Healthcare and homecare are a growing market for the gas industry.
As new technology and an aging global population drive increased healthcare expenditure, Stephen Langron, Director of AMS Composite Cylinders, takes a look at some of the opportunities in the sector for medical gas suppliers over the years ahead.
Industry challenges and real opportunity
One of the biggest challenges facing governments and healthcare providers worldwide is the aging population. People are living longer and as a result, there is an increasing demand for healthcare products – including a big increase in the need for respiratory treatments and oxygen therapies.
To cope with this, healthcare spending is increasing across the globe. According to a 2017 report from Deloitte UK, global healthcare expenditure could reach $8.7 billion by 2020, up from $7 billion in 2015.
For industrial gas suppliers, this continued growth makes the healthcare industry look extremely attractive, both over the next 12 months and beyond. In 2018, the European market for medical gas cylinders is expected to reach $615M (Medical Gases and Equipment Market – Global Forecast to 2018 – MarketsandMarkets), with more than 400,000 cylinders in circulation in the UK alone.
Homecare and the move towards DIY Healthcare
Driven by advances in technology and financial pressure, healthcare has been moving towards personalised medicine, DIY healthcare and the homecare model for some time now.
From remote, digital diagnosis and monitoring, to assistive technologies and home therapies – the industry is actively looking to push treatment and health management out of the GP surgeries and hospitals, and back into the home.
This step-change has been opening up some real opportunities in the medical gases sector. Home oxygen therapies, respiratory treatments, sleep therapy and positive airway pressure devices have all driven increased demand for medical gases, and over the next decade, we expect this to continue.
Lightweight composite gas cylinders from AMS
Medical gas cylinder technology has advanced significantly over the past 5 years. Lightweight, non-limited life (NLL), composite cylinders have now entered the market, and will be an integral part of the development of new homecare treatments, portable oxygen therapies and medical gas applications over the coming years.
In the homecare setting, these products provide significant benefits to patients, meeting the end user’s need for a lightweight cylinder that offers significant weight savings over aluminium products.
AMS Composite Cylinders is the exclusive continental European and UK distributor for an advanced range of lightweight, composite gas cylinders that are ideal for a wide range of healthcare, homecare, breathing gas and medical gas applications.
Our high-quality carbon composite cylinders offer high pressure (300 Bar), low weight, and NLL (Non-Limited Life) performance, and are accredited for use worldwide.
Further information about AMS Composite Cylinders Ltd can be found at www.ams-composites.com.
Rob Cockerill, editor at Gasworld magazine, has written an excellent article examining opportunities in the global healthcare sector. You will find the full article here – https://www.gasworld.com/healthcare-an-industry-hot-topic-in-2018/2013998.article.