NEW YORK, April 22, 2022 /PRNewswire/ -- The Global Medical Gases and Equipment Market is expected to clock US$ ~31.35 billion by 2031 owing to rising number of surgeries and increasing prevalence of chronic diseases that require life support system.
Growth Factor
The ongoing COVID-19 pandemic caused by Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) has affected almost every country worldwide and resulted in severe outcomes across the globe. Medical Gases and Equipment provide an effective, unbiased way to identify new coronavirus strains and other pathogens without prior knowledge of organisms. According to WHO's March 2020 report, ~14% of COVID affected population would develop severe symptoms that require hospitalization and oxygen support and 5% would require admission to an intensive care unit. Thus, COVID-19 pandemic has significantly increased demand for medical gases and equipment.
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The global medical gases and equipment market has been analyzed from four different perspectives - Type, Application, End User, and Region.
Excerpts from 'By Type Segmentation'
The global medical gases and equipment market has been segmented into two distinct categories depending on type:
- Medical gas
- Equipment
The medical gas segment is further categorized into medical pure gas and medical gas mixture.
Equipment segment is further categorized into air compressors, vacuum systems, manifolds, outlets, valves & hose assemblies, monitoring systems, and others (flow meters, regulators, etc).
The medical gas segment dominated the market with the largest share in 2020. Gases like oxygen and nitrogen are very crucial for anesthetic techniques and life support systems. Therefore, rising number hospital admissions and surgical procedures pertaining to various acute and chronic diseases are driving the demand for medical gases.
Excerpts from 'By Region Segmentation'
The global medical gases and equipment market has been segmented into:
- North America
- Europe
- Asia Pacific
- The Rest of the World (RoW)
North America commanded the largest share of the global medical gases and equipment market in 2020, followed by Asia Pacific, Europe & Rest of the World (RoW).
North America spends large amount of GDP on healthcare and thus, revenue generated from products associated with healthcare including medical gases and equipment is high in the region.
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Excerpts from 'Competitive Landscape'
The prominent players operating in the global medical gases and equipment market are:
- Air Liquide
- Praxair Technology, Inc
- Taiyo Nippon Sanso Corporation
- SOL Spa
- Atlas Copco
- Messer Group GmbH
- GCE Group
- Air Products Inc
- Linde, among others
VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
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