Medical Gas Equipment Market revenue to cross USD 3.7 Bn by 2027: Global Market Insights Inc.
Medical gas equipment market for regulators segment is estimated to attain a CAGR of 6.3% till 2027 owing to the growing application of medical gases in surgeries and procedures
SELBYVILLE, Del., Nov. 10, 2021 /PRNewswire/ -- The medical gas equipment market size is anticipated to record a valuation of USD 3.7 billion by 2027, according to the most recent study by Global Market Insights Inc. The rising adoption of medical gas equipment is observed globally primarily owing to the increasing focus on upgrading healthcare infrastructure. This is mainly driven by the increasing incidence of respiratory diseases such as chronic obstructive pulmonary disease cystic fibrosis, asthma, among others.
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Regulators segment in the medical gas equipment market is expected to witness 6.3% growth rate through 2027 led by the increasing application of medical gases in surgeries and procedures. Most medical gases are compressed in cylinders with high pressure. Thus, regulators are critical for monitoring the pressure ensuring safe and effective operations. Technological enhancement to develop advanced regulators is further poised to augment the segment growth.
The hospitals segment accounted for around 38% of the market share in 2020 impelled by the increasing surgical volumes. As majority of surgical procedures are performed in hospitals, the increasing surgical volume is estimated to fuel the segment demand. Also, numerous clinical trials conducted in multi-specialty hospitals are set to provide opportunities to explore novel experimental medical therapies, thereby fostering the segment progression.
Asia Pacific medical gas equipment market size was over USD 532.6 million in 2020. Presence of key market players in the APAC region will boost the market growth. The implementation of current good manufacturing practices (cGMP) for the manufacturing of medical gases and equipment by Institute of Good Manufacturing Practices India (IGMPI) is predicted to further stimulate the industry expansion. Moreover, upgradation of healthcare infrastructure will have a positive impact on the market progression.
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A few notable companies operating in the market include Air Liquide S.A., Allied Healthcare Products Inc., Amico Group of Companies, Atlas Copco Group, Coflax Corporation (GCE Group AB), GENTEC (Shanghai) Corporation, Linde plc, Ohio Medical, Rotarex S.A., Silbermann Medical Gas Systems, and Taiyo Nippon Sanso Corporations. Industry leaders are focusing on various strategies such as product launch, strategic partnerships, and business expansion to consolidate their market presence.
Table of Contents (ToC) of the report:
Chapter 3 Medical Gas Equipment Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By end-use
3.5 COVID-19 impact analysis
3.6 Porter's analysis
3.7 Competitive landscape, 2020
3.7.1 Competitive matrix analysis
3.8 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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SOURCE Global Market Insights Inc.
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