The medical gas equipment market has huge potential for further growth. This is owing to escalating population of the aged. Consequential augmentation in chronic breathing illnesses and innovations in pharmaceuticals also drive the market. However, periodically altering regulatory concerns with respect to medical gas policies result in high costs. These concerns appear to prevent the medical gas equipment market from growing further.
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Apart from structural drivers the market has, there are some geographic components also which drive it forward. Rising economies are gradually getting more attractive. The region of Asia Pacific is a highly capable medical gas equipment market. Budding nations, like China and India have high CAGR figures and are anticipated to witness imperative market development. This owes to increase in respiratory diseases and augmentation in medical infrastructure and per capita returns.
The medical gas equipment market has witnessed a standard shift in the use of technologically developed and enhanced products. This has led to growth in the market. The market has even witnessed widespread development in the last few years. Worldwide scarcity of helium hinders market growth to a certain extent. The market is fragmented on the basis of applications, products and geographical regions. It is estimated to rise during the predicted phase, at about 7 to 8 percent CAGR.
Growing population and rising chronic diseases also drive the medical gas equipment market. Additionally, boost in health consciousness among people, supported by increased medical investments in developing nations is expected to add revenue to the market. North America leaded the market in 2012. It is expected to remain likewise till 2018. 2013 to 2018 remains the predicted phase. North America occupies share worth 40 – 45 percent in the worldwide medical gas equipment market.
Increasing demand for permanent medical services in the coming years is expected to remain the biggest propeller of the North American market. The medical gas equipment market of Europe follows the former and accounts for around 33 percent of the share.
Information Source: Grand View Research