Medical Gas Market: Overview
The growth of medical gas market stems from a number of factors, including rising incidence of chronic diseases, growing geriatric population, and increasing demand for home healthcare and point of care products, and these factors are expected to continue to influence the said market over the 2020- 2030 forecast period.
Key parameters based on which medical gas market is divided are product, application, and region.
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Medical Gas Market: Competitive Landscape
The medical gas market is highly fragmented with a large number of local and a few large global players. New product launch, strategic alliances, and partnerships are key growth strategies adopted by leading players in the medical gas market.
Prominent players in the medical gas market include The Linde Group, Beacon Medaes, Air Products and Chemicals, Air Liquide, Airgas Inc., Medical Gas Solutions Ltd, Praxair Inc., and Matheson Tri-Gas among others.
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Medical Gas Market: Key Trends
Majorly fuelling the medical gas market is initiatives undertaken by government medical departments for expansion of healthcare services for public health. World over, government medical departments are planning, devising programs to render healthcare to all age groups, which are either covered under national healthcare programs or are available at nominal charges. Such services include point of care and home care products for the disabled and elderly.
Reforms in government policies and introduction of new bills by government that support home care and point of care is further fueling the medical gas market. For example, in July 2012, the U.S. congress passed a bill for the implementation of U.S FDA safety and innovation act.
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Medical Gas Market: Regional Assessment
Led by demand in the U.S., North America is the leading region in the medical gas market. Key factors fuelling growth in the region are high incidence of chronic diseases and growing geriatric population.
Europe closely follows North America in terms of market share in the medical gas market.
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