The Medical & Pharmaceutical Gases & Equipment Market deals with the development medical gas equipment and pharmaceutical equipment. A Medical Gas or Pharmaceutical Gas is basically used for treatment or prevention, medical purposes, drug processing and research in biotechnology.
Commonly used gases are like oxygen, ammonia, hydrogen, nitrous oxide, nitrogen, carbon dioxide and some others. The equipment like medical gas cylinder and masks are used to store and deliver. The recovery of the patients depends on the purity of the gases, hence medical gases need to be manufactured according to certain specified standards. The Medical & Pharmaceutical Gases & Equipment Market holds high growth due to increasing population and advancements in pharmaceutical industry.
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Scope & Regional Forecast of the Medical & Pharmaceutical Gases & Equipment Market
Increasing demand for medical equipment is the major key growth factor of the Medical & Pharmaceutical Gases & Equipment Market. Increasing incidences of chronic respiratory diseases, better implementation of friendly regulations like FDA safety and Innovation ACT and rising developments in R & D field of biotechnology.
Shortage of helium, due to the shutdown of the Federal Helium Reserve, is the major restraint factor. Rising government initiatives to increase the availability of medical devices in emergency care in most of the regions, expected to drive high growth for the medical gases and equipment market during the forecast period.
Asia-Pacific is leading the Medical & Pharmaceutical Gases & Equipment Market, due to increase in emergency medical conditions especially in major economies like India and China. Also, this region is projected to have the highest growth till the end of the forecast period. North America is leading with the next position by the advancements taken in medical technology, followed by Europe.
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Segmentations & Key Players Involved in the Medical & Pharmaceutical Gases & Equipment Market
According to IndustryARC findings, the Medical & Pharmaceutical Gases & Equipment Market can be broken down into various segmentations on the basis of –
Application: Laboratory Gases, Therapeutic Gases and Anesthetic Gases.
Physical Nature: Permanent Gases and Liquefiable Gases.
Composition: Pure Gases and Mixtures.
Medical Gases Equipment Market By Type of Component: Cylinders, Flow Meters, Regulators, Medical Air Compressors, Manifolds, Outlets, Hose Assemblies and Accessories, Vacuum Systems, Masks and Alarm Systems.
Medical Gases Equipment Market By Risk Level of Cylinder Contents: Group 1 – Flammable, Group 2 – Oxidizing, Group 3 - Toxic or Corrosive and Group 4 – Others.
Region: North America, Europe, APAC and RoW.
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Some of the key players involved in the Medical & Pharmaceutical Gases & Equipment Market according to IndustryARC are as follows:
Air Liquide
Air Products and Chemicals, Inc.
INOX Air Products Ltd
HAC Technical Gases Ltd
Scales Industrial Technologies