MARKET OVERVIEW
Medical gases are defined as one that is manufactured, packaged, and intended for administration to a patient in anesthesia, therapy, or diagnosis. These gases are used within hospital settings and pharma companies for many purposes. For instance, oxygen, used to provide supplemental oxygen patients, nitrous oxide, used as an anesthetic agent carbon dioxide, used to inflate areas of the body and helium, used in breathing mixtures. In addition, these gases are used in pharma companies to synthesize, sterilize, or insulate processes or products which contribute to human health.
MARKET SCOPE
The "Global Medical Gas Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the medical gas market with detailed market segmentation by product, application, end user, and geography. The report provides key statistics on the market status of the leading medical gas market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product, the global medical gas market is segmented into pure gases, gas mixtures, and medical gas equipment. Pure gases sub segmented into oxygen, carbon dioxide, nitrogen, nitrous oxide, and helium. Gas mixtures sub segmented into carbon dioxide oxygen mixtures, oxygen-nitrous oxide mixtures, ethylene oxide, oxyfume 2000, helium oxygen mixtures, and others. Medical gas equipment sub segmented into manifolds, vacuum systems, alarm systems, flowmeters, medical air compressors, cylinders, hose assemblies, valves outlets, and others.
- On the basis of application, the market is segmented into therapeutic applications, pharmaceutical manufacturing and research, and diagnostic applications. Therapeutic applications sub segmented into cardiovascular therapies, respiratory therapies, anesthesia delivery, cryosurgery, and others. Pharmaceutical manufacturing and research sub segmented into drug discovery, pharmaceutical manufacturing, process development, and quality control. Diagnostic applications sub segmented into medical imaging, general laboratory applications, and others.
- Based on end user, the market is bifurcated into hospitals, home healthcare, pharmaceutical and biotechnology companies, academic and research institutions, and emergency services.
MARKET DYNAMICS
Drivers
- Increasing prevalence of sleep apnea diseases.
- Increasing geriatric population.
- Growing demand for point of care products and home healthcare.
- New market players are entering the market owing to the easy availability of raw materials and low capital requirement.
- Implementation of the U.S. Food and Drug Administration Safety and Innovation Act.
Restraints
- Stringent government rules and regulations.
- Shortage of helium
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The medical gas market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the medical gas market in these regions.
IMPACT OF COVID-19 ON MEDICAL GAS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. Medical gas market is severely affected due to COVID-19.
MARKET PLAYERS
The report covers key developments in the medical gas market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from medical gas market are anticipated to lucrative growth opportunities in the future with the rising demand for medical gas in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the medical gas market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Air Liquide
- Linde Gas
- Praxair Inc.
- Deagaer
- Atlas Copco
- Air Products and Chemicals, Inc.
- Matheson Tri-Gas Inc.
- Medical Gas Solutions
- Airgas, Inc.
- Messer Group
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
