Medical Gas and Equipment Market

The global medical gas and equipment market is projected to reach USD 26.44 billion by 2029 from USD 19.90 billion in 2024, at a CAGR of 5.8% during the forecast period. Market growth is largely driven by the increasing prevalence of chronic respiratory disorders, the growing geriatric population, and the advancements in medical gas technology such as integration of monitoring devices and automated control systems. However, the stringent regulatory requirements and declining reimbursements for respiratory therapies limit the market growth of medical gas and equipments.

The prominent players in the 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). These players have adopted various growth strategies such as product launches, acquisition, collaboration, agreements, and expansion to increase their presence and reach in the medical gas and equipment market.

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Air Liquide:

Air Liquide is one of the leading supplier of industrial, medical, and specialty gases, technologies, and services. The company operates through three segments, namely, Gas & Services, Engineering & Construction, and Global Markets & Technologies. Air Liquide’s Gas & Services business unit is further classified into different geographical areas of Europe, the Americas, the Asia Pacific, and the Middle East & Africa and into business areas, namely, Large Industries, Industrial Merchant, Healthcare, Electronics, and Engineering. The company offers medical gas products under its healthcare business. It provides pure gases, specialty gases, and research gases, which include cryobiology and hyperbaric oxygen solutions. Moreover, the company is present in 73 countries and serves more than 3.9 million customers and patients.

Linde Plc:

Linde Group is a gas and engineering company that consists of two major product lines, namely, Industrial Gases and Engineering. Linde organizes its industrial gas operations based on geography, comprising three reportable segments, namely, Americas, EMEA (Europe/Middle East/Africa), and APAC (Asia/South Pacific). The company’s Engineering business operates globally and manufactures equipment for air separation and other industrial gas applications tailored for end customers across all geographic segments. The company’s medical gases business is operated through the Industrial Gases division. The company produces, sells, and distributes atmospheric, process, and specialty gases to a different group of industries, including aerospace, chemicals, food, and beverage. The company’s healthcare sector serves a variety of end users, including hospital care, home care, gas therapies, and care concepts. The Linde Group operates across the Americas, the Asia Pacific, the Middle East, and Africa.

Taiyo Nippon Sanso Corporation:

Taiyo Nippon is one of the leading companies in the medical gas and equipment operating through its Matheson Tri-Gas Inc. subsidiary. The company has three business segments, namely, Industrial Gases, Electronics, and Thermos, which are operated & promoted by five reportable segments, namely, Japan, United States, Europe, Asia & Oceania, and Thermos. The company addresses the bulk requirements for gases, for a variety of end users across the aerospace, agriculture, aquaculture, automotive, biofuels, chemical processing, energy, food and beverage, manufacturing, medical and healthcare, metal processing, oil and gas, pharmaceutical and biotechnology, power generation and transmission, semiconductor, universities and research institutes, and welding and fabrication industries. Some of Taiyo Nippon’s major subsidiaries include Matheson Tri-Gas Belgium (SPRL) (Belgium), Continental Carbonic Products, Inc. (US), Taiyo Nippon Sanso Clark, Inc. (Philippines), and Nippon Cutting & Welding Equipment Co., Ltd. (Thailand).

Related Reports:

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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