Medical Gas Equipment Market - Industry Outlook, Size, Application, Product, Share, Growth Prospects, Key Opportunities, Trends and Forecast to 2020

Global medical gas equipment market (http://www.grandviewresearch.com/industry-analysis/medical-gas-equipment-market) is expected to reach USD 5,313.9 million by 2020, according to a new study by Grand View Research, Inc. Growing prevalence of chronic respiratory diseases such as pulmonary disorders, cystic fibrosis and emphysema coupled with increasing geriatric population base is expected to drive medical gas equipment market demand. Introduction of technologically advanced product such as new integrated multifunctional and convenient medical gas cylinders is also expected to drive market demand by catering to the changing requirements of healthcare practitioners.

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Further key findings from the study suggest:

• Global medical gas masks market is expected to grow at the highest CAGR of 9.7% during the forecast period, owing to increasing usage rate by patients for medical gas administration. Cylinders are also expected to grow at a CAGR of over 8.0% during the forecast period due to increasing demand for portable and lightweight cylinders with audible and visible alert mechanisms.

• North America was the largest regional medical gas equipment market, in terms of revenue in 2013, owing to the presence of industry friendly organizations such as Compressed Gas Association (CGA) and the Gases and Welding Distributors Association (GAWDA) and sophisticated healthcare infrastructure. Rising prevalence of lifestyle habits such as growing number of global smokers, rising incidences of obesity and dietary irregularities are responsible for the growth of respiratory disease in this region.

• Asia Pacific is expected to be the most attractive regional market over the forecast period, growing at an estimated CAGR of over 9% from 2014 to 2020. Growing demand for home healthcare and point of care based treatments especially for respiratory disorders and improving healthcare...