Medical Gas Market

The global medical gas market size was estimated to be US$ 12.3 billion in 2021 and is expected to grow at a CAGR of 7.7% between 2023 to 2032.

As observed during the COVID-19 pandemic, there has been an unprecedented rise in cases of multiple respiratory diseases across the globe. This has led to skyrocketing of demand for medical gases as modern medicine relies heavily on it. Medical gases are sterile, free of contaminants and provide crucial medical solutions. Medical gases not only help patients with breathing and anesthesia but also allow healthcare professionals to analyze the functioning of the lungs and cardiovascular system.

Furthermore, medical gases are integral for providing the correct diagnosis and cryosurgery. Medical gases are used in hospitals to sterilize, insulate processes and synthesize products that benefit human health. The practice of inhalation of medical gases by patients is called gas therapy. There is a new focus towards various technological advancements by well-established market players to increase the production rate. Such measures will result in rapid market expansion across various economies.

Medical gas market dynamics

Rapidly growing health issues

Rising pollution levels worldwide and high prevalence of drugs and tobacco use amongst the youth cause various respiratory diseases. Additionally, the increase in number of chronic diseases and rising incidences of premature births are the most common factors driving the markets overall growth globally.

Increase in public and private healthcare expenditure

Due to an increasing demand for advanced medical gas equipment, such as vacuum systems and an increase in funding for medical gas-related research activities the growth of the market is certain. The growing awareness among the doctors and patients regarding chronic diseases and an increase in healthcare for home applications has further cushioned the markets growth. 

Innovations and advancements offer opportunities

The introduction of advanced backup systems coupled with the state of the art medical gas equipment has further expanded the medical gas markets growth rate. Furthermore, new technological advancements in medical science and expansion of the market in emerging countries has generated multiple lucrative opportunities, for new as well as established market players.

COVID-19 impact on medical gas market

As a consequence of the COVID-19 pandemic, the medical gas market was hugely affected due to the growing demand and medical gas shortages needed for patient treatment. Several public sector initiatives were fast tracked such as temporary healthcare facilities and infrastructure upgrades for COVID-19 quarantine centers. Initially, due to the restrictions on people and products mobility, the global supply chain were interrupted which had a minor impact on industrial growth. However, with conditions stabilizing and international trade showing signs of recovery, the medical gas markets will gradually gain momentum for a steady long term growth.

Challenges in the Global Medical Gas Market

Concerns regarding failure of medical gas equipment

Multiple instances related with the failure of medical gas equipment have unfortunately resulted in patient mortality and disabilities. Consequently, government regulators have imposed various stringent regulations and standards pertaining to medical gas equipment which is expected to restrain market growth. Additionally, altering the medical gas calibration standards and declining public reimbursements for respiratory therapies will restrict overall market growth.

The major players operating in the medical gas market are Air Products Inc., Linde Plc, Air Liquide, Ellenbarrie Industrial Gases, Praxair Technology,Inc. TAIYO NIPPON SANSO CORPORATION, AIMS INDUSTRIES PRIVATE LIMITED, scicalgas (U.S), SOL Group, Atlas Copco AB, Zaburitz Pearl Energy Co., Ltd., Rotarex, Messer Group GmbH, Amico Group, GCE Group and others.

Global Medical Gas Market Segmentation

By Product

• Medical Gases
• Pure medical gases
• Type of delivery:
  • Carbon dioxide, oxygen, nitrogen, nitrous oxide, medical air and helium
• Form of delivery:
  • Liquid cylinders, high pressure cylinders and bulk delivery
• Medical gas mixtures
  • Laser-gas mixtures, lung diffusion mixtures, blood-gas mixtures, anaerobic gas mixtures, nitrous oxide–oxygen mixtures, aerobic gas mixtures, carbon dioxide–oxygen mixtures, and ethylene oxide and helium-oxygen mixtures
• Medical Gas Equipment
• Oxygen concentrators
• Cryogenic products
• Equipment accessories
• Gas delivery systems

By Application

• Pharmaceutical Manufacturing and Research
• Pharmaceutical manufacturing
• Drug discovery
• Quality control
• Process development
• Diagnostic Applications
• Medical imaging
• General laboratory use
• Therapeutic Applications
• Cardiovascular diseases
• respiratory diseases
• cryosurgery
• anesthesia

By Method of Separation

• Physical Separators
• Fractional Distillation
• Molecular Sieve
• Semipermeable Membrane
• Others

By End User

• Hospitals
• Home Healthcare
• Pharmaceutical and Biotechnology Companies
• Academic and Research Institutions
• Emergency Service Providers
• Others

By Geography

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • India
  • China
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• South America
  • Brazil
  • Rest of South America