Medical Gas Equipment Market Share, Size, Trends, Industry Analysis Report, By Product (Regulators, Alarm Systems, Medical Air Compressors, Cylinders and Accessories, Hose Assemblies and Valves, Manifolds, Vacuum Systems/Pumps, Flowmeters, Outlets, Masks)

Medical Gas Equipment Market Share, Size, Trends, Industry Analysis Report, By Product (Regulators, Alarm Systems, Medical Air Compressors, Cylinders and Accessories, Hose Assemblies and Valves, Manifolds, Vacuum Systems/Pumps, Flowmeters, Outlets, Masks); By End-Use; By Region; Segment Forecast, 2023 - 2032

The global medical gas equipment market size is expected to reach USD 40.60 billion by 2032, according to a new study by Polaris Market Research. The report “Medical Gas Equipment Market Share, Size, Trends, Industry Analysis Report, By Product (Regulators, Alarm Systems, Medical Air Compressors, Cylinders and Accessories, Hose Assemblies and Valves, Manifolds, Vacuum Systems/Pumps, Flowmeters, Outlets, Masks); By End-Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Healthcare facilities employ medical gases and associated equipment for a wide range of medical procedures. The apparatus used to administer and monitor medicinal gases, such as oxygen and nitrous oxide, is commonly referred to as medical gas equipment. According to the American Lung Association, it was anticipated that around 12.5 million individuals would be diagnosed with COPD in 2020, underscoring the increasing demand for medical gas equipment. Furthermore, the industry is witnessing advancements in cutting-edge technologies, including vacuum systems, wearable oxygen concentrators, and masks. Given the essential role of medical gases in the long-term treatment of chronic conditions, the medical gas market is projected to experience substantial growth in the coming years.

The demand for medical gases and equipment is propelled by the increasing incidence of Chronic Respiratory Diseases (CRDS), which includes conditions like pulmonary hypertension, chronic obstructive pulmonary disease, occupational lung diseases, and asthma. Chronic obstructive pulmonary disease (COPD), responsible for over 3.0 million annual deaths and constituting approximately 6% of global fatalities, has the potential to surpass tobacco use as the third leading cause of death by 2030. Furthermore, the same report indicates that nearly 235.0 million people worldwide are affected by asthma.

Technological advancements are broadening the functional possibilities of medical gas-handling equipment, both in hospital settings and home care. State-of-the-art technology surpasses older equipment by offering integrated monitoring and therapeutic delivery systems, in addition to educational resources and improved patient-healthcare professional communication. Furthermore, a variety of interconnected medical gas equipment is undergoing gradual enhancements to elevate the standard of care. The development of lightweight and portable medical gas-handling equipment has proved highly advantageous for the expanding home healthcare sector. Many medical gas equipment manufacturers are now focused on creating more compact and transportable gas delivery systems for patient use. The availability of smaller and more cost-effective equipment has led to a continuous transformation in the nature of the medical gas equipment industry, particularly in the realm of home care.

Additionally, a study published in the National Library of Medicine in June 2021 highlighted the significant impact of coronary artery disease (CAD) on global health. CAD alone is responsible for approximately 610,000 deaths annually, accounting for an estimated one in four deaths and making it the foremost cause of mortality in the United States. With the incidence of CAD rising, there is a growing demand for effective Medical Gas Equipment devices to address this pressing medical need. Consequently, this factor is projected to drive the demand for Medical Gas Equipments throughout the forecast period.

Medical Gas Equipment Market Report Highlights

The Hospitals segment held the largest market share throughout the forecast period. Medical gas equipment plays a pivotal role in diverse medical procedures, with a primary focus on ensuring patient safety and overall well-being. This category includes gas cylinders, pressure regulators, flow meters, and other devices engineered to control gas flow and pressure. The demand for medical gases is intricately connected to the surge in hospital activities. For instance, a rise in surgical procedures correlates with increased consumption of gases such as nitrous oxide, carbon dioxide, oxygen, and medical air. Similarly, an uptick in outpatient treatments leads to heightened oxygen consumption.

The Vacuum Systems/Pumps segment held the largest revenue share in 2022, Market growth can be attributed to factors such as increased utilization and elevated pricing. With the growing complexity and diversity of medical procedures, the incorporation of vacuum systems and pumps has become indispensable for the safe and efficient administration of medical gases. Furthermore, advanced equipment can deliver precise and dependable suction power, a crucial aspect in surgical procedures where fluid and gas suction is of paramount importance for patient safety.

During 2022, North America's dominance in the market stemmed from its highly developed healthcare system, a substantial prevalence of minimally invasive procedures, and the enforcement of regulatory initiatives, notably the U.S. Food and Drug Administration Safety and Innovation Act. The COVID-19 pandemic led to a notable upsurge in the requirement for critical respiratory support devices like oxygen concentrators and ventilators in the region, emphasizing the increased significance of medical gas equipment in ensuring patient care.

The global key market players include Air Liquide S.A., Airgas Inc., Allied Healthcare Products Inc., Amico Corp, Atlas Copco Group Colfax Corporation (GCE group AB) Gentec Corp., Linde plc, Powerex, Taiyo Nippon Sanso Corporation

Polaris Market Research has segmented the Medical Gas Equipment market report based on product, end-use, and region:

Medical Gas Equipment, Product Outlook (Revenue - USD Billion, 2019 - 2032)

Regulators

Alarm Systems

Medical Air Compressors

Cylinders and Accessories

Hose Assemblies and Valves

Manifolds

Vacuum Systems/Pumps

Flowmeters

Outlets

Masks

Medical Gas Equipment, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

Diagnostic and Research Laboratories

Home Healthcare

Academic and Research Institutions

Hospitals

Ambulatory Surgical Centers

Pharmaceutical And Biotechnology Companies

Medical Gas Equipment, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa