases
- Rapidly increasing aging population
- Declining federal reimbursements for respiratory therapies
Key Market Competitors: Medical Gases & Equipment Market
Few of the major competitors are Air Liquide, Linde Group, Airgas Inc., Air Products and Chemicals, Inc., Praxair, Inc., Taiyo Nippon Sanso Corporation (Matheson Tri-Gas Inc.), Atlas Copco AB, GCE Holding AB, Messer Group GmbH, Tecnocryo SPA, Chemogas, Arthur Friedrichs Kältemittel GMBH, NMS GMBH, Gasecenter Nord GMBH & CO. KG, SOL SPA., Medical Gas Solutions Inc., Allied Healthcare, Ohio Medical, Powerex, Inc., Amico Group, Gentec Corporation and BeaconMedaes.
The report gives the details about market trends, future prospects, market restraints, leading market drivers, several market segments, key developments, key players in the market, and competitor strategies. This market report puts light on various aspects of marketing research that range from important industry trends, market size, market share estimates, sales volume, emerging trends, product consumption, customer preferences, historic data along with future forecast and key player analysis. Under competitive analysis section, major key players existing in the market are mentioned along with various details such as company profiles, their market share analysis, and their different strategies which make them thrive in the market.
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Market Segmentation: Medical Gases & Equipment Market
- The Medical Gases & Equipment Market is segmented based on the product, application, end use and geographical segments.
- Based on Product, the market is segmented into medical gases and medical gas equipment. The medical gases are further segmented into pure medical gases by type, pure medical gases by form and medical gas mixtures. The medical gas equipment is segmented into equipment accessories, cryogenic products (freezers), oxygen concentrators and gas delivery systems
- Based on Application, the market is segmented into therapeutic applications, pharmaceutical manufacturing & research, diagnostic applications and other applications. The therapeutic applications are further segmented into respiratory diseases, cardiovascular diseases, anaesthesia, cryosurgery and other therapeutic applications. The pharmaceutical manufacturing & research is segmented into drug discovery, pharmaceutical manufacturing, process development and quality control. The diagnostic applications are segmented into medical imaging and general laboratory use
- Based on End use, the market is segmented into hospitals, home healthcare, pharmaceutical and biotechnology companies, academic and research institutions and emergency service providers.
- Based on Geography, the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others
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The Medical Gases & Equipment Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical gases & equipment market for global, Europe, North America, Asia Pacific and South America.
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