Medical Gases Market Size Expected to Reach $10.55 Billion by 2020: Hexa Research
(firmenpresse) - FELTON, CA -- (Marketwired) -- 12/14/15 -- that find direct and indirect applications in healthcare are referred to as medical gases. In addition, equipment used to produce, distribute and facilitate medical gases are referred to as medical gas equipment. Elimination of drug user fee for medical gases and equipment as a result of the implementation of the U.S. Food and Drug Administration Safety and Innovation Act in July 2012 is the most significant growth driver of this market. This act will help the manufacturers curb costs, maximize profit margins and file for intellectual property rights for new products pertaining to the medical gases and equipment sector. Moreover, rapidly rising global base of geriatric population and rising demand of the global home healthcare market will serve this market as drivers. The global medical gases and equipment market is expected to grow at a CAGR of 8.5% over the next six years to reach USD 10.55 billion by 2020.
This study aims at providing detailed information, regarding estimates and forecasts for two major product segments namely medical gases and medical gas equipment. The medical gas equipment segment was dominated by the vacuum systems in 2013 and its market was valued at USD 982.1 million. However, high usage rates of medical gas masks will assist this market in growing at the highest CAGR during the forecast period. Furthermore, the medical gases market is segmented into medical gas mixtures and medical pure gases. The global medical oxygen segment dominated the medical pure gases market in terms of revenue share in 2013 at 44.9%.
North America, Europe, Asia-Pacific and rest of the world encompass the geographic segmentation of the medical gases and equipment market. North America dominated the global medical gases and equipment market in terms of revenue share in 2013 at over 40% majorly owing to the presence of sophisticated healthcare infrastructure and high per capita healthcare expenditure in this region. Food and Drug Administration Safety and Innovation Act in July 2012. However, factors such as graying population in Japan and rapid economic development in countries such as China will help the Asia-Pacific medical gases and equipment market exhibit the highest CAGR of 9.9% from 2014 to 2020.
Air Liquide dominated the global medical gases and equipment market in 2013 at over 20%. The presence of an extensive product portfolio enabling the company to cater to a larger clientele and its wide presence in emerging markets such as China and India are some of the factors attributing to its market dominance. Air Liquide was followed by Linde Gas in terms of market share in 2013. Mergers and acquisitions form an integral part of its business strategies aimed at improving distribution networks, establishing ancillary markets and entering nascent markets with high future growth opportunities. E.g. the company acquired Air Products Continental European to gain access into the home healthcare market and Lentech Gas to improve its market share in Russia. Some of the other market players include Matheson Tri-Gas Inc., Air Products and Chemicals Inc., Praxair Inc., Air Gas Inc. and others.
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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Datum: 14.12.2015 - 06:00 Uhr
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