The medical gases and equipment market size in Europe was estimated at USD 5.32 Billion in 2022. It is further projected to grow and worth USD 7.82 Billion by 2027, showcasing a CAGR of 8.0% between 2022 to 2027.
Medicinal gases are specialized gases used in Europe for medical applications, medication processing, and biotechnology research. A single pure gas or a mixture of gases can be used as a medicinal gas. Oxygen, ammonia, hydrogen, nitrous oxide, nitrogen, and carbon dioxide are the most commonly used gases.
Due to the growing elderly population and improvements in the pharmaceutical industry, the medical gases and equipment market has a significant growth potential. Another crucial issue is the purity of the gases, which plays a vital part in the patient's recovery. Medical gases also pose a risk of infection. As a result, medical gases must be created in accordance with specific guidelines. Increased rates of chronic respiratory disorders, implementation of industry-friendly laws such as the FDA Safety and Innovation Act, and increased biotechnology research are the primary factors driving the growth of the European medical gases and equipment market during the forecast period. Furthermore, the medical gases and equipment industry would be heavily driven by government measures to expand the provision of emergency care in developing nations.
However, the legislation emphasizes that helium from the reserve should be drawn down at a slower rate and at higher costs in order to allow a smoother transition and avoid a precipitous drop in the price of helium in the European market. High development costs and limited operational revenue for research and development of novel medications, on the other hand, are likely to stymie market expansion. The medical gases and equipment industry is hampered by a lack of understanding and a limited healthcare budget, particularly in developing countries.
This research report on the European medical gases and equipment market has been segmented and sub-segmented into the following categories:
Geographically, the European market is the second biggest market in terms of market share across the globe. The market in Europe is highly driven due to the increasing demand for mixture gases required for conditions such as renal dialysis, cardiopulmonary bypass surgery, and pain management. Germany dominates the Europe medical gases and equipment market due to technological advancements within the region. The rising use of medical gases and equipment in the management of various respiratory disorders, such as COPD and asthma, is largely responsible for the stable growth rate. During the projection period, rising rates of COPD, asthma, and other medical problems such as cardiovascular and lifestyle-related diseases are likely to influence demand for medical gases and equipment in Germany and the United Kingdom.
KEY MARKET PLAYERS:
Companies playing a key role in the Europe medical gases and equipment market profiled in this report are Air Products and Chemicals, Inc., The Linde Group, Air Liquide, Praxair, Inc., Taiyo Nippon Sanso Corp., SOL-SpA, Airgas, Inc., Atlas Copco, Messer Group, GCE Holding AB, Beacon Medaes, Medical Gas Solutions Ltd., Matheson Tri-Gas, Taiya Nippon Sanso and Atlas Copco.
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