Published: Jun, 2018
The global medical gases and equipment market is envisioned in a report by Transparency Market Research (TMR) to witness players laying more emphasis on assessing different business tactics adopted to stay competent in the business. Some of these tactics are strong product marketing, focusing on corporate social responsibility, and taking extensive research and development initiatives. Players are also expected to concentrate on implementation of growth programs, increasing capital with the help of public notes and debentures, and filing patents and trademarks for protecting intellectual property rights. The market could testify about a trend that demonstrates focus on forward integration and customer-centric manufacturing.
TMR foretells the global medical gases and equipment market to be valued at a US$9.0 bn by the completion of 2018. On the basis of product, the market is classified into medical gases and medical gas equipment, where the former is further segregated into pure medical gases and medical gas mixtures. A geographical analysis of the market envisages Asia to be a larger region expected to grow at a faster CAGR.
Increasing Prevalence of Respiratory Diseases such as COPD Augments Demand
The world medical gases and equipment market is prognosticated to gain impetus with changing eating habits, increasing frequency of tobacco smoking, and aggressive rate of urbanization. The FDA Safety and Innovation Act put into practice could raise growth expectations of players operating in the market. Furthermore, rise of aging population, expanding home healthcare market, and growing incidence of respiratory diseases are anticipated to improve demand for medical gases and equipment.
Medical gases are foreseen to collect more demand in the near term. With rising incidence of sleep apnea and chronic obstructive pulmonary disease (COPD), the world medical gases and equipment market is expected to swell its growth during the course of the forecast period.
Changes in Medical Gas Calibration Standards and Helium Shortage Arrest Growth
Decreasing federal reimbursements for respiratory therapies, helium gas shortage witnessed globally, and changes in medical gas calibration standards are prophesied to hamper the growth of the international medical gases and equipment market. Additionally, manufacturers are finding it difficult to invest in the market because of stringent regulations they are required to follow.
However, improving healthcare expenditure and rising healthcare affordability and awareness in emerging economies are projected to open up new avenues in the international medical gases and equipment market. Moreover, increased funding for environmental testing in the U.S. and high usage of medical gases and equipment in the pharmaceutical industry could create favorable opportunities in the market.
The information presented in this review is based on a TMR report, titled “Medical Gases and Equipment Market (Product - Medical Gases (Pure Medical Gases (Medical Air, Carbon Dioxide, Oxygen, Nitrogen, Nitrous Oxide, and Helium) and Medical Gas Mixtures (Carbon Dioxide-Oxygen (Carbogen), Nitrous Oxide-Oxygen, Oxyfume 2000, Ethylene Oxide, Helium-Oxygen, Aerobic, Anaerobic, Blood Gas, Laser Gas, and Lung Diffusion Gas)) and Medical Gas Equipment (Medical Gas Manifolds, Medical Gas Outlets, Medical Gas Hose Assemblies and Accessories, Medical Gas Alarm Systems, Medical Gas Cylinders and Accessories, Medical Gas Flow Meters, Medical Gas Regulators, Medical Air Compressors, Medical Gas Vacuum Systems, and Medical Gas Masks)) - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018.”
The global medical gases and equipment market has been segmented as presented below:
Global Medical Gases and Equipment Market by Product
- Medical Gases
- Pure Medical Gases
- Medical Air
- Carbon Dioxide
- Nitrous Oxide
- Medical Gas Mixtures
- Carbon Dioxide-Oxygen (Carbogen)
- Nitrous Oxide-Oxygen
- Oxyfume 2000
- Ethylene Oxide
- Blood Gas
- Laser Gas
- Lung Diffusion Gas
- Medical Gas Equipment
- Medical Gas Manifolds
- Medical Gas Outlets
- Medical Gas Hose Assemblies and Accessories
- Medical Gas Alarm Systems
- Medical Gas Cylinders and Accessories
- Medical Gas Flow Meters
- Medical Gas Regulators
- Medical Air Compressors
- Medical Gas Vacuum Systems
- Medical Gas Masks
- Pure Medical Gases
Global Medical Gases and Equipment Market by Region
- North America
- Rest of the World
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