September 06, 2022 06:30 ET | Source: Market Study Report Market Study Report
Pune, India, Sept. 06, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global medical gas equipment market accounted for USD 3,742.9 million in 2021 and is anticipated to value nearly USD 5,751 million by the end of 2028, while progressing at a 6.3% CAGR over the study timeline.
The document also highlights the key driving forces, challenges, and opportunities in order to have a brief understanding of the nature of business in the ensuing years. It also mentions an in-depth analysis of the product categories, gross margin, business overview, and latest developments of the key industry players to assist stakeholders in making informed decisions.
The various drivers contributing to market growth are an increase in healthcare expenditure from private and public authorities, rising infrastructure activities, and growing manufacturing demand for medical gas globally.
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Infrastructure development creates a substantial need for efficient movement of medical gases around the facility because they are a crucial component of treatment and diagnosis in contemporary healthcare facilities. As a result, the medical gas equipment market size is projected to surge over 2022-2028.
The demand for medical gases is anticipated to rise on account of the rising geriatric population which is seen to be more sensitive to numerous respiratory illnesses that need quick medical attention.
Age-related diseases increase the risk factor which eventually boosts the market share for medical gas equipment. In addition, lifestyle practices like smoking and lack of exercise are some of the main reasons boosting the incidence rates of respiratory ailments.
In order to maintain a controlled and secure delivery of various medicinal gases throughout the institution, medical gas equipment is placed in healthcare settings. Helium, oxygen, carbon dioxide, nitrous oxide, and nitrogen are just a few examples of medical gases that are used in therapeutic and diagnostic operations.
According to Press Information Bureau Delhi report, the installation of 162 specialized PSA medical oxygen generation plants in public health facilities received USD 2,010 million in January 2021 through PM Care Fund Trust. Government support like these helped fuel demand, which in turn helped the medical gas equipment market flourish.
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Worldwide medical gas equipment business sphere is segmented on the basis of type, application scope, and regional landscape. By type, the market is divided into masks, manifolds, medical air compressors, and others. In terms of application scope, this marketplace is bifurcated into clinics, hospitals, and others.
The regional analysis of global medical gas equipment industry vertical spans the Americas, Europe, Asia Pacific, and Middle East & Africa. Americas is anticipated to amass healthy gains during the study timeframe due to rising infrastructure activities, and growing manufacturing demand for medical gas.
Similarly, as for the Europe market, Germany is expected to witness considerable growth across the forecast duration owing to increasing medical healthcare expenditures and rising government initiatives.
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Global Medical Gas Equipment Market by Product Type (Revenue, USD million, 2017-2028)
Global Medical Gas Equipment Market by Application Scope (Revenue, USD million, 2017-2028)
Global Medical Gas Equipment Market by Regional Landscape (Revenue, USD million, 2017-2028)
Global Medical Gas Equipment Market by Competitive Analysis (Revenue, USD million, 2017-2028)
1.5 Research Process and Data Source
2.2 Medical Gas Equipment Segment by Type
2.3 Medical Gas Equipment Sales by Type
2.4 Medical Gas Equipment Segment by Application
2.5 Medical Gas Equipment Sales by Application
3 Global Medical Gas Equipment by Company
3.1 Global Medical Gas Equipment Breakdown Data by Company
3.2 Global Medical Gas Equipment Annual Revenue by Company (2020-2022)
3.3 Global Medical Gas Equipment Sale Price by Company
3.4 Key Manufacturers Medical Gas Equipment Producing Area Distribution, Sales Area, Product Type
3.6 New Products and Potential Entrants
4 World Historic Review for Medical Gas Equipment by Geographic Region
4.1 World Historic Medical Gas Equipment Market Size by Geographic Region (2017-2022)
4.2 World Historic Medical Gas Equipment Market Size by Country/Region (2017-2022)
4.3 Americas Medical Gas Equipment Sales Growth
4.4 APAC Medical Gas Equipment Sales Growth
4.5 Europe Medical Gas Equipment Sales Growth
5.1 Americas Medical Gas Equipment Sales by Country
5.1.1 Americas Medical Gas Equipment Sales by Country (2017-2022)
5.1.2 Americas Medical Gas Equipment Revenue by Country (2017-2022)
5.2 Americas Medical Gas Equipment Sales by Type
5.3 Americas Medical Gas Equipment Sales by Application
6.1 APAC Medical Gas Equipment Sales by Region
6.1.1 APAC Medical Gas Equipment Sales by Region (2017-2022)
6.1.2 APAC Medical Gas Equipment Revenue by Region (2017-2022)
6.2 APAC Medical Gas Equipment Sales by Type
6.3 APAC Medical Gas Equipment Sales by Application
7.1 Europe Medical Gas Equipment by Country
7.1.1 Europe Medical Gas Equipment Sales by Country (2017-2022)
7.1.2 Europe Medical Gas Equipment Revenue by Country (2017-2022)
7.2 Europe Medical Gas Equipment Sales by Type
7.3 Europe Medical Gas Equipment Sales by Application
8.1 Middle East & Africa Medical Gas Equipment by Country
8.1.1 Middle East & Africa Medical Gas Equipment Sales by Country (2017-2022)
8.1.2 Middle East & Africa Medical Gas Equipment Revenue by Country (2017-2022)
8.2 Middle East & Africa Medical Gas Equipment Sales by Type
8.3 Middle East & Africa Medical Gas Equipment Sales by Application
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
10.2 Manufacturing Cost Structure Analysis of Medical Gas Equipment
10.3 Manufacturing Process Analysis of Medical Gas Equipment
10.4 Industry Chain Structure of Medical Gas Equipment
12 World Forecast Review for Medical Gas Equipment by Geographic Region
12.1 Global Medical Gas Equipment Market Size Forecast by Region
12.1.1 Global Medical Gas Equipment Forecast by Region (2023-2028)
12.1.2 Global Medical Gas Equipment Annual Revenue Forecast by Region (2023-2028)
12.5 Middle East & Africa Forecast by Country
Global Medical Gas Market Size study and Regional Forecasts 2021-2027
Global Medical Gas Market to reach USD 19.36 billion by 2027.Global Medical Gas Market is valued approximately at USD 10.59 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 9% over the forecast period 2021-2027. Medical Gas is packaged, manufactured, and supplied to a patient for therapeutic, anesthetic, or diagnostic purposes. The global Medical Gas market is driven by rising healthcare expenditure in developed countries such as U.S. and U.K. For instance, according to Statista, total healthcare expenditure in the United Kingdom has increased from USD 280.52 billion in 2017 to USD 311.35 billion in 2019. Also, U.S. national health expenditure as percentage of GDP is projected to reach from 18.2% in 2021 to 19.7% by 2028. About US:
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