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The market has evolved significantly due to various technological advancements. The factors which are expected to drive the market growth in the coming years include the increasing prevalence of chronic diseases and the increasing incidence of respiratory diseases. Expansion of the market in the developing nation is also expected to present a wide range of opportunities for the market players.
The oxygen segment is expected to grow at the highest CAGR among pure gases used in the medical gas and equipment market. Due to a large patient base suffering from respiratory diseases and the increasing number of patients undergoing emergency medical care, growth can be seen in this segment. The pure gases stored in high-pressure cylinders are expected to dominate the market in the coming few years. This is due to the increased use of these devices in home healthcare setups and hospitals. This is due to the increase in the elderly population, increase in the number of chronic diseases, and high proportion of untreated patients. The number of people suffering from obesity and related disorders worldwide has increased significantly in the last few years, with changes in lifestyle and eating habits. One of the major factors responsible for the increasing prevalence of chronic disorders, including heart disorders and diabetes, is obesity. Hence there is growth in the medical gases and equipment market in the coming years since medical gases form a critical component of various long-term care treatments. The latest technologically advanced equipment provides a complementary system of monitoring and therapy delivery, coupled with educational content and communication flow between patients and healthcare providers instead of earlier equipments. In addition to the above factors, various associated medical gas equipment is gradually being improved to offer a better quality of care. There is a boon to the growing home healthcare market due to lightweight and portable medical gas handling equipment. Due to the availability of smaller and less expensive equipment in the market, the medical gas equipment market's nature is changing continuously. Several players are focusing on launching advanced products considering the growth opportunities in this market space. As per the law, the expiration dates must be supported by accurate stability studies. The operating costs have increased, and there is pricing pressure on medical gas manufacturers and distributors. Thus, the profit margin of medical gas and equipment manufacturers is expected to be affected adversely.
Key Market Players
The key market players are:
Medical Gases and Equipment Market, By Type
Medical Gases and Equipment Market, By Application
By End User the market is divided as follows:
Medical Gases and Equipment Market, by Region
The report offers a comprehensive insight on the Medical Gases and Equipment Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
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