The global medical gas cylinders market is poised for significant growth, with an expected market value of US$ 19.7 billion in 2023. Over the forecast period from 2023 to 2033, it is projected to further accumulate to reach a substantial market valuation of US$ 29 billion, showcasing a robust CAGR of 4.4%. Looking back at the historical period from 2018 to 2022, the market displayed notable growth, with a CAGR of 2.3%.
Several factors contribute to the promising outlook of this market. One key driver is the increasing demand for medical gases in various healthcare settings, including hospitals, clinics, and home healthcare environments. These gases play a pivotal role in medical treatments, diagnostics, and therapies, and the growing emphasis on healthcare services and patient care is fueling their demand.
Get a Sample PDF of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-13136
Additionally, the market is being positively influenced by the rising popularity of smoked food products, where medical gas cylinders are utilized for generating and infusing smoke into culinary preparations. As consumers worldwide develop a taste for smoked delicacies, the demand for these cylinders is expected to continue its upward trajectory, thereby driving the overall market growth throughout the analysis period.
The Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Medical Gas Cylinders
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Medical Gas Cylinders market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Takeaways and Projections
- The U.S. is expected to lead the North America Medical Gas Cylinders industry, projecting the fastest growth in the region between 2023 and 2033
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2033.
Request Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-13136
Report Benefits & Key Questions Answered
- Historical Market Analysis: The detailed survey by FMI, examines key factors in the Medical Gas Cylinders industry that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Medical Gas Cylinders industry for the forecast period 2023-2033.
- Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Medical Gas Cylinders for the assessment period. As per the study, the demand for Medical Gas Cylinders will grow at a robust CAGR between 2023 and 2033.
- Market Trend Analysis: The latest study by FMI on the Medical Gas Cylinders market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The industry survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Medical Gas Cylinders market. The survey provides a thorough industry share analysis to offer an in-depth analysis of prevailing competition.
Ask an Analyst: https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-13136
Key Segmentation:
Based on Material Type:
- Aluminium
- Steel
Based on End-user:
- Hospitals
- Manufacturing Industry
- Institutions
- Homecare
- Others
Based on Capacity Type:
- 10L
- 40L
- 50L
- 100L
- More than 100L
Based on Portability:
- Fixed
- Portable
Based on Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube