Medical Gases Market Worth 19.96 Billion USD by 2021
PUNE, India, April 18, 2016 /PRNewswire/ --
According to a new market research report "Medical Gases Market Gases (Oxygen, Nitrogen, Nitrous Oxide, Helium, Gas Mixture) Equipment (Delivery System, Cryogenic Freezer, Oxygen Concentrator) Application (Respiratory Diseases, Anesthesia, Medical Imaging) by End User - Global Forecast to 2021" published by MarketsandMarkets, This report studies the global market during the forecast period of 2016 to 2021. The global Medical Gases and Equipment Market are expected to grow at a CAGR of 8.0% from 2016 to 2021, to reach USD 19.96 Billion by 2021.
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Browse 334 market data Tables and 46 Figures spread through 332 Pages and in-depth TOC on "Medical Gases Market"
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Growth in this market is attributed to factors such as growing home healthcare market, rising aging population, increasing prevalence of respiratory diseases, rapid urbanization, high prevalence of tobacco smoking, implementation of the U.S. Food and Drug Administration (FDA) Safety and Innovation Act, and changing eating habits. However, changes in medical gas calibration standards, global shortage of helium, and declining federal reimbursements for respiratory therapies may hinder the growth of this market to a certain extent.
In this report, the global Medical Gases and Equipment Market is segmented on the basis of product, application, end user, and region. This report also discusses the key drivers, restraints, opportunities, and challenges of the global Medical Gases and Equipment Market. On the basis of product, the market is segmented into pure gases, medical gas mixtures, and medical gas equipment. The pure gases market is further segmented by type and form of delivery. The medical gas equipment market is further segmented into equipment accessories, oxygen concentrators, gas delivery systems, and cryogenic products (freezers).
On the basis of applications, the market is segmented into therapeutic, diagnostic, pharmaceutical manufacturing and research, and other applications; while, on the basis of end users, the market is segmented into hospitals, home healthcare, emergency services, pharmaceutical industry, and academic & research institutions.
In 2015, the medical gases segment accounted for the largest share of the Medical Gases And Equipment Market. This is majorly attributed to the increasing use of medical gases for the diagnosis and treatment of various respiratory diseases. The growing incidences of COPD, asthma, and other medical conditions such as cardiovascular and lifestyle diseases are further expected to drive the demand of medical gases and equipment during the forecast period.
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Geographically, the Medical Gases and Equipment Market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Presence of a well-established Medical Gases Market, high prevalence of patients with respiratory disorders, and growing aging population has contributed to the large share of the North American region. However, the Asia-Pacific region is expected to grow at the highest CAGR; growth in this market can be attributed to increasing healthcare awareness, rising healthcare expenditures, growth in the aging population, and growth in per capita income.
Some of the major players operating in the global Medical Gases And Equipment Market include Air Products and Chemicals, Inc. (U.S.), The Linde Group (Germany), Taiyo Nippon Sanso Corp. (Japan), SOL-SpA (Italy), Airgas, Inc. (U.S.), Air Liquide (France), Praxair, Inc. (U.S.), Atlas Copco (Sweden), Messer Group (Germany), and GCE Holding AB (Sweden).
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