Global Medical Gases Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Global Medical Gases Market: Introduction

“The global Medical Gases Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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Medical gas is pharmaceutical gaseous molecules which offer solutions to medical needs. Gases are an essential part of modern medicine. Gases assist with respiration and anaesthesia, allow specialists to study the functioning of the lungs and cardiovascular system, and are essential tools in diagnosis and cryosurgery.

Medical gas is clean and contamination free gases used in hospitals and healthcare facilities. The medical gases used in a hospital are life-supporting element that gives direct influence in maintaining the life of a patient. Medical gases are used to synthesize, sterilize, or insulate processes or products which contribute to human health and also inhaled by patients in a technique known as gas therapy.

Licensed manufacturers and the gases provided provide medical gases must meet the quality controls which have been established by a jurisdiction's prescription drug regulating agency.

Increasing prevalence of respiratory diseases are the major driving factors of the global medical gases market. According to Global Burden of Disease Study reports 2016, prevalence of 251 million cases of chronic obstructive pulmonary disease (COPD). In addition, increasing number of hospitalizations, rising demand for home healthcare, increasing point of care diagnostics, growing ageing population, increasing incidence of chronic disease, changing lifestyle are the factors fuelling the demand for medical gases.

Factors such as change in the medical gas calibration standards, declining federal reimbursement for respiratory therapies, and stringent government rule and regulation are expected to hinder the market growth of medical gases.

The prominent players in the medical gas market are focusing on strategic partnership or collaboration to reach masses and expand their presence in the global medical gases market.

Global Medical Gases Market: Segment Analysis

Among the end user segments, the hospitals segment is expected to account for significant revenue share in the global market, owing to increasing number of patient footfalls in the hospitals.

Global Medical Gases Market: Region Analysis

The market in North America currently dominates the medical gases market owing to high prevalence of patients with respiratory disorders, and growing aging population. According to Centers for Diseases Control and prevention, in 2017 almost 16 million Americans has been diagnosed with COPD. Asia Pacific medical gas market is the emerging region due to attributed to increasing healthcare awareness, rising healthcare expenditures, growth in the aging population, and growth in per capita income.

Global Medical Gases Market Segmentation:

On the basis of product:

• Medical pure gases
• Oxygen gases
• Carbon dioxide gases
• Nitrogen gases
• Helium gases
• Medical gases mixture
• Blood gas mixtures
• Laser gas mixtures
• Carbon dioxide-oxygen mixtures
• Others (includes, Lung diffusion mixtures, Helium-oxygen mixtures, Ethylene oxide)
• Biological Atmospheres
• Aerobic gas mixtures
• Anaerobic gas mixtures

On the basis of equipment:

• Air Compressors
• Masks
• Vacuum Systems
• Manifolds
• Outlets
• Valves
• Other (include, Alarm Systems, Cylinders, Flow meters and regulators)

On the basis of end user:

• Hospitals
• Home Healthcare
• Emergency Services
• Pharmaceutical Industry
• Academic & Research Institutions

On the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa