The Medical Gases and Equipment market size in Latin America has been estimated at USD 2.00 billion in 2022. It is projected to reach USD 3.09 billion by 2027, at a CAGR of 9.1% during the forecast period from 2022 to 2027.
The aging population is significantly growing in Latin America and is estimated to favor the medical gases and equipment market. The increasing number of hospitals in this region equipping with the medical gases and equipment is another notable factor driving the market growth. Growing demand for home healthcare devices, Y-O-Y growth in the incidence of respiratory and chronic diseases, increasing pollution levels, and rising patient count are some of the secondary factors contributing to the market hike in this region.
Additionally, the increasing number of surgeries happening to the patients admitted in the ICU also supports the market in this region. A vast number of people are currently diagnosing with the COVID-19 in the Latin American market, which is estimated to act as a favorable condition to the medical gases and equipment market in this region.
The shortage of helium gas due to the Federal Helium Reserve shutdown is one of the major factors restraining market growth.
This research report on the Latin America Medical Gases and Equipment Market has been segmented and sub-segmented into the following categories:
Geographically, The Medical Gases and Equipment market in the Latin America region is projected to grow at a high CAGR during the forecast period. Factors such as the increasing incidence of lifestyle diseases, favorable government efforts further improve healthcare infrastructure, rising per capita incomes, and growing middle-class population drive the market in Latin America.
In this region, Brazil is expected to hold the largest share in the medical gases and equipment market during the forecast period due to the escalating aging population and low hospital bed-population ratio. Mexico is projected to be the quickest growing country during the analysis period. The increasing pharmaceutical industry and rising common lifestyle related diseases which propel the growth of Mexico.
Moreover, increasing per capita income, rising middle-class population, and enhancing healthcare infrastructure utilize favorable government efforts that further surge the market. Extensive usage of these medical gases and equipment in the hospitals for various applications includes resuscitation, surgery and medicinal bath, anesthesia, and ventilation and aerosol therapies propelling the market growth.
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, Atlas Copco, are the significant players of Latin America Medical Gases and Equipment market.
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