Medical Gases and Equipment Market Research Report - Forecast till 2027

Medical Gases and Equipment Market Research Report: by Product (Medical Gases, Medical Gas Mixtures, Medical Gas Equipment), Application (Therapeutic, Diagnostic, Pharmaceutical Manufacturing & Research), End User (Hospital) - Forecast Till 2027

ID: MRFR/MED/5475-HCR | February 2021 | Region: Global | 90 pages

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Medical Gases and Equipment Market overview


According to the latest research report, the Medical Gases and Equipment Market size is predicted to grow at a reasonable pace of compound annual growth rate during the projected period. The market had a market size of USD 13.0 billion in 2017 and is expected to increase at a compound annual growth rate of a CAGR of 7.5 percent during the forecast timeframe. It is meant for delivery to a person during diagnostic procedures, anesthesia, and treatment, and medical gas is made and packed specifically for this purpose. Medical gases are the life-sustaining factor that directly impacts the patient's ability to preserve or save their existence. 


In the pipe system, medical gas and equipment market trends refers to the distribution system used by end-users to furnish, generate, or distribute medicinal gases to patients. The expanding elderly population throughout the globe, an increase in the incidence of chronic illnesses, the availability of favorable government programs like industry-friendly security, and the increasing need for home health are all factors contributing to the market's expansion. Asthma, diabetes, respiratory disorders, cancer, and cardiovascular diseases are all more common in the aging populations, which increases their risk of developing chronic diseases. The World Health Organization (WHO) predicts that the global population of people aged 60 and over will expand from 962.0 million in the year 2017 to even more than 2.0 billion by the end of the year 2050 and 3.1 billion by 2100 from 962.0 million in 2017.


This report contains all the information on the global Medical Gases and Equipment Market analysis and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the Medical Gases and Equipment Market forecast for 2027 is also included in the report.


 Covid 19 Analysis


With the commencement of the COVID-19 outbreak in several countries, it was discovered that treatment centers were being employed to their utmost capacity while yet lacking in terms. The need for medical gases has grown, and a similar trend has been noticed in demand for medical gas and equipment market outlook. Several authorities were said to have sanctioned temporary medical facilities and upgraded the existing framework, among other things. Nevertheless, since supply networks were interrupted due to the restrictions on the mobility of persons and commodities, it was determined that the industry's development was only marginally affected. According to the prediction, the market is likely to progressively gain momentum throughout the short-term projection period as circumstances improve and global commerce shows signs of improvement.


Medical Gases and Equipment Market Dynamic                  


Drivers


Since medical gases are an essential component of various long-term care therapies over several chronic health conditions, such as chronic lung diseases, cardiovascular problems, and cancer, the increasing prevalence of unhealthy lifestyles is supposed to play a significant role in the expansion of the medical gases and equipment market in coming years, according to industry analysts.


Opportunities


Technical advancements such as the creation of lighter and much more transportable technology for the home healthcare industry and the integration of different kinds of gas handling equipment are likely to present substantial growth potential for market participants in a competitive environment.


Restraints


In the following years, it is projected that the price of helium will rise on the international markets. As a result of the scarcity of helium, MRI equipment makers are looking for other gases to cool their MRI systems. This has the potential to hurt the overall development of the medical gases and equipment market growth.


Challenges


Although rules were introduced in 2012, they stressed the significance of regular servicing and periodic inspection of medical gas and vacuum equipment. Such regulatory changes increase the operational expenses of medical gas makers and distributors while also putting downward pressure on their pricing strategies. Medical gas and device producers and medical gas distributors are projected to suffer as a result of this, which will hurt their profit margins.


Cumulative Growth Analysis


In 2020, the sector of manifolds was expected to account for 25 percent of the medical gas equipment market. Manifolds for medical gases are used in medical institutions to maintain the consistent volume and pressure of medicinal gases delivered from cylinders or tanks. Manifolds are recognized for their ability to simplify the management of gas cylinders while also lowering the total expenses involved with the storage and transportation of gasses. Manifolds are expected to see a stable market development throughout the projection period, in part due to a growing focus on the smooth delivery of medical gases in clinics and also ambulatory surgery centers.


Value Chain Analysis


According to the reports, Medical Gases and Equipment Market has been broken down into three distinct sections: products, applications, and end-users. There are three product categories in the medical gas market: medical gas equipment, medical gas mixes, and medical gas gases. Carbon dioxide, nitrous oxide, oxygen, helium, and medical air are subdivided in the medical gases section. Due to an increase in global hospitalization and lung illness cases, the medicinal gases sector dominated the market in 2017. This category is further subdivided into sterilant gas mixes, lung diffusing mixtures, blood gases and respiratory zone monitor calibration normal gas blends, and other medical gas mixture subcategories. Compressors, cylinders, vacuum systems, masks, flowmeters, alarm systems, and other medical gas equipment are further subdivided into their respective categories (manifolds, regulators, and outlets).


The market has been divided into therapeutic, diagnostic, and pharmaceutical manufacturing & research segments based on Application. Respiratory, anesthetic, cardiovascular, and other therapeutic applications make up the therapeutic applications section. The market has been split into hospitals & clinics, pharmaceutical & biotechnology businesses, academic & research institutions, and home healthcare by end-user. 


Medical Gases and Equipment Market Segmentation Overview


The market is segmented on the products, applications, end-users, and regions. The global Medical Medical Gases and Equipment Market value is expected to witness decent growth during the forecast period.


By Application


The Application is segmented into therapeutic, diagnostic, and pharmaceutical manufacturing & research.


By end-users


The market is segmented into hospitals & clinics, pharmaceutical & biotechnology businesses, academic & research institutions, and home healthcare.


Regional Analysis


According to the reports, The Medical Gases and Equipment Market in the Americas, Europe, Asia-Pacific, and the Middle East & Africa has been split into four regions. More specifically, the Americas' medical gases and equipment market share is separated into North American and South American, with the North American market split into the United States and Canada. In terms of the medical gases and equipment market, the Americas will be the most dominant region attributed to the prevalence of major market players, a well-developed healthcare infrastructure, rising aging people and frequency of chronic conditions such as diabetes and cancer.


Competitive landscape


Market fragmentation results in reduced profitability and less product visibility due to the high degree of competition. Therefore, it has been seen that some multinational corporations are concentrating on artificial expansion via mergers and acquisitions to improve their geographical penetration.


Major Key Players



  •       Praxair Technology, Inc.

  •       Atlas Copco AB

  •       Air Liquide

  •       Airgas, Inc.

  •       Messer Group GmbH

  •       Matheson Tri-Gas, Inc.

  •       The Linde Group

  •       TAIYO NIPPON SANSO CORPORATION

  •       Amico Corporation

  •       SCI Analytical

  •       SOL S.p.A.

  •       Rotarex SA

  •       GCE Holding AB

  •       Air Products and Chemicals, Inc.

  •       Matheson Tri-Gas, Inc.

  •       Others


Report Overview


The following report comprises of –



  • Market overview 

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints 

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segmentation Overview 

  • By Application 

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Recent Developments



  • Earlier this year, Air Liquide purchased EOVE (France) in order to strengthen its position in the residential healthcare sector. EOVE is a start-up firm that specialises in the production of ventilators for people who suffer from chronic respiratory distress who live in their own homes or in nursing homes.


Global Medical Gases and Equipment Market, by Product:



  • Medical Gases


    • Nitrogen Gas

    • Nitrous Oxide Gas

    • Oxygen Gas

    • Carbon Dioxide Gas

    • Helium Gas

    • Medical Air


  • Medical Gas Mixtures


    • Medical Laser Gas Mixtures

    • Medical Drug Gas Mixtures

    • Sterilant Gas Mixtures

    • Lung Diffusion Mixtures

    • Blood Gas Mixtures

    • Aerobic Gas Mixtures

    • Anaerobic Gas Mixtures

    • Breathing Zone Monitoring Calibration Standard


  • Medical Gas Equipment


    • Air Compressors

    • Vacuum Systems

    • Flow Meters

    • Cylinders

    • Alarm Systems

    • Outlets

    • Others



Global Medical Gases and Equipment Market, by Application:



  • Therapeutic Applications


    • Respiratory Therapies

    • Cardiovascular Therapies

    • Anesthesia Delivery

    • Others


  • Diagnostic Applications

  • Pharmaceutical Manufacturing & Research

  • Others


 


Global Medical Gases and Equipment Market, by End User:



  •       Hospitals & Clinics

  •       Academic & Research Institutions

  •       Pharmaceutical & Biotechnology Companies

  •       Home Healthcare       Others


Global Medical Gases and Equipment Market, by Region



  • Americas


    •  North America


      •   US

      •   Canada


    •  South America


  • Europe


    •  Western Europe


      •   Germany

      •   France

      •  Italy

      •  Spain

      •  UK

      •   Rest of Western Europe


    •  Eastern Europe


  • Asia-Pacific


    •  Japan

    •  China

    •  India

    •  Australia

    •  South Korea

    •  Rest of Asia-Pacific


  • The Middle East & Africa


    •  Middle East

    • Africa




Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2023:Significant Value
  • 2017: USD 13.0 Billion
  •   CAGR   2017-2023: 7.5%
      Base Year   2019
      Forecast Period   2027
      Historical Data   2018
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Product, Application, and End user
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Atlas Copco, Air Liquide, Praxair Technology, Inc., Airgas, Inc., Messer Group GmbH, AB Matheson Tri-Gas, Inc., The Linde Group, TAIYO NIPPON SANSO CORPORATION, Amico Corporation, SCI Analytical, SOL S.p.A., Rotarex SA, GCE Holding AB, Air Products and Chemicals, Inc., and Matheson Tri-Gas, Inc
      Key Market Opportunities   Improving healthcare infrastructure coupled with rising spending on healthcare
      Key Market Drivers

  • Growing geriatric population coupled with rising prevalence of chronic diseases
  • The presence of favorable government initiatives


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    Frequently Asked Questions (FAQ) :

    As per 2017, the Medical Gases and Equipment Market was valued at USD 13 billion.

    Medical Gases and Equipment Market would have a CAGR of 7.5% during the forecast period covering 2018 to 2023.

    Therapeutic application would lead to the Medical Gases and Equipment Market.

    Medical gas segment has the charge of the Medical Gases and Equipment Market.

    Americas has the maximum Medical Gases and Equipment Market share.