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Medical Gas Equipment Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Competitive Scenario And Forecasts, 2012 To 2020

826 words - 4 pages

Industry Insights
Implementation of the U.S. FDA (Food and Drug Administration) Safety and Innovation Act in July 2012 eliminates drug user fee for medical gases and equipment is the most important driver of medical gas equipment market. This act will maximize profit margins, help manufacturers to control the costs and register for IPR (intellectual property rights) for novel products. Increasing demand for this equipment is expected to boost market growth by helping manufacturers establish an ancillary market and expand patient bases. In addition, growing geriatric population base and the consequent rise in target diseases prevalence such as respiratory disorders are expected to drive ...view middle of the document...

Medical gas vacuum systems emerged as a market leader in 2013 due to relatively higher prices associated with these products coupled with high market penetration rates are one of the major factors attributing to its large share However, Medical gas masks are mostly used by patients for medical gas administration and it is considered as the most lucrative segment of the medical gas equipment market. Manufacturing costs associated with these products is lesser coupled with high usage rates are the major driving factors attributing to its attractiveness. Medical gas outlets and regulators are also expected to show significant growth over the forecast period. Increasing number of initiatives regarding safety issues have encouraged manufacturers to frequently update their product portfolio and this is expected to drive segment growth during the forecast period.
Regional Insights
North America held the largest market share in terms of revenue at over 42% in 2013 on accounts of high per capita healthcare expenditure, sophisticated healthcare infrastructure and high volume of minimally invasive medical procedures in this region. Some other drivers of medical gas equipment market include the presence of industry friendly initiatives such as organizations such as CGA (Compressed Gas Association) and GAWDA (Gases and Welding Distributors Association) and the implementation of the U.S. FDA Safety and Innovation Act. On the other hand Asia Pacific market is expected to grow at the lucrative CAGR in the coming six years due to patient awareness, the presence of rapidly improving healthcare infrastructure and healthcare expenditure levels in...

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