Global Medical Gases Industry 2014 to 2020

The global market for medical gases and equipment is expected to reach USD 10.52 billion by 2020, according to a new study by Grand View Research, Inc. The implementation of industry friendly regulations such as the FDA Safety and Innovation Act in the U.S. and growing patient awareness levels are expected to drive market growth over the next six years. Growing global geriatric population base coupled with increasing prevalence of target diseases such as chronic obstructive pulmonary diseases (COPD) is also expected to enhance market demand over the forecast period.

Oxygen dominated the global medical pure gases market in 2013, accounting for over 44% of total revenue. Rising prevalence of patients admitted in emergency care and prevalence of patients suffering from respiratory diseases requiring the administration of oxygen are some of the factors accounting for its large market share. Nitrous oxide followed oxygen in terms of market share, accounting for over 25%. However, its market share is expected to decline by 2020, owing to the rising demand for anesthetic drugs. In addition, the medical gas mixtures market was dominated by oxygen-carbon dioxide medical gas mixtures in 2013, accounting for over 30% of revenue.

The report “Medical Gases Market By Product (Oxygen, Nitrogen, Helium, Laser Gas, Lung Gas, Aerobic, Anaerobic Mixtures, Helium Oxygen Gas Mixtures, Medical Air, Carbon Dioxide-Oxygen, Laser Gas, Lung Gas, Ethylene Oxide), By Equipment (Manifolds, Outlets, Medical Air Compressors, Masks) Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/medical-gases-market

Further key findings from the study suggest:

• North America dominated the overall market in 2013 with revenue estimated at USD 2.48 billion. However, Asia Pacific is expected to be the fastest growing regional market, on account of rapidly developing...