Medical Gas and Equipment Market

The report "Medical Gas and Equipment Market by Type (Pure Medical Gases/Mixtures), Medical Gas Equipment (Flowmeter, Medical Air Compressor)), Application (Therapeutics (Respiratory), Diagnostics), End User (Hospitals, Home Healthcare) - Global Forecast to 2029", is projected to reach USD 26.44 billion in 2029 from USD 19.90 billion in 2024, at a CAGR of 5.8% between 2024 and 2029.

Browse 394 market data Tables and 60 Figures spread through 380 Pages and in-depth TOC on "Medical Gas and Equipment Market by Type (Pure Medical Gases/Mixtures), Medical Gas Equipment (Flowmeter, Medical Air Compressor)), Application (Therapeutics (Respiratory), Diagnostics), End User (Hospitals, Home Healthcare) - Global Forecast to 2029"
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Medical gas and systems are a network of equipment and devices used to deliver gases across several clinical settings such as hospitals, home care, independent clinics, and ambulatory surgical centers, among others, for treating, diagnosing, or preventing diseases among patients. The growth of the medical gas and equipment market is primarily driven by the increasing prevalence of cardiovascular diseases, rising elderly population, and growing healthcare infrastructure in emerging economies. Furthermore, expanding home healthcare services are fuelling market growth since they require portable and easy-to-use medical gas devices. Moreover, improvements in medical gas delivery systems, monitoring equipment, and safety advancements have made these systems more efficient and safer, encouraging their adoption in hospitals and healthcare facilities, further propelling market growth. However, the high operational costs, and stringent regulations hinder the market growth.

Medical gases segment is expected to account for the largest share, by type in the medical gas and equipment market during the forecast period.

The medical gases segment holds the largest share in the medical gas and equipment market, as most gases, including oxygen, nitrous oxide, carbon dioxide, and nitrogen, find their way into almost all healthcare settings. Oxygen is an important element required in respiratory care therapy, anesthesia, and life support, thus dominating the products under this segment. Nitrous oxide is used for anesthesia and pain management, and carbon dioxide is used for surgeries, like laparoscopy. Moreover, growing cases of chronic respiratory diseases and cardiovascular disorders, along with an aging population, contribute to an increase in demand for medical gases, thereby fuelling the market growth.

Therapeutics application segment is expected to account for the largest share, by application in the medical gas and equipment market during the forecast period.

The therapeutics application segment holds the highest share in the medical gas and equipment market because of large usage of medical gases such as oxygen, nitrous oxide and mixtures of gases in various therapeutic procedures across all health institutions. These gases play a significant role in treating respiratory disorders, providing anesthesia during surgeries and managing chronic diseases such as COPD or asthma. Additionally, this segment holds a high market share due to the increasing number of respiratory diseases, and rising elderly population that require demand for advanced respiratory care at hospitals and homecare settings.

Hospitals and clinics segment is expected to account for the largest share, by end user in the medical gas and equipment market during the forecast period.

The hospitals and clinics segment commands the highest share in the medical gas and equipment market as there is a high and continuous demand for medical gases and relevant equipments in these sectors. Hospitals and clinics require oxygen, nitrous oxide, medical air, and other medical gases for different uses like anesthesia, respiratory therapy as well as surgical procedures. The growing number of patients seeking medical attention, rising incidences of chronic illnesses which need long-term oxygen therapy and surgeries being carried out in such institutions lead to more demand for medical gases and devices. Moreover advanced medical equipment and modern healthcare technologies being applied in hospitals and clinics further enhance the market growth.

In 2023, North America accounted for the largest share of the medical gas and equipment market.

The medical gas and equipment market is segmented into five major regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa, and the GCC Countries.

North America holds the highest share in the medical gas and equipment market due to their advanced healthcare systems, high expenditure on healthcare services, and most importantly, key players that operate in the area. The North American region includes the US which has an exhaustive network made up of hospitals, research institutions together with its aging population that needs medical gases such as oxygen and nitrous oxide among others. Moreover, strict regulations have also contributed to the manufacturing of quality medical instruments and gases because they ensure patient safety. Additionally, there has been an increase in chronic diseases like COPD, and asthma that demand for continuous innovation in gas delivery systems, thereby boosting the market growth.

Key Market Players :

The key players in the global medical gas and equipment market are Air Liquide (France), Linde Plc (Germany), Taiyo Nippon Sanso Corporation (Japan), Air Products and Chemicals Inc. (US), Atlas Copco AB (Sweden), GCE Group (Sweden), Messer SE & Co. KGaA (Germany), SOL Spa (Italy), Rotarex (Europe), Norco Inc. (US), Genstar Technologies (US), Southern Gas Limited (India), Calox Inc. (US), Ellenbarrie Industrial Gases (India), Steelman Gases Pvt. Ltd. (India), Butler Gas Products Company (US), SCI Analytical (US), Amico Group of Companies (US), Oxygen & Argon Works Ltd. (Israel), AOPL (India), Apex Medical Gas Inc. (US), Chengdu Taiyo Industrial Gases Co., Ltd. (China), Carbide and Chemicals (India), Holston Gases (US), and MEC Medical Ltd. (UK).

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