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Global Medical Gas Market Share, Size, Growth, Forecast: By Product: Pure Gases, Gas Mixtures; By Mode of Delivery: High-Pressure Cylinders, Liquid Tanks, Bulk Delivery; By Application: Therapeutic, Diagnostics, Pharmaceutical Manufacturing and Research, Other; By End-Use; Regional Analysis; Competitive Landscape; 2024-2032
Global Medical Gas Market Outlook
The global medical gas market size reached a value of nearly USD 15.53 billion in 2023. The market is estimated to grow at a CAGR of 8.2% between 2024 and 2032, reaching a value of around USD 31.60 billion by 2032.
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Global Medical Gas Market Trends
Gases utilised during medical procedures are known as medical gases. Such gases are used for anaesthetic applications, in therapy, and to operate medical equipment and gadgets. There are various types of medical gases such as oxygen, nitrous oxide, nitrogen, and carbon dioxide. It is crucial for healthcare facilities to maintain the availability of medical gases to avoid any unexpected failure.
- The growing incidences of chronic respiratory diseases, such as pulmonary hypertension, chronic obstructive pulmonary disease, asthma, and occupational lung diseases, among others, are adding on to the demand for medical gases for therapeutic applications.
- The growth of the pharmaceutical manufacturing and research activities is likely to enhance the utilisation of medical gases further.
- The increasing demand for point-of-care diagnostics and home healthcare services, supported by the growing geriatric population, is anticipated to propel the market growth of medical gases. The trend of home healthcare is also likely to surge the demand for packaged medical gases in upcoming years.
Opportunities and Challenges in the Market
The oxygen demand is rising rapidly due to the increasing utilisation of the gas in healthcare facilities. Hospitals are also stockpiling oxygen especially after the significant disruption in the oxygen market and supply chain breakdown during the COVID-19 pandemic.
The demand for medical gases is expected to surge in developing nations such as China, India, and Brazil, among others, owing to the growing medical infrastructure and rising accessibility to treatments and surgical procedures.
Technological advancements in medical gas handling equipment to provide better patient care and the development of portable devices are expected to further augment the medical gas market expansion in the coming years.
However, the high cost of medical gases and associated equipment poses a significant challenge to the market growth. The production costs are heavily affected by the price of raw materials and the requirement for specialised equipment. The market is additionally challenged by strict laws governing the use and supply of medicinal gases.
Global Medical Gas Market Analysis
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Based on the product, the market can be segmented into pure gases and gas mixtures. By mode of delivery, it can be divided into high-pressure cylinders, liquid tanks, and bulk delivery. The market for medical gas, based on application, can be categorised into therapeutic, diagnostics, and pharmaceutical manufacturing and research, among others.
Based on end-use, the market divisions include hospitals, ambulatory surgical centres, home healthcare, pharmaceutical and biotechnology companies, diagnostic and research laboratories, and academic and research institutions. The regional markets for medical gas can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global medical gas market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Air Products and Chemicals, Inc.
- Air Liquide S.A
- Linde plc
- Taiyo Nippon Sanso Corporation
- Messer SE & CO
- SOL Spa
- Others
The Pure Gases Segment Holds a Significant Medical Gas Market Share
In terms of revenue, the pure gas sector is anticipated to be one of the major segments during the forecast period. The growth of this market segment can be attributed to factors, including the rising incidences of chronic illness, the increasing number of patient hospitalisations, and surging cases of road accidents.
The oxygen segment is anticipated to experience a healthy growth in pure gases over the forecast period. As oxygen plays a crucial role in respiratory support and forms the foundation for all contemporary anaesthetic operations and life support for patients who are artificially ventilated, its rising demand is likely to bolster the overall medical gas market development in the forecast period.
Growing Demand for Medical Gases in Therapeutic Applications to Aid the Market
There is a growing use of medical gases in therapeutic applications, including pain management and anaesthesia, among others. Gases used in therapeutic applications are regarded as medications and are subject to strict purity and quality standards. Some of the most common therapeutic gases include oxygen, medical air, nitric oxide, carbon dioxide, and helium-oxygen mixes.
The rapid development of the segment can be attributed to the expanding use of medical gases in general laboratory applications. The growing applications of medical gases for controlled aerobic or anaerobic incubator settings in biological cell culture or tissue growth in laboratories are further propelling the market growth.
Global Medical Gas Market Share Based on Region
North America holds a considerable share in the market due to the expanding use of medical gases in the management of respiratory conditions, including COPD and asthma.
The demand for medical gases is expected to increase in the United States throughout the forecast period due to the increasing prevalence of COPD, asthma, and other illnesses including cardiovascular and lifestyle-related disorders. In addition, the existence of state-of-the-art medical facilities, notably intensive care units, and a growing geriatric population base are likely to favour the demand for medical gases in the coming years.
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Medical Gas Market Competitive Landscape
Air Products and Chemicals, Inc. is a global leader in industrial gases with a focus on the energy, environmental, and developing sectors. The core business of Air Products is to supply vital industrial gases, associated equipment, and application knowledge to clients across a wide range of sectors, such as refining, chemicals, metals, electronics, manufacturing, and food. The company has engineered and built world-scale industrial gas complexes which are operated to supply hydrogen, nitrogen, oxygen and steam. The company is headquartered in Pennsylvania, the United States.
Air Liquide S.A. provides industrial gases and services to a variety of sectors, including pharmaceuticals, chemicals, and electronics. It is a French multinational firm that was established in 1902 and is one of the largest providers of industrial gases in the world. Oxygen, nitrogen and hydrogen are essential gases for various sectors and have been at the core of the company’s activities since its establishment.
Linde plc is a prominent industrial gas firm. It serves several end markets including chemicals and energy, food and beverage, electronics, healthcare, manufacturing, metals, and mining, among others. Industrial gases from the company are utilised in a wide range of applications, including the production of high-purity and speciality gases for electronics manufacturing and hydrogen for clean fuels, among others.
Other market players include Taiyo Nippon Sanso Corporation, Messer SE & CO, and SOL Spa, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Mode of Delivery |
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| Breakup by Application |
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| Breakup by End-Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Medical Gas Market Analysis
8.1 Key Industry Highlights
8.2 Global Medical Gas Historical Market (2017-2023)
8.3 Global Medical Gas Market Forecast (2024-2032)
8.4 Global Medical Gas Market by Product
8.4.1 Pure Gases
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Gas Mixtures
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.5 Global Medical Gas Market by Mode of Delivery
8.5.1 High-Pressure Cylinders
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Liquid Tanks
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Bulk Delivery
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.6 Global Medical Gas Market by Application
8.6.1 Therapeutic
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.1.3.1 Breakup by Type
8.6.1.3.1.1 Respiratory Therapies
8.6.1.3.1.2 Cardiovascular Therapies
8.6.1.3.1.3 Anaesthesia Delivery
8.6.1.3.1.4 Cryosurgery
8.6.1.3.1.5 Others
8.6.2 Diagnostics
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.2.3.1 Breakup by Type
8.6.2.3.1.1 Medical Imaging
8.6.2.3.1.2 General Laboratory Applications
8.6.2.3.1.3 Others
8.6.3 Pharmaceutical Manufacturing and Research
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.3.3.1 Breakup by Type
8.6.3.3.1.1 Drug Discovery
8.6.3.3.1.2 Pharmaceutical Manufacturing
8.6.3.3.1.3 Process Development
8.6.3.3.1.4 Quality Control
8.6.4 Others
8.7 Global Medical Gas Market by End-Use
8.7.1 Hospitals
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2017-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Ambulatory Surgical Centres
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2017-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Home Healthcare
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2017-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Pharmaceutical and Biotechnology Companies
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2017-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Diagnostic and Research Laboratories
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2017-2023)
8.7.5.3 Forecast Trend (2024-2032)
8.7.6 Academic and Research Institutions
8.7.6.1 Market Share
8.7.6.2 Historical Trend (2017-2023)
8.7.6.3 Forecast Trend (2024-2032)
8.8 Global Medical Gas Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2017-2023)
8.8.1.3 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2017-2023)
8.8.2.3 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2017-2023)
8.8.3.3 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2017-2023)
8.8.4.3 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2017-2023)
8.8.5.3 Forecast Trend (2024-2032)
9 North America Medical Gas Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2017-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2017-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Medical Gas Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2017-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2017-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2017-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2017-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Medical Gas Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2017-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2017-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2017-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2017-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2017-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Medical Gas Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2017-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2017-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2017-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Medical Gas Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2017-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2017-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2017-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2017-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Air Products and Chemicals, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Air Liquide S.A
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Linde plc
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Taiyo Nippon Sanso Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Messer SE & CO
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 SOL Spa
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Medical Gas Market: Key Industry Highlights, 2017 and 2032
2. Global Medical Gas Historical Market: Breakup by Product (USD Billion), 2017-2023
3. Global Medical Gas Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Medical Gas Historical Market: Breakup by Mode of Delivery (USD Billion), 2017-2023
5. Global Medical Gas Market Forecast: Breakup by Mode of Delivery (USD Billion), 2024-2032
6. Global Medical Gas Historical Market: Breakup by Application (USD Billion), 2017-2023
7. Global Medical Gas Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Medical Gas Historical Market: Breakup by End-Use (USD Billion), 2017-2023
9. Global Medical Gas Market Forecast: Breakup by End-Use (USD Billion), 2024-2032
10. Global Medical Gas Historical Market: Breakup by Region (USD Billion), 2017-2023
11. Global Medical Gas Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Medical Gas Historical Market: Breakup by Country (USD Billion), 2017-2023
13. North America Medical Gas Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Medical Gas Historical Market: Breakup by Country (USD Billion), 2017-2023
15. Europe Medical Gas Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Medical Gas Historical Market: Breakup by Country (USD Billion), 2017-2023
17. Asia Pacific Medical Gas Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Medical Gas Historical Market: Breakup by Country (USD Billion), 2017-2023
19. Latin America Medical Gas Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Medical Gas Historical Market: Breakup by Country (USD Billion), 2017-2023
21. Middle East and Africa Medical Gas Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Medical Gas Market Structure
Key Questions Answered in the Report
In 2023, the global market for medical gas reached a size of nearly USD 15.53 billion.
The market is projected to grow at a CAGR of 8.2% between 2024 and 2032.
The market is estimated to reach a value of around USD 31.60 billion by 2032.
The growing geriatric population around the world and the increasing demand for medical gases such as oxygen are some of the major factors driving the market growth.
The growing healthcare sector in emerging nations, the increasing prevalence of respiratory issues, and the increasing trend of home healthcare are the key trends driving the market growth of medical gas.
The major regions in the market include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various products considered in the market report include pure gases and gas mixtures.
The major modes of delivery of medical gas include high-pressure cylinders, liquid tanks, and bulk delivery.
The significant applications of medical gas include therapeutic, diagnostics, and pharmaceutical manufacturing and research, among others.
The several end-uses of medical gas include hospitals, ambulatory surgical centres, home healthcare, pharmaceutical and biotechnology companies, diagnostic and research laboratories, and academic and research institutions.
The key players in the market include Air Products and Chemicals, Inc., Air Liquide S.A, Linde plc, Taiyo Nippon Sanso Corporation, Messer SE & CO, and SOL Spa, among others.
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