Medical Gases and Equipment Market By Product Type (Medical Gases, Medical Gas Equipment), By Application (Therapeutic, Diagnostics, Others), By End User (Hospitals, Ambulatory Surgical Centers, Diagnostic and Research Laboratories, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The medical gases and equipment market was valued at $14.3 billion in 2022 and is projected to reach $28.9 billion by 2032, exhibiting a CAGR of 7.6% from 2023 to 2032. Medical gases and equipment refer to the various gases and devices used in medical procedures to diagnose, treat, or support patient care. These gases and equipment play a vital role in ensuring the health and well-being of patients in hospitals, clinics, and other medical facilities. Some common medical gases include oxygen, nitrous oxide, helium, and carbon dioxide. Oxygen is the most widely used medical gas and is essential for patients with respiratory conditions or those who require mechanical ventilation. Nitrous oxide is used as an anesthetic during surgery, while helium is used to help patients breathe more easily. Medical equipment includes compressors, cylinders, hose assemblies & valves, masks, vacuum systems, and regulators. These devices are used to administer medical gases and other treatments and support various medical procedures.
Major factors that drive the growth of the global medical gases and equipment market include rapid advancements in medical gas equipment; increase in number of patients suffering from chronic obstructive pulmonary disease (COPD), asthma, and other respiratory diseases. For instance, according to the World Health Organization (WHO), in May 2022, asthma affected an estimated 262 million people in 2019 and caused 455,000 deaths.
Furthermore, supplemental oxygen is used in cardiovascular diseases such as heart failure and angina by increasing the oxygen supply to the heart, reducing the workload on the heart, improving symptoms, and preventing complications. Thus, an increase in rise in prevalence of heart failure and angina is expected to drive the growth of the market. For instance, according to the American Heart Association report 2020, about 6.2 million adults in the U.S. have heart failure.
However, the high cost of medical equipment & gases and strict regulations to ensure safety and efficacy are expected to hamper the medical gases and equipment market growth. On the contrary, surge in healthcare expenditure, rise in number of surgical procedure increase the demand of nitrous oxide as an anesthetic and unmet medical demands in developing countries are expected to create immense opportunities for expansion of the global market in the future.
The medical gases and equipment market is segmented on the basis of product type, application, end user, and region. On the basis of product type, the market is classified into medical gases and medical gas equipment. The medical gases segment is further bifurcated into pure medical gases and medical gas mixtures. The medical gas equipment segment is further divided into compressors, cylinders, hose assemblies & valves, masks, vacuum systems, regulator, and others (manifolds, outlets, flowmeter, alarm system).
Depending on application, the market is classified into therapeutic, diagnostics, and others (pharmaceutical manufacturing, and research). By end user, it is segregated into hospitals, ambulatory surgical centers, diagnostic & research laboratories, and others (pharmaceutical & biotechnology companies, home healthcare, and academic & research institutions). Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major players profiled in the report are Advin Health Care, Air Liquide (Air Liquide Medical Systems), Air Products and Chemicals Inc, Atlas Copco AB, DCC plc (Flogas), ESAB (GCE Holding AB), Linde Plc, Matheson Tri-Gas Inc., Messer Holding GmbH, and Rotarex. The major players in the market have adopted acquisition and product launch as key developmental strategies to improve the product portfolio of the medical gases and equipment market
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medical gases and equipment market analysis from 2022 to 2032 to identify the prevailing medical gases and equipment market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the medical gases and equipment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global medical gases and equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Product TypeMedical Gases
Type
Pure Medical Gases
Medical Gas Mixtures
Medical Gas Equipment
Type
Compressors
Cylinders
Hose Assemblies and Valves
Masks
Vacuum Systems
Regulator
Others
By ApplicationTherapeutic
Diagnostics
Others
By End UserHospitals
Ambulatory Surgical Centers
Diagnostic and Research Laboratories
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Advin Health Care
Air Liquide
Air Products and Chemicals, Inc.
Atlas Copco AB
DCC Plc
ESAB
Linde plc
Matheson Tri-Gas, Inc.
Messer Holding GmbH
Rotarex
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