Medical & Pharmaceutical Gases and Equipment Market Forecasts to 2028 – Global Analysis By Application (Therapeutic Gases, Laboratory Gases, Anesthetic Gases), End User (Home Healthcare, Hospitals), and By Geography
According to Stratistics MRC, the Global Medical & Pharmaceutical Gases and Equipment Market is accounted for $16.49 billion in 2020 and is expected to reach $31.67 billion by 2028 growing at a CAGR of 8.5% during the forecast period. Factors such as increase in the prevalence of cardiovascular diseases, respiratory issues, cerebral hemorrhages and traumatic brain injuries, large pool of people suffering from chronic illness, and technological advancement in pharmaceutical gases are driving the market growth. However, side-effects of carbon monoxide are hampering the growth of the market.
Pharmaceutical and Medical Gases are fluids manufactured specially for the medical, pharmaceutical manufacturing and biotechnology industries. They are frequently used to synthesize, sterilize or insulate process or products which contribute to human health. Moreover, medical gases are manufactured, packaged and intended for administration to a patient in anesthesia, therapy or diagnosis. The gases include oxygen, helium, carbon dioxide, nitrous oxide, medical air and nitrogen which are usually given to the pre operated, intra operated and post operated patients and to the patients in case of Emergency.
Based on the end user, hospitals segment is anticipated to have lucrative growth during the forecast period, due to the increasing number of patients treated over there with severe breathing issues. Moreover, departments that use medical devices in hospitals include operating rooms, pre-communicators, recovery rooms, debridement rooms, obstetrics and gynecology wards, ICU wards and general awards. In addition, technological advancement in medical & pharmaceutical gases and equipment which are faster, more reliable, and more widely available are further propelling the hospitals segment. Furthermore, the growth of this segment is majorly due to the increasing number of people suffering from chronic disorders.
By geography, North America is expected to have significant growth during the forecast period, owing to rising geriatric population along with the increase in the number of people suffering from chronic illness, increasing health concern among people and a better healthcare structure. Moreover, according to the Centers for Disease Control and Prevention about 647,000 Americans die from heart disease each year-that is 1 in every-4 deaths. Furthermore, the presence of major players including Praxair and Airgas is further contributing to its market growth in this region.
Some of the key players profiled in the Medical & Pharmaceutical Gases and Equipment Market include Boc India Limited, Leland Limited, BPR Medical Ltd, Air Products and Chemicals, Inc., Gulf Cyro, Praxair Inc., Air Liquide, Air Gas Inc., Linde Group, BOD India Ltd, BeaconMedaes LLC, and INOX Air Products Private Limited.
Estimated Market Size in 2020:
USD 16.49 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 31.67 billion
Tables, Graphs & Figures
Composition, Risk Level of Cylinder Content, Physical Nature, Component Type, Application, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Pure Gases
Risk Level of Cylinder Contents Covered:
• Toxic or Corrosive
Physical Natures Covered:
• Liquefiable Gases
• Permanent Gases
Component Types Covered:
• Flow Meters
• Medical Air Compressors
• Vacuum System
• Hose Assemblies and Accessories
• Alarm System
• Therapeutic Gases
• Laboratory Gases
• Anesthetic Gases
End Users Covered:
• Home Healthcare
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Medical & Pharmaceutical Gases and Equipment Market is majorly driven by large pool of people suffering from chronic illness, rising incidence of preterm births, and technological advancement in pharmaceutical gases.
The hospitals segment is growing at a highest CAGR owing to rising number of patients treated over there with severe breathing issues, technological advancement in medical & pharmaceutical gases and equipment which are faster, more reliable, more widely available, and growing number of people suffering from chronic disorders.
North America dominated with a significant market share due to growing geriatric population along with the increase in the number of people suffering from chronic illness, rising health concern among people and a better healthcare structure.
Asia Pacific market is growing at a highest CAGR owing to the rapid growth in the developing healthcare industry across China and India, growing incidence of respiratory diseases, and growth in the healthcare infrastructure and the per capita income in this region.
Key players profiled in the Medical & Pharmaceutical Gases and Equipment Market include Boc India Limited, Leland Limited, BPR Medical Ltd, Air Products and Chemicals, Inc., Gulf Cyro, Praxair Inc., Air Liquide, Air Gas Inc., Linde Group, BOD India Ltd, BeaconMedaes LLC, and INOX Air Products Private Limited.
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