Medical Gas Equipment Market Size, Share, Growth Analysis, By Type (Pure Medical Gases, Medical Gas Mixtures), By End User (Hospitals & Clinics, Home Healthcare), By Region - Industry Forecast 2024-2031
Global Medical Gas Equipment Market size was valued at USD 14.1 billion in 2022 and is poised to grow from USD 15.16 billion in 2023 to USD 27.03 billion by 2031, growing at a CAGR of 7.5% during the forecast period (2024-2031).
The global medical gas equipment market has seen substantial growth recently, propelled by the rising incidence of chronic respiratory diseases, advancements in healthcare infrastructure, and an increasing demand for advanced medical facilities. This market insight highlights current trends, market size, leading players, and future opportunities within the medical gas equipment sector. The market can be segmented in various ways, including product type, end-user, application, and region. Key product types encompass oxygen delivery systems, nitrous oxide delivery systems, carbon dioxide delivery systems, medical air delivery systems, and other related equipment. Overall, the market is set to continue its upward trajectory, reflecting the ongoing expansion of healthcare services worldwide.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Medical Gas Equipment market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Medical Gas Equipment Market Segmental Analysis
Global Medical Gas Equipment Market is segmented by type, application, end user and region. Based on type, the market is segmented into pure medical gases, medical gas mixtures and medical gas equipment. Based on application, the market is segmented into therapeutic applications. Based on end user, the market is segmented into hospitals & clinics, home healthcare, pharmaceutical and biotechnology companies, academic & research institutions and other end users. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Medical Gas Equipment Market
The global medical gas equipment market is witnessing significant growth, largely fueled by the increasing demand for home healthcare services. Patients are opting for care in the familiarity and comfort of their homes, which not only enhances their well-being but also proves to be a more economical alternative to hospital admissions. This shift aims to alleviate the strain on healthcare facilities while ensuring that patients receive the necessary medical attention. Consequently, there is a rising demand for various home medical gas equipment, such as oxygen concentrators and respiratory therapy devices, playing a pivotal role in propelling the market forward.
Restraints in the Global Medical Gas Equipment Market
The global medical gas equipment market faces significant restraints primarily due to limited reimbursement policies, which differ widely across various regions and healthcare systems. Inconsistent or insufficient reimbursement coverage for medical gas equipment can create complexities that hinder healthcare providers' ability to invest in these essential tools. As a result, these challenges may curtail market growth and development. To foster a more robust market environment, it is crucial for stakeholders to effectively navigate the intricate reimbursement landscape, ensuring that healthcare providers have the necessary support to adopt and integrate medical gas equipment into their practices.
Market Trends of the Global Medical Gas Equipment Market
The Global Medical Gas Equipment market is poised for significant expansion, particularly in the pure medical gas sub-segment. This surge is primarily driven by the critical role of oxygen gas in contemporary anesthetic practices and life support systems for patients relying on ventilators. Key factors contributing to market growth include a rising incidence of chronic illnesses and an escalating rate of road accidents, which necessitate a dependable oxygen supply for intensive care and surgical environments. The market is characterized by two main oxygen delivery systems: bulk oxygen systems and cylinder-manifold systems, both essential for meeting the demands of healthcare facilities globally.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2023
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Technological Advancement
Regulatory Landscape
Case Studies
Global Medical Gas Equipment Market Size by Type & CAGR (2024-2031)
Market Overview
Pure Medical Gases
Oxygen
Carbon Dioxide
Nitrogen
Nitrous Oxide
Medical Air
Others
Medical Gas Mixtures
Blood-Gas Mixtures
Lung Diffusion Mixtures
Nitrous Oxide- Oxygen Mixtures
Carbon Dioxide- Oxygen Mixtures
Laser-Gas Mixtures
Anaerobic Gas Mixtures
Aerobic Gas Mixtures
Helium- Oxygen Mixtures
Medical Gas Equipment
Equipment Accessories
Vacuum Systems
Manifolds
Regulators
Flowmeters
Hoses
Valves With Integrated Pressure Regulators (Viprs)
Monitoring Systems (Alarms & Monitors)
Medical Air Compressors
Other Equipment
Gas Delivery Systems
Cryogenic Products (Freezers)
Global Medical Gas Equipment Market Size by Application & CAGR (2024-2031)
Market Overview
Therapeutic Applications
Respiratory Therapies
Cardiovascular Therapies
Anesthesia Delivery
Cryosurgery
Other Therapeutic Applications
Global Medical Gas Equipment Market Size by End User & CAGR (2024-2031)
Market Overview
Hospitals & Clinics
Home Healthcare
Pharmaceutical and Biotechnology Companies
Academic & Research Institutions
Other End Users
Global Medical Gas Equipment Market Size & CAGR (2024-2031)
North America (Type, Application, End User)
USA
Canada
Europe (Type, Application, End User)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Type, Application, End User)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Type, Application, End User)
Brazil
Rest of Latin America
Middle East & Africa (Type, Application, End User)