PUNE, India, November 23, 2015 /PRNewswire/ --
According to a new market research report "Latin America Medical Gases & Equipment Market by Product (Oxygen, Medical Air, Nitrogen, Carbon Dioxide, Nitrous Oxide, Helium, Ethylene Oxide, Blood-gas Mixture, Cylinder, Hoses, Manifold, Regulator) End User (Hospital, Home Care) - Forecast to 2020", published by MarketsandMarkets, the Latin America Medical Gases and Equipment Market is estimated to reach around USD 1.8 Billion by 2020 at a CAGR of 10.2% during the forecast period of 2015 to 2020.
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The Latin American medical gases and equipment market is growing at a high rate and further expected to experience considerable growth in the forecast period. Growth in this market is mainly attributed to the rising prevalence of lifestyle and respiratory diseases, rising geriatric population, high prevalence of smoking, rising pollution levels, and growing demand for home healthcare products. However, the low efficiency of healthcare systems in Latin America and the recent economic slowdown in the region are the major challenges in this market.
In this report, the Latin American medical gases and equipment market is segmented on the basis of products and end users. On the basis of products, the Latin American medical gases and equipment market is segmented into medical gases and medical gas equipment. The medical gas equipment segment is further divided into cylinders, vacuum systems, manifolds, regulators, cryogenic products, flowmeters, suction regulators, monitoring systems, hoses, and outlets. The medical gases segment is categorized into pure medical gases and medical gas mixtures. The pure medical gases segment is subdivided into oxygen, nitrous oxide, medical air, nitrogen, carbon dioxide, and helium. The medical gas mixtures segment is categorized into blood-gas mixtures, lung diffusion mixtures, nitrous oxide-oxygen mixtures, carbon dioxide-oxygen mixtures, laser-gas mixtures, aerobic gas mixtures, anaerobic gas mixtures, ethylene oxide mixtures, and helium-oxygen mixtures.
In 2014, the medical gas equipment segment accounted for the largest share of the Latin America medical gases and equipment market. The large share of this segment is mainly attributed to the rising demand for home healthcare devices and rising geriatric population.
On the basis of end users, the Latin American medical gases and equipment market is divided into hospitals, home healthcare, pharmaceutical & biotechnology companies, and academic & research institutions. Hospitals are the major end users of the Latin American medical gases and equipment market, owing to the financial capabilities of hospitals to purchase high-end instruments as well as the availability of trained professionals to operate these devices.
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The Latin American medical gases and equipment market is broadly segmented into Brazil, Mexico, Argentina, Colombia, Chile, Peru, Venezuela, Ecuador, Uruguay, and the Rest of Latin America. It's highly developed healthcare insurance system and high healthcare expenditures are the major factors responsible for the large share of Brazil in the Latin American medical gases and equipment market. However, the Mexico is expected to grow at the highest CAGR, owing to increasing incidence of lifestyle diseases, favorable government efforts further improving healthcare infrastructure, increasing per capita incomes, and growing middle-class population.
Major players in the Latin American Medical Gases And Equipment Market include The Linde Group (Germany), Air Liquide (France), Praxair, Inc. (U.S.), Air Products and Chemicals, Inc. (U.S.), Atlas Copco AB (Sweden), and Taiyo Nippon Sanso (Matheson Tri-Gas) (Japan).
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