Market Size – USD 4.55 Billion in 2018, Market Growth – CAGR of 7.4%, Market Trends – Product launches and research for advanced equipments
According to the current analysis of Reports and Data, the global medical gas equipment market was valued at USD 4.55 Billion in 2018 and is expected to reach USD 8.06 Billion by the year 2026, at a CAGR of 7.4 %. Medical gases are the life-supporting element which helps in maintaining or saving the patient’s life. It is the supply systems used by end-users to provide or create or distribute medical air in the piping system.
Growth predicts the increased number of individuals seeking treatment for respiratory disease in ambulatory surgical centers. Growing patient, coupled with cutting-edge equipment, will render a positive impact on business growth during the forecast. Rising disease burden will positively impact demand for medical air devices, thereby fueling industry growth during the forecast period.
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Increasing geriatric population, technological advancements in DNA sequencing and analysis will detect causative agents will propel the industrial growth. The growing influence of home healthcare facilities that provide improved convenience for various respiratory diseases will also help drive medical gas equipment industry. Due to the Helium Privatization Act in America, the Federal Helium Reserve would be shut down, and the resources would be handed over to the private sector, which would restrain the industrial growth.
Further key findings from the report suggest
- Most manufacturers of these equipments offer various types of medical air outlets. These outlets are available in various gas orders (e.g., O2-N2O-Air), center-line spacing, and for exposed and concealed mountings. Outlet types and configurations must meet the requirements of the local, state and national jurisdictional authority. All outlets must be properly identified and confirmed. Care should also be taken to accurately coordinate the various pieces of dispensing equipment with the architect and staff involved in the given project. If the project is a renovation, the outlet types should match existing equipment.
- Home healthcare has been generated as an attractive segment in medical gas equipment industry, due to the use of medical air to help patients with diseases such as asthma, COPD, and sleep apnea.
- As any hospital facility must be specially designed to meet the applicable local code requirements and the health-care needs of the community it serves, the medical-gas and vacuum piping systems must also be designed to meet the specific requirements of each hospital.
- In 2018, Praxair and Taiyo Nippon Sanso Corporation (Japan) agreed to sell the majority of Praxair’s European gases business and to allow merger clearance of the business combination by the European Commission.
- Increasing chances of chronic disease will increase the use of advanced equipments for oxygen therapy. More use of technologically advanced equipments for delivery and supply of medical air will promote business growth in the future.
- Increasing incidences of respiratory disorders clubbed with the introduction of favorable U.S. FDA regulations is expected to drive the medical gas equipment industry demand over the next six years.
- The equipments are mostly used for therapeutics, diagnosis, and other applications such as pharmaceutical manufacturing, research, process development, and quality control and drug discovery. The different types of gases that are used in healthcare facilities include medical air, oxygen, carbon dioxide, nitrogen, and nitrous oxide.
- Clinics end-use segment is dominating the industry with the largest market share of 33.7% and expects to reach 2.84 billion in 2026 due to more demand for equipment by the clinics.
- North America leads the market with a share of 32.8% and is expected to grow more during the forecast period. Presence of sophisticated healthcare infrastructure, the high volume of invasive procedures, and implementation of the U.S. Food and Drug Administration Safety and Innovation Act are some factors due to which it holds large share.
- Manifolds market will grow at 7.7% CAGR during the forecast period owing to various technological advances, with wide usage of applications in different healthcare settings such as hospitals and ambulatory surgical centers.
- Some of the prominent players involved in Medical gas equipment market are Air Liquide, Allied Healthcare Products Inc., Amico Corp., BeaconMedæs, Gentec Corp., Linde Gas, Matheson Tri-Gas Inc., Ohio Medical, Powerex and Praxair Inc.
For this report, Reports and Data have segmented the medical gas equipment market based on the product, end-use, and region:
Product (Revenue, USD Million; 2016–2026)
- Air Compressors
- Vacuum Systems
- Valves and Hose Assemblies
- Alarm Systems
End-Use (Revenue, USD Million; 2016–2026)
- Research Institutions
- Home Healthcare
- Pharmaceutical Industry
- Biotechnology Industry
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/medical-gas-equipment-market
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- Latin America
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