According to FutureWise analysis the market for medical gas and equipment in 2023 is US$ 15.42 billion, and is expected to reach US$ 28.16 billion by 2031 at a CAGR of 7.82%.
Medical gases are specialised gases that are utilised in medical procedures, drug processing, and biotechnology research. A medical gas might be a single pure gas or a combination of gases. Oxygen, ammonia, hydrogen, nitrous oxide, nitrogen, and carbon dioxide are the most frequent gases used. Gas is stored and transported using cylinders and masks, among other things. The medical gases and equipment market has great growth potential due to the expanding older population and advances in the pharmaceutical industry. The purity of the gases plays a significant part in the patient's recovery, and there is also the possibility of infection from medicinal gases. As a result, medical gases must be manufactured in accordance with precise specifications. The rising prevalence of chronic respiratory diseases, the implementation of industry-friendly regulations (such as the FDA Safety and Innovation Act), and increased biotechnology research are the key factors that will propel the global medical gases and equipment market forward during the forecast period. Furthermore, government initiatives to expand the provision of emergency treatment in poor countries would have a significant impact on the medical gases and equipment market. The cancellation of the Federal Helium Reserve has resulted in a global helium scarcity, which is restricting market growth. The Helium Privatization Act would see the Federal Helium Reserve in America shut down and the resources transferred to the private sector.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Medical Gas and Equipment Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Medical Gas and Equipment Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.