Medical Gas and Equipment Manufacturers Investing in Emerging Economies to Strengthen Revenue

Medical gases and equipment find direct or indirect application in the rapidly expanding healthcare industry. Generally, medical gas equipment is the equipment used in manufacturing of medical gases. Medical gases can be administered to patients directly or using medical procedures such as coolants and sterilants.According to a market research firm, the global medical gases and equipment market was valued at US$5.3 billion in 2011 and will reach a estimated value of US$9 billion by 2018. The global medical gases and equipment market will expand at a CAGR of 8% during the forecast period of 2012 to 2018.Growing economic development in the emerging nations of the world is one of the top opportunities for existing players as well as new entrants in the global medical gases and equipment industry.

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Lucrative Opportunities in China, Russia, and India will Drive Global Medical Gases and Equipment Market

China, the fastest growing economy in the world, has a huge population base. This has led to manufacturers such as Taiyo Nippon Sanso Shenwei Medical Gas Corporation (TNSC) Limited making an investment in the country to empower their revenue generation streams. According to this company, investing in China will help them mitigate the risk associated with global recession.

In the Eastern European region, Russia is the fastest growing economy and, like China, has attracted foreign investment in its medical gas sector. For example, the acquisition of Lentechgas by the French company Air Liquide in November 2012 helped the latter gain access to the most profitable northwest regions of Russia.

The medical and industrial gas market in India will demonstrate a growth of 15% to 18% rate annually, says the Indian Gas Association. The presence of a massive labor base and the growth of the country's economy provides the global medical gases and equipment market tremendous growth opportunities in India.

The Asian medical gases and equipment market is expected to display an exceptional growth at a 9.2% CAGR during the forecast period. Factors such as a large population base, and high incidence of pulmonary diseases and other emergency medical conditions in India and China serve up a lucrative market for medical gases and equipment. A report issued by the WHO states that almost 90% of global deaths due to COPD occur in developing nations such as India.

Other geographic segments in the global medical gases and equipment market include North America and Europe. These two regions will show a moderate growth rate during the forecast period. Prominent companies in the global medical gases and equipment market include Air Products and Chemicals Inc., Matheson Tri-Gas Inc., BeaconMedaes LLC, Air Gas Inc., Praxair Inc., and Medical Gas Solutions.

Support from Governments will Further Fuel Global Medical Gases and Equipment Industry

Apart from the opportunity in emerging economies, the global medical gases and equipment market benefits from other market drivers as well. The implementation of the USFDA (United States Food and Drugs Administration) Safety and Innovation Act (July 2012) will drive the global medical gases and equipment market. This act gives the FDA authority to collect user fees from the medical industry to allow fund reviews of generic drugs, innovator drugs, biosimilar biologics, and medical devices. Recent fiscal developments coupled with such government schemes are boosting the medical and healthcare infrastructure and have resulted in a rise in disposable incomes and consumer awareness.

Other market drivers such as the rapidly expanding home healthcare market, increasing aging population and presence of established industry-friendly associations will further fuel the growth of the global medical gases and equipment market.

However, the accelerating instances of theft associated with medical gas cylinders along with the growing shortage of helium will suppress the growth of the global medical gases and equipment market.

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