Report Coverage
The ort: “Medical & Pharmaceutical Gases & Equipment Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Medical & Pharmaceutical Gases & Equipment Market.
By Composition: Concentrate/Pure gases (Nitrogen, Helium, Carbon dioxide, Oxygen, and others), Dilute/Mixture gases (Blood gas mixtures, Sterilant gas mixtures, lung diffusion mixtures, and others).
By Application: Therapeutics, Anesthetic, and Research.
By Equipment Type: Masks, Manifolds, Air compressors, Cylinders, Hose assemblies, Flowmeters, and Others.
By End User: Hospitals, Clinics, Cancer treatment centers, ASCs, Biotech Industries, and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).
Key Takeaways
- Geographically, the North America Medical & Pharmaceutical Gases & Equipment Market accounted for the highest revenue share in 2021. However, Asia-pacific is poised to dominate the market over the period 2022-2027.
- Enlarging the elderly population, a frantic upsurge in the prevalence of cardiovascular complications CVDs is said to be a preeminent driver driving the growth of the Medical & Pharmaceutical Gases & Equipment Market. whereas, health problems associated with medical gases are said to reduce the market growth.
- Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Medical & Pharmaceutical Gases & Equipment Market report.
Medical & Pharmaceutical Gases & Equipment Market Segment Analysis-By Composition
Medical & Pharmaceutical Gases & Equipment Market Segment Analysis-By End User
The Medical & Pharmaceutical Gases & Equipment Market based on end-user can be further segmented into hospitals, clinics, cancer treatment centers, ASCs, biotech Industries, and others. The hospital segment held the largest share in 2021. The growth is owing to broadening hospitalization trends as chronic illnesses are on the loose and roaming around the globe. Moreover, the COVID-19 has played a significant role in upsurging hospitalization. Many COVID patients witness lower levels of oxygen in the blood which drives the tissues and organs of the body to starve. This condition obligates constant access to oxygen. Therefore, to meet the shooting up demand hospitals are supposed to be in a fit state all the time to meet the requirements. In today’s world hospitals have a far-reaching presence throughout the countries whether it’s a city or pastoral area it doesn’t matter. That is why they have become the first and foremost point of contact for people who want to undergo some sort of treatment. Moreover, the hospital segment is estimated to be the fastest-growing segment with a CAGR of 7.3% over the forecast period 2022-2027. This growth is owing to the enlightening infrastructure of hospitals with heightened government spending post-COVID-19.
Medical & Pharmaceutical Gases & Equipment Market Segment Analysis-By Geography
The Medical & Pharmaceutical Gases & Equipment Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 36% of the overall market in 2021. The growth in this segment is owing to the factors such as the heavy pervasiveness of asthma. The US dominates when it comes to bronchial asthma due to widespread obesity. According to the American Lung Association, being overweight can narrow the lungs by encircling pressure and set breathing difficulties in motion. More than 40% of adults in the US are obese. Similarly, gun violence leads to thousands of injuries every year, and the immense spread of cancer cases especially breast and lung cancer are quite high which is also driving the growth in the respective segment. However, Asia-pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to the soaring elderly population which is shooting up the incidences of heart attack and cancer. Besides cancer and heart attack the worst air quality is another big factor behind amplified hospitalization. India and China are home top cities with the worst particulate matter (PM2.5) concentration which impairs the lungs of residents more than 30 times the WHO satisfactory levels. According to a report published in 2021, Asia is the epicenter of the most polluted cities worldwide. Out of the most 100 polluted cities all around the globe, 46 lie in India, and 42 are situated in China. Considering the aforementioned factors, the number of people afflicted with chronic obstructive pulmonary disease (COPD) is rising.
Medical & Pharmaceutical Gases & Equipment Market Drivers
Shooting up chronic illnesses is Anticipated to Boost Product Demand.
Jumping incidences of chronic illnesses is a major factor behind the growth of the medical & pharmaceutical gases and equipment market. According to the report, chronic maladies like heart attack and cancer are the biggest reason for increased mortality rates all over the globe. More than 600,000 people die from heart attacks in the US. Moreover, around 17-18 million lose their lives due to coronary heart diseases worldwide. Now as a major faction of the total world population is turning old these numbers are anticipated to witness a spike before long. It is estimated that are going to be 1-2 billion old people on this planet before long. All these factors are contributing their fair share to the growth of the aforementioned market.
Augmenting obesity and hospitalization ascribing to COVID-19 are Expected to Boost Product Demand.
COVID-19 is the prime reason behind the increased hospitalization in the last two years. Studies have found a direct link between COVID-19 and respiratory distress syndrome (ARDS) as the lungs are the most overwhelmed organ of the body. On another hand, the prevalence of chronic obstructive pulmonary disease (COPD) has become so common that every year India record more than 10 million cases. Likewise, the U.S. has recorded 16 million cases in 2021. Moreover, the budding trend of obesity due to poor intake and reduced activity is another reason driving the growth of the respective market.
Medical & Pharmaceutical Gases & Equipment Market Challenges
Health complications associated with medical gases are Anticipated to Hamper Market Growth.
Although incidences of serious health hitches associated with medical gases occur once in blue moon but still in many cases inhalation of gases like carbon dioxide and nitrous oxide can erupt many severe health complications which can be factor incongruent with the growth of medical & pharmaceutical gases & equipment market. CO2 exposure sets health hitches like tingling, asphyxia, uneven heartbeat, convulsion, and nuisances in motion. According to National Center for Biotechnology Information, the incidence of birth asphyxia in most developed countries accounts for less than 0.1% of newborn deaths. But, in developing countries, it ranged from 4.6/1000 to 7–26/1000 live births. More than 25.0% of the world's newborn deaths have occurred in Africa. Of those, birth asphyxia accounts for 24.0%. Moreover, excess nitrous oxide may give rise to nerve damage, coma, seizures, and loss of life in some cases.
Medical & Pharmaceutical Gases & Equipment Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Medical & Pharmaceutical Gases & Equipment Market. Key companies in this market are-
- Linde Group
- BeaconMeadaes LLC
- Air Liquide
- BPR Medical
- INOX Air products
- Praxair
- Gulf Cryo
- Messer group
- Taiyo Nippon Sanso
- Atlas Copco
Recent Developments
- On April 19, 2022, FDA approved GE Healthcare software that automates anesthesia and reduces greenhouse gas emissions during surgery. The software is cleared for use with GE Healthcare’s Aisys CS2 anesthesia delivery system.
- On May 11, 2021, Sweden-based company “Atlas Copco” which develops and manufactures air compressors announced that it has successfully acquired North Carolina, United States-based company “Compressed air system Inc.” the financials of this deal were kept hidden but the acquisition is supposed to extend several advantages to Atlas Copco to enhance its overall reach to its customers.
- On April 3, 2019, German industrial gas supplier “Messer Group” and British equity and investment company “CVC Capital partners” concluded an acquisition deal with “Linde.” Under the deal, Messer acquired many gases businesses which are located in America from Linde. The total value of this transaction was around $3.3 billion.
