How is Prevalence of Various Diseases Driving Medical Gases and Equipment Market?

The prevalence of chronic, lifestyle-associated, and respiratory diseases is on the rise across the world. For example, as per the Centers for Disease Control and Prevention (CDC), about 117 million people in the U.S. were suffering from at least one chronic disease in 2012. Similarly, according to the World Health Organization, nearly 250,000 people die of asthma every year around the world. In order to treat these diseases, several medical gases and devices are required. Hence, as the prevalence of various diseases increases, the demand for all types of medical devices will also grow. Medical gases and equipment are important elements in medical centers, life sciences sector, laboratories, and long-term care; they are used for treatment as well as diagnosis of several diseases.

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According to a study conducted by the P&S Intelligence, the global medical gases and equipment market is expected to attain a value of $21.6 billion, advancing at a CAGR of 8.0%, in the coming years. The primary applications of medical gases and equipment include diagnostics, pharmaceutical manufacturing & research, and therapeutics. During 2012-2015, the largest demand for medical gases and equipment was created by therapeutic applications. Medical gases are used for various therapeutic purposes including treatment of cardiovascular and respiratory diseases, acute hypoxia, pain, resuscitation, and pulmonary arterial hypertension, cryosurgery, in neurobiology, and for anesthetization. The demand for medical gases and equipment will remain the highest for therapeutic applications in the near future due to the surging prevalence of chronic and respiratory diseases.

Different end users of medical gases and equipment include pharmaceutical industry, hospital, academic & research institute, emergency service, and home healthcare. The highest demand for these gases and devices was created by hospitals during 2012-2015.

The fastest growth in demand is projected to be witnessed by home healthcare. The need for home healthcare is rising due to the growing geriatric population. Because of home healthcare, older patients are provided with better-quality life in their homes, continuous monitoring for greater efficacy, limited duration of hospitalization, and more effective treatment. The development of technologies, such as infusion system, external insulin pump systems, and respiratory assistance solutions, has been made possible due to advancements in remote medical assistance, pharmacology, and home automation. These factors are then expected to drive the demand for medical gases and equipment for home healthcare settings.

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Global Medical Gases and Equipment Market Segmentation
By Type
o Medical Gas
o Pure medical gas
? Oxygen medical gas
? Nitrous oxide medical gas
? Medical air medical gas
? Nitrogen medical gas
? Carbon dioxide medial gas
? Helium medical gas
o Medical gas mixture
? Blood gas mixture
? Lung diffusion mixture
? Nitrous oxide-oxygen mixture
? Carbon dioxide-oxygen mixture
? Laser gas mixture
? Aerobic mixture
? Anaerobic mixture
? Helium oxygen mixture
? Ethylene oxide mixture
o Medical Gas Equipment
o Medical gas equipment accessories
? Vacuum system
? Manifolds
? Alarm system
? Flow meters
? Hose
? Mask
? Regulators
? Outlets
o Medical oxygen concentrator
o Medical gas delivery system
By Application
o Therapeutic
o Diagnostic
o Pharmaceutical manufacturing & research
o Others
By End User
o Hospital
o Home Healthcare
o Emergency Service
o Pharmaceutical Industry
o Academic & Research Institute

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.