Medical Gas And Equipment Market Trends, Industry Analysis And Forecast To 2034

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What Does The Medical Gas And Equipment Market Forecast Reveal About The Market Size and Growth?
The medical gas and equipment market size has seen robust growth over the past few years and is set to continue this trend. The market, which was worth $21.99 billion in 2024, is projected to reach $23.79 billion in 2025, with a compound annual growth rate (CAGR) of 8.2%. Factors contributing to this encouraging development in the historic period include personalized medicine initiatives, education and awareness campaigns, pandemic responses, and advancements in healthcare.
The market is expected to achieve rapid growth in the coming years, reaching $35.15 billion in 2029 at a CAGR of 10.2%. The anticipated growth can be attributed to rising healthcare expenditure, increased incidence of chronic diseases, impact of the COVID-19 pandemic, a shift towards home healthcare, and demand in emerging markets. Significant trends that will shape the period include cost efficiency and accessibility, awareness and education, personalized medicine, telemedicine and remote monitoring, and a focus on green technology.
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What Is Driving Growth In The Medical Gas And Equipment Market?
The growing prevalence of respiratory diseases is expected to be a significant driver of the medical gas and equipment market growth. Medical gases and equipment are integral to the treatment of respiratory diseases, and the rise of these ailments will fuel market growth. For instance, the World Health Organization (WHO) reported in its 2023 Global Tuberculosis Report that global incidence of tuberculosis (TB) increased to 10.6 million cases in 2022, underscoring the growing prevalence of respiratory diseases.
What Are The Segments of The Medical Gas And Equipment Market?
The medical gas and equipment market covered in this report is segmented by:
1) Type: Medical Gases, Medical Gas Mixtures, Biological Atmospheres, Medical Gas Equipment
2) Application: Respiratory, Anesthesia, Medical Imaging, Cryosurgery, Therapeutic, Diagnostic
3) End-User: Hospitals, Research Institutions, Home Healthcare, Pharmaceutical Industry And Academic, Biotechnology Industry, Emergency Service
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Who Are The Major Players In The Medical Gas And Equipment Market?
Major companies in the medical gas and equipment market include 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 Ltd., Calea, Cryofab Inc., EKOM spol. s r.o., Far East Gas Co. Ltd., and Gascon Systems Pty Ltd.
What Are The Emerging Trends In The Medical Gas And Equipment Market?
Product innovation is a key trend gaining popularity in the medical gas and equipment market. For instance, 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 made from xenon-129 gas. This new agent enhances MRI evaluations of lung ventilation for patients aged 12 and older, enabling improved visualization of lung function without the risks associated with ionizing radiation.
What Does The Regional Analysis In The Medical Gas And Equipment Market Report Indicate?
In 2024, North America was the largest region in the medical gas and equipment market while Asia-Pacific is set to be the fastest-growing region in the forecast period. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Medical Gas And Equipment Market Report 2025 Offer?
Medical gas and equipment refer to the gases used in healthcare settings and the devices associated with their delivery and regulation. These gases are essential for various medical procedures, including anesthesia, respiratory support, and surgical tool operation. The equipment help control the distribution and safe administration of these gases to patients, ensuring proper treatment and care across hospitals and clinics. The Medical Gas And Equipment Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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