Medical Gases And Equipment Market – introduction of favorable medical norm such as removal of drug user fee and duties introduced by U.S. Food and Drug Administration Safety and Innovation Act in 2012 for promoting the growth of medical gases and its supporting equipment are expected to be the major drivers of the market over the forecast period. The act is likely to help the manufacturers to cut their product cost, file for IP rights and maximize their profit margin. Adding more, increasing geriatric population base coupled with increasing demand for global home healthcare devices are expected to propel the growth of the global medical gases and equipment market in coming five years.
Rising awareness in manufacturers and consumers about medical gases usage and safety are likely to trigger the growth of this market over the forecast period. Establishment of favorable medical association such as Welding Distribution Association (GAWDA), Medical Gas Association (MGA) and Compressed Gas Association (CGA) are anticipated to drive the market growth.
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Some of the factors like theft of medical cylinder & gases, and helium storage are pulling the growth of medical gases and equipment market in coming few years. The emerging nations provide significant growth opportunities for this gases market owing to a huge gap between the rising demands and limited supply of medical gases for treatment. Moreover, increasing incidences of health and respiratory diseases coupled with rising personal disposable income and medical reimbursement facilities are expected to boost the market over the forecasted period.
On the basis of products, the market is bifurcated into medical gases and medical gases equipment. Due to high cost of medical gases equipment dominated the entire medical gases and equipment market in 2013 but the medical gasesmarket is expected to witness fastest growth rate over the forecast period.
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The medical gas market is furthersegmented into oxygen, helium, nitrogen, lung gas, laser gas, anaerobic mixtures, helium oxygen gas mixtures, carbon dioxide, medical air and ethylene oxide. Among these the oxygen gas market was the dominant segment in 2014 owing to large scale application in medical treatments and rising incidences of respiratory diseases such as pulmonary diseases. The medical gas equipment market is further classified into medical air compressor, mask, manifolds and outlets. The medical air compressor market is expected to witness lucrative growth over the forecast period owing to its wide range of application such as gas cylinders.
Geographically, the global medical gas market is studied under four main regions namely, North America, Europe, Asia Pacific and RoW. North America was the dominant market in 2013 and contributes about 41% of entire market share. Owing to presence of sophisticated technology in healthcare and favorable government regulations this market will continue to grow and maintain its leading position over the forecast period. Asia Pacific region is anticipated to show the highest growth rate over the forecast period due to introduction of various medical norms by medical administrations. Rising geriatric population base in japan and continuously developing economy of china are expecting to record highest CAGR by 2020.
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In 2013, the entire market was dominated by air liquide with over 20% share. The firms are taking many business development strategies such as joint ventures, acquisitions, new products and geographical expansions. Some of the key markets players of the global medical gases and equipment markets are Air Products Continental, Praxair Inc., Matheson Tri-Gas Inc., Air Gas Inc., Air Products and Chemicals Inc., Medical Gas Solutions, BeaconmededaesLlc, and Linde Group.
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