Multiple Opportunities to Drive Medical Gas Equipment Market| Key Players: Matheson Tri-Gas, Praxair, Air Gas, Medical Gas Solutions, Ohio Medical, Amico Corp, Air Liquide, Air Products Chemicals

Global Medical Gas Equipment Market is set to exceed USD 7.2 billion by 2024; according to a new research report by Global Market Insights. Growing geriatric population base is one of the major factors responsible for the growth of medical gas equipment market growth. Increasing average life expectancy, growing healthcare infrastructure and decreasing fertility are few of the major reasons responsible for the growth of geriatric population. As per the estimates of United Nations (UN), the geriatric population is expected to reach 2.1 billion by the year 2050. This product meets specific needs of the patient and is more user friendly. As number of in-patients will increase, the demand for medical gases such as oxygen supply will increase, thereby driving the market growth.

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U.S. market contributed to largest revenue of USD 1,472.6 million in North America in 2017. High disposable income and various government policies such as implementation of U.S. FDA Safety and Innovation Act will foster business growth. Growing burden of chronic obstructive pulmonary disease and emergency asthma cases will aid in growth of medical gas equipment business. Moreover, various insurance and reimbursement policies by Center for Medicare and Medicaid Services will foster regional growth in foreseeable years.

Germany medical gas equipment market will grow at 6.7%, owing to high pervasiveness of pulmonary artery disease. According to Institute for Health Metrics and Evaluation, COPD ranks 5th in terms of disease causing most deaths. Adoption of unhealth habits such as smoking are major cause of high prevalence rate. High prevalence rate and increasing healthcare expenditure will further lead to business growth in the future.

Japan medical gas equipment market contributed to revenue size of USD 291.2 million in 2017 owing to increasing geriatric population coupled with rising burden of respiratory disease. According to Japan's Ministry of Health Labor and Welfare (MHLW), currently, about 20% of the Japanese population aged above 60 years. Favorable insurance policies in Japan will increase adoption rate of medical gas equipment, thereby propelling industry growth.

Vacuum systems market was valued at USD 1,337.3 million in 2017 owing to increasing need of medical air in healthcare settings. High growth rate is attributable to various technological advancements for developing cutting-edge vacuum systems. Decreased noise level system and efficient cleaning system offers low maintenance, thereby enabling installation of vacuum systems at point of use and saving cost. Various ongoing introduction of novel vacuum system designs and continuous technological improvements will augment the business growth in the upcoming future.

Manifolds market will expand at 7.7% CAGR during the forecast timeframe owing to various technological advances and growing demand for medical air. With wide array of applications in different healthcare settings such as hospitals and ambulatory surgical centers, manifold systems will witness significant growth in the future. Moreover, various technological advancements aimed for optimizing medical gas supply in hospitals will significantly increase demand for manifold systems in the future. Such factors will favour segmental growth in recent years.

Few of the notable industry players operating in global medical gas equipment market are Air Liquide, Allied Healthcare Products Inc., Amico Corp., BeaconMedæs, Gentec Corp., Linde Gas, Matheson Tri-Gas Inc., Ohio Medical, Powerex and Praxair Inc. These companies are opting strategies such as novel product launch, mergers and acquisitions to foster business in medical gas equipment industry.

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Medical Gas Equipment Market, by Product

Manifolds
Outlets
Hose Assemblies and Valves
Alarm Systems
Cylinders
Flowmeters
Regulators
Medical Air Compressors
Vacuum Systems
Masks

Medical Gas Equipment Market, by End-User

Hospitals
Clinics
Ambulatory surgical centers

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