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What CAGR And Valuation Are Anticipated For The Medical Gas And Equipment Market?

The market size for medical gas and equipment has seen significant expansion in the past few years. The market is projected to escalate from $21.99 billion in 2024 to $23.66 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%. Factors contributing to the growth during the historic period include initiatives for personalized medicine, campaigns for education and awareness, responses to pandemics, advancements in healthcare, and worldwide healthcare trends.

In the forthcoming years, the market size for medical gas and equipment is predicted to experience robust growth, reaching $34.46 billion by 2029 with a compound annual growth rate (CAGR) of 9.9%. The escalation during the projection period is due to factors such as increased spending in healthcare, proliferation of chronic diseases, the impact of COVID-19 pandemic, the shift towards home healthcare, and burgeoning demand in emerging markets. The primary trends foreseen in this period encompass cost and accessibility efficiency, improved awareness and education, personalized medicine, telemedicine and remote patient monitoring, with a significant attention to green technology.

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What Core Drivers Are Expected To Influence The Medical Gas And Equipment Market?

Rising occurrences of respiratory ailments are anticipated to boost the expansion of the medical gas and equipment market. Respiratory illnesses incorporate disorders that impact the lungs and the respiratory system components. As these diseases increase, so too does the necessity for medical gases and equipment employed in their treatment, consequently bolstering market growth. For example, the 2023 Global Tuberculosis Report published by the Switzerland-based World Health Organization (WHO) revealed that global tuberculosis (TB) incidence escalated to 10.6 million cases in 2022, marking an incidence rate of 136 cases per 100,000 people, extending the growth trend witnessed in the previous year, 2021. This upsurge accentuates the augmented prevalence of respiratory illnesses, further escalating the requirement for medical gases and equipment integral to the treatment and control of such conditions.

What Are The Main Segment Classifications In The Medical Gas And Equipment Market?

The medical gas and equipmentmarket 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

How Are Industry Trends Steering The Expansion Of The Medical Gas And Equipment Market?

Product innovation is becoming a significant trend in the medical gas and equipment sector. The primary firms in this market are prioritizing the creation of innovative technological solutions to fortify their standing. For instance, Polarean Imaging, an American medical drug-device combination firm, attained FDA approval for Xenoview, a first of its kind inhaled MRI hyperpolarized contrast agent, consisting of xenon-129 gas in March 2023. This ground-breaking agent enhances the MRI assessments of lung ventilation for patients who are twelve years or older. It allows unique visualization of the lung operation without the potential hazards associated with ionizing radiation, signifying a notable progress in the field of pulmonary medicine.

Which Companies Are Contributing Significantly To The Medical Gas And Equipment Market Growth?

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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Which Region Holds The Greatest Opportunity For Medical Gas And Equipment Market Expansion?

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.

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