Medical Gases and Equipment Market Share

Global Medical Gases and Equipment Market Overview

Medical Gases and Equipment Market Size was valued at USD 11.16 billion in 2023. The medical gases and equipment market industry is projected to grow from USD 11.87 Billion in 2024 to USD 16.7 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.36% during the forecast period (2024 - 2032). The increasing demands for home healthcare and point-of-care diagnostics, the rising burden of respiratory diseases, and favorable various government initiatives are the key market drivers boosting the medical gases and equipment market share.

Source Primary Research, Secondary Research, MRFR Database, and Analyst Review

In March 2023, Atlas Copco AB announced the acquisition of the operating assets of FS Medical Technology Business. FS Medical Technology sells, verifies, and tests piped medical and laboratory gas equipment and systems.

Atlas Copco AB announced in January 2023 that it had acquired MedCore Services Inc. This company provides piping works for medical gases such as medical air systems, vacuum systems and pipeline equipment to public health care centers and private clinics throughout Canada.

In October 2022, ESAB Corporation, which is a world leader in fabrication and gas control technology, said that it bought Ohio Medical, LLC (“Ohio Medical”) from a private investor group for $127m in cash. Ohio Medical is a global leader in oxygen regulators and central gas systems.

In April 2022, GE Healthcare had its anesthesia automation software approved by the FDA. Its use is authorized only together with the Aisys CS2 Anesthesia Delivery System manufactured by GE Healthcare.

Gasworld introduced a new event specifically tailored for the medical gases community last February. It sought to prioritize equal access to healthcare services for all people, thus creating an inclusive community.

GCE Healthcare unveiled the Meditec high-pressure regulator in June 2021. The latest development of this regulator featured a revolutionary design combining extensive manufacturing experience with expert knowledge of medicine, reflecting GCE Healthcare’s unwavering commitment to innovation and excellence in this field.

Air Liquide made public the news of acquiring Sasol's Air Separation Units (ASU) located in Secunda, South Africa, which was completed on July 1st, 2020. Such acquisition will enable Air Liquide to create at this site its largest oxygen production complex globally reducing CO2 emissions there by approximately 30-40% within ten years.

On top of that, Rotarex has presented the newest generation of Alpinox pressure regulators for medical gases, blending inventive features with reliable construction and ergonomic design in a light, compact size.

Healthcare institutions employ medical gases and equipment for a variety of medical procedures. Medical gases, such as helium, carbon dioxide, oxygen, nitrous oxide, and others, are utilized for therapeutic, diagnostic, or anesthetic purposes. Because respiratory conditions such as chronic obstructive pulmonary disease (COPD), emphysema, and asthma are becoming more common, there is a greater need for medical gases and equipment. As a result, the market share for medical gases and equipment has increased. Cardiovascular illnesses, including angina and heart failure, are also treated with oxygen therapy. Adding more oxygen can help the heart receive more of it and work less hard, alleviating symptoms and avoiding consequences.

Three categories can be used to categorize the market for this product: pure gas (medical grade), mixtures containing one or more other components, such as air, nitrous oxide, or carbon dioxide, and products used in a wide range of medical and healthcare settings. As a result, cardiovascular disorders such as heart failure and angina are increasing, further fueling demand for medical gases and equipment and boosting their market share. Medical gases are provided to the patients Through various delivery methods, including central pipeline systems, gas cylinders, and liquid oxygen systems. The increase in the incidence of chronic diseases like cancer, diabetes, asthma, and cardiovascular illnesses would be a key factor boosting the growth rate of the medical gases-equipment market. Preterm birth rates are rising, raising demand for medical gas equipment and accelerating market growth. The increase in the population of older people is a crucial factor contributing to the market's growth. Additionally, rising healthcare costs and technological innovation are the main factors that will accelerate market expansion.

News:

Blue-Zone Technologies Ltd. has announced it had signed a letter of intent with Class 1 Incorporated ("Class 1"), Canada's top producer, distributor, and servicer of medical gas equipment. Class 1 uses globally-patented technology to gather and transform waste anesthetic gases (WAGs) from medical facilities. Both parties are considering signing a cooperative agreement to investigate gathering WAGs to send to Blue-Zone. The WAGs collected in storage containers from hospital surgical suites are desorbed in Blue-Zone's production facility using a proprietary technique. Desorption's raw material is subsequently put through Blue-Zone's unique distillation process to create an inhalation anesthetic that is pure, long-lasting, branded, and reusable in operating rooms.

Medical Gases and Equipment Market Trends

• Growing  adoption of point-of-care diagnostics to drive market growth

The increasing prevalence of respiratory diseases and the advancement of point-of-care diagnostics (POCD) are expected to impact the  market for medical gases and equipment significantly. POCD may be necessary for the home healthcare market and medical gases and equipment demand. POCD is a standard method for detecting diseases at the patient's bedside faster than other procedures. POCD is expected to benefit from the rising prevalence of respiratory disorders as the risk of disease transmission increases when a patient visits a healthcare facility. More disorders that cause immobility are expected to drive up demand for medical gases and home healthcare equipment. For major competitors to grow, it may be essential for new products to be introduced that can be customized to customer needs in the  medical gases and equipment market. The advantages of combining a pressure regulator and a cylindrical valve into a single device that completes all required control tasks are becoming increasingly apparent to customers. This also ensures a quicker supply of gas.

In addition, the increasing prevalence of Chronic Respiratory Diseases (CRDs) such as asthma, chronic obstructive pulmonary disease, occupational lung diseases, and pulmonary hypertension is driving demand for medical gases and equipment. According to WHO data, more than 3.0 million people die each year from Chronic Obstructive Pulmonary Disease (COPD), which accounts for approximately 6% of all deaths worldwide and can potentially become the world's third leading cause of death by 2030. Asthma affects nearly 235.0 million people worldwide, according to the same source. These respiratory diseases are treated and diagnosed using medical gases like oxygen, lung gas mixtures, and heliox, thereby driving the medical gases and equipment market CAGR. Besides, the Covid-19 pandemic has resulted in the development of technological inventions to aid in the treatment of respiratory diseases for the many individuals who have been affected. Furthermore, the increasing number of FDA approvals for medical equipment is encouraging  medical gas and equipment market revenue growth.

Medical Gases and Equipment Market Segment Insights

Medical Gases and Equipment Product Insights

The  medical gases and equipment market segmentation based on products includes medical gases, medical gas mixtures, and medical gas equipment. The medical gas mixtures segment held the majority share in 2022, contributing to around ~45-47% of the medical gases and equipment market revenue. A gas mixture is an amalgamation of two or more gases in medical settings. Helium and oxygen are typically combined in hospitals to create various levels for therapeutic requirements. Oxygen mixtures can be made by combining air with supplemental oxygen, either using pressurized cylinders or membrane technology that absorbs it from atmospheric air, resulting in up to 100% concentrations. These techniques help patients at risk of respiratory failure maintain adequate oxygen levels during severe illness by providing additional support. The growing number of patient hospitalizations, increasing prevalence of chronic diseases, and traffic accidents worldwide are major factors further driving the segment's growth. According to the United Nations 2021 statistics, vehicle accidents account for 1.3 million deaths and 50 million injuries yearly. As a result of an increase in traffic accidents, there is a growing demand for oxygen therapy in various long-term care settings, propelling the market expansion for medical gases and equipment.

Medical Gases and Equipment Application Insights

Applications have bifurcated the medical gases and equipment market segmentation into therapeutic, diagnostic, pharmaceutical manufacturing, and research. The therapeutic segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period 2022-2030. This is primarily due to the high prevalence of cardiovascular and respiratory diseases, which has increased the use of medical gases and equipment. Gases used for medical treatment are regarded as medicines and are subject to strict purity and quality standards. The most common therapeutic gases are oxygen, medical air, nitric oxide, carbon dioxide, and helium/oxygen mixtures. Medical oxygen is used extensively in all aspects of healthcare, from anesthesia to inhalation therapy. Besides, nitrous oxide is in high demand in hospitals for use as an analgesic, anesthetic, and refrigerant in cryosurgical procedures. Helium is a gas used in breathing mixtures for patients with weak lungs. Significant advances in the therapeutic applications of medical gas mixtures have increased medical gases and equipment used for various clinical applications.

Figure 1 Medical Gases and Equipment Market, by Application, 2022 & 2030 (USD Billion)

Source Primary Research, Secondary Research, MRFR Database, and Analyst Review

The diagnostics segment is anticipated to gain a lucrative CAGR in the  medical gases and equipment market data during the projected period. The fastest growth can be attributed to its increasing use in diagnostic imaging and regular laboratory applications. Applications for laboratory culture growth include controlled anaerobic or aerobic incubation environments for biological cell or tissue growth. Oxygen-rich mixtures are created under controlled anaerobic conditions, whereas hydrogen- or carbon dioxide-rich mixtures are created under controlled aerobic conditions. Diagnostic medical gases and equipment are also frequently employed for patient diagnostics, including blood gas analyses and lung function testing. For example, MRI scanners using superconductive magnet coils must be cooled with liquid helium. Moreover, test gases calibrate and sustain anesthetic gas-supplying medical instruments. As a result, diverse applications of these gases in diagnostics are expected to drive segment market growth.

News:

For the conversion of modular medical equipment (MSE), the Federal Office of Bundeswehr Equipment, Information Technology, and In-Service Support (BAAINBw) of Germany has a contract with Rheinmetall. The order, expected to be in the mid-single-digit million-euro spectrum, will be finished by December 2023. Zeppelin Mobile Systeme produces a variety of modular ambulance facilities under the brand name MSE containers. Several user states purchased the rescue station, rescue center light, rescue center, and critical hospital variants in the 1970s; these units are receiving a thorough overhaul.

Medical Gases and Equipment Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Medical Gases and Equipment market was worth USD 4.8 billion in 2022 and is projected to grow at a significant CAGR over the study period, owing to the increasing use of associated gases in hospitals for the treatment and management of CVDs, asthma, and COPD, as well as the region's high prevalence of these diseases. In addition, the availability of advanced medical centers, especially intensive care units, a well-established market, and an expanding senior population have contributed to the United States capturing the largest market share. Moreover, the medical gas sector in the United States is undergoing a shift in norms, analysis, and delivery procedures owing to the current increase in the utilization of home oxygen therapy, which is directing to the modernization of medical gas standards and the implications of supply.

Further, the major countries studied in the market report are the U.S., Germany, Canada, France, the UK, Spain, Italy, Japan, India, Australia, China, South Korea, and Brazil.

Figure 2 MEDICAL GASES AND EQUIPMENT MARKET SHARE BY REGION 2022 (%)

Source Primary Research, Secondary Research, MRFR Database, and Analyst Review

The European medical gases and equipment market accounts for the second-largest market share. One of the major factors driving the expansion of this region is the existence of numerous associations, such as the EIGA (European Industrial Gases Association) and MGA (Medical Gas Association), which offer uniform rules and regulations for medical gas manufacturers. Moreover, the medical gases and equipment market in this region is expanding due to a rise in the number of health facilities and an increase in the utilization of home healthcare settings in countries such as the United Kingdom, Italy, France, Germany, and others. The region's life expectancy has increased recently, according to the WHO. The growing number of care-dependent older adults in Europe is expected to radically change Europe's home care settings industry over the coming years, indirectly benefiting the medical gases and equipment industry. Further, the German medical gases and equipment market held the largest market revenue share, and the France medical gases and equipment market was the fastest-growing market in the European region.

The Asia-Pacific Medical Gases and Equipment Market is anticipated to grow at the fastest CAGR from 2022 to 2030. The Asia Pacific demand for medical gases and equipment is primarily driven by the large populations of China and India, rising chronic disease incidence, improved healthcare infrastructure, and increasing healthcare awareness. Additionally, as home-based therapy is becoming more popular in China, the market for medical gases and equipment is seeing a rise in norms and analysis considering different delivery methods. Moreover, China’s medical gases and equipment market held the largest market share, and the Indian medical gases and equipment market was the fastest-growing market in the Asia-Pacific region.

Medical Gases and Equipment Key Market Players & Competitive Insights

Leading medical gases and equipment industry players are launching new products, partnering with other companies, focusing on quality, managing the supply chain, and forming joint ventures to broaden their product offerings. Major market players focus on launching a wide selection of cost-effective products that adhere to safety regulations. Market participants are also pursuing several strategic initiatives to broaden their reach, with notable market developments including new product launches, technological advancements, contractual agreements, mergers and acquisitions, increased R&D spending, and market expansion in emerging nations.

Key players in the medical gas and equipment industry focus on improving product specifications and offering innovative technological solutions to reduce environmental impact and strengthen their positions. The medical gases and equipment market's major players, including Air Liquide, Atlas Copco AB, Airgas Inc, Linde Plc, and others, are working to increase market demand by funding research and development projects for medical gas mixtures. Competitors in the medical gases and equipment industry are now concentrating on developing more compact, affordable, portable medical gas delivery systems that patients can easily transport.

NOVAIR is a French company that manufactures medical gases and equipment such as air plants, vacuum stations, and oxygen generators. NOVAIR develops and manufactures medical gas monitoring systems that effectively manage and control gas quality, pressure, and delivery rates. In January 2022, NOVAIR acquired OGSI-Oxygen generating system Intl., a manufacturer of industrial and medical oxygen generators based in the United States. As part of the agreement, OGSI and the US market will gain increased access to a variety of high-end solutions that complement NOVAIR's existing ranges, such as nitrogen generators and medical PSA oxygen and high-pressure oxygen cylinder filling systems, which will have a positive impact on the medical gases and equipment market outlook.

Also, Aosong (Guangzhou) Electronics Co. Ltd is the world's largest manufacturer of humidity sensors. Aosong offers highly dependable medical gases and equipment solutions that are incredibly cost-effective and easy to install and use. In August 2021, Aosong introduced the AMS2106 intelligent digital gas mass flow meter based on advanced semiconductor technology. This flow meter is now essential for providing cumulative flow measurements, including mixed gas flow detection. It is designed for flexible use and monitoring oxygen flow and other gases in medical industries.

Key Companies in the medical gases and equipment market include

• Praxair Technology Inc


• Atlas Copco AB


• Air Liquide


• Airgas Inc


• Messer Group GmbH


• Matheson Tri-Gas Inc


• Linde Plc


• Nippon Sanso Holdings Corporation


• Amico Corporation

Medical Gases and Equipment Industry Developments

April 2022: Software from GE Healthcare that automates anesthesia and lowers greenhouse gas emissions while performing surgery has received FDA approval. The software has been approved for use with the Aisys CS2 anesthesia delivery system from GE Healthcare.

June 2021: Air Liquide S.A. has agreed to buy South Africa's largest oxygen-production plant. Air Liquide agreed to buy and run the plant as part of a strategic partnership between Sasol and Air Liquide. This strategy is intended to increase the company's medical gases and equipment manufacturing capability and strengthen its competitive position.

June 2021: GCE Healthcare introduced the Meditec high-pressure controller, a new innovative design for the medical gases and equipment industry that combines extensive manufacturing competence and professional medical expertise.

Medical Gases and Equipment Market Segmentation

Medical Gases and Equipment Product Outlook

• Medical Gases


• Medical Gas Mixtures


• Medical Gas Equipment

Medical Gases and Equipment Application Outlook

• Therapeutic


• Diagnostic


• Pharmaceutical Manufacturing


• Research

Medical Gases and Equipment Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America