Medical Gas and Equipment Market
Medical gas supply system and equipment are used in range of respiratory therapies and life support systems, commonly in hospital settings. A large chunk of sales proceeds have been driven by the demand for medical gas and equipment in anaesthesia gas supply. Over the decades, growing clinical expertise has enriched the understanding of gas supply systems. As a result, the deployment of those systems has risen in hospitals for meeting the needs of a growing number of patients in intensive care units who need life-saving systems. A number of surgeries that need anaesthetic procedures is a key trend bolstering the demand in hospitals. Some of the gases transported through the systems present in the medical gas and equipment market are oxygen, medical air, entonox, carbon dioxide, nitrous oxide, and heliox.
A few dazzling advances have been made in composite materials used in equipment used for storage and delivery of the medical gas. Hospitals have been keen on adopting technologically advanced control systems to ensure safety and the continuity of care. Telemetry systems are one of the systems that have gained emphasis. Adopters in the healthcare facilities are also careful about cylinder hazards. Striking technological advances have been made in architecture and installation of the systems, notably where medical gas and equipment are used in anaesthesia. Increased focus on patient’s safety from the use of equipment used in respiratory therapies is a recurrent factor that has boosted the outlook of the medical gas and equipment market.
Global Medical Gas and Equipment Market: Overview
Gases form an important component of the healthcare system. Some of the major gases used in the medical field include oxygen, carbon dioxide, nitrogen, nitrous oxide and more. All these gases are useful in their own ways and are crucial for medical procedures. The global medical gas and equipment market has caught pace in the past few years and is predicted to acquire better prospects in the future.
The global medical gas and equipment market is segmented based on gas type, application, and end user. In the application segment, the market is categorized into anesthesia, cryosurgery, respiratory, and medical imaging. Further based on end user, the global medical gas and equipment market is divided into hospital and home care.
Global Medical Gas and Equipment Market: Key Trends
There are many aspects that hint at immense growth potential for the global medical gas and equipment market. One of the primary factors is the rising importance for healthcare. Most developed countries have people with high levels of awareness about leading a healthy life. This has resulted in more people opting for hospital care at the time of need. This bestows growth opportunities for the global medical gas and equipment market.
At the same time, the number of surgical procedures have also shot up in the past few years. Gases like oxygen and nitrogen are key in surgery. With rising demand for surgical procedures, the global medical gas and equipment market is predicted to scale growth in the coming years.
Another aspect that stokes demand in the global medical gas and equipment market is the growing requirement for home care. Many terminally ill patients require home care, and one of the primary requirements is an oxygen cylinder. This again is expected to sustain demand in the global medical gas and equipment market.
With expanding needs of healthcare, hospitals are establishing multiple specialty set ups. This requires them to increase and expand their facilities of medical gas. With growing number of hospitals becoming multispecialty healthcare centers, demand in the global medical gas and equipment market is expected to rise steadily.
Global Medical Gas and Equipment Market: Geographical Analysis
Based on regions, global medical gas and equipment market is divided into North America, Europe, Asia Pacific, and Rest of the World. It is predicted that North America will dominate the global medical gas and equipment market in the forecast period. The high levels of medical infrastructure coupled with well aware people is predicted to steer growth in this region of the global medical gas and equipment market. Further, Europe is considered to remain a close second in terms of business in the global medical gas and equipment market.
However, most players in the global medical gas and equipment market are likely to be keen about the emerging Asia Pacific region. The market is expected to become prominent as governments in developing countries increase their thrust on improving healthcare facilities.
Global Medical Gas and Equipment Market: Competitive Dynamics
The global medical gas and equipment market is quite vast and faces fierce competition. The market’s competitive dynamics rides on smart tactics adopted by players where they are trying to acquire smaller and regional companies to expand their consumer base. Some of the prominent players in the global medical gas and equipment market include Linde Group, Praxair Inc., Atlas Copco, GCE Holding, SOL SpA, Messer Group, SCI Analytical, Rotarex S.A., and Amico Corporation.