The Medical Gas Market has evolved significantly owing to various technological advancements. Factors such as increasing prevalence of chronic diseases, increasing incidence of respiratory diseases as a result of the high prevalence of tobacco use and rising pollution levels, rapid growth in the geriatric population, rising incidence of preterm births, and growing demand for home healthcare are expected to drive market growth in the coming years.
Revenue Growth Opportunities:
Medical Gas and Equipment Market is projected to reach $20.04 billion by 2023 from $14.83 billion in 2018, at a CAGR of 6.2%
By medical gas mixtures type, the therapeutic applications segment to accounted for the largest share of the market
On the basis of type, the lung diffusion mixtures segment accounted for the largest share of the medical gas mixtures market in 2017. This can primarily be attributed to the increase in the number of chronic diseases, the high proportion of untreated patients, and the growing aging population.
By application, the lung diffusion mixtures segment to accounted for the largest share of the market
Based on applications, the therapeutic applications segment accounted for the highest share of the medical gases and equipment market in 2017. This is mainly due to the high prevalence of respiratory and cardiovascular diseases, which has resulted in increased consumption of medical gases and equipment.
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Market Dynamics:
Driver: Increasing prevalence of chronic diseases;
With changes in lifestyle and eating habits, the number of people suffering from obesity and related disorders across the globe has increased significantly in the last few years. The global prevalence of obesity nearly tripled between 1975 and 2016 According to the WHO, in 2016, more than 1.9 billion adults (18 years and older) were reportedly overweight, globally. Of these, over 650 million were found to be obese. Additionally, in 2016, ~340 million children and adolescents aged 5–19 were found to be overweight/obese across the globe.
Obesity is regarded as one of the major factors responsible for the increasing prevalence of chronic disorders, including heart disorders and diabetes. The WHO has stated that in the last two decades, there has been a significant increase in the prevalence of diabetes, heart diseases, and other non-communicable diseases, globally. According to the American Hospital Association, in 2015, ~149 million individuals in the US suffered from at least one chronic illness, such as hypertension, heart disease, and respiratory diseases. By 2030, this number is expected to reach 171 million. Since medical gases form a critical component of various long-term care treatments for several chronic conditions, including cardiovascular diseases, chronic respiratory diseases, and cancer, the rising prevalence of lifestyle diseases is expected to play a pivotal role in the growth of the medical gases and equipment market in the coming years.
Recent Developments:
- In 2018, GCE introduced MediVitop, a new One-Knob Cylinder Valve with Integrated Pressure Regulator.
- In 2018, Ceodeux Meditec launched ALPIFLOW, a next-generation flow meter with over ten years lifetime without additional maintenance. The product is attached directly to the Ceodeux Meditec ALPICONNECT or ALPINOX and MINIOX to regulate oxygen-flow from the hospital pipeline system and from portable oxygen cylinders.
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Worldwide Geographical Segmentation in-detailed:
The Medical Gas therapy market is segmented into four regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to hold the largest market size in the medical gases and equipment market during the forecast period, followed by the European region. On the other hand, the Asia Pacific market is expected to witness the highest growth during the forecast period.
The rapid growth in the developing healthcare industry across China and India is expected to offer significant growth opportunities for players operating in this market during the forecast period. In addition, factors such as increasing incidence of respiratory diseases as well as growth in the healthcare infrastructure and the per capita income in this region is also expected to drive the growth of the medical gas market in this region.
Leading Key Players in the Worldwide Industry:
The Linde Group (Germany)
Air Liquide (France)
Air Products and Chemicals, Inc. (US)
Praxair, Inc. (US) ……and more
The Linde Group (Germany) dominated the global medical gases market in 2017. The company has a diversified product portfolio, which includes a wide range of medical gases and equipment such as medical oxygen, nitrous oxide, medical nitrous oxide/oxygen mixtures, hospital equipment for hospitals, and home care and emergency care services. Linde Group has a strong presence in more than 100 countries through its strong manufacturing and distribution facilities, which enables it to cater to a large customer base across the globe.
The study involved the extensive use of both primary and secondary sources.
The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.The Medical Gas and Equipment Market has evolved significantly owing to various technological advancements.
Factors such as increasing prevalence of chronic diseases, increasing incidence of respiratory diseases as a result of the high prevalence of tobacco use and rising pollution levels, rapid growth in the geriatric population, rising incidence of preterm births, and growing demand for home healthcare are expected to drive market growth in the coming years.Medical Gases Market expansion in emerging countries across APAC and technological advancements are also expected to present a wide range of opportunities for players in the market.Recent Developments in Medical Equipment Market;– In 2018, Air Liquide acquired EOVE (France) to increase its presence in the home healthcare market.
EOVE is a startup company specialized in the manufacturing of ventilators for home-based patients suffering from chronic respiratory failure.– In 2018, GCE introduced MediVitop, a new One-Knob Cylinder Valve with Integrated Pressure Regulator.– In 2018, Ceodeux Meditec launched ALPIFLOW, a next-generation flow meter with over ten years lifetime without additional maintenance.
The product is attached directly to the Ceodeux Meditec ALPICONNECT or ALPINOX and MINIOX to regulate oxygen-flow from the hospital pipeline system and from portable oxygen cylinders.Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=217979261According MarketsandMarkets™ Research – The report “Medical Gas and Equipment Market by Type (Oxygen, Nitrous Oxide, Carbon Dioxide, Gas Mixture, Vacuum System, Manifold, VIPR, Hose) Application (Respiratory, Anesthesia, Medical Imaging, Cryosurgery) End User (Hospital, Home Healthcare) – Forecast to 2023”, is expected to reach USD 20.04 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast periodBased on product, the market is broadly divided into medical gases and medical gas equipment.
Increasing use of medical gases for the diagnosis and treatment of various respiratory diseases such as COPD, asthma, and other medical conditions such as cardiovascular and lifestyle diseases are further expected to drive the demand of medical gases during the forecast period.Based on application, the medical gases and equipment market is segmented into therapeutics, diagnostics, pharmaceutical manufacturing and research, and others.
Bioprocessing systems are in high demand due to wide applicability in various industries and various processes such as in bioprocessing of enzymes, the food related process of filtration, cells, medical equipment, distillation and other.
Increasing benefits of bioprocessed products is one of major factor contributing growth in the global Medical Gas Market.Medical Gas Market is set to witness a substantial CAGR in the forecast period of 2019-2026.
This rise in market value can be attributed to increasing demand for bioprocessed products.This Medical Gas Market research report intensely analyses the potential of the market with respect to current scenario and the future prospects by considering several industry aspects of Cardinal Health industry.
The report also recognizes and analyses the rising trends along with major drivers, challenges and opportunities in the market.
This Medical Gas Market report provides major statistics on the market status of global and regional manufacturers and is a helpful source of assistance and direction for companies and individuals interested in Healthcare industry.
The company profiles of all the chief and dominating market players and brands who are taking steps such as product launches, joint ventures, mergers and acquisitions are mentioned in the report.Global Medical Gas Market By Product (Medical Gases, Medical Gas Equipment),Application (Pharmaceutical Manufacturing & Research, Diagnostic Applications, Therapeutic Applications, Others), Method Of Separation (Physical Separators, Fractional Distillation, Molecular Sieve, Semipermeable Membrane, Others), End User (Hospitals, Home Healthcare, Pharmaceutical And Biotechnology Companies, Academic And Research Institutions, Emergency Service Providers, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) - Industry Trends and Forecast to 2026 Get Download Exclusive Sample Report (350 Pages PDF+ All Related Graphs & Charts) of Medical Gas Market Report Athttps://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-medical-gases-marketMarket Drivers and Restraints:On the basis of product, the market is segmented into medical gases and medical gas equipment.
Bioprocessing systems are in high demand due to wide applicability in various industries and various processes such as in bioprocessing of enzymes, the food related process of filtration, cells, medical equipment, distillation and other.
Increasing benefits of bioprocessed products is one of major factor contributing growth in the global Medical Gas Market.Medical Gas Market is set to witness a substantial CAGR in the forecast period of 2019-2026.
This rise in market value can be attributed to increasing demand for bioprocessed products.This Medical Gas Market research report intensely analyses the potential of the market with respect to current scenario and the future prospects by considering several industry aspects of Cardinal Health industry.
The report also recognizes and analyses the rising trends along with major drivers, challenges and opportunities in the market.
This Medical Gas Market report provides major statistics on the market status of global and regional manufacturers and is a helpful source of assistance and direction for companies and individuals interested in Healthcare industry.
The company profiles of all the chief and dominating market players and brands who are taking steps such as product launches, joint ventures, mergers and acquisitions are mentioned in the report.Global Medical Gas Market By Product (Medical Gases, Medical Gas Equipment),Application (Pharmaceutical Manufacturing & Research, Diagnostic Applications, Therapeutic Applications, Others), Method Of Separation (Physical Separators, Fractional Distillation, Molecular Sieve, Semipermeable Membrane, Others), End User (Hospitals, Home Healthcare, Pharmaceutical And Biotechnology Companies, Academic And Research Institutions, Emergency Service Providers, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) - Industry Trends and Forecast to 2026 Get Download Exclusive Sample Report (350 Pages PDF+ All Related Graphs & Charts) of Medical Gas Market Report Athttps://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-medical-gases-marketMarket Drivers and Restraints:On the basis of product, the market is segmented into medical gases and medical gas equipment.
Bioprocessing systems are in high demand due to wide applicability in various industries and various processes such as in bioprocessing of enzymes, the food related process of filtration, cells, medical equipment, distillation and other.
Increasing benefits of bioprocessed products is one of major factor contributing growth in the global Medical Gas Market.Medical Gas Market is set to witness a substantial CAGR in the forecast period of 2019-2026.
This rise in market value can be attributed to increasing demand for bioprocessed products.This Medical Gas Market research report intensely analyses the potential of the market with respect to current scenario and the future prospects by considering several industry aspects of Cardinal Health industry.
The report also recognizes and analyses the rising trends along with major drivers, challenges and opportunities in the market.
This Medical Gas Market report provides major statistics on the market status of global and regional manufacturers and is a helpful source of assistance and direction for companies and individuals interested in Healthcare industry.
The company profiles of all the chief and dominating market players and brands who are taking steps such as product launches, joint ventures, mergers and acquisitions are mentioned in the report.Global Medical Gas Market By Product (Medical Gases, Medical Gas Equipment),Application (Pharmaceutical Manufacturing & Research, Diagnostic Applications, Therapeutic Applications, Others), Method Of Separation (Physical Separators, Fractional Distillation, Molecular Sieve, Semipermeable Membrane, Others), End User (Hospitals, Home Healthcare, Pharmaceutical And Biotechnology Companies, Academic And Research Institutions, Emergency Service Providers, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) - Industry Trends and Forecast to 2026 Get Download Exclusive Sample Report (350 Pages PDF+ All Related Graphs & Charts) of Medical Gas Market Report Athttps://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-medical-gases-marketMarket Drivers and Restraints:On the basis of product, the market is segmented into medical gases and medical gas equipment.
The Global PVC Window Profile Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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