Global Specialty Gases Market for Healthcare Industry 2017-2021
About Specialty Gases
Specialty gases are a class of high-purity gases that require precise blending of component gases in a gas mixture. Specialized preparation methods and laboratory analysis are used to quantify the component gases in the mixture of gases. This is to obtain high-quality gases with minimal impurities. Advanced production processes, instrumentation, and analytical measurements require high-purity gases for minimal interference in the processes. Specialty gases are different from industrial gases in the sense that they can be a highly pure single gas or can be a mixture of 20-30 gases. The impurity tolerance for specialty gases is set by the end users that require an accuracy of ±1%.
Technavio’s analysts forecast the global specialty gases market for healthcare industry to grow at a CAGR of 7.46% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global specialty gases market for healthcare industry for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Specialty Gases market for Healthcare Industry 2017-2021
Technavio recognizes the following companies as the key players in the global specialty gases market for healthcare industry: Air Liquide, Air Products and Chemicals, The Linde Group, Messer Group, and Praxair Technology.
Other Prominent Vendors in the market are: Advanced Gas Technologies, Advanced Specialty Gases, Maine Oxy, Norco, Showa Denko, TAIYO NIPPON SANSO, and Welsco.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is innovations in storage design and packaging. Most specialty gases are packaged in cylinders at pressures of up to 300 barometers and are supplied to end users in volumes variants of 1-50 liters. These cylinders are made of high-strength steel and aluminum to withstand high pressures, avoid leakages, and ensure maximum safety throughout transportation and storage.”
According to the report, one driver in market is booming pharmaceutical and healthcare sectors. The global healthcare sector is primarily driven by the changing lifestyles, aging population, unhealthy eating habits, and an increase in the occurrence of chronic diseases across the globe. Specialty gases are crucial in the pharmaceutical industry. Pharmaceutical-grade specialty gases are expected to be highly compliant with the pharmacopeia standards. High-purity specialty gases are prominent in this sector as the pharmaceutical and healthcare industries are focused on patient safety. In addition, the current pharmaceutical sector is undergoing a shift in its manufacturing processes. Continuous processing and freeze drying techniques are expected to take over pharmaceutical manufacturing over the decade. Lyophilization, inerting, purging, blanketing, reactor cooling, solvent recovery, and reduction of VOCs are some of the applications of specialty gases in the pharmaceutical industry.
Further, the report states that one challenges in market is high cost of production and uncertain return on investments. The primary challenge for the vendors in the global specialty gases market is the profit margins in view of volatile price fluctuations and rising cost of production. The noble gas market constituted 11.4% of the overall specialty gases market and had applications in pharmaceuticals and various analytical techniques in 2015. The production of noble gases through atmospheric air separation is an energy-intensive process, where noble gases are yielded in trace amounts with major products being nitrogen, hydrogen, and oxygen. The major cost attributes in this business are energy, storage, and distribution costs. Of the three modes of distribution, such as tonnage, merchant, and packaged supplies, tonnage is a lucrative segment for the vendors because of its assured demand and low variable costs.
Air Liquide, Air Products and Chemicals, The Linde Group, Messer Group, Praxair Technology, Advanced Gas Technologies, Advanced Specialty Gases, Maine Oxy, Norco, Showa Denko, TAIYO NIPPON SANSO, and Welsco.
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