Medical Gas Market is expected to display a steady growth by 2027|CAGR: ~7%| UnivDatos Market Insights
NOIDA, India, July 19, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights the Medical Gas Market is expected to grow at a CAGR of around 15% from 2021-2027. The analysis has been segmented into Product Type (Pure Gases and Mixture of Gases), Application (Therapeutic, Diagnostics, Pharmaceutical Manufacturing, and Others), End-users (Hospitals, Ambulatory Surgical Centers, Home Healthcare, Pharmaceutical, and Biotechnology Companies, and Others); Region/Country.
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The Medical Gas market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the medical gas market. The medical gas market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Medical Gas market at the global and regional levels.
Market Overview
Factors such as the increasing prevalence of chronic diseases, rising pollution levels coupled with increasing incidence of respiratory diseases because of the high prevalence of tobacco use are expected to drive the market. As per CDC, in 2020, 12.5% of U.S. adults (an estimated 30.8 million people) smoked cigarettes: 14.1% of men, and 11% of women. Furthermore, the rising geriatric population along with the surging preterm birth cases and the rising prevalence of pulmonary diseases is significantly driving the market for medical gases. For instance, the WHO data states that more than 3.0 million people die each year from Chronic Obstructive Pulmonary Disease (COPD), accounting for approximately 6% of all deaths worldwide and might become the third leading cause of death in the world by 2030.
The global Medical Gas Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on product type, the market is segmented into pure gases and a mixture of gases. The pure gases segment held a significant market share in 2020. The rising prevalence of chronic diseases and road accidents around the world are major factors driving the segmental growth. For instance, as per the United Nations, 2021 statistics, road accidents account for 1.3 million yearly deaths and 50 million injuries globally. As a result of the rising number of road accidents, the need for oxygen therapy in various life care settings is increasing exponentially.
- Based on application, the market is segmented into therapeutic, diagnostics, pharmaceutical manufacturing, and others. The therapeutic segment grabbed a significant share in the medical gas market in 2020. This is mainly due to the broad range of gases used in therapeutics. Furthermore, the rising number of surgeries and the rapidly increasing geriatric population, and the rising prevalence of various chronic diseases among them are responsible for the growth of the market for medical gases. The demand for the segment was also boosted by the COVID-19 pandemic due to its effect on the pulmonary system.
- Based on end-users, the market is segmented into hospitals, ambulatory surgical centers, home healthcare, pharmaceutical, and biotechnology companies, and others. The hospital segment held a significant market share in 2020. In hospitals, all kinds of commercially available medical gases such as oxygen (O2), nitrogen (N2), medicinal air, CO2 (CO2), and nitrogen protoxide (N2O), are widely used. The medical gases are used in different medical procedures such as surgeries, emergencies, and intense care units such as ICUs.
Medical Gas Market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Italy, France, Spain, and the Rest of Europe)
- Asia-Pacific (China, India, Australia, Japan, and the Rest of Asia-Pacific)
- Rest of the World
For a better understanding of the market for medical gases, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the medical gases industry owing to the presence of well-established infrastructure and rising geriatric population in the region along with the availability of market players and frequent product launches in the region. For instance, GCE Healthcare launched a new design for a high-pressure gas regulator named MediTec™ that can be utilized for both resuscitation and cluster headache treatments.
The major players targeting the market include
- Air Products and Chemicals Inc.
- Linde Group
- Air Liquide
- Praxair Inc.
- Taiyo Nippon Sanso Corp.
- SOL SpA
- Atlas Copco
- Messer Group GmbH
- GCE Holding AB.
- Matheson Tri-Gas Inc.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Medical Gas market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Medical Gas market?
- Which factors are influencing the Medical Gas market over the forecast period?
- What are the global challenges, threats, and risks in the Medical Gas market?
- Which factors are propelling and restraining the Medical Gas market?
- What are the demanding global regions of the Medical Gas market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
About UnivDatos Market Insights (UMI)
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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