Market Overview

The Medical Gas Equipment Market size was valued at around 18.81 Billion in 2023 and is expected to reach a value of USD 31.24 Billion by 2032, at a CAGR of 6% over the forecast period (2024–2032).

Another factor that is behind the increase in the demand for medical gases and their delivery in healthcare settings is the increase in the number of hospitals opened worldwide, thus boosting the demand for Medical Gas Equipment-anesthesia, respiratory care, and diagnostic medical treatment dependent on such gases-including carbon dioxide, nitrogen, oxygen, and nitrous oxide. Medical Gas Equipment constitutes a broad bud of good intended for the delivery, administration, and storage of these gases to patients. It covers the whole gamut, from cylinders, regulators, manifolds, vacuum systems, and pipes for safe and effective delivery in medical facilities-clinics, hospitals, and homes.

Population aging, rising cases of chronic respiratory diseases, and the growth of healthcare infrastructure in developing countries are the key factors driving the growth of the market. Advancements in medical science, gas delivery systems have become widely used in critical care settings, such as operating theaters and intensive care units. Improvements in medical gas monitoring systems also minimize the risks associated with their improper use by ensuring the safe and accurate distribution of gases.

Manufacturers therefore spend for adherence to stringent healthcare rules and standards on Medical Gas Equipment product quality and safety to ensure reliability and safety in use, further stimulating the market. Demand for portable and usable Medical Gas Equipment also stems largely from the continued advancement of home healthcare services. Therefore, with time, the global market for Medical Gas Equipment is expected to grow steadily as the healthcare industry matures while being driven by technology advancements and an ever-growing need for efficient medical gas management systems.

Market Drivers

Rising Prevalence of Respiratory Diseases

• Major driving forces within the Medical Gas Equipment Market include the increasing incidences of respiratory ailments such as asthma, COPD and pneumonia. As has been well documented, there are associations between aging populations, worsening environmental conditions, the consequent increase in health conditions affecting breathing, and hence, rising demand for oxygen and other medical gases. Consequently, hospitals and home care services are augmenting their investments in Medical Gas Equipment to provide lifesaving therapies for patients suffering from chronic respiratory diseases, enhancing growth even further for this market.

Key Findings:

The Forum of International Respiratory Societies (FIRS) Global Impact of Respiratory Disease report shows the immense burden of these lung diseases:

• An estimated 200 million people have COPD, of which about 3.2 million die each year, making it the third-leading cause of death worldwide.
• Asthma is one of the commonest non-communicable diseases globally affecting 262 million people.
• With more than 2.2 million new cases of lung cancer in 2020 and 1.80 million deaths, globally, lung cancer is responsible for 1 in 4 cancer deaths.
• Lower respiratory tract infection or pneumonia is a leading cause of mortality, accounting for more than 2.4 million deaths every year, particularly among those in LMICs. COVID-19 has dramatically increased deaths from pneumonia globally.
• In children under 5 years of age, pneumonia is the leading single cause of death outside the neonatal period.
• TB is a major burden with the World Health Organization’s annual global report finding that TB deaths have risen for the first time in more than a decade due to the COVID pandemic.

Growing Demand for Surgical Procedures

• As it expands, surgery volumes are increasing globally. Therefore, with the advancement of medical technology and surgical techniques, more elective or emergency surgeries are being conducted, which often require medical gases, such as oxygen and nitrous oxide. This increasing number of surgeries, especially in developing countries, where people have more access to healthcare, directly boosts the demand for effective and reliable medical gas systems.

Market Opportunities

Adoption of Home Healthcare Solutions

• Major opportunity for manufacturers of Medical Gas Equipment due to the increase in home healthcare services. With more people receiving treatment within the confines of their homes, the call for portable, consumer-friendly gas supply systems has become noisier and noisier. It is the trend that would compel the organization to manufacture smaller and more improved devices because a growing market these days are for home-based respiratory and medical gas therapies.

Advancements in Gas Monitoring Systems

• Provision of opportunities for growth in the market is in the area of development of sophisticated medical gas monitoring systems. Ensuring that gases are delivered accurately and securely results in fewer accidents and increased safety for patients. Innovations in monitoring gases will, thus, provide opportunities to manufacturers to develop advanced and safe products that will strike consumer interest in an industry focused on user-centric solutions.

Market Restraining Factors

High Maintenance and Operational Costs

• The major restraint in the Medical Gas Equipment Market is the cost incurred in the high maintenance and operations of these systems. They require checking, servicing, and compliance with strict regulations under which the Medical Gas Equipment operates for optimal performance. This raises ongoing costs for the healthcare facilities. This is especially so in the case of smaller hospitals and smaller budgets. Such exorbitant costs can inhibit the use of advanced Medical Gas Equipment in a limited number of areas, mostly regions where budgets for healthcare are restrained.

Segmentation Analysis

The market scope is segmented because of by Product, by End-use.

By Product

Based on the Product of the market is segmented into Masks, Outlets, Manifolds, Regulators, Flowmeters, Alarm Systems, Vacuum Systems/Pumps, Medical Air Compressors, Cylinders and Accessories, Hose Assemblies and Valves.

Traditionally, cylinders and accessories have accounted for a major chunk of the Medical Gas Equipment Market within its various product segments. The domination of this segment can, however, be traced to several reasons. Medical gas cylinders, such as oxygen, nitrous oxide, and compressed air, are widely used in hospitals and clinics for storing and transporting critical gases in homecare. This gas cylinder is used in emergencies, anaesthesia, respiratory support, and long-term oxygen therapy for chronic respiratory patients.

The prevalent use of cylinders therefore can be seen in both institutional and home healthcare settings. Rising incidences of respiratory diseases, an aging populace, and increasing surgeries worldwide also contribute to consumer demand. Medical gas cylinders thus come in handy for emergency situations or remote places where a centralized system of gas supply is not functional, making them irreplaceable in the healthcare system.

By End-use

Based on the End-use of the market is segmented into Hospitals, Ambulatory Surgical Centers, Home Healthcare, Pharmaceutical and Biotechnology Companies, Diagnostic and Research Laboratories, Academic and Research Institutions.

Transportable substances such as portable oxygen cylinders needed in hospitals are primarily based for users who consume more medical gas. The outpatient department, critical care unit, and emergency department all use these gases. Hospital carries out a considerable number of procedures that require the use of medical gases for anesthesia purposes, respiratory therapies, and life support systems. This makes them the largest consumers of Medical Gas Equipment the demand for such equipment, including centralized medical gas systems, involves constant maintenance and upgrading of the equipment such as cylinders, regulators, manifolds, and monitoring systems. There is also an increase in the demand for good, reliable and continuous gaseous access for critical care patients as well as advancements in gas equipment in hospitals. The rising number of chronic respiratory diseases and surgical procedures carried out globally are other factors that contribute to the great consumption of medical gases from hospitals.

 By Regional Snapshots

The markets by regions North America, Europe, Asia-Pacific, Latin America, and MEA are provided in the study. North America has been the traditional leader globally in the Medical Gas Equipment Market, mainly attributed to the sophistication of the healthcare infrastructure, high health spending, and extensive adoption of advanced technologies in medicine. The US especially is one significant contributor to this dominance. The country boasts a wide array of hospitals, ambulatory surgical centers, and home-care outreach services that mainly use medical gases in treating various ailments. The growing incidence of chronic respiratory diseases, including COPD and asthma, and the increasing aged population have further stimulated the consumption of Medical Gas Equipment in this region. Stringent healthcare regulations for patient safety and quality standards have led to more investment in medical gas systems, hence making North America the most robust contender in the market. On the contrary, Asia-Pacific is probably the fastest-growing region in the field of Medical Gas Equipment. Countries in this region tend to boost their growth due to investments toward developing health infrastructures, improved literacy regarding safeguarding with medical gases usage, new advances in health services, and increased demands in fast-growing developing countries like China and India. Higher incidents of respiratory diseases and increasing medical tourism, along with government awareness campaigns for raising health access in rural areas, are also affecting the growth of this region. Large populations, improving health facilities in the region, and a growing middle class demanding quality medical care make Asia-Pacific part of the focus for future market expansion.

List of Companies Profiled

• Air Liquide S.A.
• Atlas Copco Group
• Amico Group of Companies
• Allied Healthcare Products Inc.
• Colfax Corporation
• Silbermann Medical Gas Systems
• Linde plc
• Tenex Capital Management
• Precision UK
• GENTEC (Shanghai) Corporation
• Rotarex S.A.
• Taiyo Nippon Sanso Corporation
• Drägerwerk AG & Co. KGaA

Key Industry Developments

• In October 2024, Linde announced that it has signed agreements to de-captivate two air separation units (ASUs) and expand its existing supply of industrial gases to Tata Steel Limited in Odisha, India.
• In March 2023, Atlas Copco has acquired the operating assets of FS Medical Technology Business (FS Medical), based in California, USA. The business services, sells, verifies, and tests piped medical and laboratory gas equipment and systems.

Report Coverage

The report will cover the qualitative and quantitative data on the global Medical Gas Equipment Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Global Medical Gas Equipment Market Regional Analysis

North America accounted for the highest xx% market share in terms of revenue in the Medical Gas Equipment market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Medical Gas Equipment. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Medical Gas Equipment companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Medical Gas Equipment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Medical Gas Equipment Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Reasons to Purchase

• To gain insightful analyses of the Medical Gas Equipment market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the Medical Gas Equipment market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the Medical Gas Equipment market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of Medical Gas Equipment Market

• Historic year: 2019-2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Medical Gas Equipment Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: