Saudi Arabia Medical Gases Market to grow with a CAGR of 6.92% through 2029
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Saudi Arabia Medical Gases Market.
According
to TechSci Research report, “Saudi Arabia Medical Gases Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2019-2029”, Saudi Arabia Medical Gases
Market was valued at USD 410.60 million in 2023 and is anticipated to witness
an impressive growth in the forecast period with a CAGR of 6.92% through 2029.
This can be due to collaborations and partnerships among leading companies with
a diverse approach to merge the expertise of individual companies and to
strengthen their position in the market.
Increasing awareness of healthcare plays a
significant role in driving the demand for medical gases. With greater
awareness of the importance of preventive healthcare, individuals are more
likely to seek regular check-ups and screenings. Diagnostic tests often require
medical gases, such as oxygen for blood gas analysis, to assess respiratory and
metabolic health. Improved healthcare awareness encourages people to seek early
detection and diagnosis of health conditions. The early diagnosis of
respiratory diseases, for example, may lead to a greater need for medical gases
like oxygen for immediate treatment. Health and wellness programs and
initiatives promote overall well-being and encourage individuals to manage
their health more proactively. Such programs may include services that utilize
medical gases, such as pulmonary rehabilitation for those with respiratory
conditions. Increased healthcare awareness leads to better patient education.
As patients become more informed about their conditions and treatment options,
they may actively participate in decisions regarding medical gases used for
their care.
Patients
and their families may become advocates for their own healthcare, leading to
more discussions with healthcare providers about the use of medical gases,
potential treatments, and the role of these gases in their care. With the
proliferation of healthcare information online and through various media
channels, individuals are more likely to learn about the use of medical gases
and their benefits in managing specific health conditions.
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Economic
factors present challenges in the Saudi Arabia Medical Gases Market.
Fluctuations in the cost of raw materials, energy, and labor can affect the
cost of producing medical gases. Economic challenges, such as rising production
costs, may lead to higher prices for medical gases, impacting affordability for
both healthcare facilities and patients. Economic factors, including inflation
and changes in currency exchange rates, can affect the purchasing power of
healthcare providers and consumers. A weakened currency or high inflation can
make medical gases more expensive for import-dependent markets like Saudi
Arabia. Economic challenges can lead to reduced healthcare budgets and
resources allocated for medical gases and equipment. Healthcare providers may
face budget constraints, affecting their ability to purchase and maintain
medical gas supplies. Patients who require home oxygen therapy or other medical
gases may face challenges in affording these services, especially if there are
changes in their financial circumstances due to economic factors.
Saudi Arabia Medical Gases Market is segmented
based on Type,
Application, End User, and by region.
Based on the Application, Saudi Arabia Medical
Gases Market is segmented into Therapeutic, Diagnostics. Medical gases play a
crucial role in diagnostic testing and medical procedures that require accurate
and reliable results.
lood gas analysis is a diagnostic test
used to measure the levels of oxygen (O2), carbon dioxide (CO2), and pH in the
blood. It helps assess a patient's respiratory and metabolic status. Medical
gases, including oxygen and carbon dioxide, are used to calibrate and control
blood gas analyzers to ensure the accuracy of test results. Pulmonary function
tests (PFTs) assess lung function and help diagnose respiratory conditions like
asthma and chronic obstructive pulmonary disease (COPD). Medical gases, such as
helium and carbon dioxide, may be used to assess lung volumes, diffusion
capacity, and airflow limitations. Fractional Exhaled Nitric Oxide (FeNO)
Testing measures the level of nitric oxide in exhaled breath, which is used to
diagnose and monitor airway inflammation in conditions like asthma. Nitric
oxide is introduced as a medical gas to test equipment for precise
measurements.
Based on Region, Northern & Central region held the largest share in the Saudi Arabia
Medical Gases Market. Major hospitals and medical facilities in the
Northern and Central regions attract patients not only from within Saudi Arabia
but also from neighboring countries. This medical tourism contributes to the
high demand for medical gases in these areas. These regions often host research
and innovation centers, including partnerships with leading healthcare
institutions. Such centers may require specialized medical gases for research
purposes. The Northern and Central regions benefit from well-established
transportation and distribution networks, ensuring a steady and efficient
supply of medical gases to healthcare facilities. These regions are also centers
for medical education and training. Medical students, professionals, and
healthcare workers in training require access to medical gases for their
studies and practical training.
Some
of the major companies operating in the Saudi
Arabia Medical Gases Market include:
- Linde
Saudi Industrial Gas Company (SIGAS)
- Air
Products Middle East
- Gulf
Cryo Saudi for Industrial & Medical Gases
- VitalAire
Saudi Arabia
- Southern
Gas limited.
- Jubail
Gas Plant Co, Ltd.
- Jacko
Gases Company
- Abdullah
Hashim Gas
- Aldakheel
Industrial Gases Plant (DIGAS)
- Barrak
Industrial Gases Factory
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“The Saudi Arabia Medical Gases Market is experiencing
robust growth, driven by several key factors. One of the primary drivers is the
increasing demand for quality healthcare services, prompting the need for
reliable and efficient medical gases. Moreover, the expanding geriatric
population, coupled with rising chronic diseases, fuels the demand for oxygen
and other medical gases for treatment purposes. In terms of trends, there's a noticeable
shift towards more eco-friendly and sustainable production methods, aligning
with global environmental initiatives. However, challenges such as stringent
regulatory requirements and the complexity of distribution networks pose
hurdles for market players. Despite these challenges, the market continues to
thrive, offering significant opportunities for growth and innovation.," said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based Global
management consulting firm.
Saudi Arabia
Medical Gases Market by Type (Pure Gases, Gas Mixtures), By Application
(Therapeutic, Diagnostics), By End User (Hospitals & Clinics, Ambulatory
Care Centers, Homecare, Others), By
Region, By Competition Forecast
& Opportunities, 2019-2029F has
evaluated the future growth potential of Saudi Arabia Medical Gases Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide innovative market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Saudi Arabia Medical Gases Market.
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