Medical Gas Equipment Market Size By Product (Manifolds, Outlets, Hose Assemblies and Valves, Alarm Systems, Cylinders, Flowmeters, Regulators, Medical Air Compressors, Vacuum Systems, Masks), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Japan, China, Brazil, Mexico, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

Industry Trends

Medical Gas Equipment Market size was USD 3.7 billion in 2015, with 7.7% CAGR estimation from 2016 to 2024.

U.S. Medical Gas Equipment Market Size, by Product, 2012- 2024 (USD Mn)

Growing geriatric population, increasing number of hospitalizations and rising demand for home healthcare and point of care diagnostics will drive global medical gas equipment market size. Rise in old age population has resulted in growing prevalence of respiratory diseases generating demand of medical gas administration for over 55%-60% of hospitalized patients. As per WHO, the population above age 65 slated to increase from 7% in 2000 to 16% by 2050, thus triggering the demand for medical gas equipment.

Favorable regulations such as implementation of U.S. FDA Safety and Innovation Act coupled with supportive business environment from organizations such as CGA (Compressed Gas Association) and GAWDA (Gases and Welding Distributors Association) should be pivotal factors driving global medical gas equipment market size.

Increasing healthcare expenditure in emerging markets of China and India will present high future growth opportunities in ancillary markets such as home healthcare. Entry of rising number of manufacturers in these emerging markets will drive medical gas equipment market share.

Medical Gas Equipment Market, By Product

Vacuum systems was the largest medical gas equipment market share segment holding over 31% industry revenue share, with target market size slated to exceed USD 2.2 billion by 2024. The large industry share was owing to extensive market penetration and high price associated with these products.

Medical masks should be among the most lucrative segments with 9.2% growth expectation over the forecast period. Rising demand for these products coupled with low manufacturing cost should boost medical gas equipment market segment growth. Medical regulators and gas outlets should also witness healthy growth attributed to growing number of initiatives undertaken to enhance safety of these devices.
 

Medical Gas Equipment Market, By Region

U.S. medical gas equipment market share was over 81% in 2015, with target revenue slated to exceed USD 2.4 billion by 2024. Improved access to healthcare infrastructure, rising demand for minimal invasive medical interventions and favorable industry initiatives such as implementation of U.S. FDA Safety and Innovation Act will drive business growth.

Europe medical gas equipment market size was over USD 1 billion in 2015, with expectations to surpass USD 1.9 billion by 2024, owing to assistance provided by European Industrial Gases Association, Medical Gas Association to the industry players and lucrative growth opportunities in emerging regions of Russia and Poland. However, inconsistent regulatory framework pertaining to medical gas equipments should impede regional industry growth.

China medical gas equipment market size will witness strong 10% growth over the forecast period, to reach over USD 472 million by 2024. Presence of large geriatric population base, high prevalence of pulmonary diseases, and rising number of emergency medical conditions should fuel rapid medical gas equipment market growth.
 

Competitive Market Share

Global medical gas equipment market share was dominated by Air Liquide and Linde Gas in 2015, together grabbed over 38% of industry revenue. The largest share of Air Liquide should be attributed to its extensive product portfolio, implementation of robust growth strategies and rapid sales growth achieved through investments in emerging Asian, and Latin American economies.

Other notable industry participants include Praxair, Air Gas, Air Products and Chemicals, Matheson Tri-Gas, and BeaconMedaes.

Medical Gas Equipment industry Background

Implementation of Food and Drug Safety and Innovation Act in July, 2012 by the U.S. Congress is expected to drive medical gas equipment market size over the forecast period. The industry drivers include, elimination of Drug User Fees for medical gas manufacturers. As per Gas and Welding Distributors Association (GAWDA), Drug User Fee for a traditional drug company ranges between USD 98,970 – USD 1,841,500) to provide designated medical gases as approved drugs for common pure medical gases and mixtures.

Theft of medical gas equipment especially cylinders, pipelines and accessories is expected to impede market growth over the forecast period. For example, thefts of nitrous oxide and ENTONOX (nitrous oxide-oxygen) cylinders cause unnecessary expenses for healthcare organizations. The organizations are becoming increasingly diligent and are also taking help from consultancy firms to curb the theft incidents. Organizations such as AsteRisk, provide training and safety solutions to medical gas and equipment manufacturers and users.
 

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