What Has Been the Growth Trajectory of the Medical Gas And Equipment Market?
The medical gas and equipment market has seen considerable growth due to a variety of factors.
• In recent years, the market size of medical gas and equipment has witnessed substantive expansion. The market, which sat at $21.99 billion in 2024, is predicted to elevate to $23.79 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 8.2%. This previous period of growth is largely due to initiatives in personalized medicine, educational efforts and awareness campaigns, responses to global pandemics, advances in healthcare, and worldwide healthcare trends.
What Can Be Expected from the Medical Gas And Equipment Market?
The Medical Gas And Equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the medical gas and equipment market is predicted to experience fast-paced growth in the coming years, expanding to $35.15 billion in 2029 with a compound annual growth rate (CAGR) of 10.2%.
The forecasted progression can be ascribed to a surge in healthcare spending, an upswing in chronic diseases, the impact of the COVID-19 pandemic, a shift towards home healthcare, and demand from emerging markets. The major trends expected in the forecast period involve cost effectiveness and accessibility, increased awareness and education, personalized treatments, the rise of telemedicine and remote monitoring, with an emphasis on green technology.
What Are the Critical Driver Fuelling The Medical Gas And Equipment Market's Growth?
The rise in respiratory diseases is predicted to fuel the growth of the medical gas and equipment industry. Respiratory conditions involve diseases impacting the lungs and various components of the respiratory system. The growth of these diseases will necessitate the use of medical gases and equipment, promoting the expansion of the market. For instance, the World Health Organization's 2023 Global Tuberculosis Report reveals that the global occurrence of tuberculosis (TB) grew to 10.6 million cases in 2022, demonstrating an incidence rate of 136 cases per 100,000 people, persisting the upward pattern from 2021. This increase confirms the growing presence of respiratory diseases which consequently increases the need for medical gases and equipment crucial for the treatment and monitoring of these diseases.
How Is The Medical Gas And Equipment Market segmented?
The medical gas and equipment market covered in this report is segmented –
1) By Type: Medical Gases, Medical Gas Mixtures, Biological Atmospheres, Medical Gas Equipment
2) By Application: Respiratory, Anesthesia, Medical Imaging, Cryosurgery, Therapeutic, Diagnostic
3) By End-User: Hospitals, Research Institutions, Home Healthcare, Pharmaceutical Industry And Academic, Biotechnology Industry, Emergency Service
Subsegments:
1) By Medical Gases: Oxygen, Nitrous Oxide, Carbon Dioxide, Helium, Nitrogen, Argon, Medical Air
2) By Medical Gas Mixtures: Oxygen-Nitrous Oxide Mixtures, Oxygen-Carbon Dioxide Mixtures, Other Specialty Gas Mixtures
3) By Biological Atmospheres: Anaerobic Atmospheres, Controlled Atmospheres, Refrigerated Atmospheres
4) By Medical Gas Equipment: Regulators, Flow Meters, Manifolds, Gas Cylinders, Pipeline Systems, Safety Systems, Gas Delivery Systems
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What New Trends Are Influencing The Medical Gas And Equipment Market?
The medical gas and equipment market is witnessing a surge in product innovation, a trend that is rapidly gaining traction. In order to consolidate their position, major companies in this market are concentrating on the creation of new technological solutions. For example, in March 2023, Polarean Imaging, a medical drug-device company based out of the US, was granted FDA approval for Xenoview. This is the first and only inhaled MRI contrast agent made from Hyperpolarized Xenon-129 gas. This breakthrough product enhances MRI examinations of pulmonary ventilation for patients aged 12 and above, offering an innovative way to visualize lung function while avoiding the potential threats of ionizing radiation. This marks significant progress in the field of respiratory medicine.
Who Are the Key Players In The Medical Gas And Equipment Market?
Major companies operating in the medical gas and equipment market include:
• Linde PLC
• Praxair Inc.
• Air Liquide S.A.
• Atlas Copco AB
• Messer Group GmbH
• Taiyo Nippon Sanso Corporation
• Gas Control Equipment Ltd.
• Rotarex S.A.
• SOL S.p.A.
• Amico Corporation
• Air Products and Chemicals Inc.
• BeaconMedaes LLC
• Flogas Britain Limited
• Matheson Tri-Gas Inc.
• SCI Analytical Laboratories Inc.
• GCE Holding AB
• Medical Gas Solutions Ltd.
• Ohio Medical Corporation
• Powerex Corp.
• Gentec Corporation
• Cramer Decker Medical Inc.
• PCI Gases
• Precision Medical Inc.
• Bay Corporation
• Amada Marvel Inc.
• BPR Medical
• Calea
• Cryofab Inc.
• EKOM spol. s r.o.
• Far East Gas Co. Ltd.
• Gascon Systems Pty Ltd.
What Is The Most Dominant Region In The Medical Gas And Equipment Market?
North America was the largest region in the medical gas and equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical gas and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
