Medical Gas Market Surprising Growth| Praxair Technology, Inc., Air Liquide, Atlas Copco, GCE Holding AB, Messer Group

The Global Medical Gas Market report underlines the market size, regional changing trends emerging new prospects for market growth rate and production value estimation from 2019 - 2026. This market research report is a careful investigation of the current scenario of the market and future estimations which covers several market dynamics. The report is a great resource, which provides current and upcoming technical and financial details of the industry. The report serves the analysis of the global market share, segmentation, revenue growth estimation and geographic regions of the market. The Medical Gas Market report provides top to bottom analysis and estimation of various market-related factors that play key role in better decision making.

The global medical gas market is expected to reach a healthy CAGR of 7.2% in the forecast period of 2019 to 2026. Global Medical Gas Market By Product (Medical Gases, Medical Gas Equipment), Application (Pharmaceutical Manufacturing & Research, Diagnostic Applications, Therapeutic Applications, Others), Method Of Separation (Physical Separators, Fractional Distillation, Molecular Sieve, Semipermeable Membrane, Others), End User (Hospitals, Home Healthcare, Pharmaceutical And Biotechnology Companies, Academic And Research Institutions, Emergency Service Providers, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026

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A medical gas is the gas that is manufactured, packaged, and planned for administration to a patient in therapy, anaesthesia, or diagnosis purposes. The medical gases are mainly used in home healthcare, hospitals, biotechnology & pharmaceutical companies, emergency service providers and also in academic & research institutions. Medical Air, Carbon Dioxide, Oxygen, Nitrogen and Nitrous Oxide are the most common used medical gases in the hospital areas including recovery areas, patient rooms, operating rooms, and others.

Market Segmentation:

The medical gas market is segmented into four notable segments such as Product, Application, Method of Separation, End User and Geography.

• On the basis of product, the market is segmented into medical gases and medical gas equipment. Medical gases segment is sub-segmented into Pure Medical Gases and Medical Gas Mixtures.

• On the basis of application, the market is segmented into pharmaceutical manufacturing & research, diagnostic applications, therapeutic applications and others.

• On the basis of method of separation, the market is segmented into physical separators, fractional distillation, molecular sieve, semipermeable membrane and others.

• On the basis of end user, the market is segmented into hospitals, home healthcare, pharmaceutical and biotechnology companies, academic and research institutions, emergency service providers and others.

Competitive Analysis: Global Medical Gas Market

Some of the major players operating in this market are

Air Products and Chemicals, Inc. (U.S.),
Taiyo Nippon Sanso Corporation (Japan),
The Linde Group (Dublin),
SOL-SpA (Italy),
Praxair Technology, Inc. (U.S.),
Air Liquide (France),
Atlas Copco (Sweden),
GCE Holding AB (Sweden),
Messer Group (Germany),
The Southern Gas Limited (India),
Aims Industries Ltd. (India),
Amico Group (U.S.),
GCE Group (Sweden),
Crumpton Welding Supplies & Equipment (U.S.),
Zaburitz Pearl Co., Ltd. (Myanmar),
Ellenbarrie Industrial Gases (India),
Uttam (Pakistan),
SCI Analytical (U.S.),
Rotarex (Brazil, Luxembourg, United Arab Emirates),
Allied Healthcare Products Inc. (U.S.) and many others.

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Product Launch:

• In 2016, Linde Gas has launched a new light-weight cylinder package for medical oxygen. This product will help in continuous oxygen supply at the hospital and home. This launch will help the company in the expansion of their business by grasping more customers.

• In 2015, Linde Gas has launched first cylinder filing site at Siliguri in West Bengal. This will help the company to expand their business in India and to achieve great milestone in their business.

DRIVERS:

INCREASE IN THE OCCURRENCE OF CHRONIC DISEASES

According to World Health Organization, the occurrence rate of chronic diseases is rapidly growing all over the world, causing more number of deaths. The occurrence rate of chronic diseases is increasing day by day in the worldwide population. Medical oxygen is given to the patients suffering from Chronic Obstructive Pulmonary Disease (COPD), Asthma and Chronic bronchitis.

• According to the WHO reports of 2001, 60.0% of the total reported deaths of 56.5 million in the world are due to the chronic diseases and the worldwide burden of disease is around 46.0%.

• About 133 million Americans which is 45.0% of the total population is suffering from at least one chronic disease.

• Seven out of every 10 deaths is caused due to chronic disease, in the U.S., which is more than 1.7 million deaths in America yearly

With the increase in the prevalence rate the treatment and diagnosis needs are also increasing, thus becoming a major driver for the global medical gas market.

RAPIDLY GROWING GERIATRIC POPULATION

The global population of older people continues to grow at an unmatched rate. With the growing geriatric across the world is leading to the increase of age related problems. With the increasing age the functionality of the lungs are getting weaker and the diaphragm gets weaker which leads to difficulty in opening the airway thus making the air sacs baggy and the defence mechanisms of lungs stops because of which older people becomes more susceptible to pneumonia.

• According to United Nations, in 2017, 25.0% of the European population was 60 or over. It is estimated that rapid ageing would occur in other parts of the world too, so by 2050, except for Africa, all other regions of the world will nearly have a quarter or more of their populations in the geriatric age group
With the rising geriatric population, prevalence of diseases and their treatment needs are also increasing which has led to the rise become a major driver of the medical gas market

RESTRAINT:

INCREASE IN THE PRICE OF MEDICAL GAS

According to a press release Praxair made these adjustments in response to the “rising costs” and it will support the capital investment which is required for the continued supply of Praxair’s operations.

• This is the third price increase in the last 12 months for Praxair. The company announced increase in the price by 10-20% for bulk gases and facility fees at the beginning of 2016 with a further rise of 15% for bulk industrial gases in July.

• From 1st October (2018), Air Products will also rise their product pricing, monthly service charges and surcharges for merchant customers in North America.
• The pricing hike include increase of prices up to 20% for liquid argon, 25% for liquid and bulk hydrogen, 10% for liquid carbon dioxide, 15% for liquid nitrogen and liquid oxygen and monthly survive charges.

Thus this price hike of the medical gases will act as a major market retrain for the market.

OPPORTUNITIES:

MARKET GROWTH IN EMERGING NATIONS

The rapid growth of healthcare sectors across India and China is anticipated to provide significant opportunities for market players operating in the medical gas market.

• In November 2018, Air Products and Chemicals, Inc. (U.S.) and Sonatrach (Africa) signed two new agreements for the gas production and delivery.

• In November 2018, Praxair Technology, Inc. (U.S.) expanded its nitrogen capacity in South Korea for supporting the rising need for world-scale semiconductor complex.

TECHNOLOGICAL DEVELOPMENTS

The companies are investing in the research and development activities for the innovation and invention of new products. Thus, with this we can see that various companies are adopting or implementing several new technological developments to enhance their products.

• For instance, Rotarex (Brazil, Luxembourg, United Arab Emirates) is launching their innovative products by decreasing the maintenance cycle by 50.0% using cartridge technology.

CHALLENGE:

LACK OF ADOPTION MEDICAL GAS STANDARDIZATIONS AND FLUCTUATIONS IN MEDICAL GAS STANDARDIZATION CRITERIA

Standardization has been accepted as an important element for safety of the patients by APSF (Anesthesia Patient Safety Foundation) and many others. The ISO (International Organization for Standardization) was established on February 1947 in Geneva, Switzerland initially for helping the standardization of industrial development. Later the scope of ISO was expanded to cover many other matters, even anesthesia apparatus. Therefore, people have to adopt these standards in order to avoid such dangerous situations. Thus, the lack of adoption and fluctuations in the medical gas standardization criteria can act as a challenging factor for the growth of the market.

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