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How is the Growth Rate of the Medical Gas And Equipment Market Estimated for 2024-2033?

In recent times, the medical gas and equipment market has seen robust expansion. Its growth is projected to increase from $20.72 billion in 2023 to $22.58 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 9.0%. Factors that have contributed to the observed growth during the historic period include initiatives for personalized medicine, education and awareness drives, responses to pandemics, advancements in healthcare, and worldwide healthcare trends.

The market size for medical gas and equipment is forecasted to experience robust expansion in the coming years, with a projection to reach $32.14 billion by 2028, growing at a compound annual growth rate (CAGR) of 9.2%. The growth during the predicted timeline can be linked to factors such as the escalating expenditure on healthcare, a surge in chronic illnesses, the impact of the covid-19 pandemic, a shift towards home healthcare, and demand in up-and-coming markets. During this forecasted period, trends like cost efficiency and accessibility, heightened awareness and education, individualized medicine, telemedicine and remote surveillance, and an emphasis on green technology are expected to prevail.

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What Key Drivers Are Propelling the medical gas and equipment Market’s Growth?

The escalation in respiratory diseases is anticipated to boost the expansion of the medical gas and equipment market in the future. These diseases can impact the lungs along with other respiratory system components. Medical gases and equipment have a key role in curing respiratory diseases and their raising occurrence would contribute to the market’s growth. To illustrate, the Global Tuberculosis Report, issued by the Switzerland-based World Health Organization in October 2022, reported that the global tuberculosis (TB) incidence was projected at 10.6 million cases in 2021, showing an increase of 4.5% from 10.1 million in 2020, with a rate of 134 cases per 100,000 population. Hence, the escalating rate of respiratory diseases is fuelling the expansion of the medical gas and equipment market.

What Are the Distinct Segments of the Medical Gas And Equipment Market?

The medical gas and equipment market covered in this report is segmented –

1) By Type: Medical Gases, Medical Gas Mixtures, Biological Atmospheres, Medical Gas Equipment

2) By Application: Respiratory, Anesthesia, Medical Imaging, Cryosurgery, Therapeutic, Diagnostic

3) By End-User: Hospitals, Research Institutions, Home Healthcare, Pharmaceutical Industry And Academic, Biotechnology Industry, Emergency Service

Which New Trends Are Making Waves in the Medical Gas And Equipment Market?

In the medical gas and equipment market, product innovation is gaining increasing traction, becoming a crucial trend. Major firms in this market are concentrating their efforts on creating new technological advancements to solidify their standing. For example, GCE Healthcare, a Swedish manufacturer specializing in high-pressure gas equipment, unveiled a new product, MediTec, in June 2021. This high-pressure gas regulator, with a maximum delivery capacity of 25 lpm, is designed to address cluster headaches and resuscitation situations. MediTec stands out due to its distinctive self-centering function that facilitates gas flow even under unexpected circumstances when the device flow selector is positioned between two settings. The device offers controlled gas flow through a flow selector and also comes with a quick connect option for diverse uses.

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Which Regions Are Significant to the Growth of the Medical Gas And Equipment Market?

North America was the largest region in the medical gas and equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical gas and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Medical Gas And Equipment Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the medical gas and equipment market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Medical Gas And Equipment Market Include

1. Medical Gas And Equipment Market Executive Summary

2. Medical Gas And Equipment Market Segments

3. Medical Gas And Equipment Market Size And Template Market Growth Rate

4. Key Medical Gas And Equipment Market Trends

5. Major Medical Gas And Equipment Market Drivers

……

25. Key Mergers And Acquisitions In The Medical Gas And Equipment Market

26. Top Medical Gas And Equipment Companies

27. Medical Gas And Equipment Market Opportunities And Strategies

28. Medical Gas And Equipment Market, Conclusions And Recommendations

29. Appendix

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