Medical Gas & Equipment Market by Product (Medical Gas Equipments, Medical Gas Mixtures, Medical Pure Gas), Form of Delivery (Bulk Delivery, High-Pressure Cylinders, Liquid Tanks), Application, End Use - Global Forecast 2024-2030

Medical Gas & Equipment Market by Product (Medical Gas Equipments, Medical Gas Mixtures, Medical Pure Gas), Form of Delivery (Bulk Delivery, High-Pressure Cylinders, Liquid Tanks), Application, End Use - Global Forecast 2024-2030

The Medical Gas & Equipment Market size was estimated at USD 20.81 billion in 2023 and expected to reach USD 22.51 billion in 2024, at a CAGR 8.26% to reach USD 36.28 billion by 2030.

Medical gas & equipment comprise a vital part of the healthcare infrastructure, facilitating diagnostic, therapeutic, and life-support functions in various settings. These gases, including oxygen, nitrous oxide, medical air, and several others, are used in operating rooms, emergency departments, patient rooms, and, at times, residential settings. The equipment associated with medical gases includes delivery systems such as cylinders, concentrators, regulators, and pipeline components that ensure safe and efficient transport to the point of use. An aging global population prone to chronic illnesses increases the need for medical gases for long-term care. In addition, rising investments in healthcare infrastructure, particularly in emerging economies, augment the deployment of medical gases and equipment. However, the high medical gas & equipment costs and complex regulatory requirements significantly constrain medical equipment adoption. Nevertheless, the ongoing investments in medical gas plants and the development of portable and lightweight gas equipment are expected to create growth opportunities for the medical gas & equipment market in the coming years.

Regional Insights

Asia-Pacific showcases substantial growth potential for the medical gas & equipment market, fueled by increasing healthcare expenditure, a growing population with healthcare awareness, and an escalating number of hospitals and healthcare facilities. An aging population and government initiatives toward healthcare reform have increased investments in medical gas production facilities across Asia-Pacific. The Americas region represents a developing market with a high need for medical gases and equipment due to well-established healthcare systems and regulatory frameworks ensuring product quality and technological adoption rates. Recent investments in the healthcare infrastructure, coupled with an increasing number of surgical procedures, have bolstered the usage of medical gas & equipment in the Americas. The Europe, Middle East, and Africa (EMEA) region presents a diverse medical gas & equipment market landscape. Many EU countries feature mature markets with growth driven by innovations, high healthcare standards, and well-established regulatory frameworks. The Middle East is witnessing rapid healthcare infrastructure development and medical tourism growth. Africa’s medical gas & equipment market is emerging, with growing investments in healthcare systems and an increasing focus on building local manufacturing capabilities for medical gases and equipment.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Medical Gas & Equipment Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Increasing Prevalence of Chronic and Respiratory Diseases
    • Growing Adoption of Home Health Care and use of Portable Medical Gas Equipments
    • Favorable Initiatives by Government Organizations for Medical Gas & Equipment Manufacturing
    • Market Restraints
      • Shortage and Price Volatility of Medical Gases
      • Market Opportunities
        • Emerging Use of IoT and Other Technologies in Medical Gas Monitoring
        • Rising Investment and Organizational Efforts to Expand Medical Gas Access Worldwide
        • Market Challenges
          • Safety Concerns and Regulations for the Medical Gases
          • Market Segmentation Analysis
            • Product: Wide availability of medical gas equipment to ensure the controlled release of gas in healthcare operations
            • End Use: Emerging adoption of medical gas & equipment in home care settings
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Medical Gas & Equipment Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Medical Gas & Equipment Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Atlas Copco Acquired New Hampshire-based Medical Gas Systems Service Suppliers
              
              Atlas Copco expanded its foothold in the medical gas sector with the strategic acquisition of William G Frank Medical Gas Testing and Consulting, LLC, alongside Medical Gas Credentialing LLC, located in Concord, New Hampshire. With the acquisition, the company aims to bolster its medical gas solutions services, lauding the businesses for their exceptional service, technical prowess, and strong customer relations.
              
              INOX Air Products Awarded Contract for Setting up 2 x 1800 TPD ASUs at Tata Steel’s Meramandali Plant at Odisha
              
              INOX Air Products recently secured a significant contract to establish two Air Separation Units (ASUs) at Tata Steel's Meramandali plant in Odisha. Each ASU will boast an impressive oxygen production capacity of 1800 tons per day and generate nitrogen, argon, and rare gases. The collaboration with Tata Steel reflects INOXAP's largest on-site partnership and the facility's creation with the highest liquid gas production at a single location—exceeding 600 TPD.
              
              CVC Asia V invests in Samator Indo Gas, Indonesia’s Industrial and Medical Gas Company
              
              PT Samator Indo Gas Tbk, previously known as PT Aneka Gas Industri Tbk, announced a strategic transaction wherein Matrix Company Limited, backed by CVC Capital Partners-advised CVC Funds, acquired a significant minority interest for USD 155 million. The investment signifies a vote of confidence in Indonesia's economy and Samator Indo Gas's robust performance.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Medical Gas & Equipment Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Medical Gas & Equipment Market, highlighting leading vendors and their innovative profiles. These include Allied Healthcare Products, Inc. by Flexicare (Group) Limited, Amcaremed Technology Co., Limited, Amico Group of Companies, ARAS Group of Companies, Atlas Copco Group, Avante Health Solutions, Digiline Systems Private Limited, Ellenbarrie industrial Gases, GCE Group AB, GE Healthcare, Genstar Technologies Co, Inc., Greggersen Gasetechnik GmbH, Honeywell International Inc., ILMO Products Company, Koninklijke Philips N.V., Linde PLC, MagGas Medical Inc., MEC Medical Ltd., Nippon Sanso Holdings Corporation, Ohio Medical LLC, Pattons Medical, Powerex, Rotarex S.A., Schönn Medizintechnik GmbH, Silbermann Medical Gas Systems, SOL Group, and Yueyang kameter electronic special rare gas co., LTD..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Medical Gas & Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product
              • Medical Gas Equipments
                • Alarm system
                • Cylinders
                • Flowmeters
                • Hose Assemblies & Valves
                • Manifolds
                • Medical Air Compressors
                • Outlets
                • Regulators
                • Vacuum System
                • Medical Gas Mixtures
                  • Aerobic Mixtures
                  • Anaerobic Mixtures
                  • Blood Gas Mixtures
                  • Carbon dioxide-oxygen Mixtures
                  • Ethylene Oxide
                  • Helium Oxygen Mixtures
                  • Lung Diffusion Mixtures
                  • Nitrous oxide-oxygen Mixtures
                  • Medical Pure Gas
                    • Carbon Dioxide
                    • Helium
                    • Medical Air
                    • Nitrogen
                    • Nitrous Oxide
                    • Oxygen
                    • Form of Delivery
                      • Bulk Delivery
                      • High-Pressure Cylinders
                      • Liquid Tanks
                      • Application
                        • Diagnostic
                          • General Laboratory Applications
                          • Medical Imaging
                          • Pharmaceutical Manufacturing
                          • Therapeutic
                            • Anesthesia
                            • Cardiovascular
                            • Cryosurgery
                            • Respiratory
                            • End Use
                              • Academic Research Institutes
                              • Biopharmaceutical Companies
                              • Emergency Services
                              • Home Care Settings
                              • Hospitals
                              • Region
                                • Americas
                                  • Argentina
                                  • Brazil
                                  • Canada
                                  • Mexico
                                  • United States
                                    • California
                                    • Florida
                                    • Illinois
                                    • New York
                                    • Ohio
                                    • Pennsylvania
                                    • Texas
                                    • Asia-Pacific
                                      • Australia
                                      • China
                                      • India
                                      • Indonesia
                                      • Japan
                                      • Malaysia
                                      • Philippines
                                      • Singapore
                                      • South Korea
                                      • Taiwan
                                      • Thailand
                                      • Vietnam
                                      • Europe, Middle East & Africa
                                        • Denmark
                                        • Egypt
                                        • Finland
                                        • France
                                        • Germany
                                        • Israel
                                        • Italy
                                        • Netherlands
                                        • Nigeria
                                        • Norway
                                        • Poland
                                        • Qatar
                                        • Russia
                                        • Saudi Arabia
                                        • South Africa
                                        • Spain
                                        • Sweden
                                        • Switzerland
                                        • Turkey
                                        • United Arab Emirates
                                        • United Kingdom
                                        
                                        
                                        Please Note: PDF & Excel + Online Access - 1 Year