MEDICAL GASES AND EQUIPMENT MARKET ANALYSIS

Market Challenges And Opportunities

Global Medical Gases and Equipment Market - Drivers

• Increasing supply of medical gases and equipment: The increasing supply of medical gases and equipment of regulatory authorities is expected to drive the global medical gases and equipment market over the forecast period. For instance, in April 2020, the U.S. Food and Drug Administration (FDA) issued a temporary policy to help increase the number of portable cryogenic oxygen and nitrogen containers.
• Increasing adoption of growth strategies: Lucrative market expansion will result from the leading companies' core strategies including collaborations, investments, mergers, acquisitions, and technical innovations. For instance, in January 2022, NOVAIR, a leading manufacturer of on-site gas production systems, announced the acquisition of OGSI - Oxygen Generating Systems Intl., a U.S.-based manufacturer of industrial and medical oxygen generators. Through this acquisition OGSI and the U.S. market, gain access to a wide range of high-end solutions.

Global Medical Gases and Equipment Market - Restraint

• Shorage of oxygen cylinders: Shortage of oxygen cylinders for the treatment of respiratory diseases is expected to hamper the growth of the medical gases and equipment market over the forecast period. For instance, in September 2021, according to an article published in National Center for Biotechnology Information, in 2021, the COVID-19 pandemic had accelerated the demand for oxygen supplies globally. Many countries have not witnessed such high demand before the pandemic in order to meet their daily oxygen requirements.