North America Leads Medical Gases Market Growth of 8% CAGR to 2021

Jun 21, 2016, 08:30 ET from Market Reports Hub

PUNE, India, June 21, 2016 /PRNewswire/ --

The worldwide medical gases market is primarily propelled by the implementation of the U.S. Food and Drug Administration (FDA) Safety and Innovation act, increasing prevalence of respiratory diseases, growing home healthcare market, rising aging population, rapid urbanization and high prevalence of tobacco smoking.

Complete report on medical gases market spread across 332 pages, profiling 10 companies and supported with 334 tables and 46 figures is now available at .

The global medical gases and equipment market is poised to reach USD 19.96 billion by 2021 from USD 13.58 billion in 2016, at a CAGR of 8.0% during the forecast period. Technological advancements and market expansion in emerging countries have also opened up new avenues for players operating in the medical gases and equipment market. However, factors such as changes in medical gas calibration standards, global shortage of helium, and declining federal reimbursements for respiratory therapies may restrain the growth of this market to a certain extent.

In this report, the medical gases and equipment market is segmented on the basis of product, application, end user, and region. On the basis of product, the market is segmented into pure gases, medical gas mixtures, and medical gas equipment. The pure gases segment is further categorized on the basis of type and form of delivery. The medical gas equipment segment is categorized into equipment accessories, oxygen concentrators, gas delivery systems, and cryogenic products (freezers).

The medical gases and equipment market, by application, is segmented into therapeutic, diagnostic, pharmaceutical manufacturing and research, and other applications. The therapeutic application segment is further categorized into respiratory diseases, cardiovascular diseases, anesthesia, cryosurgery, and others; while, the diagnostic application segment is categorized into medical imaging and general laboratory use. The pharmaceutical manufacturing and research segment comprises drug discovery, process development, manufacturing, and quality control. On the basis of end users, the medical gases and equipment 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. The large share of this segment is majorly attributed to the high use of medical gases for various respiratory and cardiovascular diseases in hospitals as well as home healthcare setups. On the basis of end user, the home healthcare segment is expected to grow at the highest CAGR, owing to the rising preference of patients to treat them at home.

Some key players in medical gases market include Air Products and Chemicals, Inc. (U.S.), The Linde Group (Germany), Praxair, Inc. (U.S.), Taiyo Nippon Sanso Corp. (Japan), Air Liquide (France), SOL-SpA (Italy), Airgas, Inc. (U.S.), Atlas Copco (Sweden), Messer Group (Germany), and GCE Holding AB (Sweden). Order a copy of 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 research report at .

In 2015, North America accounted for the largest share of the global medical gases and equipment market, followed by Europe, Asia-Pacific, Latin America and the Middle East & Africa. Asia-Pacific is expected to be the fastest-growing region during the forecast period, owing to the increasing healthcare awareness, growth in the aging population, rising healthcare expenditures, and growth in per capita income.

On a related note, another research on Industrial Gases for Plastic & Rubber Industry Market Global Forecast to 2020 says, rising demand for medical care, oil & gas, and beverage to drive the industrial gases for the plastic &rubber industry. The market is projected to grow from USD 4.89 billion in 2015 to USD 6.31 billion by 2020, at a CAGR of 5.24% from 2015 to 2020. Nitrogen segment is to be the largest market during the forecast period. Companies like The Linde Group, Air Liquide S.A., Praxair Inc., Air Products and Chemicals Inc., Airgas Inc., Messer, Universal Industrial Gases, Novomer Inc., Yingde Gases Group Company and Taiyo Nippon Sanso Corporation have been profiled in this 197 pages research report available at .

Explore more reports on Life Sciences market at .

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