Medical & Pharmaceutical Gases and Equipment Market to Grow at a CAGR of 6.4% During the Forecast Period 2020-2025

Medical & Pharmaceutical Gases and Equipment Market size is estimated to be $15.2 billion in 2019, growing at a CAGR of 6.4% during the forecast period 2020-2025. 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. Increase in the prevalence of cardiovascular diseases, Respiratory issues, cerebral hemorrhages and traumatic brain injuries is a significant factor driving the Medical & Pharmaceutical Gases and Equipment Market in the upcoming years. Moreover, according to the National Heart, Lung and Blood Institute Atherosclerotic Risk in Communities (ARIC) study and Cardiovascular Health Study (CHS) there are 1,260,000 new and recurrent coronary attacks per year- about 37% people experience coronary attack in a given year die from it.

Medical & Pharmaceutical Gases and Equipment Market Segment Analysis – By Composition

By Composition, the Medical & Pharmaceutical Gases and Equipment Market is segmented into Pure Gases and Mixtures. Pure Gases held the major market share in 2019 as it is widely used in the treatment of chronic obstructive pulmonary disease. Oxygen is usually supplied in gas cylinders from which the administration to the patients is done by using a facial mask which can hold about 60% of oxygen or through tight fitting anesthetic type mask that can hold up to 100% oxygen. Moreover, according to the Pharma Review, 20-40% oxygen is usually used in the treatment of C.O.P.D. and 40%-60% is used in case of bronchial asthma and 100% oxygen is used in the treatment of severe hypoxia and noxious gas poising which is eventually driving this segment growth. In addition, “hyperbaric oxygen therapy” is the administration of 100% oxygen at 1atm pressure for cases including myocardial infarction, cluster headache, stroke and cancer. Also, mixtures segment is projected to witness growth at fastest CAGR of 6.8% in forecast period 2020-2025. Moreover, Ethonox is a ready-to-use medical gas mixture consisting of 50% nitrous oxide and 50% oxygen for use in all situation where analgesia and sedation with rapid onset and offset is sought.

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Medical & Pharmaceutical Gases and Equipment Market Segment Analysis – By End-User

Hospitals accounted for the largest market share in 2019 owing 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 Medical & Pharmaceutical Gases and Equipment market during the forecast period 2020-2025. Furthermore, the growth of this segment is majorly due to the increasing number of people suffering from chronic disorders.

Medical & Pharmaceutical Gases and Equipment Market Segment Analysis – Geography

North America dominated the Medical & Pharmaceutical Gases and Equipment Market with a region share of 37% in 2019 followed by Europe and APAC. 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 is a major factor propelling its market growth. 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.

Medical & Pharmaceutical Gases and Equipment Market Drivers

Large pool of People Suffering from Chronic Illness

Large pool of people suffering from chronic illness leading to diabetes, heart failure and respiratory problems is a major factor driving the Medical & Pharmaceutical Gases and Equipment Market during the forecast period 2020-2025. Moreover, the gases used in anesthesia and intensive care are oxygen, nitrous oxide, medical air entonox, carbon dioxide and heliox. In addition, oxygen is the most widely used gases for life-support and respiratory therapy besides anesthetic procedures. Furthermore, according to the World Health Organization about 422 million people worldwide have diabetes particularly in low and middle-income countries and 1.6 million deaths are directly attributed to diabetes each year.

Technological Advancement in Pharmaceutical Gases

Technological Advancements in Pharmaceutical Gases is a major factor driving Medical & Pharmaceutical Gases and Equipment Market during the forecast period 2020-2025. Therapeutic medical gas is a pharmaceutical medical gas molecule which offers solution to medical needs. In addition, recent basic and clinical research have revealed that therapeutic gases are an important physiological regulatory factor with antioxidant, anti-inflammatory and anti-apoptotic protective effects on cells and organs. A therapeutic gas has been applied by different delivery methods including straight forward inhalation, drinking hydrogen dissolved in water and injection with hydrogen saturated saline. These gases are relatively small molecules as compared with classic drugs which gives benefits towards permeability of blood brain barrier.

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Medical & Pharmaceutical Gases and Equipment Market Challenges

Side-Effects of Carbon Monoxide

Side-effects of carbon monoxide serves as a major setback for the growth of the Medical & Pharmaceutical Gases and Equipment Market during the forecast period 2020-2025. Moreover, carbon monoxide is harmful when consumed in large quantities as it displaces oxygen in the blood and deprives the heart and other vital organs of oxygen. Besides this, tightness across the chest, initial symptoms of CO poisoning include headache, fatigue, dizziness, drowsiness or nausea which hampers the market growth in the future.

Medical & Pharmaceutical Gases and Equipment Market Industry Outlook

Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Medical & Pharmaceutical Gases and Equipment Market. Medical & Pharmaceutical Gases and Equipment Market top 10 companies are Air Liquide, Praxair Inc., Air Gas Inc., The Linde Group, BeaconMedaes LLC, BOD India Ltd, BPR Medical Ltd, Gulf Cyro, INOX Air Products Ltd and Leland Ltd.

Developments:

March 2017: Airgas, an Air Liquide Company announced that it has reinforced its position in the healthcare and life sciences market by creating a dedicated brand “Airgas Healthcare”. This brand is the result of the integration of healthcare and life sciences activity of Air Gas and Air Liquide Healthcare in the U.S. as it combines the expertise and innovation from Air Liquide Healthcare with Airgas extended supply chain and strong local customer proximity to deliver unmatched value to healthcare and life sciences customers.

Key Takeaways

Pure Gases held the major market share in 2019 as it is widely used in the treatment of chronic obstructive pulmonary disease.

Hospitals accounted for the largest market share in 2019 owing to the increasing number of patients treated over there with severe breathing issues.

North America dominated the Medical & Pharmaceutical Gases and Equipment Market owing to the rising geriatric population coupled with increasing incidences of heart diseases.

Technological Advancements in Pharmaceutical Gases is a major factor driving Medical & Pharmaceutical Gases and Equipment Market during the forecast period 2020-2025.

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Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677

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