It’s being expected that by 2029, the Medical Gas and Equipment market cap will hit USD 4,838.15 million at a CAGR growth of about 8%.
.jpg "The Global Medical Gas And Equipment Market 2019-2029 (USD Million)")
Increase in prevalence of chronic diseases worldwide, rise in volume of preterm births, surging cases of respiratory disorders across the globe are key factors driving the global medical gas and equipment market.
Medical gases in the form of pure gases or mixtures of gases are widely used in healthcare facilities across the globe. These are specialized gases used for patients suffering from chronic and respiratory illnesses. Various types of pure medical gases used are oxygen, nitrous oxide, medical air, nitrogen, and carbon dioxide incubators among others. The gas equipment such as cylinders, manifolds, masks, pumps are widely used in healthcare settings for storage and supply of medical gases to patient pool. Increase in respiratory diseases globally, large tobacco consumption, increase in preterm births and large geriatric population pool are some of the key factors expected to drive the global medical gas and equipment market in the next few years. However, shortage of helium across the globe will hamper the market growth in the future.
The global medical gas and equipment market has been segmented based on product, end-user, and region. Based on product, the global medical gas and equipment market is categorized into medical gases and medical gas equipment. Medical gases segment is further sub-divided into pure medical gases and medical gas mixtures. Among the pure medical gases, oxygen segment will witness rapid growth owing to large patient pool suffering from COVID-19, asthma and other respiratory disorders. Based on end-user, home healthcare is anticipated to grow at a lucrative rate over the forecast period. Geographically, North America dominated the global medical gas and equipment market in 2019, however, Asia Pacific is expected to be the fastest growing region by 2028.
Key players operating in the global medical gas and equipment market include The Linde Group, Praxair, Inc., Air Liquide, AIR Products and Chemicals, Inc., Atlas Copco AB, Messer Group GmbH, Ceodeux Meditec, Taiyo Nippon Sanso Corporation (Matheson Tri-Gas Inc.), Gce Holding AB, Rotarex S.A., SOL SPA, Amico Corporation, and Sci Analytical among others.
Medical Gas and Equipment Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2029 |
| Study Period | 2018-2029 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2029 | USD 4,838.15 million |
| Growth Rate | CAGR of 8 % during 2019-2029 |
| Segment Covered | type, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Linde plc, Air Products Inc., Air Liquide, Atlas Copco AB, Messer SE & Co. KGaA, GCE Group, Praxair Technology, Inc., SOL SpA, MATHESON TRI-GAS, INC., Rotarex, Medical Gas Solutions Inc., Amico Group of Companies, BeaconMedaes, DCC plc, TAIYO NIPPON SANSO CORPORATION, Ohio Medical, Airgas, Inc., and Allied Healthcare Products, Inc., among others. |
Key Segments of the Global Medical Gas and Equipment Market
Product Overview (USD Million)
- Medical Gases
- Pure Medical Gases
- Medical Gas Mixtures
- Medical Gas Equipment
- Vacuum Systems/Pumps
- Alarm Systems
- Cylinders & Accessories
- Hose Assemblies & Valve
- Outlets
- Regulators
- Flow Meters
- Masks
- Manifolds
- Medical Air Compressors
End-user Overview (USD Million)
- Hospitals
- Home Healthcare
- Pharmaceuticals & Biotechnology Companies
- Emergency Services
- Academic & Research Institutes
Regional Overview (USD Million)
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Reasons for the study
- Increase in prevalence of chronic disorders and road accidents
- Rising incidences of respiratory disorders such as COVID-19
- Growing geriatric population worldwide
- Rising demand for home healthcare
What does the report include?
- The study on the global medical gas and equipment market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s Five Forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product, and end-user. Moreover, the study on medical gas and equipment market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global medical gas and equipment market is suitable for all the players across the value chain including raw material suppliers, hospitals, ambulatory surgical centers, medical device manufacturers, healthcare organizations, distributors, suppliers and technology geeks
- Venture capitalists and investors looking for more information on the future outlook of the global medical gas and equipment market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global medical gas and equipment market
Frequently Asked Questions (FAQ) :
To get latest version of medical gas and equipment market report can be obtained on demand from the website.
To get latest version of medical gas and equipment market report can be obtained on demand from the website.
The major contenders in the global market are Linde plc, Air Products Inc., Air Liquide, Atlas Copco AB, Messer SE & Co. KGaA, GCE Group, Praxair Technology, Inc., SOL SpA, MATHESON TRI-GAS, INC., Rotarex, Medical Gas Solutions Inc., Amico Group of Companies, BeaconMedaes, DCC plc, TAIYO NIPPON SANSO CORPORATION, Ohio Medical, Airgas, Inc., and Allied Healthcare Products, Inc., among others.
The major contenders in the global market are Linde plc, Air Products Inc., Air Liquide, Atlas Copco AB, Messer SE & Co. KGaA, GCE Group, Praxair Technology, Inc., SOL SpA, MATHESON TRI-GAS, INC., Rotarex, Medical Gas Solutions Inc., Amico Group of Companies, BeaconMedaes, DCC plc, TAIYO NIPPON SANSO CORPORATION, Ohio Medical, Airgas, Inc., and Allied Healthcare Products, Inc., among others.
The medical gas and equipment market is growing at a CAGR of 8 % over the forecast period.
The medical gas and equipment market is growing at a CAGR of 8 % over the forecast period.
Medical gases form a critical component of various long-term care treatments for several chronic conditions such as cancer, cardiovascular diseases, and chronic respiratory diseases. Thus, the rising prevalence of lifestyle diseases is expected to play a pivotal role in the growth of the medical gases and equipment market in the coming years. Moreover, increase in burden of COVID-19 pandemic across the globe has further stimulated the demand for medical gas and equipment. Large patient pool suffering from COVID-19 and asthma augment the demand for medical gas equipment such as oxygen cylinders and concentrators. Thus, growing incidences of respiratory disorders is expected to offer immense growth opportunities for industry players in the future. Moreover, there are numerous domestic and international industry players offering wide range of medical gas and equipment which will further boost market expansion in the coming few years. Industry players are focused on developing lightweight and portable medical gas equipment. For instance, GCE Healthcare launched the GCE Healthcare wide range of products such as GCE portable oxygen concentrators, oxygen regulators, high purity gas control products and oxygen conserving devices which will foster growth of the market.
The global medical gas and equipment market has been segmented based on product, end-user and region. Based on product, the global medical gas and equipment market is categorized into medical gases and medical gas equipment. Medical gases segment is further sub-divided into pure medical gases and medical gas mixtures. Pure medical gases segment will witness significant growth in the coming years. Oxygen is a major medical gas required for all anesthetic techniques and is supplied to all the patients in ICUs for life support. Medical gas equipment segment is further categorized into vacuum systems/pumps, alarm systems, cylinders & accessories, hose assemblies & valve, outlets, regulators, flow meters, masks, manifolds, and medical air compressors. Medical cylinders and accessories segment will witness high growth in the coming few years owing to increase in demand from patient suffering with respiratory disorders such as asthma and COVID-19.
On the basis of end-user, the global medical gas and equipment market is categorized into hospitals, home healthcare, pharmaceuticals & biotechnology companies, emergency services, academic & research institutes. Hospitals segment accounted for dominant share of the market in 2019 owing to presence of large patient pool, large volume of surgeries performed, and high consumption of medical gases in the management of respiratory diseases, such as COPD, asthma and COVID-19.
The global medical gas and equipment market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global medical gas and equipment market in 2019, however Asia Pacific is expected to grow at a highest pace through 2028.
Increase in incidence of chronic ailments, availability of funding to purchase advanced medical technologies for hospitals along with rapidly growing geriatric population suffering from chronic respiratory illnesses such as COPD, COVID-19 and asthma will drive the growth of medical gas and equipment market. Furthermore, growing demand for home healthcare, well-established healthcare infrastructure, and presence of key industry players are other major factors likely to boost the growth of the market in North America.
However, Asia Pacific is expected to grow at a rapid pace over the next few years. There is a strong growth potential in the emerging economies such as India, and China. Presence of large patient pool in countries such as India and China suffering from respiratory disorders such as COVID-19, asthma will provide large market for medical gas and equipment. High per capita income along with rapidly improving healthcare infrastructure will further augment growth of medical gas and equipment market.