Any gaseous substance that meets medical purity standards and has application in a medical environment are called medical gases. Medical gases used for human healthcare are controlled by both legislation and industrial standards. Medical gases are used in gene therapy, analysis of leaks in fluid handling equipment, cryogenic process, research laboratory, pharmaceutical industry etc. Medical gases are extremely pure with 99.995 percent standard of purity and are provided by licensed manufacturer which provides gases which meet to the standards set by jurisdiction’s prescription drug regulating agency. The prominent players in the medical gases market are partnership or collaboration to reach masses and expand the global medical gases market.
Increasing incidence of chronic respiratory diseases, increasing number of hospitalizations, rising demand for home healthcare, increasing point of care diagnostics, growing geriatric population are the factors driving the growth of global medical gases market. Stringent government rule and regulation and medical gas calibration standards are the factors restraining the growth of global medical gases market.
The global medical gases market is segmented into, product, equipment, end user and region. On the basis of region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America currently dominates the global medical gases market due to increasing incidence of respiratory disorders such as asthma, respiratory allergies, occupational lung diseases etc.
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According to the Centers for Disease Control and Prevention (CDC) 2017, 1 in 13 people have asthma in US and nearly about 25 million Americans are suffering from asthma. Asia Pacific medical gases market is the emerging market for medical gases due to rising healthcare expenditures, growth in the aging population, and growth in per capita income.
Prominent players in global medical gases market are, Taiyo Nippon Sanso Corp., Praxair, Inc., Atlas Copco AB, Air Products and Chemicals, Inc., The Linde Group, SOL-SpA, Airgas, Inc., Air Liquide, Messer Group, and GCE Holding AB.