[FURL=https://www.industryarc.com/Report/120/medical-pharmaceutical-gases-equipment-market.html]Medical & Pharmaceutical Gases and Equipment Market[/FURL] size is estimated to be $15.2 billion in 2019, growing at a CAGR of 6.4% during the forecast period 2020-2025. Pharmaceutical and Medical Gases are fluids manufactured specially for the medical, pharmaceutical manufacturing and biotechnology industries. They are frequently used to synthesize, sterilize or insulate process or products which contribute to human health. Moreover, medical gases are manufactured, packaged and intended for administration to a patient in anesthesia, therapy or diagnosis. The gases include oxygen, helium, carbon dioxide, nitrous oxide, medical air and nitrogen which are usually given to the pre operated, intra operated and post operated patients and to the patients in case of Emergency. Increase in the prevalence of cardiovascular diseases, Respiratory issues, cerebral hemorrhages and traumatic brain injuries is a significant factor driving the Medical & Pharmaceutical Gases and Equipment Market in the upcoming years. Key Takeaways
Pure Gases held the major market share in 2019 as it is widely used in the treatment of chronic obstructive pulmonary disease.
Hospitals accounted for the largest market share in 2019 owing to the increasing number of patients treated over there with severe breathing issues.
North America dominated the Medical & Pharmaceutical Gases and Equipment Market owing to the rising geriatric population coupled with increasing incidences of heart diseases.
Technological Advancements in Pharmaceutical Gases is a major factor driving Medical & Pharmaceutical Gases and Equipment Market during the forecast period 2020-2025.
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Medical & Pharmaceutical Gases and Equipment Market Segment Analysis - Geography
North America dominated the Medical & Pharmaceutical Gases and Equipment Market with a region share of 37% in 2019 followed by Europe and APAC. Rising geriatric population along with the increase in the number of people suffering from chronic illness, increasing health concern among people and a better healthcare structure is a major factor propelling its market growth. Moreover, according to the Centers for Disease Control and Prevention about 647,000 Americans die from heart disease each year-that is 1 in every-4 deaths. Furthermore, the presence of major players including Praxair and Airgas is further contributing to its market growth.
Medical & Pharmaceutical Gases and Equipment Market Drivers
Large pool of People Suffering from Chronic Illness
Medical & Pharmaceutical Gases and Equipment Market Industry Outlook : Medical & Pharmaceutical Gases and Equipment Market top 10 companies are Air Liquide, Praxair Inc., Air Gas Inc., The Linde Group, BeaconMedaes LLC, BOD India Ltd, BPR Medical Ltd, Gulf Cyro, INOX Air Products Ltd and Leland Ltd.
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