The global medical gas equipment market revenue was around US$ 20.65 billion in 2022 and is estimated to reach US$ 37.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 7% during the forecast period from 2023 to 2031.
Medical gas equipment is devices and supplies utilized in healthcare facilities for several medical purposes. Medical gases such as nitrous oxide, oxygen, carbon dioxide, helium, and others are utilized for diagnostic, therapeutic or anesthesia purposes. Medical gases are supplied to the patients through several delivery systems, including central pipeline systems, gas cylinders, and liquid oxygen systems.
Market Driving Factors
The rising incidence of long-term respiratory conditions such as cystic fibrosis, asthma, and chronic obstructive pulmonary disease (COPD) is one of the main factors propelling the market. The main causes of the rising prevalence of respiratory illnesses include aging populations, smoking, and pollution. As a result, there has been a significant surge in the need for medical gases and associated apparatus, such as nebulizers, ventilators, oxygen treatment equipment, and other respiratory care gear.
The advancement of point-of-care diagnostics (POCD) and the increasing incidence of respiratory disorders are expected to drive the market growth. The demand for medical gas equipment, particularly in the home healthcare sector, may necessitate the implementation of POCD. POCD is a broadly employed diagnostic method, that allows for the quick diagnosis of diseases right at the patient's bedside, outperforming other diagnostic approaches.
The high price of ownership of medical gas equipment impedes market growth.
Regional Analysis
North America dominated the market in terms of revenue. This is due to the cutting-edge healthcare system, a substantial prevalence of minimally invasive procedures, and the implementation of regulatory measures, including the U.S. Food and Drug Administration Safety and Innovation Act. Furthermore, the demand for basic respiratory support devices such as ventilators and oxygen concentrators in the region has increased due to the COVID-19 pandemic, emphasizing the raised importance of medical gas equipment in patient care.
Europe is predicted to dominate the market over the forecast period. This is due to the active involvement of entities like the Medical Gas Association and European Industrial Gases Association, which support the acceptance and advancement of medical gas equipment in the region. Furthermore, the well-established healthcare systems in Western European countries are predicted to act as the catalyst for market growth in the region.
Segmentation Insights
End Use Insight
The hospitals segment accounted for the highest share in the market. Medical gas equipment plays an important role in several medical procedures, prioritizing patient safety and well-being. This segment encompasses pressure regulators, gas cylinders, flow meters, and other apparatus designed to control gas flow and pressure. The demand for medical gases is closely linked to the upsurge in hospital activities. For instance, the surge in surgical interventions leads to a higher consumption of gases like carbon dioxide, nitrous oxide, oxygen, and medical air.
The home healthcare segment is expected to dominate the market. It offers patients with the possibility to acquire medical care within the comfort of their own homes. Furthermore, medical gases such as nitrogen and oxygen are used in home healthcare to treat patients who have respiratory conditions or chronic obstructive pulmonary disease (COPD).
Prominent Companies
Segmentation Outline
The global medical gas equipment market segmentation focuses on Product, End Use, and Region.
By Product
By End Use
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL MEDICAL GAS EQUIPMENT MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: MEDICAL GAS EQUIPMENT MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL MEDICAL GAS EQUIPMENT MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL MEDICAL GAS EQUIPMENT MARKET, BY PRODUCT
5.1 OVERVIEW
5.2 REGULATORS
5.3 ALARM SYSTEMS
5.4 MEDICAL AIR COMPRESSORS
5.5 CYLINDERS AND ACCESSORIES
5.6 HOSE ASSEMBLIES AND VALVES
5.7 MANIFOLDS
5.8 VACUUM SYSTEMS/PUMPS
5.9 FLOWMETERS
5.10 OUTLETS
5.11 MASKS
6 GLOBAL MEDICAL GAS EQUIPMENT MARKET, BY END USE
6.1 OVERVIEW
6.2 DIAGNOSTIC AND RESEARCH LABORATORIES
6.3 HOME HEALTHCARE
6.4 ACADEMIC AND RESEARCH INSTITUTIONS
6.5 HOSPITALS
6.6 AMBULATORY SURGICAL CENTERS
6.7 PHARMACEUTICAL AND BIOTECHNOLOGY COMPANIES
7 GLOBAL MEDICAL GAS EQUIPMENT MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL MEDICAL GAS EQUIPMENT MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 AIR LIQUIDE S.A.
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 AIRGAS INC.
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 ALLIED HEALTHCARE PRODUCTS INC.
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 AMICO CORP
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 ATLAS COPCO GROUP
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 COLFAX CORPORATION (GCE GROUP AB)
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 GENTEC CORP.
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 LINDE PLC
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 POWEREX
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 TAIYO NIPPON SANSO CORPORATION
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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