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The medical gas equipment market share is expected to increase by USD 3.79 billion from 2020 to 2025, at a CAGR of 10.82%.
This medical gas equipment market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers medical gas equipment market segmentation by end-user (hospitals and clinics, home healthcare, pharmaceutical and biotechnology companies, and academic and research institutions) and geography (North America, Europe, APAC, and ROW). The medical gas equipment market report also offers information on several market vendors, including Air Products and Chemicals Inc., Allied Healthcare Products Inc., Amico Group of Companies, Atlas Copco AB, GCE Holding AB, LAIR LIQUIDE SA, Linde Plc, Messer Group GmbH, SOL Spa, and Taiyo Nippon Sanso Corp. among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing pocd and home healthcare markets is notably driving the medical gas equipment market growth, although factors such as may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the medical gas equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Medical Gas Equipment Market Driver
The growing POCD and home healthcare markets is a major driving factor for the global medical gas equipment market share growth. Point-of-care diagnostics (POCD) and home healthcare are two closely associated markets for medical gas equipment, as breathing devices and breathalyzers are used extensively in POCD and home healthcare. The increasing prevalence of respiratory infections drives the demand for POCD, as these infections increase the risk of disease transmission when the patient visits a healthcare facility. In developed countries, the cost burden of diseases such as sexually transmitted diseases (STDs) and respiratory infections is increasing. Hence, the demand for POCD is also growing, as it helps diagnose diseases faster than conventional methods. Moreover, lower cost and improved convenience of healthcare drive the growth of the market. Respiratory conditions such as asthma and COPD are some of the leading causes of immobilization among patients, which drives the demand for home healthcare. The home healthcare market is expected to grow at the fastest rate in the healthcare products and services market during the forecast period. Therefore, the high adoption rate of respiratory devices in POCD and home healthcare will increase the demand for medical gas equipment during the forecast period.
Key Medical Gas Equipment Market Trend
The increasing product innovations will fuel the global medical gas equipment market growth. End-users in the global medical gas equipment market require customizable solutions for different applications. Hence, vendors have developed innovative products that can be customized. Customization without compromising product quality is a popular strategy followed by vendors. Currently, Air Liquide has over 175 active patented innovations. The company is increasing its efforts to ensure that these patents can be used to improve its existing products. Miniaturization is also another major trend in the market. Medical gas vendors have realized the significance of integrating the cylinder valve and the pressure regulator into a single device with all necessary control functions being combined. This makes the delivery of gases easier and faster, especially for medical gas therapy. Key executives of leading companies believe that the trend of miniaturization will gain popularity in the future. Such factors will drive the growth of the market in focus during the forecast period.
Key Medical Gas Equipment Market Challenge
The declining reimbursements for respiratory therapies are a major challenge for the global medical gas equipment market growth. Globally, the prevalence of asthma, respiratory allergies, and COPD is increasing. However, reimbursements for treatments are reducing. Hence, patients are beginning to explore other options, and the cost is also high. Moreover, many programs struggle to stay in operation due to the low reimbursement from the Centers for Medicare and Medicaid Service (CMS). Limited reimbursements also discourage the development of new therapies. The CMS system reduces reimbursements for respiratory care. The home healthcare market is also affected by the implementation of the CMS system. Home respiratory therapy providers continue to face reductions in reimbursements. However, as per the formal policies that have not been revised to provide adequate reimbursement to patients undergoing respiratory therapy, the cost is being incurred by patients. . Hence, vendors in the home healthcare market are unable to sell their respiratory products. The non-coverage of respiratory conditions is likely to affect the growth of the global medical gas equipment market during the forecast period.
This medical gas equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global medical gas equipment market as part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the medical gas equipment market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the medical gas equipment market encompasses successful business strategies deployed by the key vendors. The medical gas equipment market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The medical gas equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the medical gas equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global healthcare equipment market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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