The medical gases market was valued at $8.5 billion in 2022 and is estimated to reach $16.7 billion by 2032, exhibiting a CAGR of 7% from 2023 to 2032. Medical gases refer to gases that are used in medical procedures, treatments, and therapies to support patient care. These gases play a crucial role in the functioning of hospitals and various healthcare facilities. Hospital medical gas systems necessitate the use of various types of gases, each possessing distinct properties and serving specific purposes. These gases are specifically manufactured, purified, and regulated to meet the stringent standards of medical use. Also, these gases, which are essential for medical procedures, are supplied in medical facilities through specialized systems designed for each gas. These gases are transported through a network of pipes from a central supply source. In some cases, certain gases with low volumes may be supplied either in cylinders.
Medical gases are available in two types, pure medical gases and the mixture of gases. Pure medical gases are gases that are specifically manufactured and purified to meet the stringent standards of medical use. These gases are essential for various medical applications and therapies. Examples of pure medical gases include oxygen, nitrogen, carbon dioxide, helium, and others. On the other hand, mixtures of medical gases are combinations of different pure gases in different compositions used for specific medical applications. Some examples of mixture medical gases include medical air, calibration gases, heliox, and others.
The medical gases market is driven by the high demand for essential gases in the healthcare sector. Oxygen, being the most widely used medical gas, plays a critical role in supporting patients with respiratory conditions. Nitrous oxide serves as an important anesthetic during surgical procedures, while helium facilitates easier breathing for patients. In addition, carbon dioxide gas is used in medical procedures like laparoscopy and hysteroscopy, where it is used to inflate the abdominal cavity or uterus. The diagnostic and treatment need of patients necessitate the use of various medical gases, leading to a substantial demand in the healthcare industry. This increase in demand for medical gases fuels the growth of the medical gases market.
Furthermore, factors that drive the growth of the global medical gases market include an increase in the number of patients suffering from chronic obstructive pulmonary disease (COPD), asthma, and other respiratory diseases. For instance, according to the Centers for Disease Control and Prevention (CDC), the number of visits to emergency departments with COPD as the primary diagnosis was 1.2 million in 2020 in the U.S. Prevalence of chronic and acute conditions such as COPD, pulmonary fibrosis, pneumonia, cystic fibrosis, and others which require medical gases in the diagnosis or treatment is propelling the growth of the market.
However, the medical gases market faces certain restraints that may impede its growth and development. The production and supply of medical gases have stringent regulations to ensure the safety, quality, and reliability of these critical healthcare products. These regulations aim to safeguard patient well-being and maintain the integrity of medical gas systems. Medical gas manufacturers are expected to adhere to GMP guidelines, which establish stringent quality control measures for the production, handling, storage, and distribution of medical gases. This is projected to hinder the medical gases market growth.
On the contrary, the growth of the market is expected to be driven by developing regions. In developing regions, healthcare infrastructure is often underdeveloped than in more developed regions. As a result, developing regions are investing or collaborating in the development and expansion of healthcare facilities, such as hospitals, clinics and outpatient care centers. The development of these facilities creates a need for medical gases to provide patient care with a wide range of medical procedures. This is anticipated to create a lucrative opportunity for market growth.
The medical gases market is segmented on the basis of product, application, end user, and region. On the basis of product, the market is bifurcated as pure medical gases and medical gases mixture. The pure gases segment is further categorized into oxygen, carbon dioxide, nitrous oxide, nitrogen, and others. Whereas the medical gas mixture segment is further divided into medical air and others. On the basis of application, the market is categorized into therapeutics, diagnostics, and others. By end user, the market is classified into hospitals, pharmaceutical and biotechnology companies, diagnostic centers, and others.
By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA). Major players that operate in the market include Air Products and Chemicals, Inc., DCC Plc, Linde plc, Messer Holding GmbH, SOL Spa, Nippon Sanso Holdings Corporation, Air Liquide, PT Samator Indo Gas Tbk., NOL Group and WestAir Gases and Equipment Inc.
Medical gases are available in two types, pure medical gases and the mixture of gases. Pure medical gases are gases that are specifically manufactured and purified to meet the stringent standards of medical use. These gases are essential for various medical applications and therapies. Examples of pure medical gases include oxygen, nitrogen, carbon dioxide, helium, and others. On the other hand, mixtures of medical gases are combinations of different pure gases in different compositions used for specific medical applications. Some examples of mixture medical gases include medical air, calibration gases, heliox, and others.
The medical gases market is driven by the high demand for essential gases in the healthcare sector. Oxygen, being the most widely used medical gas, plays a critical role in supporting patients with respiratory conditions. Nitrous oxide serves as an important anesthetic during surgical procedures, while helium facilitates easier breathing for patients. In addition, carbon dioxide gas is used in medical procedures like laparoscopy and hysteroscopy, where it is used to inflate the abdominal cavity or uterus. The diagnostic and treatment need of patients necessitate the use of various medical gases, leading to a substantial demand in the healthcare industry. This increase in demand for medical gases fuels the growth of the medical gases market.
Furthermore, factors that drive the growth of the global medical gases market include an increase in the number of patients suffering from chronic obstructive pulmonary disease (COPD), asthma, and other respiratory diseases. For instance, according to the Centers for Disease Control and Prevention (CDC), the number of visits to emergency departments with COPD as the primary diagnosis was 1.2 million in 2020 in the U.S. Prevalence of chronic and acute conditions such as COPD, pulmonary fibrosis, pneumonia, cystic fibrosis, and others which require medical gases in the diagnosis or treatment is propelling the growth of the market.
However, the medical gases market faces certain restraints that may impede its growth and development. The production and supply of medical gases have stringent regulations to ensure the safety, quality, and reliability of these critical healthcare products. These regulations aim to safeguard patient well-being and maintain the integrity of medical gas systems. Medical gas manufacturers are expected to adhere to GMP guidelines, which establish stringent quality control measures for the production, handling, storage, and distribution of medical gases. This is projected to hinder the medical gases market growth.
On the contrary, the growth of the market is expected to be driven by developing regions. In developing regions, healthcare infrastructure is often underdeveloped than in more developed regions. As a result, developing regions are investing or collaborating in the development and expansion of healthcare facilities, such as hospitals, clinics and outpatient care centers. The development of these facilities creates a need for medical gases to provide patient care with a wide range of medical procedures. This is anticipated to create a lucrative opportunity for market growth.
The medical gases market is segmented on the basis of product, application, end user, and region. On the basis of product, the market is bifurcated as pure medical gases and medical gases mixture. The pure gases segment is further categorized into oxygen, carbon dioxide, nitrous oxide, nitrogen, and others. Whereas the medical gas mixture segment is further divided into medical air and others. On the basis of application, the market is categorized into therapeutics, diagnostics, and others. By end user, the market is classified into hospitals, pharmaceutical and biotechnology companies, diagnostic centers, and others.
By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA). Major players that operate in the market include Air Products and Chemicals, Inc., DCC Plc, Linde plc, Messer Holding GmbH, SOL Spa, Nippon Sanso Holdings Corporation, Air Liquide, PT Samator Indo Gas Tbk., NOL Group and WestAir Gases and Equipment Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medical gases market analysis from 2022 to 2032 to identify the prevailing medical gases market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the medical gases market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global medical gases market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Product
- Pure medical gases
- Type
- Oxygen
- Carbon dioxide
- Nitrous oxide
- Nitrogen
- Others
- Medical gases mixture
- Type
- Medical air
- Others
By Application
- Therapeutics
- Diagnostics
- Others
By End User
- Hospitals
- Pharmaceutical and biotechnology companies
- Diagnostic centers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Air Products and Chemicals, Inc.
- DCC Plc
- Linde plc
- Messer Holding GmbH
- Nippon Sanso Holdings Corporation
- PT Samator Indo Gas Tbk.
- WestAir Gases And Equipment Inc.
- Air Liquide
- SOL Spa
- NOL Group
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MEDICAL GASES MARKET, BY PRODUCT
CHAPTER 5: MEDICAL GASES MARKET, BY APPLICATION
CHAPTER 6: MEDICAL GASES MARKET, BY END USER
CHAPTER 7: MEDICAL GASES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
The medical gases market is likely to experience a significant growth rate of 7% from 2023-2032 owing to increasing market demand from healthcare sectorMedical gases are used in healthcare facilities to support various medical procedures and treatments. These gases are crucial components that are utilized in healthcare environments for a variety of tasks, such as patient care, diagnostic procedures, and medicinal treatments. The most popular medicinal gas, oxygen, is crucial for patients with respiratory problems because it improves oxygenation and provides crucial breathing support. Furthermore, these gases are essential to the healthcare sector because they assist patient care, anesthesia, surgery, respiratory therapy, and other diagnostic and therapeutic techniques.
Key factors driving the growth of the medical gases market are attributed to the increase in prevalence of respiratory diseases, rise in number of surgical procedures and rise in adoption of home healthcare. As the prevalence of respiratory disorders such as asthma, COPD, and pneumonia is rising, this has resulted in an increase in demand for medical gases to provide respiratory support to the patients. These conditions often require supplemental oxygen to aid breathing and maintain adequate oxygen levels in the blood. As the number of individuals affected by such respiratory ailments rises, healthcare facilities and providers must ensure an adequate supply of medical gases like oxygen to meet the growing patient needs and improve overall respiratory care outcomes.
In addition, the rise in adoption of home healthcare is also a key driver for the demand for medical gases. Home healthcare refers to the provision of medical care and treatment in the comfort of a patient's home, allowing individuals to receive necessary medical services without the need for prolonged hospital stays. The growing number of geriatric populations is the major factor for increasing demand for home healthcare.
Furthermore, the medical gases market is expected to experience significant growth opportunities in developing regions over the next few years. The developing regions are working towards improving their healthcare infrastructure for which they need to set up and expand medical facilities, such as hospitals, clinics and outpatient care centers. This growth in medical facilities creates a need for medical gases, which are needed for patient care and for a variety of medical procedures.
For example, according to the World Health Organization’s (WHO), 'WHO’s Office for Disease Control and Prevention (ODC) is collaborating with the Ministry of Health countries such as Somalia, South Sudan, Chad, Equatorial Guinea and in other countries to develop oxygen plans to meet local needs and to create self-sustaining oxygen supply.” More government initiatives are expected to drive market growth in medical gases.
The medical gases market is segmented on the basis of product, application, end user, and region. On the basis of product, the market is bifurcated as pure medical gases and medical gases mixture. The pure gases segment is further categorized into oxygen, carbon dioxide, nitrous oxide, nitrogen, and others. Whereas the medical gas mixture segment is further divided into medical air and others. On the basis of application, the market is categorized into therapeutics, diagnostics, and others. By end user, the market is classified into hospitals, pharmaceutical and biotechnology companies, diagnostic centers, and others.
By region, the market is analyzed across North America (U. S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA).
The key players profiled in the study include Air Products and Chemicals, Inc., DCC Plc, Linde plc, Messer Holding GmbH, SOL Spa, Nippon Sanso Holdings Corporation, Air Liquide, PT Samator Indo Gas Tbk., NOL Group and WestAir Gases and Equipment Inc. The players in the market have been actively engaged in the adoption of various strategies such as geographical expansion, agreement, investment, and product launch to remain competitive and gain an advantage over the competitors in the market.
For instance, in November 2021, Nippon Sanso Holdings Corporation (NSHD), announced the execution of a raw gas supply agreement with Enlink Midstream, LLC and will also be constructing a state-of-the-art facility in Texas dedicated to the production of liquefied carbon dioxide and dry ice.
Key Market Insights
By product, the pure medical gases segment was the highest revenue contributor to the market and is estimated to reach $10.5 billion by 2032, with a highest CAGR of 6.8%.By application, the therapeutics segment dominated the global market and is expected to be the fastest-growing segment during the forecast period.
By end user, the hospitals segment dominated the market in 2022, whereas the others segment is anticipated to grow at a fastest rate during the forecast period.
Based on region, North America garnered the largest revenue share in 2022, and Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Air Products and Chemicals, Inc.
- DCC Plc
- Linde plc
- Messer Holding GmbH
- Nippon Sanso Holdings Corporation
- PT Samator Indo Gas Tbk.
- WestAir Gases And Equipment Inc.
- Air Liquide
- SOL Spa
- NOL Group
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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