The Asia Pacific Medical Gas Equipment Market would witness market growth of 8.6% CAGR during the forecast period (2023-2029).
The development of portable oxygen therapies and other cutting-edge homecare treatments is anticipated to be significantly aided by the entry of lightweight, non-limited-life (NLL) composite cylinders. By satisfying their need for a cylinder that is substantially lighter than traditional aluminum cylinders, these devices offer significant advantages to patients in home care settings. Medical gas equipment end consumers need adaptable solutions for various uses. As a result, suppliers have created novel, customizable items.
A common tactic vendors use is customization without sacrificing the quality of the product. Another significant development in the business is miniaturization. Vendors of medical gas have come to understand the importance of combining all necessary control functions from the pressure regulator and cylinder valve into a single device. In particular, for medical gas therapy, this facilitates and expedites the administration of gases. Leading company executives predict the trend toward miniaturization will continue to gain prominence in the future. During the forecast period, these factors will propel the market to grow.
India is going through a rapid health shift as the prevalence of non-communicable diseases (NCD) overtakes that of infectious diseases. An estimated 60% of all fatalities are thought to be caused by non-communicable diseases, including chronic respiratory conditions. Many productive years of life have been lost due to NCDs. Losses from early deaths are also anticipated to rise over time. The government has developed numerous programs aimed at early diagnosis, referral, management, infrastructure improvement, and human resource development to prevent and control NCDs. Increased government funding for their treatment and an increase in non-communicable diseases cases will fuel the market expansion.
The China market dominated the Asia Pacific Medical Gas Equipment Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $308 million by 2029. The Japan market is exhibiting a CAGR of 7.9% during (2023 - 2029). Additionally, The India market would showcase a CAGR of 9.2% during (2023 - 2029).
Based on Product, the market is segmented into Vacuum Systems/Pumps, Manifolds, Alarm Systems, Cylinders & Accessories, Flowmeters, Medical Air Compressors, Hose Assemblies & Valves, Outlets, Regulators and Masks. Based on End Use, the market is segmented into Hospitals, Pharmaceutical & Biotechnology Companies, Diagnostic & Research Laboratories, Academic & Research Institutions, Ambulatory Surgical Centers and Home Healthcare. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Medical Gas Equipment Market is Projected to reach USD 3.7 Billion by 2029, at a CAGR of 7.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Air Liquide S.A., Atlas Copco AB, Linde PLC, Allied Healthcare Products, Inc., Enovis Corporation, Powerex, Amico Group of Companies, GCE Holding AB (ESAB Corporation), Genstar Technologies Company Inc. and Rotarex S.A.
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