Medical Gas Equipment Market Size, Trends, Report 2023-2032
The global medical gas equipment market was surpassed at USD 2.38 billion in 2022 and is expected to hit around USD 5.07 billion by 2032, growing at a CAGR of 7.86% from 2023 to 2032. The medical gas equipment market in the United States was accounted for USD 776.7 million in 2022.
Key Pointers
Report Scope of the Medical Gas Equipment Market
| Report Coverage | Details |
| Market Size in 2022 | USD 2.38 billion |
| Revenue Forecast by 2032 | USD 5.07 billion |
| Growth rate from 2023 to 2032 | CAGR of 7.86% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Companies Covered | Air Liquide S.A.; Atlas Copco Group; Linde plc; Airgas Inc.; Allied Healthcare Products Inc.; Powerex; Amico Corp; Gentec Corp.; Taiyo Nippon Sanso Corporation; and Colfax Corporation (GCE group AB) |
The growth of the market is attributed to factors such growing prevalence of chronic diseases, increasing demand for home healthcare services, and the need for advanced medical equipment in hospitals and clinics. In addition, the increasing geriatric population, advancements in medical technology, and government initiatives to improve healthcare infrastructure are also contributing to the growth of the medical gas equipment industry.
Medical gases are used in various healthcare settings such as hospitals, clinics, and home healthcare to support patient care and treatment. Advancements in technology have also boosted the demand for medical gas equipment. For instance, digital flowmeters have replaced traditional flowmeters in many healthcare settings, as they offer more precise measurements and greater accuracy. They also allow for real-time monitoring of gas flow rates, which is important in critical care settings.
Furthermore, supportive government initiatives have also contributed to the market growth. For instance, in January 2023, the U.S. government announced providing 285 oxygen concentrators to both provincial and district hospitals and 100 oxygen cylinders to every hospital in Mozambique.Similarly, in December 2020, the U.S. government announced to provide funding of USD 2.6 million that aims to assist in the development of medical oxygen systems in Tajikistan as part of its response to the COVID-19 pandemic. Moreover, in 2020, the U.S. government had already given Tajikistan nearly USD 5 million in medical aid to fight against COVID-19, and the oxygen support program is an additional contribution to that.
The COVID-19 pandemic has also led to an increase in the number of patients requiring home healthcare services. As a result, there has been a greater need for portable and home-use medical gas equipment, such as oxygen concentrators and portable oxygen cylinders. Moreover, there was a surge in demand for medical gases such as oxygen, as patients with COVID-19 often require respiratory support.
Product Insights
The vacuum systems dominated the market in 2022 accounting for a share of 31.56%. The growth of the market is attributed to the factors such as high usage rates and higher prices. As medical procedures become increasingly complex and diverse, the use of vacuum systems and pumps has become essential for the safe and efficient delivery of medical gases. Moreover, advanced equipment can provide accurate and reliable suction power. This is particularly important in surgical procedures where the suction of fluids and gases is critical for patient safety.
Masks have also been identified as a particularly attractive market segment. This is primarily because they have low manufacturing costs and high usage rates. As a result, they are expected to experience significant growth over the forecast period. Additionally, regulators and medical gas outlets are also expected to witness significant growth. The growing number of initiatives addressing safety issues has encouraged several key players to frequently update their product portfolio, which is expected to drive segment growth during the forecast period.
On the other hand, manifolds segment accounted for the second-largest market share in 2022. Manifolds are used to provide a continuous supply of medical gases to pipeline systems in medical facilities. This makes them an integral part of the transportation of gases, which in turn boosts the market growth. Furthermore, the increasing need for medical gases in hospitals and ambulatory surgical centers is driving up the demand for manifolds, thus contributing to market growth.
End-use Insights
The hospital segment dominated the market in 2022 with a revenue share of 28.66%. Medical gas equipment is important for several medical procedures and helps ensure patient safety and comfort. It includes gas cylinders, pressure regulators, flow meters, and other devices that control the flow and pressure of gases. In July 2018, an article published in MDPI stated that the usage of medicinal gases in hospitals is linked to the amount of medical activity, as these gases are solely used for patient care. The utilization of medical gases is directly proportional to the rise in hospital activity. For instance, a surge in surgical procedures leads to an increase in the usage of nitrogen protoxide, carbon dioxide, oxygen, and medical air. Similarly, a rise in outpatient procedures causes a rise in the consumption of oxygen.
The home healthcare segment is projected to witness the fastest CAGR of 9.29% in the coming years. It offers patients to receive medical treatment at home. In-home healthcare, medical gases such as oxygen and nitrogen are used to treat patients with respiratory conditions or chronic obstructive pulmonary disease (COPD). Patients can use portable oxygen concentrators or compressed gas cylinders, which are delivered to their homes and connected to oxygen delivery systems.
Medical gas cylinder technology has advanced significantly, introducing new composite cylinders that are lightweight and have non-limited life (NLL). These cylinders have the potential to have a major impact on homecare treatments, portable oxygen therapies, and medical gas applications in the near future. Patients receiving healthcare at home would benefit from these cylinders, as they are much lighter than those made of aluminum. These advancements in medical gas equipment are driving the growth of the market.
Regional Insights
North America dominated the market in 2022 owing to its highly developed healthcare system, high incidence of minimally invasive procedures, and adoption of rules such as the U.S. Food and Drug Administration Safety and Innovation Act. The necessity for respiratory support devices like oxygen concentrators and ventilators in the region has increased as a result of the COVID-19 outbreak, which has also emphasized the need for medical gas equipment in patient care.
Europe is projected to witness significant growth in the forecast period. The region is anticipated to continue growing as a result of the presence of several organizations such as the European Industrial Gases Association and the Medical Gas Association, which support the development and adoption of medical gas equipment in the area. It is also projected that the highly developed healthcare systems in Western European countries will encourage the expansion of the European market.
Moreover, the expansion of the market in Europe is being driven by a growing use of home healthcare settings in countries such as the U.K., France, Italy, and others. The World Health Organization (WHO) has reported that the region's life expectancy has been increasing steadily in recent years. It is anticipated that the increasing number of elderly people requiring care in Europe will significantly shape the home care settings business in Europe in the near future, which will positively influence the market.
Medical Gas Equipment Market Segmentations:
By Product
By End-use
By Regional
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Medical Gas Equipment Market
5.1. COVID-19 Landscape: Medical Gas Equipment Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Medical Gas Equipment Market, By Product
8.1. Medical Gas Equipment Market, by Product, 2023-2032
8.1.1. Vacuum Systems/Pumps
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Manifolds
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Alarm Systems
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Flowmeters
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Medical Air Compressors
8.1.5.1. Market Revenue and Forecast (2020-2032)
8.1.6. Cylinders and Accessories
8.1.6.1. Market Revenue and Forecast (2020-2032)
8.1.7. Hose Assemblies and Valves
8.1.7.1. Market Revenue and Forecast (2020-2032)
8.1.8. Outlets
8.1.8.1. Market Revenue and Forecast (2020-2032)
8.1.9. Regulators
8.1.9.1. Market Revenue and Forecast (2020-2032)
8.1.10. Masks
8.1.10.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Medical Gas Equipment Market, By End-use
9.1. Medical Gas Equipment Market, by End-use, 2023-2032
9.1.1. Hospitals
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Ambulatory Surgical Centers
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Home Healthcare
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Pharmaceutical And Biotechnology Companies
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Diagnostic and Research Laboratories
9.1.5.1. Market Revenue and Forecast (2020-2032)
9.1.6. Academic and Research Institutions
9.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Medical Gas Equipment Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.2. Market Revenue and Forecast, by End-use (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.4.2. Market Revenue and Forecast, by End-use (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.2. Market Revenue and Forecast, by End-use (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.4.2. Market Revenue and Forecast, by End-use (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.5.2. Market Revenue and Forecast, by End-use (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.6.2. Market Revenue and Forecast, by End-use (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.4.2. Market Revenue and Forecast, by End-use (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.5.2. Market Revenue and Forecast, by End-use (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.6.2. Market Revenue and Forecast, by End-use (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.2. Market Revenue and Forecast, by End-use (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.4.2. Market Revenue and Forecast, by End-use (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.5.2. Market Revenue and Forecast, by End-use (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.6.2. Market Revenue and Forecast, by End-use (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.2. Market Revenue and Forecast, by End-use (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.4.2. Market Revenue and Forecast, by End-use (2020-2032)
Chapter 11. Company Profiles
11.1. Air Liquide S.A.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Atlas Copco Group
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Linde plc
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Airgas Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Allied Healthcare Products Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Powerex
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. abbot
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Amico Corp
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Gentec Corp.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Taiyo Nippon Sanso Corporation
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers