Medical Gases Market By Products (Pure gases, Medical Gas Mixtures, and Medical Gas Equipment), By Application (Therapeutic, Diagnostics, and Others) And Geography (North America, Europe, Asia Pacific, And Rest Of The World) - Share, Analysis & Forecast F

The medical gases market is estimated to represent a global market of USD 7.7 billion by 2017 with growth rate of 7.1%. Medical gases are pharmaceutical molecules, specifically used for the medical, biotechnology and pharmaceutical industries. These are widely used for the treatment of patients in hospitals, clinics as well as in emergency services. Additionally, these are used to synthesize, insulate or sterilize medical products. Increasing prevalence of lifestyle and chronic diseases stimulate the market for medical gas during the future period. According to the WHO, the chronic diseases (chronic respiratory diseases, heart disorder, stroke, cancer, and diabetes) are responsible for 38 million deaths (around 68% of all deaths worldwide) in 2012. Each year, 16 million people die from NCDs before the age of 70. Additionally, constant aging population, growing demand for home care, and technological advancements will support the market growth to great extent. However, medical gases and its associated equipment are highly regulated by the Center for Drug Evaluation and Research and the U.S. Food and Drug Administration. A violation of the act leads to court-enforced trials including seizure of the finished product, ingredients, and the equipment; a permanent or temporary ban on the manufacturing or filling of compressed medical gases; and criminal prosecution. Such facts will hamper the market growth.

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Product Takeaway

Pure gases, Medical Gas Mixtures, and Medical Gas Equipment are the product segments of the market. Among which, medical gas equipment accounted for the largest share of the market, more than 52% share in 2017. The pure gas segment is divided into Oxygen, Medical Air, Helium, Carbon Dioxide, Nitrogen, and others. These gases are used in variety of medical applications. For example, oxygen is a medical gas, used in all healthcare setting. It is also used for inhalation and resuscitation therapy. Oxygen is used for the treatment of conditions such as cyanosis, COPD, carbon monoxide poisoning, shock, hemorrhage, trauma, respiratory arrest, and cardiovascular disorders.

Gas Mixture & Equipment Segment Takeaway

Gas mixture segment is bifurcated into Helium-Oxygen Mixtures, Carbon Dioxide-Oxygen Mixtures, Blood Gas Mixtures, Oxygen-Nitrous Oxide Mixtures, Laser Gas Mixtures, Lung Mixtures and others. By Equipment, the market is categorized as Manifolds, Vacuum Systems, Alarm Systems, Flowmeters, Cylinders, and others. Manifolds and Vacuum Systems are major revenue generating product segment in 2017 and expected to dominate the market over the forecast period.

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Application Takeaway

Application of medical gases in therapeutic field captured the largest share of the global market. In 2017, the therapeutic application recorded 47.23% share of the total market. Therapeutic medical gases offer huge impact as a new and innovative therapeutic tool for unmet medical requirements. There is a broad range of medical gases that are used in treatment such as oxygen, carbon dioxide, nitrogen, oxygen-nitrous, oxide mixtures, helium-oxygen mixtures and laser gas mixtures. For example, the traditional medical gases such as oxygen and nitrous oxide play protective roles in various disease conditions such as respiratory, cardiovascular and blood vessel-related problems. Diagnostic purpose of medical gases is expected to grow at highest growth rate owing to its wide application area. The increase in demand for high-end diagnostics technology and the rising blood gas analysis and lung function testing is further expected to drive the growth of this particular segment.

Regional Takeaway

Regionally, North America and Europe accounted for the largest share, captured more than 70% share of the global market, collectively. Growth of these regions is majorly attributed to the increasing demand for medical gases coupled with rising research and development activities.

Key Vendor Takeaway

The market is competitive in nature. Companies such as BeaconMedæs, Air Liquide, The Linde Group, the H.A.C. Group, Matheson, and a few others present in this market. Companies are investing rigorously to develop new or more efficient medical gas products. For example, SCI Analytical manufacture and supplies a wide range of medical gases and products that can be used by medical devices and pharma distributors as well as manufacturers. The company employs professional engineers, specialized gas scientists and research and development technicians to design new technology integrated medical gas products.

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The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2015 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2016 to 2025 for every reported segment.

The years considered for the study are:

Historical Year - 2014 & 2015
Base Year - 2015
Estimated Year - 2016
Projected Year - 2025
TARGET AUDIENCE

Traders, Distributors, And Suppliers
Manufacturers
Hospitals
Government and Regional Agencies and Research Organizations
Consultants
Distributors

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