Boston, MA -- (ReleaseWire) -- 03/21/2014 -- Medical Gases and Equipment Market by Gases (Oxygen, Medical Air, Nitrogen, Nitrous-oxide, Helium, Blood-gas Mixture, Nitrous Oxide-Oxygen Mixture), by Equipment (Cylinders, Manifolds, Regulators, Flowmeters) - Global Forecast to 2018
The global medical gases and equipment market is estimated to be worth $14,953 million by 2018.
The global medical gases and equipment market is segmented by product, end user, and geography. The medical gases and equipment market is mainly classified, by product into medical gases and equipment. It is further categorized by pure gases and by gas mixtures. The equipment market covers cylinders, vacuum systems, manifolds, regulators, suction regulators, flow meters, hoses, outlets, and monitoring systems. The report also discusses the key market drivers, restraints, and opportunities of the global medical gases and equipment market and its sub-markets.
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The overall market is mainly driven by the rising ageing population and growing incidences of chronic diseases, which adds to the global disease burden. Growth in adoption of treatment in home care settings in lieu of government initiatives to curtail healthcare costs in various countries is also expected to propel the growth of the medical gases market. The markets across APAC and the Latin American region are largely driven by growing healthcare infrastructure in the region, increased affordability of healthcare services, and increase in the disposable. However, frequently changing regulatory policies and opposing reimbursement policies for respiratory therapies are expected to dampen the market growth to a certain extent.
By 2018, oxygen will continue to drive and dominate the medical gases market. A major share of this growth can be attributed to the presence of a large patient base suffering from respiratory diseases such as COPD and sleep apnea syndrome and the increasing number of patients undergoing emergency medical care. Furthermore, cylinders are also expected to drive the growth of the medical gas equipment market. Driven by the growing home healthcare market, a majority of the players have begun manufacturing lightweight and portable cylinders with various visible and audible alert mechanisms. This will enhance patient safety in mobile oxygen therapy and address changing lifestyles. New, integrated cylinders are fast replacing the larger units due to their convenience of mobility and multi-functionality.
Companies Mentioned in this Report: AIR LIQUIDE, AIR PRODUCTS AND CHEMICALS INC., ATLAS COPCO AB, THE LINDE GROUP, PRAXAIR, INC., SOL-SPA, TAIYO NIPPON SANSO, AIRGAS, INC., MESSER GROUP GMBH, MATHESON TRI-GAS, INC.
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