Albany, NY -- (SBWIRE) -- 04/25/2018 -- Medical Gases and Equipment Market: Overview
The medical gases and equipment market is expected to grow at a healthy growth rate during the forecast period. Economic development in the Asian and East European regions will help the market maintain a healthy growth rate in the future. China, India and Russia have a large population base and rising disposable incomes of consumers in these regions provide lucrative opportunities for the market. An opportunity analysis for these countries is provided below:
India: According to the Indian Gas Association, the medical and industrial gas market in India is growing at a rate of 15% – 18% annually. The presence of a large labor base and the growth in its economy, presents the medical gas and equipment manufacturers with immense growth opportunities
China: China is the fastest growing economy in the world and has a huge population base. These attributes attract manufacturers like Taiyo Nippon Sanso Shenwei Medical Gas Co Ltd, to invest in the country and exploit the available growth opportunities. According to Taiyo Nippon Sanso Shenwei Medical Gas Co Ltd, investing in China will help them mitigate risks born out of global recession
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Russia: Russia is the fastest growing Eastern European country and this has attracted foreign investments in the medical gas sector. E.g. Acquisition of Lentechgas by Air Liquide in November, 2012. This acquisition helped the organization gain access into the most profitable North West regions of Russia
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In terms of geography, Asia is the most promising segment of the market and will be the fastest growing segment during the forecasted period. The Asian medical gases and equipment market is expected to grow at a CAGR of 9.2% from 2012 to 2018. The presence of a large population base and high prevalence of pulmonary diseases (according to W.H.O: 90% of the deaths caused by COPD occur in low and middle income countries like India) and emergency medical conditions equip countries like India and China with a multitude of untapped opportunities. Recent economic development and government initiatives to strengthen their respective healthcare infrastructures have resulted in a rise in disposable incomes and awareness levels of consumers. Manufacturers like Taiyo Nippon Sanso Shenwei Medical Gas Co Ltd and Linde Group (BOC Gases) have realized the potential of these emerging countries and so have invested in them to strengthen their revenue generation streams.
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