New report on Medical Gases and Equipment Market Analysis By End Users Based on end-users, the medical gases and equipment market can be segmented into home healthcare, hospitals (labs and clinics), pharmaceutical and biotechnology industries and universities/research institutions. Hospitals have the highest market share due to growing number of patients suffering from respiratory diseases such as COPD, asthma, sleep apnea syndrome. Growing demand for emergency medical care from patients is also equally contributing to the market share. Additionally, the growing aging population and their demand for home care, rather than hospitals, have been accelerating the growth of home healthcare market, which is anticipated to influence the growth rate in the future.The permissive regulations by the industries in this sector such as Safety and Innovation Act by FDA and growing patient awareness are the key opportunities that drive this market. Growing geriatric population, which is prone to many targeted diseases such as COPD and other respiratory diseases, is also expected to contribute to the market demand in the future.
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Medical gases are used in healthcare industries. They are used either by patients directly, in medical procedures for sterility purposes, or as coolants. Medical gases and equipment industries are growing swiftly worldwide, due to a rising number of hospitals, home healthcare and other healthcare facilities. Moreover, this market is anticipated to grow in the future due to growing elderly population, rise in (COPD) chronic obstructive pulmonary diseases and asthma. Advancements in pharmaceutical and biotechnology industries would also drive this market. Changing regulatory policies regarding the standards of medical gases, resulting inflated prices, is the major restraint for the growth of this market. Additionally, the global shortage of helium gases is also a major challenge faced by the players in the medical gases and equipment market.Medical gases and equipment market analysis by Geography Geographically, the market is segmented into various regions such as North America, Europe, Asia Pacific and LAMEA. North America has the largest market share followed by Europe. Developed economies for example, the U.S. and Canada hold the majority of the market share due to disposable income and prevailing sophisticated medical infrastructure in these countries. Asia-Pacific is expected to grow at the fastest CAGR during the forecast period, due to factors such as a growing elderly population, increasing cases of respiratory diseases and others. Economic development, which would support the pharmaceutical and biotechnology industries, coupled with improvement of the healthcare infrastructure in emerging countries such as India and China would drive the medical gases and equipment market in this region.
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