Medical Gas Equipment Market Projected to Reach $40.60 Billion by 2032, Growing at a CAGR of 7.10%

1. Market Overview

The global medical gas equipment market size is expected to reach USD 40.60 billion by 2032, is expected to grow at a CAGR of 7.10% during the forecast period.

The Medical Gas Equipment Market plays a crucial role in the healthcare industry, catering to hospitals, clinics, and home care settings. Medical gas equipment includes devices and systems used to deliver medical gases such as oxygen, nitrous oxide, and carbon dioxide, which are essential for various therapeutic and diagnostic procedures. The market encompasses products like regulators, flowmeters, gas delivery systems, and vacuum systems. With the growing demand for advanced healthcare infrastructure, the importance of reliable and efficient medical gas equipment has risen significantly.

𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:

https://www.polarismarketresearch.com/industry-analysis/medical-gas-equipment-market/request-for-sample

Some of the major players operating in the global market include:

• Air Liquide S.A.
• Airgas Inc.
• Allied Healthcare Products Inc.
• Amico Corp
• Atlas Copco Group
• Colfax Corporation (GCE group AB)
• Gentec Corp.
• Linde plc
• Powerex
• Taiyo Nippon Sanso Corporation

2. Market’s Growth Drivers

The growth of the Medical Gas Equipment Market is fueled by several key drivers:

1. Increasing Prevalence of Chronic Diseases: The rising incidences of respiratory disorders, cardiovascular diseases, and other chronic illnesses have heightened the demand for oxygen therapy and other gas-based treatments.
2. Advancements in Healthcare Infrastructure: Expansion of healthcare facilities, especially in emerging economies, has created a surge in demand for sophisticated medical gas delivery systems.
3. Aging Population: With a growing geriatric population globally, the need for long-term care facilities and home-based medical devices is increasing, boosting the market.
4. Stringent Safety Standards: Regulatory requirements mandating the use of high-quality medical gas equipment ensure a steady demand for innovative and compliant solutions.
5. Technological Innovations: Advancements such as digital monitoring systems and portable medical gas devices are driving the adoption of modern equipment.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.

Medical Gas Equipment Market, Product Outlook (Revenue – USD Billion, 2019-2032)

• Regulators
• Alarm Systems
• Medical Air Compressors
• Cylinders and Accessories
• Hose Assemblies and Valves
• Manifolds
• Vacuum Systems/Pumps
• Flowmeters
• Outlets
• Masks

 Medical Gas Equipment Market, End Use Outlook (Revenue – USD Billion, 2019-2032)

• Diagnostic and Research Laboratories
• Home Healthcare
• Academic and Research Institutions
• Hospitals
• Ambulatory Surgical Centers
• Pharmaceutical And Biotechnology Companies

3. Key Trends

Several trends are shaping the future of the Medical Gas Equipment Market:

1. Adoption of Portable Devices: Portable oxygen concentrators and other compact equipment are becoming increasingly popular, particularly for home care patients.
2. Focus on Energy Efficiency: Manufacturers are prioritizing energy-efficient systems to meet sustainability goals and reduce operational costs.
3. Integration of IoT and Smart Technologies: Smart monitoring systems that provide real-time data and alerts are enhancing the safety and efficiency of medical gas systems.
4. Growth in Emerging Markets: Countries in Asia-Pacific and Latin America are witnessing increased investments in healthcare infrastructure, creating significant growth opportunities.
5. Rising Demand for Customized Solutions: Tailored equipment designed to meet specific healthcare facility requirements is gaining traction.

4. Research Scope

The research scope of the Medical Gas Equipment Market encompasses:

1. Product Segmentation: Analysis of equipment types such as manifolds, regulators, flowmeters, and vacuum systems.
2. End-User Analysis: Examination of usage across hospitals, ambulatory care centers, home care settings, and research institutions.
3. Regional Insights: Study of market dynamics in key regions such as North America, Europe, Asia-Pacific, and the Middle East & Africa.
4. Competitive Landscape: Profiling of major players, including their strategies, product offerings, and market share.
5. Market Forecasting: Projections for market growth, covering trends, challenges, and opportunities over the next decade.

5. Future Outlook

The future of the Medical Gas Equipment Market appears promising, driven by continuous innovations and rising healthcare demands. Key developments expected in the coming years include:

1. Enhanced Regulatory Compliance: Stricter guidelines are likely to ensure higher safety and quality standards, promoting the adoption of advanced equipment.
2. Increased Investments in R&D: Companies are expected to invest heavily in research to develop more efficient, user-friendly, and cost-effective solutions.
3. Expansion of Telemedicine: The integration of medical gas equipment with telemedicine platforms could enable remote monitoring and therapy.
4. Sustainability Initiatives: Eco-friendly manufacturing practices and energy-saving products will be a major focus.
5. Growth in Home Healthcare: The shift towards home-based medical care will continue to drive the demand for portable and easy-to-use gas equipment.

Recent Developments

• March 2023: Atlas Copco AB announced the acquisition of the operational assets of FS Medical Technology Business, which specializes in the sale, inspection, and testing of piped medical and laboratory gas systems and equipment.
• October 2022: ESAB Corporation, a leading global entity in fabrication and gas control technology, disclosed a USD 127 million cash deal to acquire Ohio Medical, LLC (“Ohio Medical”), a global leader in oxygen regulators and central gas systems, from a private investor group.

Healthcare facilities employ medical gases and associated equipment for a wide range of medical procedures. The apparatus used to administer and monitor medicinal gases, such as oxygen and nitrous oxide, is commonly referred to as medical gas equipment.