Medical Gases and Equipment Market

Report Overview

The global medical gases and equipment market was pegged at US$ 16.51 billion in 2020 and is expected to witness a CAGR of 6% during the forecast period.

Market Fundamentals

A medical gas is defined as gas that is manufactured, packaged, and intended for administration to a patient for therapeutic and diagnostic applications. Medical gases are considered prescription drugs because their use as drugs is unsafe without the supervision of a licensed practitioner or by properly instructed emergency personnel. Medical gas equipment are the supply systems used to provide/create/distribute medical gases in the piping system. Medical gas equipment are vital for safe anesthetic practice.

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Market Dynamics

The global medical gases and equipment market is mainly driven by rising prevalence of chronic diseases, growing geriatric population, and rising demand for home healthcare. Furthermore, increasing number of collaborations and partnerships among prominent players is likely to play a pivotal role in contributing to the market growth. However, shortage of helium gas is likely to restrain the market growth to a certain extent.

Market Ecosystem

The global medical gases and equipment market has been analyzed from four perspectives: Type, Application, End User, and Region.

Medical Gases and Equipment Market by Type

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Based on type, the medical gases and equipment market has been segmented into medical gas and equipment. The medical gas segment is further categorized into medical pure gas and medical gas mixture. The equipment segment is further categorized into air compressors, vacuum systems, manifolds, outlets, valves & hose assemblies, monitoring systems, and others (flow meters, regulators, etc.). The medical gas segment dominated the market with the largest share. Gases like oxygen and nitrogen are very crucial for anesthetic techniques and life support systems. Therefore, hospitalization of patients and rising number of surgical procedures is expected to boost the growth of the medical gases market.

Medical Gases and Equipment Market by Application

Based on application, the medical gases and equipment market has been segmented into therapeutic application, diagnostics application, and other applications (pharmaceutical & biotechnology research application, etc.). The therapeutic application segment dominated the market with the largest share in 2020 owing to a wide range of applications of medical gases in the treatment and management of various disease conditions.

Medical Gases and Equipment Market by End User

Based on end user, the medical gases and equipment market has been segmented into hospitals, diagnostic laboratories, academic & research institutes, and others (pharmaceutical & biotechnology companies, home care settings, etc.). Hospital segment dominated the market with the largest share owing to admission of large number of patients in hospital for complex health conditions coupled with rising surgeries in hospitals.

Medical Gases and Equipment Market by Region

Based on region, the global medical gases and equipment market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the medical gases and equipment market, followed by Asia Pacific. The large share of North America in the global market can be attributed to high healthcare expenditure and high prevalence of various acute and chronic diseases where medical gases and equipment are used for their management.

Competitive Landscape

Some of the prominent players operating in the medical gases and equipment market includes:-

• Air Liquide
• Praxair Technology, Inc
• Taiyo Nippon Sanso Corporation
• SOL Spa
• Atlas Copco
• Messer Group GmbH
• GCE Group
• Air Products Inc
• Linde, among others

Strategic Developments

• In July 2019, Atlas Copco acquired the operating assets of MGES Inc., a service supplier of medical gas solutions including distribution and service of medical gas systems. The acquisition was aimed to expand local support to healthcare and laboratory customers in the Houston, San Antonio and Texas area.
• In July 2017, nexAir, a leading distributor of atmospheric gases and welding supplies, acquired Moore Oxygen Supply Inc., the Georgia-based supplier of industrial and medical gases and welding supplies.
• In March 2015, Linde India Limited, a member of the Linde Group set up its first dedicated healthcare cylinder filling site in Siliguri at North of West Bengal.

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