Research and Markets - Global Specialty Gases Market for Healthcare Industry to Grow at a CAGR of 7% by 2021 - Key Vendors are Air Liquide, Air Products and Chemicals, Linde Group, Messer Group & Praxair Technology
The global specialty gases market for healthcare industry to grow at a CAGR of 7.46% during the period 2017-2021.
The report, Global Specialty Gases market for Healthcare Industry 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.