Market Definition
Medical gases are specialized gases used in biotechnology research, drug production, and medical applications. A single pure gas or a combination of several gases can be used as a medical gas. Oxygen, ammonia, hydrogen, nitrous oxide, nitrogen, and carbon dioxide are the most frequently used gases. Gas is stored and delivered via gas delivery equipment, such as cylinders and masks. The market for medical gases and equipment has large growth potential because of the growing elderly population and advancements in the pharmaceutical sector.
Market Outlook
The global medical gases and equipment market was valued at USD 6.5 billion in 2021 and it is anticipated to grow further till USD 13.0 billion by 2031, at a CAGR of 7.2% during the forecast period.
The need for medical gases and equipment, which are a vital component of the hospital sector, has significantly increased as hospitals spread across the globe. To provide therapy to patients needing critical care, a variety of medical equipment, including flowmeters, cryogenic goods, regulators, medical air compressors, and others, is frequently needed. As a result, this equipment is standard in hospitals’ intensive care units (ICUs) and operating rooms (OTs). Additionally, the industry is expanding due to the increasing government expenditure in healthcare. For instance, India’s healthcare industry is growing quickly, especially now that the government has permitted foreign direct investment (FDI) in the field.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Medical Gases and Equipment Market Segmental Overview
The global medical gases and equipment market is segmented into product type, end user, and region.
Global Medical Gases and Equipment Market by Product Type
Based on the product type, it is segmented into medical gases, medical gas mixtures, biological atmospheres, and medical gas equipment. The medical gas segment is anticipated to dominate the market during the forecast period. The Centers for Disease Control and Prevention (CDC) estimate that between 2014 and 2015, heart illnesses cost US $219 billion annually. This included money spent on prescription drugs, medical services, and lost productivity due to mortality. Rising investment in effective cardiovascular disease treatment is anticipated to be positive for the medical gas market segment.
Global Medical Gases and Equipment Market by End User
Based on the end user, it is segmented into clinics, hospitals, research institutions, home healthcare, the pharmaceutical industry, and biotechnology industry. The hospital segment is anticipated to dominate the market during the forecast period. The increasing count of geriatric population and advancements in the pharmaceutical industry is boosting the growth of the market.
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Major Players in the Global Medical Gases and Equipment Market
The key players studied in the report are Air Liquide, Air Products and Chemicals Inc., Amico Group of Companies, Atlas Copco, BeaconMedaes, the Linde Group, Flogas, Messer Group GmbH, Matheson Tri-Gas Inc., and Taiyo Nippon Sanso Corporation among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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