Medical Gases and Equipment Market Analysis and Forecast to 2031: By Product Type (Medical Gases, Medical Gas Mixture, Biological Atmospheres, Medical Gas Equipment), End User (Clinics, Hospitals, Research Institutions, Home Healthcare, Pharmaceutical Industry, Biotechnology Industry), and Region

The global medical gases and equipment market was valued at USD 6.5 billion in 2021 and it is anticipated to grow further till USD 13.0 billion by 2031, at a CAGR of 7.2% during the forecast period.

Medical gases are specialized gases used in biotechnology research, drug production, and medical applications. A single pure gas or a combination of several gases can be used as a medical gas. Oxygen, ammonia, hydrogen, nitrous oxide, nitrogen, and carbon dioxide are the most frequently used gases. Gas is stored and delivered via gas delivery equipment, such as cylinders and masks. The market for medical gases and equipment has large growth potential because of the growing elderly population and advancements in the pharmaceutical sector.

Global Medical Gases and Equipment Market Scope and Report Structure
Report AttributeDetails
Market Size in 2021US$ 6.5 Billion
Market Size in 2031US$ 13.0 Billion
CAGR %7.2%
Historic Period2015-2020
Forecast Period2022-2031
Base Year2021
Segments CoveredProduct, End User, and Region
Key CompaniesAir Liquide, Air Products and Chemicals Inc., Amico Group of Companies, Atlas Copco, BeaconMedaes, the Linde Group, Flogas, Messer Group GmbH, Matheson Tri-Gas Inc., and Taiyo Nippon Sanso Corporation among others.
Regional ScopeNorth America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis CoverageMarket Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments
Market Trends and Drivers

The need for medical gases and equipment, which are a vital component of the hospital sector, has significantly increased as hospitals spread across the globe. To provide therapy to patients needing critical care, a variety of medical equipment, including flowmeters, cryogenic goods, regulators, medical air compressors, and others, is frequently needed. As a result, this equipment is standard in hospitals’ intensive care units (ICUs) and operating rooms (OTs). Additionally, the industry is expanding due to the increasing government expenditure in healthcare. For instance, India’s healthcare industry is growing quickly, especially now that the government has permitted foreign direct investment (FDI) in the field.

Market Restraints and Challenges

The stringent regulatory process coupled with limited healthcare reimbursement is anticipated to hinder the growth of the market during the forecast period.

Global Medical Gases and Equipment Market Segmental Overview

The global medical gases and equipment market is segmented into product type, end user, and region.

Global Medical Gases and Equipment Market by Product Type

Based on the product type, it is segmented into medical gases, medical gas mixtures, biological atmospheres, and medical gas equipment. The medical gas segment is anticipated to dominate the market during the forecast period. The Centers for Disease Control and Prevention (CDC) estimate that between 2014 and 2015, heart illnesses cost US $219 billion annually. This included money spent on prescription drugs, medical services, and lost productivity due to mortality. Rising investment in effective cardiovascular disease treatment is anticipated to be positive for the medical gas market segment.

Global Medical Gases and Equipment Market by End User

Based on the end user, it is segmented into clinics, hospitals, research institutions, home healthcare, the pharmaceutical industry, and biotechnology industry. The hospital segment is anticipated to dominate the market during the forecast period. The increasing count of geriatric population and advancements in the pharmaceutical industry is boosting the growth of the market.

Geographical Analysis of the Global Medical Gases and Equipment Market

Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. Backed by the presence of well-established healthcare and pharmaceutical sectors, growth witnessed in North America is poised to surge considerably in the upcoming year.

Major Players in the Global Medical Gases and Equipment Market

The key players studied in the report are Air Liquide, Air Products and Chemicals Inc., Amico Group of Companies, Atlas Copco, BeaconMedaes, the Linde Group, Flogas, Messer Group GmbH, Matheson Tri-Gas Inc., and Taiyo Nippon Sanso Corporation among others.

COVID-19 Impact

Manufacturing activity were slowed down earlier this year by the COVID-19 pandemic because of the prolonged lockdown that was followed by an economic catastrophe. The pandemic, on the other hand, has led to an increase in patients in the diagnostics, hospital, and emergency services sectors, which has led to a rise in demand for medical gases and equipment. The post-pandemic awareness among the populace is anticipated to fuel the medical gases and equipment market’s smoother rise as the world begins to recover from pandemic-related constraints and obstacles.

Recent Developments
  • February 2022, Gasworld launched a brand-new event for the medical gases community, in the name of more connected and equitable healthcare sector for all.
  • June 2021, GE Healthcare has launched a brand-new design for high pressure gas regulator called MediTec. The MediTec regulator, which can provide up to 25 lpm, can be used for both resuscitation and cluster headache treatment.
Frequently Asked Questions

Q1. How big is the Medical Gases and Equipment market?

Ans. The global Medical Gases and Equipment market size was USD 6.5 billion in 2021 and it is anticipated to grow further till USD 13.0 billion by 2031, at a CAGR of 7.2% from 2022 to 2031.

Q2. What is the Medical Gases and Equipment market growth rate?

Ans. The growth rate of the Medical Gases and Equipment market is 7.2%.

Q3. Which region holds a major market share for the Medical Gases and Equipment market?

Ans. North America holds a major market share of the Medical Gases and Equipment market in 2021.

Q4. Which segment accounted for the largest Medical Gases and Equipment market share?

Ans. By end user, the hospitals segment accounted for the largest Medical Gases and Equipment market share.

Q5. Who are the key players in the Medical Gases and Equipment market?

Ans. The global Medical Gases and Equipment market report includes players such as Air Liquide, Air Products and Chemicals Inc., Amico Group of Companies, Atlas Copco, BeaconMedaes, the Linde Group, Flogas, Messer Group GmbH, Matheson Tri-Gas Inc., and Taiyo Nippon Sanso Corporationamong others.

Q6. What are the factors driving the Medical Gases and Equipment market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Medical Gases and Equipment market players?

Ans. The key growth strategies of Medical Gases and Equipment market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Medical Gases and Equipment market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Medical Gases and Equipment market during the forecast period.

Table of Contents

Chapter 1. Medical Gases and Equipment Market Overview
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Limitations
1.4. Research Methodologies
1.4.1. Secondary Research
1.4.2. Market Size Estimation Technique
1.4.3. Forecasting
1.4.4. Primary Research and Data Validation

Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market

Chapter 3. Premium Insights on the Market
3.1. Market Attractiveness Analysis, by Region
3.2. Market Attractiveness Analysis, by Product Type
3.3. Market Attractiveness Analysis, by End User

Chapter 4. Medical Gases and Equipment Market Outlook
4.1. Medical Gases and Equipment Market Segmentation
4.2. Market Dynamics
4.2.1. Market Drivers
4.2.1.1. Driver 1
4.2.1.2. Driver 2
4.2.1.3. Driver 3
4.2.2. Market Restraints
4.2.2.1. Restraint 1
4.2.2.2. Restraint 2
4.2.3. Market Opportunities
4.2.3.1. Opportunity 1
4.2.3.2. Opportunity 2
4.3. Porter’s Five Forces Analysis
4.3.1. Threat of New Entrants
4.3.2. Threat of Substitutes
4.3.3. Bargaining Power of Buyers
4.3.4. Bargaining Power of Supplier
4.3.5. Competitive Rivalry
4.4. PESTLE Analysis
4.5. Value Chain Analysis
4.5.1. Raw Product Suppliers
4.5.2. Manufacturers
4.5.3. Wholesalers and/or Retailers
4.6. Impact of COVID-19 on the Medical Gases and Equipment Market
4.7. Impact of the Russia and Ukraine War on the Medical Gases and Equipment Market

Chapter 5. Medical Gases and Equipment Market, by Product Type
5.1. Market Overview
5.2. Medical Gases
5.2.1. Key Market Trends & Opportunity Analysis
5.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.3. Medical Gas Mixtures
5.3.1. Key Market Trends & Opportunity Analysis
5.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.4. Biological Atmosphere
5.4.1. Key Market Trends & Opportunity Analysis
5.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.5. Medical Gas Equipment
5.5.1. Key Market Trends & Opportunity Analysis
5.5.2. Market Size and Forecast, by Region, 2021-2031 ($Million)

Chapter 6. Medical Gases and Equipment Market, by End User
6.1. Market Overview
6.2. Clinics
6.2.1. Key Market Trends & Opportunity Analysis
6.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.3. Hospitals
6.3.1. Key Market Trends & Opportunity Analysis
6.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.4. Research Institutions
6.4.1. Key Market Trends & Opportunity Analysis
6.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.5. Home Healthcare
6.5.1. Key Market Trends & Opportunity Analysis
6.5.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.6. Pharmaceutical Industry
6.6.1. Key Market Trends & Opportunity Analysis
6.6.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.7. Biotechnology Industry
6.7.1. Key Market Trends & Opportunity Analysis
6.7.2. Market Size and Forecast, by Region, 2021-2031 ($Million)

Chapter 7. Medical Gases and Equipment Market, by Region
7.1. Overview
7.2. North America
7.2.1. Key Market Trends & Opportunity Analysis
7.2.2. North America Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.2.3. North America Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.2.4. North America Medical Gases and Equipment Market Size and Forecast by Country, 2021-2031, ($Million)
7.2.5. The U.S.
7.2.5.1. The U.S. Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.2.5.2. The U.S. Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.2.6. Canada
7.2.6.1. Canada Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.2.6.2. Canada Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.2.7. Mexico
7.2.7.1. Mexico Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.2.7.2. Mexico Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.3. Europe
7.3.1. Key Market Trends & Opportunity Analysis
7.3.2. Europe Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.3.3. Europe Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.3.4. Europe Medical Gases and Equipment Market Size and Forecast by Country, 2021-2031, ($Million)
7.3.5. Germany
7.3.5.1. Germany Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.3.5.2. Germany Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.3.6. France
7.3.6.1. France Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.3.6.2. France Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.3.7. U.K.
7.3.7.1. U.K. Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.3.7.2. U.K. Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.3.8. Spain
7.3.8.1. Spain Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.3.8.2. Spain Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.3.9. Italy
7.3.9.1. Italy Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.3.9.2. Italy Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.3.10. Rest of Europe
7.3.10.1. Rest of Europe Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.3.10.2. Rest of Europe Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.4. Asia-Pacific
7.4.1. Key Market Trends & Opportunity Analysis
7.4.2. Asia-Pacific Medical Gases and Equipment Market Size and Forecast by Country, 2021-2031, ($Million)
7.4.3. Asia-Pacific Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.4.4. Asia-Pacific Medical Gases and Equipment Market Size and Forecast by Product, 2021-2031, ($Million)
7.4.5. China
7.4.5.1. China Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.4.5.2. China Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.4.6. India
7.4.6.1. India Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.4.6.2. India Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.4.7. Japan
7.4.7.1. Japan Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.4.7.2. Japan Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.4.8. South Korea
7.4.8.1. South Korea Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.4.8.2. South Korea Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.4.9. Rest of APAC
7.4.9.1. Rest of APAC Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.4.9.2. Rest of APAC Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.5. Rest of the World
7.5.1. Key Market Trends & Opportunity Analysis
7.5.2. Rest of the World Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.5.3. Rest of the World Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.5.4. Rest of the World Medical Gases and Equipment Market Size and Forecast by Country, 2021-2031, ($Million)
7.5.5. Latin America
7.5.5.1. Latin America Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.5.5.2. Latin America Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.5.6. Middle East
7.5.6.1. Middle East Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.5.6.2. Middle East Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)
7.5.7. Africa
7.5.7.1. Africa Medical Gases and Equipment Market Size and Forecast by Product Type, 2021-2031, ($Million)
7.5.7.2. Africa Medical Gases and Equipment Market Size and Forecast by End User, 2021-2031, ($Million)

Chapter 8. Competitive Landscape
8.1. Market Overview
8.2. Market Share Analysis/Key Player Positioning
8.3. Vendor Benchmarking
8.4. Developmental Strategy Benchmarking
8.4.1. New Product Development
8.4.2. Product Launches
8.4.3. Business Expansions
8.4.4. Partnerships, Joint Ventures, and Collaborations
8.4.5. Mergers and Acquisitions

Chapter 9. Company Profiles
9.1. Air Liquide
9.1.1. Company Snapshot
9.1.2. Financial Performance
9.1.3. Product Offerings
9.1.4. Key Strategic Initiatives
9.1.5. SWOT Analysis
9.2. Air Products and Chemicals Inc.
9.2.1. Company Snapshot
9.2.2. Financial Performance
9.2.3. Product offerings
9.2.4. Key Strategic Initiatives
9.2.5. SWOT Analysis
9.3. Amico Group of Companies
9.3.1. Company Snapshot
9.3.2. Financial Performance
9.3.3. Product offerings
9.3.4. Key Strategic Initiatives
9.3.5. SWOT Analysis
9.4. Atlas Copco
9.4.1. Company Snapshot
9.4.2. Financial Performance
9.4.3. Product offerings
9.4.4. Key Strategic Initiatives
9.4.5. SWOT Analysis
9.5. BeaconMedaes
9.5.1. Company Snapshot
9.5.2. Financial Performance
9.5.3. Product offerings
9.5.4. Key Strategic Initiatives
9.5.5. SWOT Analysis
9.6. The Linde Group
9.6.1. Company Snapshot
9.6.2. Financial Performance
9.6.3. Product offerings
9.6.4. Key Strategic Initiatives
9.6.5. SWOT Analysis
9.7. Flogas
9.7.1. Company Snapshot
9.7.2. Financial Performance
9.7.3. Product offerings
9.7.4. Key Strategic Initiatives
9.7.5. SWOT Analysis
9.8. Messer Group GmbH
9.8.1. Company Snapshot
9.8.2. Financial Performance
9.8.3. Product offerings
9.8.4. Key Strategic Initiatives
9.8.5. SWOT Analysis
9.9. Matheson Tri-Gas Inc.
9.9.1. Company Snapshot
9.9.2. Financial Performance
9.9.3. Product offerings
9.9.4. Key Strategic Initiatives
9.9.5. SWOT Analysis
9.10. Taiyo Nippon Sanso Corporation
9.10.1. Company Snapshot
9.10.2. Financial Performance
9.10.3. Product offerings
9.10.4. Key Strategic Initiatives
9.10.5. SWOT Analysis

*The list of company is subject to change during the final compilation of the report

Global Medical Gases and Equipment Market Segmentation

By Product Type

  • Medical Gases
  • Medical Gas Mixtures
  • Biological Atmosphere
  • Medical Gas Equipment

By End User

  • Clinics
  • Hospitals
  • Research Institutions
  • Home Healthcare
  • Pharmaceutical Industry
  • Biotechnology Industry

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • The Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

 

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