Latin American gases and equipment market may reach USD 1.8 billion by 2020
According to a report published by Markets and Markets, the Latin American medical gases and equipment market is expected to reach USD 1.8 billion by 2020 at a CAGR of 10.2% over 2015-2020. Among all segments of this market, the hospitals end user segment accounted for the largest share of around 75% to 80% in 2014, mainly attributed to the financial capabilities of hospitals to buy expensive instruments, availability of skilled professionals, and wide use of medical gases and equipment in hospitals for a variety of applications including resuscitation, surgery, medicinal bath, anesthesia, ventilation & aerosol therapies. Brazil led the market in 2014 by capturing the largest share followed by Mexico. However, Mexico is expected to be the fastest-growing country over the forecast period, due to its rapidly aging population, growing pharmaceutical industry, and growing prevalence of lifestyle diseases. The major players of consolidated Latin American medical gases and equipment market include The Linde Group, Air Liquide, Air Products and Chemicals, Praxair, Atlas Copco, and Taiyo Nippon Sanso.