Medical Gas Equipment Market Size By Product (Manifolds, Outlets, Hose Assemblies and Valves, Alarm Systems, Cylinders, Flowmeters, Regulators, Medical Air Compressors, Vacuum Systems, Masks), By End-use (Hospitals, Clinics, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Mar 2020  |  Report ID: GMI840  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 145   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Medical Gas Equipment Market Size valued over USD 5 billion in 2019 and is anticipated to grow at over 7% CAGR during 2020 to 2026. Medical gas is utilized in healthcare settings in patients for various purposes such as anesthesia, diagnosis or therapy. Various types of medical gases used in healthcare settings are oxygen, nitrogen, nitrous oxide, medical vacuum, and carbon dioxide among others.
 

Medical Gas Equipment Market

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Gas supply systems are a vital part of safe anesthetic practice and lack of awareness regarding this practice has led to many deaths over the past few years. Thus, introduction of novel medical gas equipment has largely assisted professionals operating in this space, further propelling the market growth. Additionally, oxygen is one of the most widely used gases for life support as well as respiratory therapies.
 

Medical Gas Equipment Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 5.02 Billion
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 7% 2026 Value Projection: USD 8.18 Billion
Pages: 145 Tables, Charts & Figures: 165
Geographies covered (23): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Switzerland, Japan, China, India, Australia, South Korea, Brazil, Mexico, Peru, Colombia, South Africa, Saudi Arabia, Turkey, UAE
Segments covered: Product, End-use
Companies covered (15): Air Liquide, Allied Healthcare Products Inc, Amico Corporation, Atlas Copco Group, Gentec Corporation, Linde Group, Taiyo Nippon Sanso Corporation, Powerex, Praxair Inc, Tenex Capital Management
Growth Drivers:
  • Increasing geriatric population
  • Growing demand for home healthcare and point of care diagnostics
  • Favorable initiatives undertaken by government organizations
  • Presence of untapped opportunities in emerging economies
Pitfalls & Challenges:
  • Complex and stringent regulatory process

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Favorable initiatives undertaken by government organizations will boost the adoption of medical gas across the globe

Many government initiatives and regulations including the U.S. FDA Safety and Innovation Act will drive medical gas equipment market growth. Numerous organizations such as Gases & Welding Distributors Association (GAWDA) and Compressed Gas Association (CGA) will aid in boosting the market growth. The U.S. FDA Safety and Innovation Act was able to accomplish four major targets for medical gas equipment that are essential for industry growth.
 

Protection of approved drug status for common medical gases equipment and mixtures with establishment of chosen medical gases will support industry expansion. This also enables a company to opt for property protection for development of a novel medical gas. This act needs the FDA to confer with many industry leaders regarding the safety, efficacy and adherence are the certification procedure with respect to the production of medical gases.|
 

The standards and regulations imposed by the U.S. Food and Drugs Administration Safety and Innovation Act is expected to streamline the medical gas equipment industry.
 

Varied advantages of gas manifold will augment the growth of the medial gas equipment market

Global Medical Gas Equipment Market

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Manifolds are expected to witness a higher growth rate during the forecast timeframe with a market revenue of USD 1,565.1 million in 2019. Medical gas manifolds are utilized in medical settings for supplying the correct pressure as well as volume of medical grade gas from tanks or cylinders. Few advantages of manifolds in medical gas equipment includes streamlining the handling of gas cylinders and reduction of transport costs related to gases.
 

Additionally, manifold systems are essential for continuous supply of medical gases such as oxygen, nitrogen, carbon dioxide or nitrous oxide. Wide range of applications of manifold systems in various healthcare settings such as ambulatory surgical centers and hospitals is expected to register a significant growth rate during the analysis period.
 

Medical gas equipment market from alarm systems are expected to witness a CAGR of 7.1% through 2026. Alarm systems are an essential part of gas delivery systems and play a vital role in maintaining safety of the healthcare settings especially in the medical gas market. Constant technological improvement to develop highly durable and reliable alarm systems will drive segmental growth.
 

Continuous research and technological advancements have significantly improved alarm systems. New design improvements have been developed to provide more consistent performance. Technological advances and innovative product launches by various market players will lead to increased segment growth during the forecast timeframe.
 

Increase in chronic diseases among the old age population will lead to a better adoption of medical gas equipment in the healthcare settings

Medical Gas Equipment Market by End-Use

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Ambulatory surgical centers segment is expected to grow at a higher CAGR during the forecast period with a revenue of USD 1,900.7 million in 2019. High growth rate is attributed to advanced and focused treatments offered in ambulatory surgical centers. Adoption of novel advanced technologies in ambulatory surgical centers for treatment of chronic obstructive pulmonary disease will further boost segmental market growth.
 

Hospitals acquired a major share in the market and is expected to witness a growth rate of 6.9% during the analysis timeframe. Advanced treatment procedures offered in hospitals along with growing burden of asthma will propel the hospital segment growth.
 

Hospitals provide wide array of treatments for patients suffering from chronic obstructive pulmonary disease and other complex medical conditions that cannot be safely treated in community clinics. Thus, the application of medical gas equipment in hospitals is expected to register a significant growth rate in the coming years.
 

Availability of various novel technologies in the U.S.

North America dominated the medical gas equipment market demand and is estimated to show similar trends over 2020 to 2026. One of the key factors responsible for regional growth is prevalence of various respiratory diseases. Increasing pervasiveness of chronic obstructive pulmonary disease (COPD) will serve as major impact rendering factor for the regional market growth across the forecast timeframe.
 

According to the Centers for Disease Control and Prevention (CDC), about 16 million people were affected from COPD in the U.S. High pervasiveness of COPD is attributable to adoption of unhealthy lifestyle such as tobacco smoke, increasing exposure to air pollutants, and genetic predisposition, thereby creating lucrative opportunities in the market for key industry players.
 

The continuous research & development in manufacturing innovative and superior products is expected to create lucrative opportunities for key market players

Some of the prominent players operating in the medical gas equipment market share include Air Liquide, Allied Healthcare Products Inc., Amico Corp., BeaconMedæs, Gentec Corp., Linde Gas, Matheson Tri-Gas Inc., Ohio Medical, Powerex and Praxair Inc. Growing demand for data integration and data analytics has led to development of advanced software and systems. Such innovative approaches will supplement the growth of the market during the analysis period.
 

Recent industry developments:

  • In February 2019, Air Liquide had announced the acquisition of Sleep & Health SA and Megamed AG from Switzerland. This acquisition has enabled the company in strengthening its presence in Switzerland.
     
  • In March 2019, Atlas Copco Group acquired Class 1 Incorporated from Canada. The acquisition of Class 1 Incorporated helped Atlas Copco Group to strengthen its business expansion in the Canadian territory, thereby increasing its revenue.
     

The medical gas equipment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:

By Product

  • Manifolds
  • Outlets
  • Hose Assemblies and Valves
  • Alarm Systems
  • Cylinders
  • Flowmeters
  • Regulators
  • Medical Air Compressors
  • Vacuum Systems
  • Masks

By End-use

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Switzerland
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Peru
    • Colombia
    • Others
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Turkey
    • UAE
    • Others
       

Frequently Asked Questions (FAQ) :

The market size of medical gas equipment exceeded USD 5 billion in 2019.
The industry share of medical gas equipment is estimated to expand at 7% CAGR during 2020 to 2026.
Manifolds segment held a market revenue of USD 1,565.1 million in 2019 and is expected to witness a higher growth rate during the forecast timeframe.
Alarm systems are expected to witness 7.1% CAGR during 2020 to 2026, says this GMI report.
North America is dominating the market owing to prevalence of various respiratory diseases and increasing pervasiveness of chronic obstructive pulmonary disease (COPD).
Some of the prominent players operating in the market include Air Liquide, Allied Healthcare Products Inc., Amico Corp., BeaconMedæs, Gentec Corp., Linde Gas, Matheson Tri-Gas Inc., Ohio Medical, Powerex and Praxair Inc.

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Premium Report Details

  • Published Date: Mar 2020
  • Pages: 145
  • Tables: 156
  • Charts / Figures: 9
  • Companies covered: 15
  • Countries covered: 23

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