In terms of geography, Asia is the most promising segment of the market and will be the fastest growing segment during the forecasted period. The Asian medical gases and equipment market is expected to grow at a CAGR of 9.2% from 2012 to 2018. The presence of a large population base and high prevalence of pulmonary diseases (according to W.H.O: 90% of the deaths caused by COPD occur in low and middle income countries like India) and emergency medical conditions equip countries like India and China with a multitude of untapped opportunities. Recent economic development and government initiatives to strengthen their respective healthcare infrastructures have resulted in a rise in disposable incomes and awareness levels of consumers. Manufacturers like Taiyo Nippon Sanso Shenwei Medical Gas Co Ltd and Linde Group (BOC Gases) have realized the potential of these emerging countries and so have invested in them to strengthen their revenue generation streams.
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The medical equipment segment comprises regulators, masks, manifolds, alarm systems, outlets, cylinders and accessories, flowmeters, vacuum systems, medical air compressors, and hose assemblies and accessories.
Geographically, the global medical gases and equipment market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia is by far the largest market for medical gases and equipment and during the course of the forecast period, this region is anticipated to register a CAGR of 9.20%. Rising incidence of pulmonary diseases, larger population base, and increase in emergency medical conditions especially in countries such as India and China have contributed towards the growth of the Asia medical gases and equipment market. The Indian market in particular is also driven by a developing economy, support from government schemes, improvement in healthcare and medical infrastructure, rise in disposable income, larger labor force, and rising awareness levels of consumers. The Indian Gas Association has stated that the industrial and medical gases market grows at an annual rate of 15.0% to 18.0%.
The most promising players operating in the global medical gases and equipment market include Beaconmedaes Llc, Linde Group, Matheson Tri-Gas Inc., Air Liquide, Praxair Inc., Air Products And Chemicals Inc., Medical Gas Solutions, and Airgas Inc.
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