Medical Gas Market: Overview
The growth of medical gas market stems from a number of factors, including rising incidence of chronic diseases, growing geriatric population, and increasing demand for home healthcare and point of care products, and these factors are expected to continue to influence the said market over the 2020- 2030 forecast period.
Key parameters based on which medical gas market is divided are product, application, and region.
Medical Gas Market: Competitive Landscape
The medical gas market is highly fragmented with a large number of local and a few large global players. New product launch, strategic alliances, and partnerships are key growth strategies adopted by leading players in the medical gas market.
Prominent players in the medical gas market include The Linde Group, Beacon Medaes, Air Products and Chemicals, Air Liquide, Airgas Inc., Medical Gas Solutions Ltd, Praxair Inc., and Matheson Tri-Gas among others.
Medical Gas Market: Key Trends
Majorly fuelling the medical gas market is initiatives undertaken by government medical departments for expansion of healthcare services for public health. World over, government medical departments are planning, devising programs to render healthcare to all age groups, which are either covered under national healthcare programs or are available at nominal charges. Such services include point of care and home care products for the disabled and elderly.
Reforms in government policies and introduction of new bills by government that support home care and point of care is further fueling the medical gas market. For example, in July 2012, the U.S. congress passed a bill for the implementation of U.S FDA safety and innovation act.
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Medical Gas Market: Regional Assessment
Led by demand in the U.S., North America is the leading region in the medical gas market. Key factors fuelling growth in the region are high incidence of chronic diseases and growing geriatric population.
Europe closely follows North America in terms of market share in the medical gas market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.