Analyzing the Future of Medical Gas And Equipment Market Dynamics 2025-2034: Growth Rate, Trends, and Major Opportunities
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What is the Future CAGR of the Medical Gas And Equipment Market, and How Will It Impact Industry Expansion?
Over the past few years, there has been notable growth in the size of the medical gas and equipment market. The market size is projected to increase from $21.99 billion in 2024 to $23.79 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.2%. Factors such as personalized medicine initiatives, education and awareness programs, responses to pandemics, advancements in healthcare, and global healthcare trends have accounted for the growth observed during the historic period.
The market for medical gas and equipment is projected to undergo swift expansion in the coming years. It is poised to reach a valuation of $35.15 billion by 2029, with a compound annual growth rate (CAGR) of 10.2%. Factors such as rising healthcare expenditure, increase in chronic diseases, the impact of the COVID-19 pandemic, shift towards home healthcare, and demand from emerging markets are contributing to this growth projected in the forecast period. Throughout the prediction period, main trends include cost efficiency and accessibility, the promotion of awareness and education, personalized medicine, telemedicine and remote patient monitoring, and a focus on green technology.
What Market Dynamics Are Playing a Key Role in Accelerating the Growth of the medical gas and equipment Market?
As respiratory illnesses continue to rise, so too does the anticipated escalation of the medical gas and equipment market. Respiratory conditions affect the lungs and various segments of the respiratory system, necessitating the usage of medical gases and equipment for treatment. Their growing prevalence thus fuels the growth of this market. For example, the World Health Organization (WHO), a Switzerland-based organization, noted in their 2023 Global Tuberculosis Report that the estimated global incidence of tuberculosis (TB) had risen to 10.6 million cases in 2022, an incidence rate of 136 cases per 100,000 population. This jump from the prior year further highlights the upward trajectory of respiratory diseases and the subsequent rising need for medical gases and equipment vital for their treatment and control.
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What Are the Top Market Players Propelling the Growth of the Medical Gas And Equipment Industry?
Major companies operating in the medical gas and equipment market are:
• Linde PLC_x000D_
• Praxair Inc._x000D_
• Air Liquide S.A._x000D_
• Atlas Copco AB_x000D_
• Messer Group GmbH_x000D_
What Are the Key Trends to Watch in the Medical Gas And Equipment Market Over the Coming Years?
Product innovation is emerging as a major trend in the medical gas and equipment market. Leading companies in this industry are concentrating on creating new technological solutions to consolidate their standing. For instance, Polarean Imaging, an American company that combines medical drugs and devices, attained FDA approval for Xenoview in March 2023. This approval marked the first inhaled MRI hyperpolarized contrast agent using xenon-129 gas. The innovative contrast agent has the ability to enhance MRI assessments of lung ventilation in patients who are 12 years or older. This takes lung function visualization to a new level, without the inherent risks of ionizing radiation, marking a significant progression in the field of pulmonary medicine.
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Which Industry Segments Are Leading the Development and Expansion of the Medical Gas And Equipment Market?
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
What Regions Are Dominating the Medical Gas And Equipment Market Growth?
North America was the largest region in the medical gas and equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical gas and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Do Experts Define the Scope of the Medical Gas And Equipment Market?
Medical gas and equipment refer to the gases used in healthcare settings and the devices associated with their delivery and regulation. These gases are essential for various medical procedures, including anesthesia, respiratory support, and surgical tool operation. The equipment help control the distribution and safe administration of these gases to patients, ensuring proper treatment and care across hospitals and clinics.
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