Medical Gas & Equipment Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

Introduction: -

Medical gases and equipment refer to gases and equipment that are utilized for various medical purposes, including diagnosis, treatment, drug processing, and biotechnology research. Medical gases are contained in a cylinder and are vital for medical procedures. They can be single pure gas or a mixture of different gases. The most common gases available and used in major health care settings include oxygen, hydrogen, nitrous oxide, ammonia, nitrogen, and carbon dioxide. The gas equipment usually includes cylinders and masks that are used to store and deliver gas. The global medical gas & equipment market includes players engaged in developing, launching, and distributing various medical gas & equipment technologies and products, including medical gases and medical equipment & accessories. The medical gas & equipment market is projected to expand at a compounded annual growth rate of 7.5% during the forecast period of 2022-2030.

Growth Drivers:

Medical gases are an integral part of a broad range of long-term care treatments for numerous chronic conditions, including cancer, chronic respiratory diseases, and cardiovascular diseases. Obesity is believed to be a root stimulator of severe problems, including diabetes, chronic conditions, and heart disorders among people. The number of people suffering from obesity and various other related diseases & disorders has been growing exponentially in the last few years, mainly due to adverse changes in lifestyle and eating habits of people across the globe. This augmenting incidence of chronic and lifestyle diseases is predicted to fuel the growth of the global medical gas and equipment market during the forecast period 2022-2030.

Moreover, the leading market players in the pharmaceutical industry are putting colossal efforts into developing and introducing technologically advanced medical equipment in the market. Currently, they are focusing on launching smaller, cheap, lightweight, and portable medical gas handling and delivery systems, which patients can easily carry. These advanced handling equipments assist in enhancing several healthcare services and improving the number of functionality options in home care and hospitals. Thus, the rising number of technological advancements is projected to significantly boost the adoption of medical gas & equipment in the pharmaceutical industry and aid in the growth of the global medical gas & equipment market during the forecast period.

Furthermore, factors such as: the surging geriatric population across the globe, the rapidly expanding healthcare infrastructure, the increasing tobacco usage and soaring pollution levels worldwide, the growing number of preterm births, the proliferating number of patients in ICUs who need life-saving systems, and the rising implementation of industry-friendly regulations and initiatives by governments to improve the availability of emergency care in emerging countries are among other primary factors driving the growth of the global medical gas & equipment market.

On the other hand, the dearth of proper reimbursement policy for respiratory therapies and the global shortage of helium are expected to act as major hindrances to the growth of the global medical gas & equipment market during the forecast period.

Medical Gas & Equipment Market Segmentation:

By Type:

·         Medical Gas

o   Pure Medical Gases, By Type

§  Oxygen

§  Carbon Dioxide

§  Nitrous Oxide

§  Nitrogen

§  Medical Air

§  Helium

o   Pure Medical Gases, By Form of Delivery

§  High Pressure Cylinders

§  Liquid Tanks

§  Bulk Delivery

o   Medical Gas Mixtures

§  Blood-gas Mixtures

§  Lung Diffusion Mixtures

§  Nitrous oxide-oxygen Mixtures

§  Carbon dioxide-oxygen Mixtures

§  Laser-gas Mixtures

§  Aerobic Mixtures

§  Anaerobic Mixtures

§  Ethylene Oxide

§  Helium-oxygen Mixtures

·         Medical Gas Equipment  

o   Equipment Accessories

§  Hoses

§  Manifolds

§  Regulators

§  Flowmeters

§  Suction Regulators

§  Vacuum Systems

§  Outlets

§  Monitoring Systems

§  Valve with Integrated Pressure Regulator

§  Medical Air Compressors

o   Cryogenic Products

o   Gas Delivery Systems

By Application:

·         Therapeutic

o   Respiratory Diseases

o   Cardiovascular Diseases

o   Anesthesia

o   Cryosurgery

o   Others

·         Diagnostics

o   Medical Imaging

o   General laboratory Use

·         Pharmaceutical manufacturing and research

o   Drug Discovery

o   Process Development

o   Pharmaceutical Manufacturing

o   Quality Control

·         Other Applications

By End User:

·         Hospitals

·         Home Healthcare

·         Pharmaceutical and Biopharmaceutical Companies

·         Diagnostic and Research Laboratories

·         Academic Institutes and Research Institutes     

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Medical Gas & Equipment Market: Type Review:

Based on type, the global medical gas & equipment market is segmented into pure medical gases, by type; pure medical gases, by form of delivery; and medical gas mixtures. In the pure medical gases, by type segment, the oxygen sub-segment is predicted to attain the highest CAGR in the market during the forecast period of 2022-2030. The growing patient base suffering from respiratory diseases and the surging number of patients going through and requiring emergency medical care are predominantly attributed to this segment's large share and growth.

In the medical gas mixtures segment, the lung diffusion mixtures sub-segment captured the largest share in the market in 2021. The sub-segment is anticipated to continue with its dominance further in the market during the forecast period owing to the ever-increasing aging population and the burgeoning prevalence of chronic diseases across the globe.

Medical Gas & Equipment Market: Application Review:

Based on application, the global medical gas & equipment market is segmented into therapeutic, diagnostics, pharmaceutical manufacturing & research, and other applications. The therapeutic segment held the largest share in the market in 2021. The segment is predicted to maintain its position and attain the highest growth in the market during the forecast period of 2022-2030. The growth of the market can be ascribed to the increasing consumption of tobacco and the growing incidence of respiratory and cardiovascular diseases among people due to increased smoking habits and the soaring pollution levels across the globe.

Medical Gas & Equipment Market: End User Review:

Based on end user, the global medical gas & equipment market is classified into hospitals, home healthcare, pharmaceutical, and biopharmaceutical companies, diagnostic and research laboratories, academic institutes, and research institutes. The hospitals segment led the market in 2021 and is expected to continue to do the same over the forecast period. The large patient base in hospitals and the enhanced usage of medical gas & equipment in hospital settings is majorly attributed to this segment’s large share and high growth. On the other hand, the home healthcare segment is estimated to achieve the highest growth in the market during the forecast period of 2022-2030. The unprecedented rise in healthcare costs and the proliferating awareness and acceptance of home care devices among people are expected to drive the segment's growth during the forecast period of 2022-2030.

Regional Outlook:

The medical gas & equipment research report offers detailed analysis and forecasts for five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The North American region commanded the largest share of the global medical gas & equipment market in 2021, followed by Europe and the Asia Pacific. The trend is expected to remain the same during the forecast period of 2022-2030. The extensive usage of medical gases and equipment, the rising prevalence of several medical conditions, the growing technological advancements coupled with escalating government support and the presence of leading market players, the presence of a well-established and expanding healthcare infrastructure are primarily attributed to the large of the market in the region. Furthermore, the surging old-age population and the increasing adoption of home oxygen therapy are also significantly boosting the growth of the market in the North American region. The U.S. and Canada are the leading contributors to the growth of the market in the region.

The Asia Pacific region is poised to emerge as the fastest-growing regional medical gas & equipment market during the forecast period. The growth of the market in the region can be well attributed to factors such as; the burgeoning prevalence of chronic diseases and other medical conditions, the enhancing healthcare infrastructure, the rising healthcare awareness among people, the increasing geriatric population, the growing number of medical gas & equipment manufacturing facilities, and the growing government support to promote the adoption of medical gas & equipment in the region. India, China, Japan, and South Korea are the major contributors to the growth of the market in the region.

The report also identifies the country market outlook for medical gas & equipment, covering country-wise market size, growth rate, market share, segmentation, leading players, current trends, and opportunities.

Key Companies in Medical Gas & Equipment Market:

The research report offers a competitive analysis of prominent companies operating in the global medical gas & equipment market. Some of the leading players profiled in the market research report include:

·         Amico Group of Companies

·         Atlas Copco

·         The Linde Group

·         Taiyo Nippon Sanso Corporation

·         Air Liquide

·         Air Products and Chemicals, Inc.

·         Praxair, Inc.

·         BeaconMedaes

·         Messer Group GmbH

·         Matheson Tri-Gas Inc.

·         Other Players