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Medical Gases Market 2023, Size, Demand, Growth, Share And Forecast 2028

IMARC Group’s report titled “Medical Gases Market Report by Gas Type (Pure Gases, Gas Mixtures), Application (Therapeutic, Diagnostic, Biotechnology and Pharmaceutical Industry, and Others), End User (Hospitals, Home Healthcare, Academic and Research Institutions), and Region 2023-2028“. The global medical gases market size reached US$ 13.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/medical-gases-market/requestsample

Factors Affecting the Growth of the Medical Gases Industry:

  • Rising Healthcare Infrastructure:

The ongoing expansion and modernization of healthcare infrastructure globally are propelling the market growth. Healthcare facilities, including hospitals, clinics, and ambulatory surgical centers, are fundamental components of any healthcare system. As countries strive to enhance access to quality healthcare, they invest in building and upgrading these facilities. The demand for medical gases, such as oxygen, nitrogen, and carbon dioxide, is closely tied to these infrastructure developments. Medical gases are essential for a wide range of medical procedures and therapies, including anesthesia administration, mechanical ventilation, and diagnostic testing. The increasing demand for effective healthcare services and surgeries necessitates a consistent and reliable supply of medical gases to support patient care.

  • Growing Aging Population:

The demographic shift towards an aging population is supporting the growth of the market. Across the globe, populations are aging, leading to an increased prevalence of chronic diseases and respiratory disorders among elderly individuals. This demographic trend has profound implications for healthcare systems and the demand for medical gases. Medical gases, particularly oxygen and nitrous oxide, are vital in the treatment and management of various health conditions. With an aging population, there is a growing need for medical gases to support elderly patients suffering from respiratory ailments and those undergoing surgical procedures. Oxygen therapy is essential for addressing age-related conditions like chronic obstructive pulmonary disease (COPD) and heart failure.

  • Advancements in Medical Technology:

The continuous evolution of medical technology is bolstering the market growth. Innovative medical devices and procedures increasingly rely on medical gases, creating new opportunities and expanding the scope of applications within healthcare. The development of minimally invasive surgical techniques is driving the demand for medical gases in healthcare facilities. Procedures, such as laparoscopy and endoscopy require the use of medical gases like carbon dioxide to create a controlled environment within the body, allowing surgeons to perform complex surgeries with smaller incisions. This advancement is leading to shorter recovery times and reduced hospital stays, increasing the demand for medical gases.

Leading Companies Operating in the Global Medical Gases Industry:

  • Air Products and Chemicals Inc.
  • Airgas Inc. (Air Liquide S.A.)
  • Ellenbarrie Industrial Gases Ltd
  • Linde plc
  • Matheson Tri-Gas Inc. (Mitsubishi Chemical Holdings Corporation)
  • Messer Group GmbH
  • SCI Analytical Laboratories Inc
  • Sharjah Oxygen Company
  • SOL Spa

Medical Gases Market Report Segmentation:

By Gas Type:

  • Pure Gases
    • Medical Air
    • Medical Oxygen
    • Nitrous Oxide
    • Nitrogen
    • Carbon Dioxide
    • Helium
  • Gas Mixtures
    • Aerobic Gas Mixtures
    • Anaerobic Gas Mixtures
    • Blood Gas Mixtures
    • Lung Diffusion Mixtures
    • Medical Laser Mixtures
    • Medical Drug Gas Mixtures
    • Others

Pure gasses (medical oxygen) represent the largest segment due to the rising occurrence of various respiratory diseases among the masses.

By Application:

  • Therapeutic
  • Diagnostic
  • Biotechnology and Pharmaceutical Industry
  • Others

Therapeutic exhibits a clear dominance in the market as medical gases are widely used for therapeutic applications across various medical disciplines.

By End Use:

  • Hospitals
  • Home Healthcare
  • Academic and Research Institutions

Hospitals account for the majority of the market share. They heavily rely on medical gases to provide quality healthcare facilities and treatment to patients.

Regional Insights:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

North America’s dominance in the medical gases market is attributed to investment in medical research, leading to advanced developments in this field.

Global Medical Gases Market Trends:

The prevalence of respiratory diseases, including asthma, chronic obstructive pulmonary disease (COPD), and pneumonia, is supporting the market growth. These conditions require specialized medical care, often involving the use of medical gases for respiratory support and treatment. Oxygen therapy, in particular, plays a crucial role in managing respiratory conditions. Patients with severe respiratory illnesses often require supplemental oxygen to maintain adequate blood oxygen levels. This therapy is administered in various healthcare settings, from hospitals to home care, and relies heavily on medical gases. Moreover, pollution and environmental factors are contributing to the higher prevalence of respiratory issues. Poor air quality in urban areas and exposure to allergens can exacerbate respiratory conditions, necessitating medical intervention and the use of medical gases.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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