The global medical gas market is expected to
reach a healthy CAGR of 7.2% in the forecast period of 2019 to 2026. Global
Medical Gas Market By Product (Medical Gases, Medical Gas Equipment),Application
(Pharmaceutical Manufacturing & Research, Diagnostic Applications,
Therapeutic Applications, Others), Method Of Separation (Physical Separators,
Fractional Distillation, Molecular Sieve, Semipermeable Membrane, Others), End
User (Hospitals, Home Healthcare, Pharmaceutical And Biotechnology Companies,
Academic And Research Institutions, Emergency Service Providers, Others),
Geography (North America, Europe, Asia-Pacific, South America, Middle East and
Africa) – Industry Trends and Forecast to 2026
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A medical gas is the gas which is manufactured,
packaged, and planned for administration to a patient in therapy, anaesthesia,
or diagnosis purposes. The medical gases are mainly used in home healthcare,
hospitals, biotechnology & pharmaceutical companies, emergency service providers
and also in academic & research institutions. Medical Air, Carbon Dioxide,
Oxygen, Nitrogen and Nitrous Oxide are the most common used medical gases in
the hospital areas including recovery areas, patient rooms, operating rooms,
and others.
Market Segmentation:
The medical gas market is segmented into four
notable segments such as Product, Application, Method of Separation, End User
and Geography.
- On the basis of product, the market is segmented into medical
gases and medical gas equipment. Medical gases segment is sub-segmented
into Pure Medical Gases and Medical Gas Mixtures.
- On the basis of application, the market is segmented into
pharmaceutical manufacturing & research, diagnostic applications,
therapeutic applications and others.
- On the basis of method of separation, the market is segmented
into physical separators, fractional distillation, molecular sieve,
semipermeable membrane and others.
- On the basis of end user, the market is segmented into
hospitals, home healthcare, pharmaceutical and biotechnology companies,
academic and research institutions, emergency service providers and
others.
Competitive Analysis: Global Medical
Gas Market
Some of the major players operating in this
market are
Air Products and Chemicals, Inc. (U.S.),
Taiyo Nippon Sanso Corporation (Japan),
The Linde Group (Dublin),
SOL-SpA (Italy),
Praxair Technology, Inc. (U.S.),
Air Liquide (France),
Atlas Copco (Sweden),
GCE Holding AB (Sweden),
Messer Group (Germany),
The Southern Gas Limited (India),
Aims Industries Ltd. (India),
Amico Group (U.S.),
GCE Group (Sweden),
Crumpton Welding Supplies & Equipment (U.S.),
Zaburitz Pearl Co., Ltd. (Myanmar),
Ellenbarrie Industrial Gases (India),
Uttam (Pakistan),
SCI Analytical (U.S.),
Rotarex (Brazil, Luxembourg, United Arab
Emirates),
Allied Healthcare Products Inc. (U.S.) and many
others.
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Product Launch:
- In 2016, Linde Gas has launched a new light-weight cylinder
package for medical oxygen. This product will help in continuous oxygen
supply at the hospital and home. This launch will help the company in the
expansion of their business by grasping more customers.
- In 2015, Linde Gas has launched first cylinder filing site at
Siliguri in West Bengal. This will help the company to expand their
business in India and to achieve great milestone in their business.
DRIVERS:
INCREASE IN THE OCCURRENCE OF CHRONIC
DISEASES
According to World Health Organization, the
occurrence rate of chronic diseases is rapidly growing all over the world,
causing more number of deaths. The occurrence rate of chronic diseases is
increasing day by day in the worldwide population. Medical oxygen is given to
the patients suffering from Chronic Obstructive Pulmonary Disease (COPD),
Asthma and Chronic bronchitis.
- According to the WHO reports of 2001, 60.0% of the total
reported deaths of 56.5 million in the world are due to the chronic
diseases and the worldwide burden of disease is around 46.0%.
- About 133 million Americans which is 45.0% of the total
population is suffering from at least one chronic disease.
- Seven out of every 10 deaths is caused due to chronic disease,
in the U.S., which is more than 1.7 million deaths in America yearly
With the increase in the prevalence rate the
treatment and diagnosis needs are also increasing, thus becoming a major driver
for the global medical gas market.
RAPIDLY GROWING GERIATRIC POPULATION
The global population of older people continues
to grow at an unmatched rate. With the growing geriatric across the world is
leading to the increase of age related problems. With the increasing age the functionality
of the lungs are getting weaker and the diaphragm gets weaker which leads to
difficulty in opening the airway thus making the air sacs baggy and the defence
mechanisms of lungs stops because of which older people becomes more
susceptible to pneumonia.
- According to United Nations, in 2017, 25.0% of the European
population was 60 or over. It is estimated that rapid ageing would occur
in other parts of the world too, so by 2050, except for Africa, all other
regions of the world will nearly have a quarter or more of their
populations in the geriatric age group
With the rising geriatric population, prevalence
of diseases and their treatment needs are also increasing which has led to the
rise become a major driver of the medical gas market
RESTRAINT:
INCREASE IN THE PRICE OF MEDICAL GAS
According to a press release Praxair made these
adjustments in response to the “rising costs” and it will support the capital
investment which is required for the continued supply of Praxair’s operations.
- This is the third price increase in the last 12 months for
Praxair. The company announced increase in the price by 10-20% for bulk
gases and facility fees at the beginning of 2016 with a further rise of
15% for bulk industrial gases in July.
- From 1st October (2018), Air Products will also rise their
product pricing, monthly service charges and surcharges for merchant
customers in North America.
- The pricing hike include increase of prices up to 20% for
liquid argon, 25% for liquid and bulk hydrogen, 10% for liquid carbon dioxide,
15% for liquid nitrogen and liquid oxygen and monthly survive charges.
Thus this price hike of the medical gases will
act as a major market retrain for the market.
OPPORTUNITIES:
MARKET GROWTH IN EMERGING NATIONS
The rapid growth of healthcare sectors across
India and China is anticipated to provide significant opportunities for market
players operating in the medical gas market.
- In November 2018, Air Products and Chemicals, Inc. (U.S.) and
Sonatrach (Africa) signed two new agreements for the gas production and
delivery.
- In November 2018, Praxair Technology, Inc. (U.S.) expanded its
nitrogen capacity in South Korea for supporting the rising need for
world-scale semiconductor complex.
TECHNOLOGICAL DEVELOPMENTS
The companies are investing in the research and
development activities for the innovation and invention of new products. Thus,
with this we can see that various companies are adopting or implementing
several new technological developments to enhance their products.
- For instance, Rotarex (Brazil, Luxembourg, United Arab
Emirates) is launching their innovative products by decreasing the
maintenance cycle by 50.0% using cartridge technology.
CHALLENGE:
LACK OF ADOPTION MEDICAL GAS
STANDARDIZATIONS AND FLUCTUATIONS IN MEDICAL GAS STANDARDIZATION CRITERIA
Standardization has been accepted as an important
element for safety of the patients by APSF (Anesthesia Patient Safety
Foundation) and many others. The ISO (International Organization for
Standardization) was established on February 1947 in Geneva, Switzerland
initially for helping the standardization of industrial development. Later the
scope of ISO was expanded to cover many other matters, even anesthesia
apparatus. Therefore, people have to adopt these standards in order to avoid
such dangerous situations. Thus, the lack of adoption and fluctuations in the
medical gas standardization criteria can act as a challenging factor for the
growth of the market.
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