Global Medical Gas and Equipment Market by type (medical gases, medical gas mixtures, biological atmospheres, and medical gas equipment.), by application (respiratory, anesthesia, medical imaging, cryosurgery, therapeutic, diagnostic, pharmaceutical manufacturing & research, and others.), and end-user (clinics, hospitals, research institutions, home healthcare, pharmaceutical industry and academic & research institute, biotechnology industry, and emergency service. ), by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach us$ 26.6 Bn by 2026, at a CAGR of 8.43% during a forecast period.
The major driving factor of the global medical gas and equipment market are the rising aging population and subsequent increase in chronic diseases like COPD and asthma, growing home healthcare market, and the growing smoking prevalence. Other factors, like the rise in lung disease due to increasing pollution, the rapid increase in the aging population is a major factor driving the medical gases and equipment market.
A major factor restraining the market growth is a global shortage of helium due to the shutdown of the Federal Helium Reserve.
North America is expected to account for the largest share of the medical gases and equipment market, followed by Europe and the Asia Pacific.
North America is expected to account for the largest share of the medical gases and equipment market, followed by Europe and the Asia Pacific due to the increasing adoption of technologically advanced medical gases and equipment products, growing aging population, the high healthcare expenditure, presence of advanced healthcare infrastructure, highly developed healthcare systems in the US and Canada, and the presence of a large number of leading medical gases and equipment manufacturers in the region, is responsible for the large share of the North American medical gases and equipment market.
The therapeutic segment is expected to account for the largest share of the global medical gases and equipment market during the forecast period.
Based on application, the therapeutic segment is expected to account for the largest share of the global medical gases and equipment market during the forecast period due to the rising incidences of cardiovascular diseases and increasing prevalence of respiratory disorders due to lifestyle changes, rising pollution levels, and growing smoking prevalence.
The medical gases segment is expected to account for the largest share of the medical gases and equipment market.
The outlet’s segment is expected to grow at the highest rate during the forecast period due to significant use in a number of medical applications such as respiratory care, laser surgery, and sleep apnea to drive the growth of this segment. Medical gas outlets offer medical gas connections to the medical gas piping system. Gas outlets are used in centralized areas of hospitals, patient rooms, operating areas, surgery centers, and dental clinics. Medical gas outlets with probes in compressed medical gas systems enable patients to connect with the gas system by either connecting or disconnecting probes.
The key players operating in the global medical gas and equipment market are Allied Health Care, Ohio Medical, Powerex, Amico Corp., Gentec Corp, BeaconMedaes LLC, Air Gas Inc, Linde Gas, Praxair Inc., Air Liquide, Airgas Inc., Atlas Copco, Matheson Tri Gas, Inc., Messer Group GmbH, Taiya Nippon Sanso, The Linde Group, and Medical Gas Solutions.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global medical gas and equipment market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for taking in technology strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global medical gas and equipment market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global medical gas and equipment market positioning of competitors.
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