San Francisco, California (PRWEB) May 13, 2014
The global market for medical gases and equipment is expected to reach USD 10.52 billion by 2020, according to a new study by Grand View Research, Inc. The implementation of industry friendly regulations such as the FDA Safety and Innovation Act in the U.S. and growing patient awareness levels are expected to drive market growth over the next six years. Growing global geriatric population base coupled with increasing prevalence of target diseases such as chronic obstructive pulmonary diseases (COPD) is also expected to enhance market demand over the forecast period.
The report “Medical Gases Market By Product (Oxygen, Nitrogen, Helium, Laser Gas, Lung Gas, Aerobic, Anaerobic Mixtures, Helium Oxygen Gas Mixtures, Medical Air, Carbon Dioxide-Oxygen, Laser Gas, Lung Gas, Ethylene Oxide), By Equipment (Manifolds, Outlets, Medical Air Compressors, Masks) Analysis And Segment Forecasts To 2020” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/medical-gases-market.
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Oxygen dominated the global medical pure gases market in 2013, accounting for over 44% of total revenue. Rising prevalence of patients admitted in emergency care and prevalence of patients suffering from respiratory diseases requiring the administration of oxygen are some of the factors accounting for its large market share. Nitrous oxide followed oxygen in terms of market share, accounting for over 25%. However, its market share is expected to decline by 2020, owing to the rising demand for anesthetic drugs. In addition, the medical gas mixtures market was dominated by oxygen-carbon dioxide medical gas mixtures in 2013, accounting for over 30% of revenue.
Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global medical gases and equipment market on the basis of product and region:
Browse All Medical Devices Market Reports at http://www.grandviewresearch.com/industry/medical-devices.
Related Market Study Published By Grand View Research:
In-Vitro Diagnostics (IVD) Market Analysis and Segment Forecasts To 2020 (http://www.grandviewresearch.com/industry-analysis/in-vitro-diagnostics-ivd-market) - The global market for IVD is expected to reach USD 74.32 billion by 2020, according to a new study by Grand View Research, Inc. Constantly improving patient awareness levels pertaining to infectious diseases and their subsequent diagnosis, the introduction of advanced molecular and tissue diagnostic tests for cancer such as companion diagnostics and the growing global base of geriatric population are some of the primary drivers for this market. Moreover, rising global healthcare expenditures, especially in Asia Pacific and increasing demand for rapid, minimally invasive and non-invasive diagnostic procedures are also expected to have a positive impact on market growth.
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
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