Industry Insight
The gases which have direct or indirect effect on medical treatment
are known as medical gases and the equipment used to facilitate or
supply medical gases into human body are called as medical gas
equipment. Introduction of favorable medical norm such as removal of
drug user fee and duties introduced by U.S. Food and Drug Administration
Safety and Innovation Act in 2012 for promoting the growth of medical
gases and its supporting equipment are expected to be the major drivers
of the market over the forecast period.
The act is likely to help the manufacturers to cut their product
cost, file for IP rights and maximize their profit margin. Adding more,
increasing geriatric population base coupled with increasing demand for
global home healthcare devices are expected to propel the growth of the
global medical gases and equipment market in coming five years.
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Rising awareness in manufacturers and consumers about medical gases
usage and safety are likely to trigger the growth of this market over
the forecast period. Establishment of favorable medical association such
as Welding Distribution Association (GAWDA), Medical Gas Association
(MGA) and Compressed Gas Association (CGA) are anticipated to drive the
market growth. Some of the factors like theft of medical cylinder &
gases, and helium storage are pulling the growth of medical gases and
equipment market in coming few years. The emerging nations provide
significant growth opportunities for this gases market owing to a huge
gap between the rising demands and limited supply of medical gases for
treatment. Moreover, increasing incidences of health and respiratory
diseases coupled with rising personal disposable income and medical
reimbursement facilities are expected to boost the market over the
forecasted period.
Product Insight
On the basis of products, the market is bifurcated into medical gases
and medical gases equipment. Due to high cost of medical gases
equipment dominated the entire medical gases and equipment market in
2013 but the medical gasesmarket is expected to witness fastest growth
rate over the forecast period. The medical gas market is
furthersegmented into oxygen, helium, nitrogen, lung gas, laser gas,
anaerobic mixtures, helium oxygen gas mixtures, carbon dioxide, medical
air and ethylene oxide.
Among these the oxygen gas market was the dominant segment in 2014
owing to large scale application in medical treatments and rising
incidences of respiratory diseases such as pulmonary diseases. The
medical gas equipment market is further classified into medical air
compressor, mask, manifolds and outlets. The medical air compressor
market is expected to witness lucrative growth over the forecast period
owing to its wide range of application such as gas cylinders.
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Regional Insight
Geographically, the global medical gas market is studied under four
main regions namely, North America, Europe, Asia Pacific and RoW. North
America was the dominant market in 2013 and contributes about 41% of
entire market share. Owing to presence of sophisticated technology in
healthcare and favorable government regulations this market will
continue to grow and maintain its leading position over the forecast
period. Asia Pacific region is anticipated to show the highest growth
rate over the forecast period due to introduction of various medical
norms by medical administrations. Rising geriatric population base in
japan and continuously developing economy of china are expecting to
record highest CAGR by 2020.
Competitors Insight
In 2013, the entire market was dominated by air liquide with over 20%
share. The firms are taking many business development strategies such
as joint ventures, acquisitions, new products and geographical
expansions. Some of the key markets players of the global medical gases
and equipment markets are Air Products Continental, Praxair Inc.,
Matheson Tri-Gas Inc., Air Gas Inc., Air Products and Chemicals Inc.,
Medical Gas Solutions, BeaconmededaesLlc, and Linde Group.
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