Global Medical Gas Equipment Market - 2024-2031

Global Medical Gas Equipment Market - 2024-2031

Global Medical Gas Equipment market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.

Medical gas equipment refers to a broad category of apparatuses and systems that are utilized in healthcare environments to provide patients with therapeutic or diagnostic gases. From anesthetic and pain management to respiratory support and diagnostic testing, these gases are essential to many medical procedures and patient care.

Market Dynamics: Drivers & Restraints

Increase in chronic respiratory diseases

The increasing surge in respiratory conditions such as COPD, asthma and other conditions is expected to increase the demand for medical gas equipment. For instance, according to the report by the American Lung Association, in 2024, it is estimated that COPD affects 11.7 million adults and several hundreds of thousands of emergency visits and billions of dollars are expected to invest in treating the condition. The usage of gas equipment in hospitals increases with the increasing number of individuals suffering from respiratory illness.

Additionally, individuals suffering from asthma will also account for the use of medical gases. According to the American College of Allergy, Asthma & Immunology, it is estimated that 439,000 individuals get hospitalized annually and around 1.3 million include emergency room visits. Asthma is the most common chronic illness in childhood. Thus, an increase in asthma cases in individuals will affect the breathing of individuals, who require medical gas. Thus, the above factors are expected to drive the market growth.

High cost of the medical gas and equipments

The high cost of medical gases with increasing usage and the shortage of gases and the increasing cost of advanced equipment cannot be afforded by the individuals to set at their homes and as there is no alternative available for the gas equipment, individuals resist them from purchasing the equipment. Thus, this factor can hinder the market growth.

Segment Analysisn

The global medical gas equipment market is segmented based on equipment type, gas type, end-user and region.

The flowmeters segment is expected to dominate the market growth

An instrument designed to detect the precise rate of flow in a pipe is termed a flow meter. In many applications, the precise measurement of gas or liquid flow assures a safe, effective, and ecologically responsible operation. The increase in product launches with advanced technologies and the increase in the demand for flowmeters for medical purposes is holding the segment in the dominant position of the market share.

For instance, on May 10, 2023, PSG launched its new BioProTT FlowSU System and updated SumoFlo CPFM-8103 Single-Use Coriolis Mass Flow Meter technologies.

On March 10, 2023, DGD Fluid Power developed the latest model in its CFT Cartridge Flow Transmitter series. The CFT is the first turbine flow meter configured as a cartridge valve. Thus, the above factors are expected to drive the segment growth and is expected to hold the dominant position in the market share during the forecast period.

Geographical Analysis

North America is expected to hold a significant position in the medical gas equipment market share

North America is expected to hold a dominant position in the market share in the forecast period. This is due to the increased demand for medical gas, increasing technological advancements in the region, and also the presence of major manufacturing companies in the region. The highly established medical infrastructure and the strategies of the companies in the region are also expected to drive market growth in the region.

For instance, in July 2023, Emerson launched a stationary oxygen concentrator manifold. The product integrates into the fluidic path of oxygen concentrators, significantly reducing engineering and assembly time for medical equipment manufacturers.

Additionally, in November 2023, Honeywell launched its 100% hydrogen-capable diaphragm gas meter for the European market. The Honeywell E15 meter is capable of measuring both hydrogen and natural gas. The technology has been tested and certified by Physikalisch-Technische Bundesanstalt (PTB)

Furtherrmore, in March 2023, ESAB Corporation acquired Therapy Equipment Ltd. The acquisition strengthens the company’s leading global gas control equipment portfolio and represents the third acquisition for the corporation. Thus, the above factors are expected to drive the market growth in the region.

COVID-19 Impact Analysis

COVID-19 has impacted the market growth positively. The increase in the COVID-19 condition among individuals has shortened the breathing. This has led to a huge demand for the patients who are isolated and also the patients who are in ICU. The patients suffering from the shortage of breathing are dependent on the external supply of gases. However, a few disruptions such as the supply chains, and regulatory approvals during the period have impacted the market slightly.

Market Segmentation

By Equipment Type
• Flowmeters
• Compressors
• Alarms
• Pumps
• Cylinders and Accessories
• Regulators
• Medical gas outlets
• Valves
• Others

By Gas Type
• Oxygen
• Nitrogen
• Nitrous Oxide
• Argon
• Compressed Air
• Others

By End User
• Hospitals
• Ambulatory Surgical Centers
• Home Healthcare
• Pharmaceutical Companies
• Biotechnology Companies
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include Air Liquide Healthcare, Dinex Medical, Raydan, SILBERMANN Medical Gas Systems, Bay Corporation, MEC Medical Limited, Advin Health Care, Drägerwerk AG & Co. KGaA, Delta P S.r.l., AmcareMed Medical Gas System among others.

Why Purchase the Report?
• To visualize the global medical gas equipment market segmentation based on equipment type, gas type, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of medical gas equipment market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global medical gas equipment market report would provide approximately 53 tables, 49 figures and 182 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies