UAE Medical Gases Market Size to Grow at CAGR of 7.8% During 2022–2028
UAE medical gases market size is expanding owing to the increasing demand for medical, point-of-care, and home healthcare services from the country’s growing geriatric population, rise in the prevalence of chronic diseases, and supportive government initiatives.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects UAE medical gases market size to grow at a steady CAGR of 7.8% during the forecast period between 2022 and 2028. This is primarily attributed to the rise in chronic disease prevalence across UAE. During the projected period, it is also expected that the growth of the home healthcare sector and technological advancements will hasten domain development. In addition, there are rising rates of preterm births and respiratory illnesses, which are both exacerbated by pollution levels and the number of smokers. Additionally, the domain's size is growing as a result of public organizations actively encouraging the use of this equipment. Furthermore, to make oxygen supply compartments and closures more easily distinguishable and reduce the risk of contamination, the FDA recently announced an update to its CGMP regulations that include new labeling, color, and design requirements.
UAE Medical Gases Market – Overview
Medical gases are used in pharmaceutical manufacturing, medicine, and a wide range of biotechnology applications and healthcare services. A medical gas is a gas mixture or pure gas that is used in a variety of medical processes. The pharmaceutical phase contains the following medical gases: oxygen, hydrogen, ammonia, carbonic acid gas, nitrogen, B binary compound, and inhalation general anesthetic. Medical gas instrumentation includes masks and cylinders for storing and delivering gas. Medical gas is essential for hospitals and other aid facilities to function.
The rising incidence of chronic respiratory diseases (CRDs) like pulmonary hypertension, chronic obstructive pulmonary disease, occupational lung diseases, and asthma is what is driving the demand for medical gases. For instance, studies show that chronic obstructive pulmonary disease (COPD) claims many lives each year in the United Arab Emirates. Asthma also has a huge impact on millions of people. Medical gases like oxygen, lung gas mixtures and helix are used to treat and diagnose these respiratory diseases. In addition, an aging and expanding population makes people more prone to chronic illnesses. The elderly people are more prone to chronic illnesses because of weakened immune systems. The significant rise in the number of elderly people has led to an increase in the prevalence of respiratory conditions. Such information illustrates how the market might ultimately be influenced throughout the forecast period by the expected rise in oxygen supply demand.
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Opportunity: Increasing Volumes of Surgeries
As surgeries are such an important part of the healthcare industry, changes in surgical volumes are known to affect demand for medical gases. The rising prevalence of cardiac arrest, chronic obstructive pulmonary disease, and other disorders compel healthcare practitioners to prescribe medical oxygen to patients for life support, thereby supplementing industry growth. Cryosurgeries are also used to remove cancerous tumors and skin lesions. The prevalence of cancer is expected to rise and given that surgery is one of the most popular treatments for various cancers, this will have a significant impact on market growth.
Challenge: Limited Supply of Medical Gases Including Helium
A global helium shortage is soon to arrive, according to various markets. Healthcare facilities are consequently compelled to use other substitutes, like nitrogen, which reduces the market potential for helium gas. The cost implications of isolating and storing helium have raised concerns among market participants, even though the majority of helium is extracted during the natural gas extraction process. In the late 2000s, there were helium shortages that have continued ever since. Relying on helium proves risky for market end-users because the majority of the market's current helium supply is dependent on a small number of sources.
Impact of COVID-19 on UAE Medical Gases Market
Medical gases are critical in the healthcare industry. Following the introduction of COVID-19, medical gases, particularly oxygen, were in high demand. Medical oxygen has been identified as a critical treatment for coronavirus. However, due to unusually high demand from all regions, production and supply constraints were discovered, resulting in a market shortage in 2020. Furthermore, as demand stabilized and suppliers expanded their manufacturing capabilities, the industry is expected to experience an efficient demand-supply scenario in the coming years. Even though coronavirus restrictions have limited the use of medical gases in several other applications, healthcare facilities have reported a nearly 10% increase in supply, which is a boon to the industry. Until global pandemic-related restrictions are put in place, this trend is anticipated to continue in the industry.
UAE Medical Gases Market – By Application
The pharmaceutical manufacturing and research, diagnostic applications, therapeutic applications, and other segments make up the UAE's medical gases market. The therapeutic application segment held the largest market share due to the wide variety of medical gases used to treat and manage various disease conditions. Therapeutic gases are regarded as medicines and are subject to stringent purity and quality requirements. The most popular therapeutic gases include helium-oxygen mixtures, medical air, oxygen, nitric oxide, and carbon dioxide. In all healthcare settings, medical oxygen is frequently used for everything from anesthesia to inhalation therapy.
Competitive Landscape
UAE medical gases market is fiercely competitive. Prominent players in UAE medical gases market include Linde plc, SOL GROUP, Atlas Copco AB, GCE Group, Messer SE & Co. KGaA, Air Liquide, Amico Group, MATHESON TRI-GAS, INC., and Praxair Technology, Inc. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in UAE medical gases market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of UAE Medical Gases Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in UAE Medical Gases Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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