Medical Gases Market By Product (Pure medical gases, Medical gases mixture), By Application (Therapeutics, Diagnostics, Others), By End User (Hospitals, Pharmaceutical and biotechnology companies, Diagnostic centers, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The medical gases market was valued at $8.5 billion in 2022 and is estimated to reach $16.7 billion by 2032, exhibiting a CAGR of 7% from 2023 to 2032. Medical gases refer to gases that are used in medical procedures, treatments, and therapies to support patient care. These gases play a crucial role in the functioning of hospitals and various healthcare facilities. Hospital medical gas systems necessitate the use of various types of gases, each possessing distinct properties and serving specific purposes. These gases are specifically manufactured, purified, and regulated to meet the stringent standards of medical use. Also, these gases, which are essential for medical procedures, are supplied in medical facilities through specialized systems designed for each gas. These gases are transported through a network of pipes from a central supply source. In some cases, certain gases with low volumes may be supplied either in cylinders.
Medical gases are available in two types, pure medical gases and the mixture of gases. Pure medical gases are gases that are specifically manufactured and purified to meet the stringent standards of medical use. These gases are essential for various medical applications and therapies. Examples of pure medical gases include oxygen, nitrogen, carbon dioxide, helium, and others. On the other hand, mixtures of medical gases are combinations of different pure gases in different compositions used for specific medical applications. Some examples of mixture medical gases include medical air, calibration gases, heliox, and others.
The medical gases market is driven by the high demand for essential gases in the healthcare sector. Oxygen, being the most widely used medical gas, plays a critical role in supporting patients with respiratory conditions. Nitrous oxide serves as an important anesthetic during surgical procedures, while helium facilitates easier breathing for patients. In addition, carbon dioxide gas is used in medical procedures like laparoscopy and hysteroscopy, where it is used to inflate the abdominal cavity or uterus. The diagnostic and treatment need of patients necessitate the use of various medical gases, leading to a substantial demand in the healthcare industry. This increase in demand for medical gases fuels the growth of the medical gases market.
Furthermore, factors that drive the growth of the global medical gases market include an increase in the number of patients suffering from chronic obstructive pulmonary disease (COPD), asthma, and other respiratory diseases. For instance, according to the Centers for Disease Control and Prevention (CDC), the number of visits to emergency departments with COPD as the primary diagnosis was 1.2 million in 2020 in the U.S. Prevalence of chronic and acute conditions such as COPD, pulmonary fibrosis, pneumonia, cystic fibrosis, and others which require medical gases in the diagnosis or treatment is propelling the growth of the market.
However, the medical gases market faces certain restraints that may impede its growth and development. The production and supply of medical gases have stringent regulations to ensure the safety, quality, and reliability of these critical healthcare products. These regulations aim to safeguard patient well-being and maintain the integrity of medical gas systems. Medical gas manufacturers are expected to adhere to GMP guidelines, which establish stringent quality control measures for the production, handling, storage, and distribution of medical gases. This is projected to hinder the medical gases market growth.
On the contrary, the growth of the market is expected to be driven by developing regions. In developing regions, healthcare infrastructure is often underdeveloped than in more developed regions. As a result, developing regions are investing or collaborating in the development and expansion of healthcare facilities, such as hospitals, clinics and outpatient care centers. The development of these facilities creates a need for medical gases to provide patient care with a wide range of medical procedures. This is anticipated to create a lucrative opportunity for market growth.
The medical gases market is segmented on the basis of product, application, end user, and region. On the basis of product, the market is bifurcated as pure medical gases and medical gases mixture. The pure gases segment is further categorized into oxygen, carbon dioxide, nitrous oxide, nitrogen, and others. Whereas the medical gas mixture segment is further divided into medical air and others. On the basis of application, the market is categorized into therapeutics, diagnostics, and others. By end user, the market is classified into hospitals, pharmaceutical and biotechnology companies, diagnostic centers, and others.
By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA). Major players that operate in the market include Air Products and Chemicals, Inc., DCC Plc, Linde plc, Messer Holding GmbH, SOL Spa, Nippon Sanso Holdings Corporation, Air Liquide, PT Samator Indo Gas Tbk., NOL Group and WestAir Gases and Equipment Inc.Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medical gases market analysis from 2022 to 2032 to identify the prevailing medical gases 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 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 market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy ProductPure medical gases
Type
Oxygen
Carbon dioxide
Nitrous oxide
Nitrogen
Others
Medical gases mixture
Type
Medical air
Others
By ApplicationTherapeutics
Diagnostics
Others
By End UserHospitals
Pharmaceutical and biotechnology companies
Diagnostic centers
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Air Products and Chemicals, Inc.
DCC Plc
Linde plc
Messer Holding GmbH
Nippon Sanso Holdings Corporation
PT Samator Indo Gas Tbk.
WestAir Gases And Equipment Inc.
Air Liquide
SOL Spa
NOL Group
Please Note: It will take 7-10 business days to complete the report upon order confirmation.