The global PICC tip placement systems market was valued at US$ 114.9 Mn in 2021. The PICC tip placement systems market is expected to reach US$ 210.5 Mn by 2032, with sales revenue expected to increase at 5.7%. Innovation in software development for better assistance, easy use of PICC tip placement systems, reducing turnaround time to initiate infusion therapy, and integration of technologies are key market trends.
Increasing chronic diseases, including chronic respiratory diseases like asthma and pulmonary hypertension, coupled with government initiatives, including demand for home healthcare and covid-19 has helped the medical gas market expand its roots in the new regional spaces.
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As chronic diseases have brought traction to the medical gas through the increasing demands of cure for occupational lung diseases, pulmonary hypertension, chronic obstructive pulmonary and asthma. These diseases demand self-care units that include medical gas.
The medical gas market outlook explains the latest trends and puts forth the versatility of medical gases like helium, oxygen, carbon dioxide, nitrogen, and nitrogen oxide. These breathing issues caused by the severe conditions of covid-19 are also increasing the demand for medical gas.
New medical gas manufacturing units are being set up along with the growing demand for oxygen gas due to chronic diseases and severe stages of covid-19, enhancing and structuring the healthcare supplies globally.
The COVID-19, along with increasing awareness about self-care and health monitoring, has gained traction in the medical gas market. The market creates opportunities for new oxygen manufacturers, oxygen tank vendors, and oxygen transportation.
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KEY TAKEAWAYS:
- The medical gas market is divided by Gas Type, Equipment Outlook, Application and End- User, segmenting it into small segments that exceed the growth prospects for the medical gas market.
- The leading segment in the gas type category is pure gases, growing with a CAGR of 7.0% between 2022 and 2032, while the segment was flourishing at a higher CAGR of 7.7% I the last forecast (2015-2021). Its growth is attributed to the effective use of pure gases in chronic diseases, pulmonary lung disorders and chest infections through covid-19.
- The biggest segment in the application category is the hospital segment, growing at a slightly higher CAGR of 7.9%, the hospital segment now flourishes at a CAGR of 7.4%, increasing the medical gas market size.
- The United States has the highest growth potential in the market as it thrives on a CAGR of 6.9% between 2022 and 2032, large number of covid-19 cases, severe patients coupled with geriatric generations are pushing the demand for the sales of medical gas.
COMPETITIVE LANDSCAPE:
Some of the medical gas market key players listed in the PMR study are Air Liquide, Praxair, Atla Copco, The Linde Group, and Airgas, Inc.
Recent Developments
- Air Liquide has introduced its upgraded line of gas cylinders including oxygen, air, allenox, nitrous oxide and nitrogen. This gains traction and increases the medical gas market size.
- Atla Copco has launched its breathing air solutions, surgical equipment along with new gas solutions, increasing the sales of medical gas globally.
Key geographies evaluated in this report are:
North America – U.S, Canada
Europe – France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC – China, India, Japan, Australia, Others
Latin America – Argentina, Brazil, Others
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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