The Medical Gases market are characterized by the presence of a large number of local players and a few top players globally. The major five players of this market accounted for around 70% of the market share in 2015; most of the key players in this market are based in developed countries across North America and Europe. Some of the leading players in this market include The Linde Group (Germany), Air Liquide (France), Praxair, Inc. (U.S.), Air Products and Chemicals, Inc. (U.S.), and Airgas, Inc. (U.S.).
Rising aging population, growing prevalence of lifestyle diseases, rapid urbanization, and growing home healthcare market are the major factors driving the growth of the medical gases and equipment market.
Respiratory diseases are a major health burden globally. Smoking is one of the leading causes of chronic respiratory diseases such as COPD, asthma, tuberculosis, and sleep apnea. Respiratory conditions like asthma affect more than 300 million people across the globe every year. This growth in the prevalence of smoking-related disorders is expected to drive the demand for medical gas therapies (respiratory therapies), which in turn is expected to drive the growth of the medical gases and equipment market.
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The rapidly increasing aging population globally and the subsequent rise of chronic diseases such as COPD, asthma, sleep apnea, and other chronic disorders have led to the emergence of the home healthcare market in the past few years. There has also been a surge in patients that demand out-of-hospital care. Since a majority of the homecare therapies for respiratory & cardiovascular disorders and sleep apnea disorder involve the use of medical gases, the growth in the home healthcare market in the coming years is expected to create a greater demand for medical gases and related equipment during the forecast period.
medical gases form a critical component of various long-term care treatments for several chronic conditions (including cardiovascular diseases, chronic respiratory diseases, and cancer), the demand for medical gases is on the rise. The rising prevalence of such lifestyle diseases is thus expected to play a pivotal role in the growth of the medical gases and equipment market in the coming years.
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