Medical Gas Equipment Market size to exceed $4bn by 2028

Medical Gas Equipment Market size is set to surpass USD 4 billion by 2028, according to a new research report by Global Market Insights Inc.
 

The development of portable and lightweight medical gas equipment has result as a boon to rising home healthcare market, thereby fostering the industry expansion. For instance, GCE Healthcare launched a brand-new design for its high-pressure gas regulator, MediTec. MediTec is a low weight regulator that includes option of quick connector and a flow selector for versatile usage. This development assisted the company to expand its product offerings.
 

Increasing prevalence of chronic diseases is expected to propel the market statistics

Growing surgical volume owing to the changing lifestyle boosts the medical gas equipment market forecasts. Similarly, rising chronic diseases such as cancer, diabetes, asthma, and cardiovascular disorders are anticipated to accelerate the market revenue. Medical gases form an important component of several long-term care treatment for various chronic diseases, thereby supplementing the market value. Additionally, the rising incidence of pre-term births will increase the demand for medical gas equipment.
 

Complex regulatory guidelines may limit the market growth

The market will register considerable gains on account of the frequently changing regulatory policies. Moreover, the manufacturers of medical gas equipment are required to comply with current good manufacturing practice (cGMP) requirements issued by national and regional regulatory bodies. For instance, all personnel including those working on the logistics or manufacturing floor must have the proper training, experience, and education to handle the medical gas equipment to avoid serious injury or death. Such high regulatory compliances to handle medical gas and equipment involves costs, thereby limiting the scale of profitability of market.
 

Browse key industry insights spread across 151 pages with 127 market data tables & 15 figures & charts from the report, Medical Gas Equipment Market Analysis By Product (Manifolds, Outlets, Hose Assemblies and Valves, Alarm Systems, Cylinders, Flowmeters, Regulators, Medical Air Compressors, Vacuum Systems), By End-use (Hospitals, Clinics, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/medical-gas-equipment-market
 

Rising adoption of medical air compressors owing to its several benefits will boost the market demand

Medical gas equipment market from medical air compressors segment accounted for 15.6% revenue share in 2021 and is projected to show steady gains over the forecast timeframe. Medical air compressors allow the uninterrupted flow of fresh oil-less medical air with high flow capabilities for voltage drop and low pressure, thus playing a crucial role for patients suffering from respiratory disorders, thereby augmenting the market expansion.
 

Clinics segment is likely to show lucrative CAGR during the analysis period

Medical gas equipment market from clinics segment is predicted to register 6.2% CAGR to surpass USD 650 million by 2028. Clinics are well-equipped with advanced technologies and medical gas equipment, thereby fostering the market progression. Furthermore, a clinic offers expert care and consultation for various chronic diseases including respiratory disorders. Moreover, with increasing number of patient pool seeking advanced medical care for respiratory disease, the adoption rate of medical gas equipment in clinics is poised to increase over the forecast period.
 

Presence of key industry players in Europe will spur the market forecasts

Europe medical gas equipment market is estimated to expand at 5.8% CAGR during the forecast timeframe. The presence of key industry players such as Dragerwerk AG & Co. KGaA, GCE Group and Atlas Copco Group, among others will accelerate the regional industry trends. Additionally, the rising industry-hospital collaboration is also anticipated to favor the regional market share. Moreover, the presence of associations such as Medical Gas Association and the European Industrial Gases Association together with sophisticated healthcare infrastructures will drive the regional industry size.
 

Market leaders are focusing on acquiring other companies to expand its product portfolio and geographical presence

Some of the companies in the medical gas equipment industry are Air Liquide S.A., Allied Healthcare Products Inc., Amico Group of Companies, Atlas Copco Group, Colfax Corporation (GCE Group AB), GENTEC (Shanghai) Corporation, Linde plc, Ohio Medical, Rotarex S.A., Silbermann Medical Gas Systems, and Taiyo Nippon Sanso Corporation. The market players are focusing on launching innovative and technologically advanced products as well as are focused in acquiring other companies.
 

For instance, in July 2021, GCE Healthcare introduced its AVSU slide, that is suitable for pressure watch or shut-off valve box variants. This strategy enabled the company to expand its product offering and customer base.