New York, NY, Aug. 09, 2019 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Medical Gases and Equipment Market By Product (Medical Gases and Medical Gas Equipment), By Application (Therapeutic, Diagnostic, and Pharmaceutical Manufacturing & Research), and By End-User (Home Healthcare and Hospitals): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global medical gases and equipment market was approximately USD 10.25 billion in 2018 and is expected to generate around USD 17.85 billion by 2025, at a CAGR of around 8.5% between 2019 and 2025.
Medical gases and equipment are patient-life supporting elements that directly influence a patient’s life. These are extensively used by healthcare professionals for diagnosis and treatment of different diseases. Medical gases are categorized into medical products and the related equipment is labeled under medical devices. These are also used for drug processing and by the biotechnology industry. The increasing global geriatric population base and various technological advancements in the pharmaceutical industry are driving the medical gases and equipment market globally. The increasing prevalence of disease like asthma and COPD and growing home healthcare facilities are also contributing to the medical gases and equipment market growth. However, stringent regulatory guidelines may restrain the medical gases and equipment market growth on a global level.
Browse through 54 Tables & 25 Figures spread over 110 Pages and in-depth TOC on “Global Medical Gases and Equipment Market: By Product Type, Applications, Industry Size, Share, Trends and Forecast, 2018–2025”.
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The medical gases and equipment market is categorized on the basis of product, application, and end-user. Based on product, the market includes medical gases (medical gases mixtures and pure medical gases) and medical equipment (compressors, cylinders, hose assemblies, and valves, manifolds, masks, vacuum systems, and others). Pure medical gases are sub-segmented into oxygen, nitrous oxide, nitrogen, carbon dioxide, helium, and others. Medical gas mixtures include carbon dioxide and oxygen mixture, helium and oxygen mixture, nitrous oxide and oxygen mixture, and other medical gas mixtures. Medical gases contributed the largest revenue share in the market in 2018, due to the growing use of gases in the diagnosis and treatment of various respiratory diseases and CVDs. The extensive oxygen usage in the healthcare sector for anesthetic techniques and life support systems will drive the oxygen segment in the years ahead.
By application, the medical gases and equipment market includes pharmaceutical manufacturing and research, diagnostic, and therapeutic. The use of medical gases for the treatment of various diseases fuelled the therapeutic segment growth in 2018. The therapeutic segment includes respiratory therapies, anesthesia delivery, cardiovascular therapies, and others.
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The end-user segment comprises hospitals and home healthcare. Hospitals are expected to witness significant revenue growth in the future, owing to the increasing adoption of medical gases and advanced instruments for diagnosis and treatment of different diseases.
North America dominated the medical gases and equipment market globally in 2018, due to the increasing use of medical gases and equipment for disease diagnosis and treatment, a growing number of homecare facilities, and rising incidences of respiratory diseases. The frequent use of home oxygen therapy and technological advancements in the diagnosis and treatment of various chronic diseases across the region are also driving the North American medical gases and equipment market. The U.S. is a major country in the North America medical gases and equipment market. This can be attributed to a large number of patients suffering from various respiratory disorders in the U.S.
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Europe held the second largest of the medical gases and equipment market, owing to the rising prevalence of respiratory diseases, increasing geriatric population base, and growing awareness about advanced technologies. Germany, France, and the UK are major countries in the European medical gases and equipment market.
The Asia Pacific medical gases and equipment market is an emerging region, due to the increasing cases of asthma and other chronic diseases, growing investments in healthcare services, and the region’s flourishing pharmaceutical industry. The emerging countries of the Asia Pacific, such as India and China, will play a major role in this market globally in the years ahead. India is estimated to grow rapidly while China dominated this regional market in 2018.
The Latin American region is another substantial market for medical gases and equipment globally, due to the increase in healthcare spending by the regional government and growing awareness regarding healthcare facilities. Brazil held a major share of this regional market.
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The Middle Eastern and African medical gases and equipment market will register slow growth in the upcoming years, owing to the increasing incidences of respiratory diseases and improving healthcare infrastructure across the region.
Some key players operating in the medical gases and equipment market globally are Linde Group, Air Liquide, Air Products and Chemicals, Praxair, Taiyo Nippon Sanso, Atlas Copco, GCE Holding, Messer Group, SOL, Rotarex, SCI Analytical, and Amico Corporation.
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This report segments the global medical gases and equipment market into:
Global Medical Gases And Equipment Market: By Product
- Medical Gases
- Medical Gases Mixtures
- Carbon Dioxide and Oxygen Mixture
- Helium and Oxygen Mixture
- Nitrous Oxide and Oxygen Mixture
- Other Medical Gas Mixtures
- Pure Medical Gases
- Oxygen Gas
- Nitrous Oxide Gas
- Nitrogen Gas
- Carbon Dioxide Gas
- Helium Gas
- Medical Gas Equipment
- Hose Assemblies and Valves
- Vacuum Systems
Global Medical Gases And Equipment Market: By Application
- Respiratory Therapies
- Anesthesia Delivery
- Cardiovascular Therapies
- Pharmaceutical Manufacturing and Research
Global Medical Gases And Equipment Market: By End-User
- Home Healthcare
Global Medical Gases And Equipment Market: By Region
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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