Globalmedical gas equipment market is expected to reach USD 5,313.9 million by 2020.Growing prevalence of chronic respiratory diseases such as pulmonary disorders,cystic fibrosis and emphysema coupled with increasing geriatric population baseis expected to drive medical gas equipment market demand. Introduction oftechnologically advanced product such as new integrated multifunctional andconvenient medical gas cylinders is also expected to drive market demand bycatering to the changing requirements of healthcare practitioners.
Further key findings from the studysuggest:
Globalmedical gas masks market is expected to grow at the highest CAGR of 9.7% duringthe forecast period, owing to increasing usage rate by patients for medical gasadministration. Cylinders are also expected to grow at a CAGR of over 8.0%during the forecast period due to increasing demand for portable andlightweight cylinders with audible and visible alert mechanisms.
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NorthAmerica was the largest regional medical gas equipment market, in terms ofrevenue in 2013, owing to the presence of industry friendly organizations suchas Compressed Gas Association (CGA) and the Gases and Welding DistributorsAssociation (GAWDA) and sophisticated healthcare infrastructure. Risingprevalence of lifestyle habits such as growing number of global smokers, risingincidences of obesity and dietary irregularities are responsible for the growthof respiratory disease in this region.
AsiaPacific is expected to be the most attractive regional market over the forecastperiod, growing at an estimated CAGR of over 9% from 2014 to 2020. Growingdemand for home healthcare and point of care based treatments especially forrespiratory disorders and improving healthcare infrastructure in the emergingmarkets of India and China are some factors attributing to its rapid growthrate. Increasing prevalence of chronic respiratory disorders such as COPD(chronic obstructive pulmonary disorder) and asthma in this region is alsoexpected to drive market growth during the forecast period.
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Somekey players of medical gas equipment market include Air Products and ChemicalsInc, Air Liquide, Praxair Inc., Air Gas Inc., Ohio Medical, BeaconMedaes LLC,Allied Health Care, Medical Gas Solutions, Matheson Tri-Gas inc., Linde Gas andAmico Corp.
Majorsustainability strategies adopted by these players include introduction of newtechnologies such as the latest CNC technology and new product development suchas LIV IQ for oxygen therapy. Entering into strategic partnerships to offerexcellent customer service and expand distribution networks is also one of thekey strategies adopted; with Praxair announcing the complete acquisition ofPDMA or Praxair Distribution Mid-Atlantic, LLC, in February, 2014.
Forthe purpose of this study, Grand View Research has segmented the global medicalgas equipment market on the basis of product and region:
Global Medical Gas Equipment ProductOutlook (Revenue, USD Million, 2012 - 2020)
Manifolds
Outlets
Hose Assemblies and Valves
Alarm Systems
Cylinders
Flowmeters
Regulators
Medical Air Compressors
Vacuum Systems
Masks
Global Medical Gas Equipment RegionalOutlook (Revenue, USD Million, 2012 - 2020)
North America
Europe
Asia Pacific
RoW
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