Medical Gas Equipment Market - Segmented by Products, Applications, and Geography (2018 to 2023)

The recent study on the medical gas equipment market covers in-depth analysis of the market on the basis of medical gas type, application, and geography. The report also covers the country level analysis within the regions as well. In addition, the report covers the key trends in the market along with drivers and restraints during the forecast period 2018-2023. According to the report titled “Medical Gas Equipment Market - Forecasts From 2018 TO 2023”, the market is expected to surge at a good CAGR during the projected period. The report has segmented the medical gas equipment market by medical gas type as Oxygen, Carbon Dioxide, Nitrogen, Helium, Nitrous Oxide, Anesthetic Gases, and Medical Air; by application as Respiratory Therapy, Cardiovascular Therapy, Cryosurgery, Anesthesia Delivery, Medical Imaging and by geography as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. The market is expected to grow at an impressive growth rate owing to the growing health expenditure, the prevalence of cardiovascular diseases, the prevalence of respiratory diseases, and growing geriatric population worldwide. Furthermore, growing home healthcare market will provide an opportunity for the growth of the global medical gas equipment market during the forecast period and beyond.

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Prevalence of cardiovascular diseases are driving the growth of the medical gas equipment market.
Cardiovascular Diseases (CVDs) are the leading cause of death worldwide owing to the high prevalence of diseases like obesity, high blood pressure, and diabetes which lead to cardiovascular diseases. The prevalence is attributed to excessive tobacco use, unhealthy diet consumption, physical inactivity, and excessive use of alcohol. These further require treatments via major surgeries or minimally invasive surgeries. Procedures include coronary artery bypass, balloon angioplasty, valve repair, and replacement, or heart transplantation. Thus, emanating the growth of the global medical gas equipment market during the forecast period.

North America is expected to hold the largest market share.
The North America medical gas equipment market is estimated to hold the largest market share owing to the early adoption of technology, highest health spending of the United States, high disposable income and out-of-pocket expenditure where people are willing to pay more apart from the reimbursements in order to receive better health facilities. The Stakeholders in the United States are moving from volume-based to value-based care by reforming policies, programs promoting operational efficiency, technology use, population health management, wellness, and addressing the social determinants of health. There is a shift in the healthcare market dynamics owing to the better patient outcome at lower costs, changing demographics like an aging population, and a growing number of people with chronic diseases. In addition, there is a growing trend of home health care in this region where consumers prefer to be in greater control of their own health management, thus promoting the adoption of better health equipment which is convenient to use and handle, emanating the market growth during the forecast period.

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