Medical Gas And Equipment Market Size, Share, Opportunities, COVID-19 Impact, 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 2022 To 2027

The medical gas and equipment market is projected to grow at a CAGR of 6.73% during the forecast period, reaching US$25.434.465 million in 2027 from US$16,122.865 million in 2020.

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.

The rise in a few chronic disorders such as cancer, diabetes, asthma, and cardiovascular disorders will act as a major driver accelerating the medical gases-equipment market’s growth rate. Moreover, the upsurge relating to the incidences of preterm births, and the growing prevalence of respiratory diseases, especially on the 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 updation of its CGMP regulations to include a new design which is a necessity of oxygen supply to supply compartments and closure, including a new colour and labeling in order to make them easily distinguishable and to further lead in reducing the risk of gas pollution.

The rise in demand from hospitals spurring growth

Medical gas and equipment play an imperative role in the hospital industries which are witnessing a significant surge in the demand with the increasing number of hospitals across the globe. To deliver and provide efficient treatment to patients requiring critical care, there is 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.

These are a few factors that are indicative of the expansion of the healthcare sector and which are further resulting in the rising demand for advanced services.

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 of 2020-2027. 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.

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

• In June 2021, GE Healthcare moved forward with a launch of their specific new design imperative for a high-pressure gas regulator known as Meditec. This certain Meditec regulator is responsible for providing up to 25 lpm which can further be used for bot resuscitation and even a cluster headache treatment.  
• In January 2022, NOVAIR moved forward with the acquisition of the OGSI-Oxygen generating system Intl., the U-S-based manufacturer of industrial and medical oxygen generators. As part of the deal, OGSI and the U.S. market would gain increased access to a range of high-end solutions complementing the existing ranges of NOVAIR, such as medical PSA oxygen and nitrogen generators, and high-pressure oxygen cylinder filling systems, in turn asserting a positive influence on the medical gas equipment industry outlook.
• In August 2021, Guangzhou Aoson Electronics Co., Ltd., effectively launched an advanced semiconductor technology-based intelligent digital gas mass flow meter, AMS2106. Now, this flow meter is essential in ensuring cumulative flow measurements, including a mixed gas flow detection, designed for flexible use and to monitor the flow of oxygen and other gases in industries including medical.

Medical Gas and Equipment Market Scope:

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
  • Academic & Research Institutes
  • Emergency Services
• By Geography
  • North America
    • USA
    • Canada
    • Others
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Others
  • Middle East and Africa
    • Israel
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Others