2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What External and Internal Drivers Are Contributing to the Growth of theMedical Gas And Equipment Market?

The escalating number of respiratory diseases is anticipated to stimulate the growth of the medical gas and equipment market. Respiratory diseases, which affect the lungs and other parts of the respiratory system, are typically treated using medical gases and equipment. Therefore, an increase in these diseases contributes to a corresponding expansion in the market. For example, the World Health Organization’s 2023 Global Tuberculosis Report, published by the Switzerland-based intergovernmental organization, pointed out a considerable increase in the global incidence of tuberculosis (TB). The Report noted there were 10.6 million TB cases in 2022, marking an incidence rate of 136 cases per 100,000 population, continuing the upward trajectory from 2021. This rise underscores the growing prevalence of respiratory diseases, thereby further escalating the demand for vital medical gases and equipment for the treatment and control of such conditions.

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#How Will the CAGR of the Medical Gas And Equipment Market Influence Its Overall Growth by 2034?

The market for medical gas and equipment has shown solid growth in the past few years. The growth is expected to continue, increasing from $21.99 billion in 2024 to $23.79 billion in 2025, with a compound annual growth rate (CAGR) of 8.2%. This growth during the historic period is due to factors like personalized medical initiatives, educational activities and awareness campaigns, response to pandemics, advancements in healthcare, and global healthcare trends.

In the coming years, the market for medical gas and equipment is projected to experience swift expansion. The industry’s worth is expected to reach $35.15 billion by 2029, with a compound annual growth rate (CAGR) of 10.2%. Predicted growth over the forecast period is primarily due to factors such as rising healthcare spending, an increase in chronic illnesses, the impact of the COVID-19 pandemic, a shift towards home healthcare, and the demand in emerging markets. Prominent trends to watch during this forecast period are cost efficiency and accessibility, education and awareness, personalised medicine, telemedicine and remote patient monitoring, and a focus on green technology.

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Which Upcoming Market Trends and Innovations Are Set to Influence theMedical Gas And Equipment Market’s Path Forward?

Product innovation has emerged as a prominent trend in the medical gas and equipment market. To solidify their market positions, major businesses in this industry are concentrating on the creation of novel technological solutions. In March 2023, Polarean Imaging, an American company specializing in medical drug-device combinations, earned FDA approval for its unique product Xenoview. This inhaled MRI hyperpolarized contrast agent, the first and only one made from xenon-129 gas, enhances MRI examinations of lung ventilation in patients aged 12 and older. It introduces a new method of visualizing lung function without the dangers of ionizing radiation, thus marking a substantial progression in the field of pulmonary medicine.

Who Are the Dominant Market Players Pushing the Boundaries of theMedical Gas And Equipment Market?

Major companies operating in the medical gas and equipment market are Linde PLC, Praxair Inc., Air Liquide S.A., Atlas Copco AB, Messer Group GmbH, Taiyo Nippon Sanso Corporation, Gas Control Equipment Ltd., Rotarex S.A., SOL S.p.A., Amico Corporation, Air Products and Chemicals Inc., BeaconMedaes LLC, Flogas Britain Limited, Matheson Tri-Gas Inc., SCI Analytical Laboratories Inc., GCE Holding AB, Medical Gas Solutions Ltd., Ohio Medical Corporation, Powerex Corp., Gentec Corporation, Cramer Decker Medical Inc., PCI Gases, Precision Medical Inc., Bay Corporation, Amada Marvel Inc., BPR Medical, Calea, Cryofab Inc., EKOM spol. s r.o., Far East Gas Co. Ltd., Gascon Systems Pty Ltd.

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What Are the Core Segments of the Medical Gas And Equipment Market, and How Do They Contribute to Growth?

The medical gas and equipment market covered in this report is segmented –

1) By Type: Medical Gases, Medical Gas Mixtures, Biological Atmospheres, Medical Gas Equipment

2) By Application: Respiratory, Anesthesia, Medical Imaging, Cryosurgery, Therapeutic, Diagnostic

3) By End-User: Hospitals, Research Institutions, Home Healthcare, Pharmaceutical Industry And Academic, Biotechnology Industry, Emergency Service

Subsegments:

1) By Medical Gases: Oxygen, Nitrous Oxide, Carbon Dioxide, Helium, Nitrogen, Argon, Medical Air

2) By Medical Gas Mixtures: Oxygen-Nitrous Oxide Mixtures, Oxygen-Carbon Dioxide Mixtures, Other Specialty Gas Mixtures

3) By Biological Atmospheres: Anaerobic Atmospheres, Controlled Atmospheres, Refrigerated Atmospheres

4) By Medical Gas Equipment: Regulators, Flow Meters, Manifolds, Gas Cylinders, Pipeline Systems, Safety Systems, Gas Delivery Systems

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