Medical gas is a gas used directly or indirectly in the pharmaceutical industry, and medical gas equipment used to produce medical gas. Also, medical gases are mainly utilized directly as coolants and disinfectants in patients’ therapeutic procedures. Global medical gases divided into pure medical gases and mixed medical gases.
Moreover, the medical gas system refers to a positive pressure system device that produces, stores, and centrally delivers medical gas. Its use for patients or medical equipment through pipelines, and a negative pressure system device that excludes patient body fluids, dirt, therapeutic liquid, and exhaust gas.
The global Medical gas and equipment market to fuel the market growth at propelling CAGR in the forecast period from 2020-2027. The rising chronic respiratory diseases, pollution, smoke, rapid growth of the geriatric population, rising technology, and healthcare industry, and emerging cases of preterm births are deriving the market demand for the global Medical Gases and Equipment market.
Medical gas is an essential support for the lifeline of hospital medical services and life-saving. Medical gases mainly include oxygen, nitrogen, carbon dioxide, nitrous oxide, compressed air, vacuum negative pressure suction, etc. It mainly used in operating rooms, intensive care units, general wards, hyperbaric oxygen chambers, ventilators etc.
Moreover, the rising population around the world has also affected the market share of the Medical Gases and Equipment market. Factors such as air pollution and smoking habits of some people, the number of patients with lung diseases has increased, and the demand for medical Gases and Equipment has been growing.
According to WHO, about 6% of the death caused due to pulmonary diseases and which also predicted that in future (chronic obstructive pulmonary diseases) COPD would become the top three diseases in the world that causes death. Oxygen therapy mainly used for treating COPD and prevents artery hypertension. Therefore, with the increasing prevalence of chronic diseases, oxygen, and other medical gases will be needed to cure respiratory diseases. Thus, the market share of the global Medical Gases and Equipment will bolster in the future.
Furthermore, the rising road accident cases, where the patient is needed immediate ambulatory care for various surgeries required oxygen gas for life care settings, will fuel the market demand for the oxygen gas in the global Medical Gases and Equipment market. Besides, rising technology and improved equipment design, which is portable, lightweight, helps in the booming of the medical industry.
The rising pollution due to industries waste, vehicle smoke, coupled with obesity, changing eating habits, and lifestyle of the people have increased the chronic diseases. The respiratory diseases are mainly prevalent in the geriatric population, which also fuels the chances of getting a heart attack, diabetes. Thus, the rising cases of chronic diseases due to various factors are fueling the demand for the global medical gas and equipment market.
The advancement in technology in the healthcare industry has improved the chances of saving lives and smoothening the flow between patient and doctor. The rising technology has redesigned various functions, tools, of the hospitals to improve the quality of care given to the patients. The technology advancement has reduced the cost of the equipment coupled with portability and educational content, which has bolstered the global gas and equipment market.
Based on product, the global Medical Gases and Equipment market segmented into Oxygen, Medical Air, Nitrogen, Carbon Dioxide, Nitrous Oxide, Helium, Ethylene Oxide, Blood-gas Mixture, Cylinder, Hoses, Manifold, Regulator. The oxygen gas has dominated the market of the global Medical Gases and Equipment market. Oxygen considered as the life support system for human beings, and it majorly required for the person suffering from a respiratory problem. In addition to it, the rising geriatric population, chronic respiratory diseases, coupled with road accidents where the patient needs immediate oxygen gas for survival makes oxygen gas holds the largest market share in the Medical Gases and Equipment market worldwide. Moreover, the cylinder will also fuel the market demand in the future as it contains pure gases and majorly used in homes and healthcare setups.
Based on the Application, the global Medical Gases and Equipment market classified into Therapeutic, Diagnostics, Pharmaceutical manufacturing, and research and Other. The therapeutic segment dominated the largest market share in the global Medical Gases and Equipment market. The therapeutic further segmented into Respiratory Diseases, Cardiovascular Diseases, Anesthesia, Cryosurgery, and Others. Respiratory diseases and cardiovascular diseases are the primary growth factor in deriving the market demand for the global Medical Gases and Equipment market. It is owing to increasing pollution coupled with obesity in children, adults. The geriatric population has increased respiratory diseases. Therefore, the therapeutic segment will fuel the market value of the global Medical Gases and Equipment market.
Based on end-use, the global Medical Gases and Equipment market distributed into Hospitals, Home Healthcare, Pharmaceutical, and Biopharmaceutical Companies, Diagnostic and Research Laboratories, Academic Institutes, and Research Institutes. The hospital’s segment holds the largest market share in the global Medical Gases and Equipment market. It is mainly owing to the usage of medical gases and medical equipment in hospitals. Additionally, increasing medical facilities with advance equipment and infrastructure have also added to the rising demand for hospitals in the global Medical Gases and Equipment market.
Based on geography, the global Medical Gases and Equipment market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America will be expecting to witness the highest growth during the forecast period from 2020-2027. North America dominates the Medical Gases and Equipment market. The rising disposable income, advancement in technology, rising geriatric population, emerging obesity population, and increasing incidence related to respiratory diseases have fueled the demand for the global Medical Gases and Equipment market.
Companies such as Air Products and Chemicals, Inc., Linde Group, Air Liquide, Praxair, Inc., Taiyo Nippon Sanso Corp., SOL SpA, Atlas Copco, Messer Group GmbH, and GCE Holding AB and among others are key players in the global Medical Gases and Equipment market.