Medical Gases and Equipment Market Will Reach USD 23,999.1 Million by 2026
According to the report, The global medical gases and equipment market in 2019 was approximately USD 15,751.6 Million. The market is expected to grow at a CAGR of 6.2% and is anticipated to reach around USD 23,999.1 Million by 2026.
According to the data published by World Health Organization (WHO), in 2020, approximately 80% patients can recover from COVID-19 without hospital treatment. But in case of extreme situations, person may causes respiratory damage to the virus, forcing the body’s oxygen levels to decrease and make it difficult to breathe. In order to mitigate this, the medical gases and equipment is used to force blood, with elevated amounts of oxygen, into the lungs.
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Key players operating in the medical gases and equipment market not restricted to include GCE Holding AB, Messer Group GmbH, Atlas Copco, SOL SpA, Air Products and Chemicals, Inc., Taiyo Nippon Sanso Corp., Praxair, Inc., Air Liquide, and Linde Group. Key operating players in the global medical gases and equipment market are aiming towards the strategic partnerships and launches of innovative products.
The global medical gases and equipment industry is expected to provide potential opportunities to the manufacturers, vendors, and the customers across the globe. The demand for medical gas and equipment supplies has risen considerably as a result of the COVID-19 epidemic. Companies at the forefront of gas supplies to hospital facilities, as well as pharmacies serving a large number of patients at home, find that thousands of cylinders are being used and emptied daily. This has become a key factor and driving growth of the global medical gases and equipment’s market. Additionally, increasing prevalence of chronic diseases worldwide is major factor expected to fuel growth of the target market in the next 10 years. Furthermore, increasing incidence of respiratory diseases as a result of the high prevalence of tobacco use and rising pollution levels are expected to fuel growth of the target market over the forecast period.
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The global medical gases and equipment market is segmented on the basis of type, application, and end user. Based upon type segment the global market is categorized into medical gas and medical gas equipment’s. The medial gas segment is further divided into type of medical gases, form of delivery, and the mixture of medical gases. The type of medical gases are oxygen, carbon dioxide, nitrous oxide, nitrogen, medical air, and helium. Medical gases delivery form are liquid tanks, high pressure cylinders, and bulk delivery. The gases mixture are categorized into helium-oxygen mixtures, blood-gas mixtures, ethylene oxide, carbon dioxide-oxygen mixtures, lung diffusion mixtures, aerobic mixtures, nitrous oxide-oxygen mixtures. anaerobic mixtures, and laser-gas mixtures. The medical gas equipment category is divided into gas delivery systems, cryogenic products, and equipment accessories. Equipment accessories categories are hoses, manifolds, regulators, flowmeters, suction regulators, outlets, valve with integrated pressure regulator, medical air compressors, monitoring systems, and vacuum systems.
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