Medical Gases and Equipment Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Medical Gases and Equipment Industry Prospective:

The medical gases and equipment market size was worth around USD 15.76 Million in 2023 and is predicted to grow to around USD 31.07 Million by 2032 with a compound annual growth rate (CAGR) of roughly 7.83% between 2024 and 2032.

The report covers a forecast and an analysis of the medical gases and equipment market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes drivers and restraints of the medical gases and equipment market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the medical gases and equipment market on a global as well as regional level.

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In order to give the users of this report a comprehensive view of the medical gases and equipment market, we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Medical Gases and Equipment Market: Overview

Medical gases and equipment refer to the various gases and associated devices used in healthcare settings for patient care and medical procedures. Medical gases, such as oxygen, nitrous oxide, medical air, and carbon dioxide, are essential for anesthesia, respiratory therapy, and other critical treatments. These gases are delivered through specialized equipment, including cylinders, regulators, flowmeters, and medical gas pipelines, to ensure precise and safe administration to patients. The equipment ensures the proper storage, control, and delivery of these gases, playing a crucial role in supporting respiratory function, pain management, and various diagnostic and therapeutic procedures in hospitals, clinics, and emergency settings.

The report provides company market share analysis to give a broader overview of the key players in the medical gases and equipment market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the medical gases and equipment market on a global and regional basis.

Medical Gases and Equipment Market: Growth Factors

The increasing global geriatric population base and various technological advancements in the pharmaceutical industry are driving the medical gases and equipment market globally. The increasing prevalence of disease like asthma and COPD and growing home healthcare facilities are also contributing to the medical gases and equipment market growth. However, stringent regulatory guidelines may restrain the medical gases and equipment market growth on a global level. Alternatively, emerging countries of the Asia Pacific and advancements witnessed in the global healthcare industry will boost the medical gases and equipment market in the future.

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Medical Gases and Equipment Market: Segmentation

The study provides a decisive view of the medical gases and equipment market by segmenting it based on application, product, end-user, and region.

Based on product, the market includes medical gases (medical gases mixtures and pure medical gases) and medical equipment (compressors, cylinders, hose assemblies and valves, manifolds, masks, vacuum systems, and others). Pure medical gases are sub-segmented into oxygen, nitrous oxide, nitrogen, carbon dioxide, helium, and others.

Medical gas mixtures include carbon dioxide and oxygen mixture, helium and oxygen mixture, nitrous oxide and oxygen mixture, and other medical gas mixtures. Medical gases contributed the largest revenue share in the market in 2023, due to the growing use of gases in the diagnosis and treatment of various respiratory diseases and CVDs.

By application, the medical gases and equipment market includes pharmaceutical manufacturing and research, diagnostic, and therapeutic.

The end-user segment comprises hospitals and home healthcare. Hospitals are expected to witness significant revenue growth in the future.

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Medical Gases and Equipment Market: Report Scope

Medical Gases and Equipment Market: Regional Insights

North America dominated the medical gases and equipment market globally in 2023, due to the increasing use of medical gases and equipment for disease diagnosis and treatment, a growing number of homecare facilities, and rising incidences of respiratory diseases. The Asia Pacific medical gases and equipment market is an emerging region, due to the increasing cases of asthma and other chronic diseases, growing investments in healthcare services, and the region’s flourishing pharmaceutical industry.

Medical Gases and Equipment Market: Competitive Space

Some key players operating in the medical gases and equipment market globally are

• Linde Group
• Air Liquide
• Air Products and Chemicals
• Praxair
• Taiyo Nippon Sanso
• Atlas Copco
• GCE Holding
• Messer Group
• SOL
• Rotarex
• SCI Analytical
• Amico Corporation.
• Among Others

This report segments the global medical gases and equipment market into:

Global Medical Gases And Equipment Market: By Product

• Medical Gases
• Medical Gases Mixtures
• Carbon Dioxide and Oxygen Mixture
• Helium and Oxygen Mixture
• Nitrous Oxide and Oxygen Mixture
• Other Medical Gas Mixtures
• Pure Medical Gases
• Oxygen Gas
• Nitrous Oxide Gas
• Nitrogen Gas
• Carbon Dioxide Gas
• Helium Gas
• Others
• Medical Gas Equipment
• Compressors
• Cylinders
• Hose Assemblies and Valves
• Manifolds
• Masks
• Vacuum Systems
• Others

Global Medical Gases And Equipment Market: By Application

• Diagnostic
• Therapeutic
• Respiratory Therapies
• Therapies
• Anesthesia Delivery
• Cardiovascular Therapies
• Others
• Pharmaceutical Manufacturing and Research

Global Medical Gases And Equipment Market: By End-User

• Home Healthcare
• Hospitals

Global Medical Gases And Equipment Market: By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa