The global medical gas and equipment market is projected to reach an approximate value of USD 29.6 billion by 2028, growing at a CAGR of 7.5%. An increase in prevalence of respiratory disorders, surge in tobacco consumption, and rising prevalence of chronic diseases are factors driving the medical gas and equipment market.
Adroit Market Research report on global medical gas and equipment market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2019 and forecast from 2020 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global medical gas and equipment market have been studied in detail.
Medical gases and equipment are widely used in healthcare settings for medical purposes, research and drug processing. Various types of pure medical gases are used in healthcare facilities such as oxygen, nitrous oxide, carbon dioxide, nitrogen, medical air, helium. Oxygen is the most vital and widely used pure medical gas for life support and respiratory therapies. Increase in prevalence of chronic disorders and road accidents globally is a key factor propelling the growth of the global medical gas and equipment market. Rising incidences of respiratory disorders and surging baby boomer population are other factors for market growth. However, shortage of helium across the globe will hamper the growth of the market 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. 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. 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.
North America dominated the global medical gas and equipment market in 2019. High consumption of medical gas and equipment for the treatment of respiratory diseases across U.S. and Canada is a major factor for its dominant share. Presence of large geriatric population, rising demand for home care are other key factors likely to drive the growth of the market in the future. However, Asia Pacific medical gas and equipment market is anticipated to grow at a rapid pace over the forecast period owing to increase in incidences of respiratory disorders such as COPD, asthma and COVID-19.
Major 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.
Key Segments of the Global Medical Gas and Equipment Market
Product Overview, 2018-2028 (USD Million)
- Medical Gases
- Pure Medical Gases
- Medical Gas Mixtures
- Medical Gas Equipment
- Vacuum Systems/Pumps
- Alarm Systems
- Cylinders & Accessories
- Hose Assemblies & Valve
- Flow Meters
- Medical Air Compressors
End-user Overview, 2018-2028 (USD Million)
- Home Healthcare
- Pharmaceuticals & Biotechnology Companies
- Emergency Services
- Academic & Research Institutes
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa