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March 20, 2013 /PRNewswire/ --
According to a new market report published by Transparency Market Research (
"Medical Gases and Equipment Market (Pure Gases, Gas Mixtures, Oxygen, Nitrous Oxide, Carbon Dioxide-Oxygen, Nitrous Oxide-Oxygen, Manifolds, Vacuum Systems)-Global Industry Analysis, Size, Share, Growth and Forecast, 2012-2018," in 2011, the global medical gases and equipment market was calculated at
USD 5.3 billion and is expected to grow at a CAGR of 8% from 2012 to 2018, to reach an estimated value of
USD 9 billion in 2018.
Browse the full report at http://www.transparencymarketresearch.com/medical-gases-and-equipment.html
The implementation of the U.S. Food and Drug Administration Safety and Innovation Act in
July 2012, which includes the elimination of drug user fees for manufacturers and grants them the right to file for intellectual property rights for new products, is the most important driver for the market. Furthermore, aging global population and the rapidly growing ancillary home healthcare market are some of the other drivers for the global medical gases and equipment market.
Medical equipment segment held majority of the market share in 2011 and are expected to maintain their market position in terms of market share till 2018. In the global medical pure gas market, the medical grade oxygen market held the highest share in 2011 and is expected to increase its market share by 2018, owing to the presence of a large patient pool suffering from respiratory diseases and the rising number of patients admitted for emergency medical care. Nitrous oxide followed oxygen in terms of market share in 2011; however, its market share is expected to plummet by 2018 due to the availability of anesthetic drugs with high profit margins and the growing use of medical air as an alternative anesthetic gas.