According to the report the global medical gas market reached a value of USD 14.34 billion in 2022. Aided by the ever-growing global healthcare sector and the indomitable role of medical gases in various therapeutic, diagnostic, and pharmaceutical applications, the market is projected to further grow at a CAGR of 8.30% between 2023 and 2028 to reach a value of USD 22.97 billion by 2028.
Medical gases, a cornerstone in the vast domain of healthcare, encompass a range of pure gases, mixtures, or services vital for medical use. These gases, inclusive but not limited to oxygen, nitrous oxide, and medical air, are paramount in life-saving procedures, respiratory therapies, and various surgical endeavours. Their pivotal nature extends to driving the functions of equipment like anaesthetic machines and ventilators. Beyond their direct medical application, these gases also find usage in labs, research facilities, and pharmaceutical manufacturing, thereby, boosting the medical gas market expansion.
The inexorable rise in chronic diseases, coupled with the augmented global geriatric population, is a prime catalyst driving the demand in the market. As healthcare facilities globally strive to offer advanced care and treatment, the indispensability of these gases becomes more pronounced. Oxygen therapy, for instance, has seen an upswing, particularly in treating conditions like COPD, asthma, and other respiratory maladies.
Additionally, the realm of medical surgeries and operations remains incomplete without the integration of medical gases. Anaesthetics primarily employ nitrous oxide, underscoring its importance. Simultaneously, the upsurge in medical tourism, especially in regions like Asia-Pacific, further magnifies the demand for these gases, given the intricate surgeries and medical procedures performed.
Pharmaceutical manufacturing is another segment accentuating the medical gas market growth. These gases, especially high purity ones, are integrated into the production processes of various drugs and pharmaceuticals. Their role in ensuring the purity of these medicines and fostering an environment conducive for their creation is undebatable.
Recent years have also witnessed a growing cognisance of the importance of medical gas in research and laboratory settings. Their pivotal role in various scientific experiments and clinical trials, spanning from cell cultivation to drug testing, has solidified their demand.
Yet, the most recent push to the medical gas market came from the global health crisis, the COVID-19 pandemic. The sudden surge in patients requiring respiratory aid catapulted the demand for medical oxygen to unprecedented levels. Hospitals and healthcare centres scrambled for an uninterrupted supply, drawing attention to the criticality of an efficient and robust medical gas infrastructure.
Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Medical gases, a cornerstone in the vast domain of healthcare, encompass a range of pure gases, mixtures, or services vital for medical use. These gases, inclusive but not limited to oxygen, nitrous oxide, and medical air, are paramount in life-saving procedures, respiratory therapies, and various surgical endeavours. Their pivotal nature extends to driving the functions of equipment like anaesthetic machines and ventilators. Beyond their direct medical application, these gases also find usage in labs, research facilities, and pharmaceutical manufacturing, thereby, boosting the medical gas market expansion.
The inexorable rise in chronic diseases, coupled with the augmented global geriatric population, is a prime catalyst driving the demand in the market. As healthcare facilities globally strive to offer advanced care and treatment, the indispensability of these gases becomes more pronounced. Oxygen therapy, for instance, has seen an upswing, particularly in treating conditions like COPD, asthma, and other respiratory maladies.
Additionally, the realm of medical surgeries and operations remains incomplete without the integration of medical gases. Anaesthetics primarily employ nitrous oxide, underscoring its importance. Simultaneously, the upsurge in medical tourism, especially in regions like Asia-Pacific, further magnifies the demand for these gases, given the intricate surgeries and medical procedures performed.
Pharmaceutical manufacturing is another segment accentuating the medical gas market growth. These gases, especially high purity ones, are integrated into the production processes of various drugs and pharmaceuticals. Their role in ensuring the purity of these medicines and fostering an environment conducive for their creation is undebatable.
Recent years have also witnessed a growing cognisance of the importance of medical gas in research and laboratory settings. Their pivotal role in various scientific experiments and clinical trials, spanning from cell cultivation to drug testing, has solidified their demand.
Yet, the most recent push to the medical gas market came from the global health crisis, the COVID-19 pandemic. The sudden surge in patients requiring respiratory aid catapulted the demand for medical oxygen to unprecedented levels. Hospitals and healthcare centres scrambled for an uninterrupted supply, drawing attention to the criticality of an efficient and robust medical gas infrastructure.
Market Segmentation
The market can be divided based on product, mode of delivery, application, end-use, and region.Market Breakup by Product
- Pure Gases
- Gas Mixtures
Market Breakup by Mode of Delivery
- High-Pressure Cylinders
- Liquid Tanks
- Bulk Delivery
Market Breakup by Application
Therapeutic
- Respiratory Therapies
- Cardiovascular Therapies
- Anaesthesia Delivery
- Cryosurgery
- Others
Diagnostics
- Medical Imaging
- General Laboratory Applications
- Others
Pharmaceutical Manufacturing and Research
- Drug Discovery
- Pharmaceutical Manufacturing
- Process Development
- Quality Control
- Others
Market Breakup by End-Use
- Hospitals
- Ambulatory Surgical Centres
- Home Healthcare
- Pharmaceutical and Biotechnology Companies
- Diagnostic and Research Laboratories
- Academic and Research Institutions
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global medical gas companies. Some of the major key players explored in the report are as follows:- Air Products and Chemicals, Inc.
- Air Liquide S.A
- Linde plc
- Taiyo Nippon Sanso Corporation
- Messer SE & CO
- SOL Spa
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market15 Value Chain Analysis17 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Market Snapshot
8 Global Medical Gas Market Analysis
9 North America Medical Gas Market Analysis
10 Europe Medical Gas Market Analysis
11 Asia Pacific Medical Gas Market Analysis
12 Latin America Medical Gas Market Analysis
13 Middle East and Africa Medical Gas Market Analysis
14 Market Dynamics
16 Competitive Landscape
Companies Mentioned
- Air Products and Chemicals, Inc.
- Air Liquide S.A
- Linde plc
- Taiyo Nippon Sanso Corporation
- Messer SE & CO
- SOL Spa
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | August 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 15.42 Billion |
| Forecasted Market Value ( USD | $ 22.97 Billion |
| Compound Annual Growth Rate | 8.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
