Medical gases include gases used during surgical procedures, medical procedures, sterility purposes and other uses such as coolant. The market has a healthy CAGR and is expected to grow over $16 billion by 2021. The Medical gases market is driven by various factors such as rise in the number of surgical procedures, number of hospitals, point of care health services and other macroeconomic factor such as health expenditure and disposable income. Ageing population and high purchasing power of the elderly population are also some of the major opportunities in the way. The market is highly competitive and fragmented. The number of medical gas suppliers and equipment manufacturers is very high. This shows that the market is open and market barriers are low for new player to enter. However, there are few challenges and restraints too. The government policies are very stringent for the quality and standards and standards of the gas. The price fluctuations and shortage of helium in the market are also major obstruction.
The market is segmented on the basis of type of gases which includes pure and mixture gases. The gases include medical air, Carbon dioxide, oxygen, helium, Nitrous oxide and their mixtures. Oxygen has the highest market share amongst all gases due to high demand in hospitals and clinics. The other segment is by equipment which includes hoses, manifolds, flow meters, regulators and others. Market is also segmented on the basis of users which includes home healthcare, hospitals and clinics, institutes, industry and others. Hospitals have the highest market share amongst end users.
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North America and European markets dominate amongst geographies. These two geographies have approximately 70% market share. Asia Pacific has the highest CAGR. The market is growing at a good pace due to increasing number of hospitals. The highly fragmented market consists of some top players such as are Air Products and Chemicals Inc., Linde group, Air Liquide, Praxair Inc, Taiyo Nippon Sanso Corp., Messer Group, Airgas Inc., Atlas Copco.
1. Air Liquide
2. Airgas Inc
3. Linde group
4. Praxair, Inc
6. Air products and Chemicals Inc
7. Taiyo Nippon Sanso
8. Messer Group GmBH
9. Matheson Tri-Gas
10. Atlas Copco AG
11. Beacon Medaes
12. HAC Technical Gases Inc
13. KH Medical
This Occams Research Report covers
1. Historical data
2. Revenue forecasts, growth rates and CAGR upto 2021
3. Industry Analysis
4. Competitive Analysis
5. Key geographic growth data
6. In-depth profiling of companies
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