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Global Medical Gases and Equipment Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product, Application, End-users & Region - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 2111
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Medical Gases and Equipment Market Size (2022 to 2027)

The global medical gases and equipment market size is expected to grow USD 29.77 billion by 2027 from USD 19.80 billion in 2022, growing at a CAGR of 8.5% during the forecast period. 

Medical gases and pharmaceutical gases are specialized gases used for medical purposes, drug processing, and various biotechnology applications. Medical gases include pure gases and a mixture of gases for various medical processes. Gas equipment such as cylinders and masks are used to store and deliver gas.

MARKET DRIVERS:

The medical gases and equipment market is expected to be driven by the factors such as rising incidence of respiratory diseases and proliferation of chronic diseases, and technological advancements in the healthcare sector across the world. Also, the rising population and prevalence of tobacco consumption rapidly accelerate market growth. Moreover, the increasing incidence of preterm birth and surge in the geriatric population influences the market growth. In addition, in the recent past, the arrival of the global pandemic has increased the demand for home healthcare services are augmenting the market for medical gases and Equipment.

The rising geriatric population is primarily prone to developing chronic diseases, namely, diabetes, cancer, asthma, respiratory diseases, and cardiovascular diseases, which is expected to boost the market growth. The emerging countries in the APAC region are witnessing market expansion, and the rapid adoption of technologies is propelling the regional market growth. Increasing point of care services and supportive initiatives by the government and private organizations are most likely to encourage market growth. The rising prevalence of chronic respiratory disorders, the implementation of industry-friendly laws (such as the FDA Safety and Innovation Act), and increased biotechnology research are the important drivers that will propel the worldwide medical gases and equipment market throughout the forecast period.

MARKET RESTRAINTS:

The market growth can be restrained due to changes in medical gas calibration standards, the global shortage of helium, and declining federal reimbursements for respiratory therapies. The lack of comprehensive reimbursement schemes and helium scarcity are two factors that would limit market expansion throughout the forecast period. In addition, the Federal Helium Reserve in America would be shut down as a result of the Helium Privatization Act, and the resources would be turned over to the private sector.

Impact of COVID-19 on the global medical gases and equipment market:

The sudden burst of COVID 19 has affected millions of people's lives and affected the medical sector positively and negatively. The COVID 19 has moderately involved the medical gases and equipment market in overcoming the restrictions and creating opportunities for key players. The medical gases and equipment market continues to showcase steady growth at the time of the pandemic period. The demand is prepared to increase as the COVID 19 sudden burst stretches its halt worldwide. Unless and until a pharmacological treatment is available for COVID 19, ventilators remain an essential preference for patients who need emergency care. The majority of the governments ensure industrial gas manufacturers supply gas for medical usage in meeting the huge demand because of COVID 19 pandemic. In April 2020, the government of India permitted industrial oxygen manufacturers to manufacture and sell the gas for medical use.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Product, Application, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

This market research report on the global medical gases and equipment market has been segmented and sub-segmented based on the product, application, end-user, and region.

Medical Gases and Equipment Market – By Product:

  • Medical Gases
    • Pure Medical Gases, by Type
      • Oxygen
      • Carbon Dioxide
      • Nitrogen
      • Nitrous Oxide
      • Medical Air
      • Helium
    • Pure Medical Gases, by Form of Delivery               
      • Pure Gases in High-Pressure Cylinders
      • Pure Gases in Liquid Cylinders
      • Bulk Delivery
  • 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                    
    • Equipment Accessories  
      • Vacuum Systems
      • Manifolds
      • Regulators
      • Flowmeters
      • Suction Regulators
      • Hose
      • Outlets
      • Monitoring Systems (Alarms & Monitors)
    • Oxygen Concentrators   
    • Gas Delivery Systems     
    • Cryogenic Products (Freezers)    

Based on the pure medical gases, the oxygen type segment is predicted to grow at the highest CAGR growth rate during the forecast period due to the large patient pool suffering from respiratory diseases and intensifying many hospitals going through emergency medical care.

The pure gases in the high-pressure cylinders segment are predicted to dominate the delivery of pure medical gases globally. The sweeping usage of the devices amidst the home healthcare setups and hospitals. The majority of the key players in the medical gases and equipment market offer high-pressure cylinders, and these factors push the market forward.

Based on the medical gas mixtures product type, the lung diffusion mixtures segment accounts for the largest market share globally in 2019. The amplifying number of chronic diseases, the high measure of untreated patients, and the rising senior population stipulate global market growth.

The oxygen concentrators segment leads the medical gas equipment due to the usage of various oxygenation and anesthetic mixtures to manage conditions such as renal dialysis and many more.

Medical Gases and Equipment Market – By Application:

  • Therapeutic
    • Respiratory Diseases       
    • Cardiovascular Diseases 
    • Anesthesia          
    • Cryosurgery        
  • Diagnostic                
    • Medical Imaging
    • General Laboratory Use
  • Pharmaceutical Manufacturing and Research
    • Drug Discovery  
    • Process Development    
    • Manufacturing   
    • Quality Control  
  • Other Applications         

The therapeutic application held the highest revenue share in 2019 due to the wide range of medical devices used in treating and managing various disease conditions.                      

Medical Gases and Equipment Market – By End-users:

  • Hospitals
  • Home Healthcare
  • Emergency Services
  • Pharmaceutical Industry
  • Academic & Research Institutions

Based on the end-users, the hospital segments are projected to lead the medical gases and equipment market during the forecast period. They are estimated to account for a market share of 60% between 2020 to 2025. The high usage of medical gases and equipment by hospitals due to increased patient count boosts the market growth.

Home healthcare segment to have significant growth rate in the medical gases and equipment gases. The segment experiences impressive ROI with large-scale demand across hospitals and care centers. Critical care units need substantial support from high-end life support lavishing the growth rate.

Medical Gases and Equipment Market – By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Regionally, North America is the biggest market in terms of market share globally, followed by Europe. The market in North America is highly driven due to factors like the presence of a well-established medical gas market, the high prevalence of patients with respiratory disorders, and a growing aging population. Estimating that the U.S. will be dominating with the largest market share in the overall medical gases and equipment market. The various associations like the European Industrial Gases Association (EIGA) and Medical Gas Association (MGA) in the European region make the closest market with the North America region. The association mainly contributes to the significant share in the medical gases and equipment market. Owing to the population density of nations like China and India, the Asia-Pacific is anticipating the fastest-growing segment. As a result, there is an increase in the expenditure on healthcare in the countries.  

The Medical Gases and Equipment market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to increasing healthcare awareness, rising healthcare expenditures, growth in the aging population, and growth in per capita income.

NOTABLE COMPANIES IN THE MARKET:

The most promising companies dominating the Global Medical Gases and Equipment market profiled in this report are Air Products and Chemicals, Inc., The Linde Group, Air Liquide, Praxair, Inc., Taiyo Nippon Sanso Corp., SOL-SpA, Airgas, Inc., Atlas Copco, Messer Group, GCE Holding AB, Beacon Medaes, Medical Gas Solutions Ltd., Matheson Tri-Gas, Taiya Nippon Sanso and Atlas Copco.

RECENT MARKET DEVELOPMENTS:

  • ALPIFLOW, a next-generation flow meter with a lifetime of over ten years and no further maintenance, was introduced by Ceodeux Meditec in 2018. The device connects directly to the Ceodeux Meditec ALPICONNECT, ALPINOX, or MINOX to control oxygen flow from the hospital pipeline system and portable oxygen cylinders.
  • Air Liquide purchased EOVE (France) in 2018 to expand its presence in the home healthcare industry. LOVE is a new firm specializing in the production of ventilators for people with chronic respiratory failure who live at home.
  • Linde agreed to sell most of its gas business in North America and selected commercial activities in South America to Messer Group and CVC Capital Partners Fund VII in 2018.
  • MediVitop, a revolutionary One-Knob Cylinder Valve with Integrated Pressure Regulator, was released by GCE in 2018.
  • Atlas Copco extended its innovation center in Bretten, Germany, in 2018 to fulfill increased customer demand for testing and development of novel joining methods.

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