Specialty gases are the gases that are highly pure up to 99.99% and very rare. The unique benefits of the specialty gases include optimize performance, help to improve yields, lower costs and others. The key applications of the specialty gases in the healthcare sector are analytical, laboratory application, sterilization, and others. Expanding production facilities for specialty gases by established players, increasing geriatric population across the globe and increasing utilization of atmospheric gases for producing specialty gases are the major key driver for the market. Additionally, rising technological advancement for improving the purity of specialty gases have been supplementing the growth of the market. However, strict government regulation due to hazardous waste associated with the production of specialty gases and high dependency on gas handling systems and gas distribution systems are the factors that have been limiting the market.According to AMA, the market for Specialty Gases For Healthcare is expected to register a CAGR of 6.43% during the forecast period to 2024. This growth is primarily driven by Expanding Production Facilities for Specialty Gases by Established Players and Increasing Geriatric Population across the Globe.
Globally, a noticeable market trend is evident An Increasing Utilization of Atmospheric Gases for Producing Specialty Gases. Major Players, such as Air Liquide (France), Air Products and Chemicals (United States), The Linde Group (Germany), Messer Group (Germany), Praxair Technology (United States), Advanced Gas Technologies Inc. (Canada), Advanced Specialty Gases (United States), Maine Oxy (Canada) and Showa Denko (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In May 2018, Air Liquid had announced new hub in Cambridge as well as new launch of specialty gases online catalog. The key benefits of a new hub for the company are good access to the city from our depot, expert support in laboratory & industrial gas applications, fast daily delivery from stock and many others. The new hub and new launch of the catalog of the company can help to earn more revenue in the operating market.
- Expanding Production Facilities for Specialty Gases by Established Players
- Increasing Geriatric Population across the Globe
- An Increasing Utilization of Atmospheric Gases for Producing Specialty Gases
- Strict Government Regulation due to Hazardous Waste associated with Production of Specialty Gases
Rising Technological Advancement for Improving Purity of Specialty Gases and Thriving Medical Tourism Industry Particularly in Asian Countries
High Dependency on Gas Handling Systems and Gas Distribution Systems
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