The global medical gases and equipment market is poised to grow significantly through to 2021, driven by evolving regulation and various demographic factors, according to a report by Research and Markets.
The market is projected to reach $19.96bn by 2021, from $13.58bn in 2016, at a CAGR of 8% during the forecast period.
The market will primarily driven by the implementation of the US Food and Drug Administration (FDA) Safety and Innovation act, the increasing prevalence of respiratory diseases, a growing home healthcare market, and the rising ageing population.
Rapid urbanisation and the high prevalence of tobacco smoking will also play a part in such growth, says the report.
... to continue reading you must be subscribed
