According to a new report, published by KBV research, The Global Medical Gas Equipment Market size is expected to reach $3.7 billion by 2029, rising at a market growth of 7.8% CAGR during the forecast period.
The Manifolds segment is showcasing a CAGR of 6.6% during (2023 - 2029). Medical facilities employ manifolds to supply a constant flow of medical gases to their piping systems. They so become an essential component of the conveyance of gases, which in turn stimulates market expansion. In addition, the need for manifolds is rising due to the rising demand for medical gases in hospitals and ambulatory surgical centers, boosting the market's expansion.
The Hospitals segment is leading the Global Medical Gas Equipment Market by End-use in 2022 thereby, achieving a market value of $1 billion by 2029. This is because hospitals are becoming more prevalent in both developed and developing nations, and they are using medical air, liquid nitrogen, carbon dioxide, and nitrogen peroxide, and these gases are extensively used in emergency rooms, intensive care units, and operating rooms. The amount of medicinal gases used directly relates to increased hospital activities.
The North America market dominated the Global Medical Gas Equipment Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $1.3 billion by 2029. The Europe market is estimated to grow a CAGR of 7.4% during (2023 - 2029). Additionally, The Asia Pacific market would showcase a CAGR of 8.6% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/medical-gas-equipment-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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