The North America Medical Gas Equipment Market would witness market growth of 7.1% CAGR during the forecast period (2023-2029).
The purity of the gases is crucial to the patient's rehabilitation, and there is a chance of contracting an infection from medical gases. The need for medicinal gases to be manufactured in accordance with specific specifications results from this. The important elements that will propel the expansion of the market during the analysis period include the rising prevalence of chronic respiratory disorders, implementing policies that are beneficial to business, and an increase in biotechnology research.
Some chronic lung conditions, including COPD, can benefit from oxygen therapy. The heart, not the lungs, is relaxed by oxygen. Pulmonary artery hypertension is prevented because of it. Oxygen consumption for a prolonged period can reduce the strain on the heart. The rising frequency of respiratory diseases catalyzes the expansion of the market. Other medical gases are also used to treat various chronic respiratory problems.
Breathing becomes difficult for the 16 million Americans who have chronic obstructive pulmonary disease (COPD), including emphysema or chronic bronchitis, according to the Centers for Disease Control and Prevention. In addition, millions more people have COPD yet are undiagnosed and untreated. 2.0 million Canadians had chronic obstructive pulmonary disease (COPD) in 2019. Additionally, according to the CDC, 3.08 million students in high school and middle school use at least one tobacco product, such as e-cigarettes, and almost 40 million U.S. adults still smoke cigarettes. Over 1,600 American teenagers under 18 light up their first cigarette daily. It's projected that the prevalence of COPD and other respiratory illnesses would raise demand for medical gas equipment.
The US market dominated the North America Medical Gas Equipment Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $905.4 million by 2029. The Canada market is poised to grow at a CAGR of 9.5% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 8.5% 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 U.S., Mexico, Canada, and Rest of North America.
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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