The Europe Helium Market would witness market growth of 6.2% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 27,713.2 tonnes, showcasing a growth of 3.2% (2019-2022).
The end-use outlook for the medical and healthcare sector in the market reflects a trajectory of steady growth, propelled by helium's indispensable role in various critical applications within this domain. Helium, renowned for its inertness, low reactivity, and ability to maintain stable temperatures, serves as a vital component in a range of medical and healthcare technologies. Therefore, the Germany market utilized 3,272.5 tonnes of helium in medical and healthcare sector in 2022.
The Germany market dominated the Europe Helium Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $363.8 million by 2030. The UK market is registering a CAGR of 6% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 5.7% during (2023 - 2030).
It is also used in particle accelerators, where it is used to cool the superconducting magnets that steer and focus particle beams. Particle accelerators are used in scientific research, nuclear physics, and medical applications. The application of helium in particle accelerators promotes technological innovation and scientific progress. Significant renovations are currently being carried out on the nation's healthcare infrastructure and facilities. For example, Kuwait aspires to improve the quality of healthcare in treatment centers, including the Kuwait Cancer Center, the Kuwait Radiology Center, the Kuwait Chest Disease Hospital, the Dasman Research Center for Diabetes, and the Ibn-Sina Center for Ophthalmology. The nation also aims to producing healthcare providers of international caliber.
Moreover, helium-oxygen mixtures, known as heliox, are used in treating respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD). Heliox is an oxygen-helium gas mixture, generally consisting of a greater helium concentration than that present in the atmosphere. The use of heliox in respiratory therapy is based on helium's physical properties. It is less dense than air, which means that when a person inhales heliox, the gas mixture flows more easily through narrowed airways, such as those found in individuals with asthma or COPD. This may assist in increasing oxygen delivery to the lungs and decreasing respiratory effort.
Furthermore, Europe's growing focus on healthcare and medical research drives the demand for helium in laboratory settings. For its inert properties and low boiling point, it is used in various laboratory equipment, such as gas chromatographs and mass spectrometers. Hence, the region will present lucrative growth prospects for the market.
Free Valuable Insights: The Global Helium Market will Hit USD 5.3 Billion by 2030, at a CAGR of 6.4%
Based on Phase, the market is segmented into Gas and Liquid. Based on End-use, the market is segmented into Medical & Healthcare, Aerospace & Defense, Electronics & Electrical, Nuclear Power, Metal Fabrication and Others. Based on Application, the market is segmented into Cryogenics, Breathing Mixes, Leak Detection, Welding, Pressurizing & Puring, Controlled Atmosphere and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Phase (Volume, Tonnes, USD Billion, 2019-2030)
By End-use (Volume, Tonnes, USD Billion, 2019-2030)
By Application (Volume, Tonnes, USD Billion, 2019-2030)
By Country (Volume, Tonnes, USD Billion, 2019-2030)
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