The Impact the Gases Industry Could Have on Homecare
Many people need medical assistance in their homes, and many ailments require the use of gases. Comprised of respiratory services, oxygen therapy, sleep therapy, and ventilation services, homecare is on the rise because people can have the technology delivered right to their doors instead of going to a hospital for treatment.
So what does the future hold for this growing side of the medical market? Gasworld discussed this industry in their October 2015 issue. Keep reading to learn more.
Understanding Homecare and Its Potential for Growth
Homecare is already a trend in today’s health industry, and it’s only going to continue growing. As demographics are rising for people living longer and technology is expanding, people are becoming more willing to be treated at home.
The homecare market seeks to deliver quality, affordable healthcare without becoming too costly. This demand for homecare has caused a spike in the production of portable oxygen concentrators, airway pressure devices, and ancillary equipment.
Two diseases in particular are thought to be an underlying growth potential for the respiratory systems market. Chronic obstructive pulmonary disease (COPD) is predicted to be the world’s third-leading cause of death by 2030, and sleep apnea syndrome affects up to 5% of the global population up to the age of 40.
Companies Active in the Homecare Business
Air Liquide and The Linde Group have built their presence in this industry over the past few years. The Linde Group played a role in the industry when acquiring Florida-based Lincare Holdings Inc. They also acquired the Continental-European homecare business of Air Products.
Air Liquide acquired Spanish home healthcare company Gasmedi, French homecare company LVL Medical Groupe, and most recently Baywater Healthcare Ireland Limited.
The Future for Homecare
Some businesses excel while other businesses don’t do as well. Air Products exited the market in 2012 and said that homecare trends that required concentrators and non-oxygen therapies didn’t align with its gases business. However, Air Liquid and Linde saw an accelerated amount of revenue from the industry.
Currently, patients are receiving the best in healthcare, and technologies are continuously produced to improve the results. Gas companies are finding success in homecare, and this will continue to grow.
Gasworld outlined a report by Transparency Market Research that the global IT-enabled healthcare market is expected to grow at a marked compound annual growth rate of 11.8% from 2014 to 2020. If trends continue at this rate, the homecare business will reap rewards.
About CPV Manufacturing
CPV’s high-quality valves and fittings are also used in the oil and gas industry. In this industry, it’s essential that all products perform properly for efficiency and safety and to minimize risks.
CPV’s innovative designs have become fundamental in the daily functions of gas-filling stations and plants, increasing productivity as well as accuracy.
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