Medical Gases and Equipment Market - Growth, Trends, and Forecasts (2020 - 2025)

The major factors driving the growth of the medical gases and equipment market include the rising demand for home healthcare and point-of-care diagnostics, the increasing burden of respiratory diseases, and favorable initiatives undertaken by government organizations.

• Chronic respiratory diseases (CRDs) are chronic diseases of the airways and other structures of the lung. Common lung diseases are asthma, chronic obstructive pulmonary disease, occupational lung diseases, and pulmonary hypertension. According to WHO, more than 3 million people die each year from chronic obstructive pulmonary disease (COPDs), an estimated 6% of all deaths worldwide, and about 235 million people are suffering from asthma. WHO estimates COPD to become the third leading cause of death globally by 2030.
• Though these are not curable, various forms of treatment help dilate air passages and improve shortened breath and increase the quality of life for people suffering from these diseases. Oxygen therapy is used for some chronic lung conditions, and COPD is one of these conditions. Oxygen is used to take the strain off one's heart, not lungs. It helps in preventing pulmonary artery hypertension. Long-term oxygen use can help relieve the strain on the heart. Other medical gases are also used to treat different chronic respiratory conditions, and the increasing prevalence of respiratory diseases acts as a driver for the growth of the medical gases and equipment market.

Key Market Trends

The Pure Medical Gases Sub-segment is Expected to Show Good Growth over the Forecast Period

The pure medical gas sub-segment is expected to be the fastest-growing segment, owing to the large usage of oxygen gas, as the oxygen gas provides a base for all modern anesthetic techniques and life support for artificially ventilated patients. The rising incidence of chronic diseases and road accidents across the world are major factors boosting the growth of the market. The patients admitted to intensive care units and ambulatory care for various types of surgeries require oxygen gas for life support. The oxygen supply sources are divided into two categories, namely bulk oxygen systems and cylinder-manifold-supply systems. According to the estimates of the Insurance Institute for Highway Safety (IIHS) and Highway Loss Data Institute (HLDI), in 2017, there were 34,247 motor vehicle crashes in the United States, leading to around 37,133 deaths. Thus, owing to the increasing cases of road accidents, there may be a huge demand for oxygen in various life care settings. Thus, due to the aforementioned factors, the market is expected to witness a high growth rate over the forecast period.

North America is Expected to Account for the Largest Market Share

North America held a major share in the medical gases and equipment market, and it is expected to show a similar trend over the forecast period, without significant fluctuations. This steady growth rate is majorly attributed to the increasing use of medical gases and equipment in the management of various respiratory diseases, such as COPD and asthma. The growing incidences of COPD, asthma, and other medical conditions, such as cardiovascular and lifestyle-related diseases, are expected to drive the demand for medical gases and equipment in the United States, during the forecast period. The presence of state-of-the-art healthcare facilities, especially intensive care units, a well-established medical gas market, a high prevalence of patients with respiratory disorders, and the growing geriatric population have contributed to the largest share of the US market. In the United States, the medical gas sector is in the middle of a shift in standards, analysis, and delivery procedures, which results from the current increase in the use of home oxygen therapy to the modernization of medical gas standards and the means of supply.

Competitive Landscape

The market studied is moderately consolidated, owing to the presence of a few key players in the market. Some of the market players are Air Liquide, Air Products and Chemicals Inc., Amico Group of Companies, Atlas Copco, BeaconMedaes, the Linde Group, Flogas, Messer Group GmbH, Matheson Tri-Gas Inc., and Taiyo Nippon Sanso Corporation.

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TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Deliverables
• 1.2 Study Assumptions
• 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Rising Demand for Home Healthcare and Point-of-care Diagnostics
  • 4.2.2 Increasing Prevalence of Respiratory Diseases
  • 4.2.3 Favorable Initiatives Undertaken by Government Organizations
• 4.3 Market Restraints
  • 4.3.1 Stringent Regulatory Process
  • 4.3.2 Limited Healthcare Reimbursement
• 4.4 Porter's Five Forces Analysis
  • 4.4.1 Threat of New Entrants
  • 4.4.2 Bargaining Power of Buyers/Consumers
  • 4.4.3 Bargaining Power of Suppliers
  • 4.4.4 Threat of Substitute Products
  • 4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

• 5.1 By Product
  • 5.1.1 Medical Gases
    • 5.1.1.1 Pure Medical Gases
    • 5.1.1.2 Medical Gas Mixtures
    • 5.1.1.3 Biological Atmosphere
  • 5.1.2 Medical Gas Equipment
    • 5.1.2.1 Compressors
    • 5.1.2.2 Cylinders
    • 5.1.2.3 Hose Assemblies and Valves
    • 5.1.2.4 Masks
    • 5.1.2.5 Vacuum Systems
    • 5.1.2.6 Other Medical Gas Equipment
• 5.2 By End User
  • 5.2.1 Hospitals
  • 5.2.2 Ambulatory Care
  • 5.2.3 Other End Users
• 5.3 Geography
  • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Mexico
  • 5.3.2 Europe
    • 5.3.2.1 Germany
    • 5.3.2.2 United Kingdom
    • 5.3.2.3 France
    • 5.3.2.4 Italy
    • 5.3.2.5 Spain
    • 5.3.2.6 Rest of Europe
  • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 Japan
    • 5.3.3.3 India
    • 5.3.3.4 Australia
    • 5.3.3.5 South Korea
    • 5.3.3.6 Rest of Asia-Pacific
  • 5.3.4 Middle-East and Africa
    • 5.3.4.1 GCC
    • 5.3.4.2 South Africa
    • 5.3.4.3 Rest of Middle-East and Africa
  • 5.3.5 South America
    • 5.3.5.1 Brazil
    • 5.3.5.2 Argentina
    • 5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE

• 6.1 Company Profiles
  • 6.1.1 Air Liquide
  • 6.1.2 Air Products and Chemicals Inc.
  • 6.1.3 Amico Group of Companies
  • 6.1.4 Atlas Copco
  • 6.1.5 BeaconMedaes
  • 6.1.6 Flogas
  • 6.1.7 Matheson Tri-Gas Inc.
  • 6.1.8 Messer Group GmbH
  • 6.1.9 Taiyo Nippon Sanso Corporation
  • 6.1.10 The Linde Group

7 MARKET OPPORTUNITIES AND FUTURE TRENDS