Unlike other commercial and industrial markets in the industrial gas business, healthcare is driven by medical care — one of life’s necessities.
Despite continued sluggish global economic growth, the healthcare market is still growing at a moderate pace. The US, which spends more on healthcare as a percentage of real gross domestic product (GDP) than any other country, is predicted to spend even faster going forward driven by new healthcare legislation. By working strategically and tactically within medical market segments, the industrial gas industry has been able to tap into this growing market with expanded product and service offerings, even in recession years. A look at the industrial gas industry’s past year of activities in medical markets reveals continued growth in the healthcare segment, especially for those who invest.
The healthcare market for the industrial gas industry has been characterized by gas producers and distributors who supply oxygen, nitrous oxide, anesthesia gases, special mixtures, and related services. Today’s healthcare market goes beyond these traditional market definitions and includes an array of new gases, related equipment, and healthcare technologies, including a broadening of the rapidly growing respiratory therapy market and cryotherapy. In this report, we look at several new applications and equipment trends gas producers and related equipment suppliers have persued to grow and be competitive in the US Healthcare market, which is typified by stiff competition in pricing, supply, and service.
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