Medical Gas And Equipment Market Size, Share, Opportunities, And Trends By Type (Medical Gas (Oxygen, Carbon Dioxide, Nitrogen, Nitrous Oxide, Medical Air, Helium), Medical Gas Equipment), By Application (Therapeutic Condition, Respiratory Therapy, Cardiovascular Therapy, Others), By End User (Hospitals, Home Healthcare, Pharmaceutical Companies, Academic & Research Institutes, Emergency Services), And By Geography - Forecasts From 2024 To 2029

  • Published : Feb 2024
  • Report Code : KSI061612247
  • Pages : 110

The medical gas and equipment market is projected to grow considerably during the forecast period.

Medical gases and equipment are regarded as a category of medical equipment that includes nitrogen, oxygen, and helium among others. The medical gas equipment market can be classified into three categories such as that of pure gas, and mixtures of one or more components including air, nitrous oxide, and carbon dioxide which are regarded to be essential in multiple healthcare and medical applications. Medical equipment includes ventilators, oxygen concentrators, gas delivery systems, anaesthesia machines, respiratory therapy devices, hyperbaric chambers, and medical gas cylinders. These devices are crucial in various medical disciplines and are regulated by regulatory bodies like the FDA for quality and safety.

The rise in a few chronic disorders such as cancer, diabetes, asthma, and cardiovascular disorders will act as a major driver accelerating the medical gas-equipment market’s growth rate. Moreover, the upsurge relating to the incidences of preterm births, and the growing prevalence of respiratory diseases, especially on account of the increasing count of tobacco smokers including the mounting pollution level is boosting the market domain.

Moreover, the involvement of the various public organizations in supporting the adoption of this medical gas equipment is further leading to propel the domain size. Additionally, announcements were made by the FDA in 2019, regarding the updating of its CGMP regulations to include a new design which is a necessity of oxygen supply to supply compartments and closure, including a new color and labeling to make them easily distinguishable and to further lead in reducing the risk of gas pollution.

MARKET DRIVER:

  • The rise in demand from hospitals is anticipated to spur the market growth

Medical gas and equipment play an imperative role in the hospital industries which are witnessing a significant surge in demand with the increasing number of hospitals across the globe. To deliver and provide efficient treatment to patients requiring critical care, there are various medical equipment such as cryogenic products, flowmeters, regulators, and even medical air compressors and others as well. This equipment is therefore mainstay in Intensive Care Units (ICUs) to Operation Theatres (OTs) across hospitals.

With such an increase in the demand for medical gas and equipment in the healthcare industry, multiple government funds in healthcare are increasingly investing which is driving the market growth. For instance, taking the example of India, the healthcare sector in India is expanding at a brisk pace, especially since the government has allowed foreign direct investment (FDI) in the industry. According to the World Health Organization (WHO), in Vietnam for every 1% increase in per capita GDP, public spending on healthcare has surged by 1.7% since 2000.

  • Rising incidence of chronic diseases will surge the growth of the market

The medical gas and equipment market is expected to experience sustained growth due to the increasing prevalence of chronic respiratory conditions, cardiovascular diseases, home healthcare needs, the aging population, critical care and emergency medicine, preventive healthcare measures, technological advancements, and increased focus on respiratory health. Chronic respiratory conditions like COPD and asthma require medical gases like oxygen for therapeutic purposes, while cardiovascular diseases, including heart failure, may require oxygen for patients experiencing respiratory distress. The growing preference for home healthcare fuels the demand for portable and home-use medical gas equipment, including devices for oxygen therapy and other respiratory support. Technological advancements in medical gas delivery systems and equipment contribute to improved patient care and management of chronic diseases. Public health campaigns and initiatives focusing on respiratory health also contribute to increased awareness of chronic respiratory conditions, leading to earlier diagnosis and treatment.

North America is anticipated to hold a significant amount of the market share

North America will witness a surge in this market during the projected period. The medical gas equipment market of North America dominates in terms of its market share and market revenue which is said to flourish its dominance during the forecast period. The presence of key players in the North American region along with the well-established healthcare including the pharmaceutical region is the few driving factors leading towards the dominance of North America in the medical gas equipment market. North America's advanced healthcare infrastructure, strict regulatory standards, high healthcare expenditure, technological advancements, and growing demand for home healthcare contribute to its dominant market position in the medical gas and equipment industry.

Additionally, the US is said to account for a higher sales value in the region which is further driven by the presence of multiple healthcare facilities. Furthermore, the current increase in the use of home-based therapy in the US is resulting in the medical gas equipment market experiencing a rise in standards and even analysis including various delivery procedures.

Market Key Developments

  • October 2023- Atlas Copco has acquired William G Frank Medical Gas Testing and Consulting, LLC and Medical Gas Credentialing LLC, both based in Concord, New Hampshire, USA. The acquisitions include medical and laboratory gas services, including annual inspections, consulting, preventative maintenance, parts supply, equipment sales, and professional development and training.
  • November 2022- ESAB Corporation has announced a retail partnership with Northern Tool + Equipment, a leading provider of high-quality tools and equipment. The partnership includes flagship products from ESAB's marquee brands, including ESAB, Victor® Gas Equipment, and Tweco®, available in Northern Tool + Equipment's retail footprint, which includes over 125 stores in the Midwest and East Coast. The products are also available online at northerntool.com, providing welders and fabricators with a convenient purchasing path. The partnership is expected to expand as the companies continue to innovate and optimize their offerings.
  • January 2022- NOVAIR, a leading manufacturer of on-site gas production systems, has acquired OGSI, a USA-based manufacturer of industrial and medical oxygen generators. OGSI's solutions are designed for demanding applications like disaster preparedness, healthcare, and semiconductor manufacturing. As part of NOVAIR Group, OGSI and the US market will access a wide range of high-end solutions, including industrial and medical PSA oxygen & and nitrogen generators, high-pressure oxygen Cylinder Filling Systems, and Medical Air/Vacuum Systems. The acquisition strengthens NOVAIR's global presence and manufacturing capacity, with a new foothold in the USA.

Segmentation:

  • By Type
    • Medical Gas
      • Oxygen
      • Carbon Dioxide
      • Nitrogen
      • Nitrous Oxide
      • Medical Air
      • Helium
    • Medical Gas Equipment
  • By Application
    • Therapeutic Condition
    • Respiratory therapy
    • Cardiovascular Therapy
    • Others
  • By End-User
    • Hospitals
    • Home Healthcare
    • Pharmaceutical Companies
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • Others

Frequently Asked Questions (FAQs)

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits to the stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Russia-Ukraine War Impact Analysis

5. MEDICAL GAS AND EQUIPMENT MARKET, BY TYPE

5.1. Introduction

5.2. Medical Gas

5.2.1. Market Opportunities and Trends

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.2.4. Oxygen 

5.2.5. Carbon Dioxide

5.2.6. Nitrogen

5.2.7. Nitrous Oxide

5.2.8. Medical Air

5.2.9. Helium

5.3. Medical Gas Equipment

5.3.1. Market Opportunities and Trends

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

6. MEDICAL GAS AND EQUIPMENT MARKET, BY APPLICATION

6.1. Introduction

6.2. Therapeutic Condition

6.2.1. Market Opportunities and Trends

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Respiratory Therapy

6.3.1. Market Opportunities and Trends

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Cardiovascular Therapy

6.4.1. Market Opportunities and Trends

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

6.5. Others

6.5.1. Market Opportunities and Trends

6.5.2. Growth Prospects

6.5.3. Geographic Lucrativeness

7. MEDICAL GAS AND EQUIPMENT MARKET, BY END-USER

7.1. Introduction

7.2. Hospitals 

7.2.1. Market Opportunities and Trends

7.2.2. Growth Prospects

7.2.3. Geographic Lucrativeness

7.3. Home Healthcare

7.3.1. Market Opportunities and Trends

7.3.2. Growth Prospects

7.3.3. Geographic Lucrativeness

7.4. Pharmaceutical Companies

7.4.1. Market Opportunities and Trends

7.4.2. Growth Prospects

7.4.3. Geographic Lucrativeness

7.5. Others

7.5.1. Market Opportunities and Trends

7.5.2. Growth Prospects

7.5.3. Geographic Lucrativeness

8. MEDICAL GAS AND EQUIPMENT MARKET, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Type

8.2.2. By Application

8.2.3. By End-User

8.2.4. By Country

8.2.4.1. USA

8.2.4.1.1. Market Opportunities and Trends

8.2.4.1.2. Growth Prospects

8.2.4.2. Canada

8.2.4.2.1. Market Opportunities and Trends

8.2.4.2.2. Growth Prospects

8.2.4.3. Mexico

8.2.4.3.1. Market Opportunities and Trends

8.2.4.3.2. Growth Prospects

8.3. South America

8.3.1. By Type

8.3.2. By Application

8.3.3. By End-User

8.3.4. By Country 

8.3.4.1. Brazil

8.3.4.1.1. Market Opportunities and Trends

8.3.4.1.2. Growth Prospects

8.3.4.2. Argentina

8.3.4.2.1. Market Opportunities and Trends

8.3.4.2.2. Growth Prospects

8.3.4.3. Others

8.3.4.3.1. Market Opportunities and Trends

8.3.4.3.2. Growth Prospects

8.4. Europe

8.4.1. By Type

8.4.2. By Application

8.4.3. By End-User

8.4.4. By Country

8.4.4.1. United Kingdom

8.4.4.1.1. Market Opportunities and Trends

8.4.4.1.2. Growth Prospects

8.4.4.2. Germany

8.4.4.2.1. Market Opportunities and Trends

8.4.4.2.2. Growth Prospects

8.4.4.3. France

8.4.4.3.1. Market Opportunities and Trends

8.4.4.3.2. Growth Prospects

8.4.4.4. Italy

8.4.4.4.1. Market Opportunities and Trends

8.4.4.4.2. Growth Prospects

8.4.4.5. Others

8.4.4.5.1. Market Opportunities and Trends

8.4.4.5.2. Growth Prospects

8.5. Middle East and Africa

8.5.1. By Type

8.5.2. By Application

8.5.3. By End-User

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.1.1. Market Opportunities and Trends

8.5.4.1.2. Growth Prospects

8.5.4.2. UAE

8.5.4.2.1. Market Opportunities and Trends

8.5.4.2.2. Growth Prospects

8.5.4.3. Others

8.5.4.3.1. Market Opportunities and Trends

8.5.4.3.2. Growth Prospects

8.6. Asia Pacific

8.6.1. By Type

8.6.2. By Application

8.6.3. By End-User

8.6.4. By Country

8.6.4.1. China

8.6.4.1.1. Market Opportunities and Trends

8.6.4.1.2. Growth Prospects

8.6.4.2. Japan

8.6.4.2.1. Market Opportunities and Trends

8.6.4.2.2. Growth Prospects

8.6.4.3. South Korea

8.6.4.3.1. Market Opportunities and Trends

8.6.4.3.2. Growth Prospects

8.6.4.4. Others

8.6.4.4.1. Market Opportunities and Trends

8.6.4.4.2. Growth Prospects

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. The Linde Group

10.2. Praxair Technology, Inc.

10.3. Delta P S.r.l

10.4. Rotarex

10.5. SOL SPA

10.6. Messer Group

10.7. Medicop

10.8. Amico Group of Companies

10.9. Precision UK Ltd (a subsidiary of Indutrade)

10.10. MEC Medical Ltd.

10.11. Air Liquide

10.12. Air Products and Chemicals, Inc.

10.13. TAIYO NIPPON SANSO CORPORATION

10.14. GCE Group

10.15. Atlas Copco AB


The Linde Group

Praxair Technology, Inc.

Delta P S.r.l

Rotarex

SOL SPA

Messer Group

Medicop

Amico Group of Companies

Precision UK Ltd (a subsidiary of Indutrade)

MEC Medical Ltd.

Air Liquide

Air Products and Chemicals, Inc.

TAIYO NIPPON SANSO CORPORATION

GCE Group

Atlas Copco AB