Medical Gas and Equipment Market Report 2025

The medical gas and equipment market size has grown strongly in recent years. It will grow from $21.99 billion in 2024 to $23.79 billion in 2025 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to personalized medicine initiatives, education and awareness campaigns, pandemic responses, healthcare advancements, global healthcare trends.

The medical gas and equipment market size is expected to see rapid growth in the next few years. It will grow to $35.15 billion in 2029 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to increasing healthcare expenditure, rise in chronic diseases, COVID-19 pandemic impact, shift towards home healthcare, demand in emerging markets. Major trends in the forecast period include cost efficiency and accessibility, awareness and education, personalized medicine, telemedicine and remote monitoring, focus on green technology.

The rising prevalence of respiratory diseases is expected to drive growth in the medical gas and equipment market in the coming years. Respiratory diseases refer to conditions that affect the lungs and other parts of the respiratory system. Medical gases and equipment are essential for treating these diseases, and an increase in their prevalence will lead to market expansion. For example, the 2023 Global Tuberculosis Report from the World Health Organization (WHO), a Switzerland-based intergovernmental organization, indicated that the estimated global incidence of tuberculosis (TB) rose to 10.6 million cases in 2022, with an incidence rate of 136 cases per 100,000 population, continuing an upward trend from 2021. This rise highlights the growing prevalence of respiratory diseases, which further fuels the demand for medical gases and equipment necessary for their treatment and management.

The escalating count of surgical procedures marks a pivotal driver for the burgeoning medical gas and equipment market. Surgical interventions, involving incisions to treat or remove damaged tissues, heavily rely on these supplies for patient safety and procedural efficacy. Recent data from the Organization for Economic Co-operation and Development (OECD) in October 2023 showcased an 8.4% surge in cataract surgeries in the Czech Republic, reaching 142,670 procedures in 2022. This surge in surgical interventions significantly contributes to the market's upward trajectory.

Product innovation is a prominent trend gaining traction in the medical gas and equipment market. Leading companies in this sector are increasingly focused on developing new technological solutions to enhance their competitive position. For example, in March 2023, Polarean Imaging, a US-based medical drug-device combination company, received FDA approval for Xenoview, the first and only inhaled MRI hyperpolarized contrast agent derived from xenon-129 gas. This groundbreaking agent facilitates improved MRI assessments of lung ventilation for patients aged 12 and older, enabling novel visualization of lung function without the risks associated with ionizing radiation. This development represents a significant advancement in the field of pulmonary medicine.

Strategic technological innovations, like manifold changeover systems, are empowering companies within the medical gas and equipment sector to gain a competitive edge. These systems, ensuring consistent medical gas supply, constitute a critical advancement in healthcare settings. BeaconMedaes' July 2023 introduction of the MAT-S Automatic Manifold Changeover System exemplifies this drive. Featuring a dome-bias regulator design, it minimizes connections, reducing potential leakages. This system's intelligent design reduces maintenance costs and enhances operational efficiency, aligning with international standards and catering to primary and backup medical gas supplies.

In January 2022, Medical Technology Associates Inc., a healthcare compliance company headquartered in the US, successfully acquired Gasmedix LLC for an undisclosed sum. This strategic acquisition significantly bolstered MTA's service capabilities in the Midwest region. It provided MTA with access to GasMedix's specialized expertise in medical gas services, equipment, and compliance testing, consequently amplifying MTA's footprint in the region. This expansion allows for standardized medical gas testing services across a wider spectrum of healthcare facilities. Gasmedix LLC, a US-based company, specializes in providing medical gas testing services and maintenance for anesthesia machines, catering specifically to the healthcare community.

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.

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. The countries covered in the medical gas and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Medical gas and equipment encompass the gases utilized in healthcare settings and the devices involved in their delivery and regulation. These gases are crucial for a range of medical procedures, including anesthesia, respiratory support, and the operation of surgical tools. The associated equipment is designed to control the distribution and ensure the safe administration of these gases to patients, thereby facilitating proper treatment and care in hospitals and clinics.

The realm of medical gas and equipment, various categories exist, including medical gases, medical gas mixtures, biological atmospheres, and medical gas equipment. Medical gases, packaged for human treatment, consist of one or more gases specifically intended for therapeutic or diagnostic purposes. These gases find application across diverse medical domains such as respiratory therapy, anesthesia, medical imaging, cryosurgery, and diagnostics. They cater to an array of end users, including hospitals, research institutions, home healthcare providers, pharmaceutical and biotechnology industries, as well as emergency services.

The medical gas and equipment market research report is one of a series of new reports that provides medical gas and equipment market statistics, including medical gas and equipment industry global market size, regional shares, competitors with a medical gas and equipment market share, detailed medical gas and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the medical gas and equipment industry. This medical gas and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The medical gas and equipment market consists of sales of liquid oxygen, compressed oxygen, nitrogen, and compressed air. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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