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North American Medical Gas Equipment Market revenue to reach $1.6 Bn by 2028
Published Date: 2022-05-17
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North American Medical Gas Equipment Market size is predicted to cross USD 1.6 billion by 2028, according to a latest forecast report by Graphical Research.
The market growth is owing to the rapid technological advancement in products. Moreover, the development of portable and lightweight medical gas equipment has result as a boon to rising home healthcare market. For instance, GCE Healthcare launched a brand-new design for its high-pressure gas regulator, MediTec. MediTec is a low weight regulator that includes option of quick connector and a flow selector for versatile usage. This development assisted the company to expand its product offerings.
However, owing to the frequently changing regulatory policies, the market shows sluggish growth. Moreover, the manufacturers of medical gas equipment are required to comply with current good manufacturing practice (cGMP) requirements issued by national and regional regulatory bodies. For instance, all personnel including those working on the logistics or manufacturing floor must have the proper training, experience, and education to handle the medical gas equipment to avoid serious injury or death. Such high regulatory compliances to handle medical gas and equipment involves costs, thereby limiting the scale of profitability of market.
The vacuum systems segment accounted for 14.9% market share in 2021. The advanced designs such as medical claw enclosed, open system, lubricated vane open system and oil-less vane open system enables efficient working of medical gas delivery systems. In addition, reduced noise level system and effective cleaning system provides low maintenance, thereby allowing installation of vacuum systems at point of utilization and saving cost. Such factors will be responsible for increasing adoption of vacuum systems in healthcare facilities.
Browse detailed statistical insights from the report, “North America Medical Gas Equipment Market Forecast 2028 By Product (Manifolds, Outlets, Hose Assemblies & Valves, Alarm Systems, Cylinders, Flowmeters, Regulators, Medical Air Compressors, Vacuum Systems), By End-use (Hospitals, Clinics, Ambulatory Surgical Centers), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The ambulatory surgical centers segment was valued at USD 415 million revenue in 2021. The ambulatory surgical centers offer patient convenience to undergo procedures and surgeries safely outside the hospital settings, thereby augmenting the industry growth. In addition, increasing number of ambulatory surgical centers in the U.S. is another key factor influencing the market demand. For instance, according to the Association of Wisconsin Surgery Centers, Inc., there are nearly 5,300 ambulatory surgery centers in the U.S. performing over 23 million surgeries annually.
Canada medical gas equipment industry will surpass USD 324.2 million by 2028, attributed to rising use of medical gas equipment in the management of various respiratory disorders such as asthma and COPD. Thus, increasing number of emergency visits coupled with hospital admissions for respiratory disorders, among other factors will result in the increasing demand of medical gas equipment.
The medical gas equipment in North American market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2028, for the following segments:
North America Market, By Product
- Hose Assemblies and Valves
- Alarm Systems
- Medical Air Compressors
- Vacuum Systems
North America Market, By End-use
- Ambulatory Surgical Centers
The above information has been provided for the following countries:
- North America