June 08, 2020
As per the report titled ‘Medical Gas Equipment Market Size By Product, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global medical gas equipment market is expected to record substantial growth over the forecast period of 2020-2026.
Many hospitals as well as health care establishments utilize medical gas equipment to supply specialized gas as well as gas mixtures across the facility. The medical gas equipment market is projected to register significant traction on account of growing prevalence of respiratory diseases.
To ensure smooth functioning of hospitals as well healthcare facilities, medical gases are of utmost importance. Medical gas is uncontaminated, odorless, has no oil, and is dry, to restrict building up of moisture in medical systems.
Medical air devices such as air compressors help doctors in keeping patients comfortable and breathing during operations.
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The medical gas equipment market is segmented on the grounds of product, end-user, and geography.
Based on the product landscape, the market is further classified into outlets, masks, alarm systems, hose assemblies, valves, flowmeters, manifolds, cylinders, medical air compressors, regulators, and vacuum systems. Significant growth is anticipated over the forthcoming years in the outlets product segment, cites the research report.
Development of advance medical gas equipment to maintain constant supply of essential clinical air will be the driving force for this segment. A 360° swivel inlet constructed using extremely durable vitron material will be featured by the next generation medical gas outlets.
Based on end-use, the market is fragmented into ambulatory surgical centers, clinics, hospitals, and others. The clinics segment is poised to register momentous growth in the approaching years. The report cites that this growth will be a result of the increasing prevalence of respiratory diseases across the globe. Furthermore, benefits like better patient outreach will propel segment size throughout the study period.
From a geographical point of view, the market is classified into Latin America, North America, Asia-Pacific, Europe, and Middle East & Africa. Latin America is projected to witness substantial growth over the coming years as a result of dietary changes and lifestyle modifications, teenagers as well as adult population are exposed to increasing chronic respiratory conditions. Additionally, major players operating in the medical gas equipment market are looking to explore fresh opportunities in the LATAM region which will be a driving force for the market in this region.
Praxair Inc., Air Liquide, Powerex, Allied Healthcare Products Inc., Taiyo Nippon Sanso Corporation (Matheson Tri-Gas Inc.), Atlas Copco Group (BEACONMEDAES), Gentec Corporation, Linde Group, Amico Corporation, and Tenex Capital Management (Ohio Medical) are some of the leading companies operating in the medical gas equipment market.