Medical Gases Market, By Product (Gases, Oxygen Gases, Carbon Dioxide Gases, Nitrogen Gases, Helium Gases, Medical Gases Mixture, Blood Gas Mixtures, Laser Gas Mixtures, Carbon Dioxide-Oxygen Mixtures, Biological, Atmospheres, Aerobic Gas Mixtures, Anaerobic Gas Mixtures, and Others (Lung Diffusion Mixtures, Helium-Oxygen Mixtures, and Ethylene Oxide)), By End-User (Hospitals, Home Healthcare, Emergency Services, Pharmaceutical Industry, And Academic and Research Institutions), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI56919 | Publish Date: March 2024 | No. of Pages: 180

Global Medical Gases Market By Overview

Introduction:

Medical Gases Market was valued at US$ 20.5 billion in 2024 and is projected to grow at a CAGR of 6.5% to reach US$ 36.5 billion by 2034.

Medical gases are specialized gases used in healthcare settings to support various medical procedures, diagnostics, and therapies. These gases are produced and supplied in a controlled manner to ensure purity and safety for patient use. One of the most common medical gases is oxygen, which is administered to patients with respiratory conditions to improve oxygenation and alleviate breathing difficulties. Oxygen therapy is vital in emergency situations, during surgeries, and for patients with chronic respiratory diseases like COPD. Additionally, medical gases such as nitrous oxide and anesthesia gases are used to induce and maintain anesthesia during surgical procedures, ensuring patient comfort and pain management. Other applications of medical gases include respiratory support through ventilators, diagnostic testing using gases like helium and nitrogen for lung function tests and imaging procedures, and wound care utilizing hyperbaric oxygen therapy for enhanced healing. Medical gases also play a role in carbon dioxide removal, cryotherapy, and pulmonary function testing, contributing to the diagnosis and treatment of various medical conditions. In essence, medical gases are indispensable in modern healthcare, facilitating essential treatments and diagnostics across a wide range of medical specialties.

Medical Gases Market - Region Insights

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Global Medical Gases Market By Dynamics

Medical Gases Market Key Drivers:

  • Hospital Admissions Fueling Growth in the Medical Gases Market  

The driving factor of the Medical Gases Market is significantly influenced by the increase in hospital admissions. As hospital admissions rise, the demand for medical gases such as oxygen, nitrous oxide, and anesthesia gases increases proportionally. Hospitals are primary consumers of medical gases, utilizing them in various critical applications including oxygen therapy, anesthesia administration, and respiratory support for patients with acute and chronic respiratory conditions. The growing prevalence of respiratory diseases, emergencies, surgeries, and intensive care admissions contributes to the escalating demand for medical gases. Additionally, with the expanding global population and aging demographics, there is an increased incidence of chronic illnesses and age-related conditions necessitating hospitalization, further driving the demand for medical gases. As hospitals strive to maintain high standards of patient care, they continually invest in advanced medical gas delivery systems and infrastructure to ensure the efficient and safe administration of medical gases to patients. Therefore, the surge in hospital admissions emerges as a key driving force shaping the growth trajectory of the Medical Gases Market, driving innovation, investment, and expansion in the industry to meet the escalating demand for medical gases in healthcare facilities worldwide.  

For instance, according to Statista, stays in hospitals are more common among females than males, with around 7.2 percent of females reporting one or more hospital stays in the past year, compared to 4.8 percent of males. Furthermore, 16.6 percent of those aged 65 years and older had a hospitalization in the past year, compared to just 6.6 percent of those aged 18 to 44 years. The average length of a stay in a U.S. hospital is 5.7 days.           

  • The Influence of Increasing Hospital Numbers on the Medical Gases Market  

The Medical Gases Market is significantly influenced by the increasing number of hospitals. As the healthcare industry expands to meet the growing demand for medical services, there is a parallel rise in the establishment of hospitals and healthcare facilities worldwide. Each new hospital requires a comprehensive infrastructure for patient care, including the installation of medical gas systems to support various clinical applications. Medical gases such as oxygen, nitrous oxide, and anesthesia gases are indispensable in hospitals, used for oxygen therapy, anesthesia administration, respiratory support, and diagnostic procedures. The increasing number of hospitals directly correlates to a surge in demand for medical gases, driving the growth of the Medical Gases Market. Moreover, with advancements in medical technology and the evolving landscape of healthcare delivery, hospitals are continually upgrading their facilities and equipment, further contributing to the demand for medical gases. As hospitals continue to play a critical role in healthcare delivery globally, their expansion and modernization efforts serve as a key driving force in shaping the growth trajectory of the Medical Gases Market, fostering innovation, investment, and development in the industry to meet the escalating demand for medical gases across healthcare settings.

Medical Gases Market Restrains:

  • Fluctuation of Demand & Supply Ratio due to shortage of gases:

A significant restraining factor in the Medical Gases Market stems from shortages of gases, which can disrupt healthcare operations and patient care. Shortages of medical gases such as oxygen, nitrous oxide, and carbon dioxide can occur due to various reasons, including supply chain disruptions, production issues, transportation challenges, and sudden increases in demand during emergencies or pandemics. These shortages can have serious implications for healthcare facilities, limiting their ability to provide essential medical treatments and therapies to patients. In situations where medical gases are in short supply, hospitals may be forced to prioritize certain patients or procedures, leading to delays in care and compromised patient outcomes. Moreover, shortages of medical gases can result in increased costs for healthcare facilities as they may need to source gases from alternative suppliers or invest in backup systems and storage facilities to mitigate the impact of shortages. Additionally, shortages of medical gases can strain healthcare systems, exacerbating existing challenges and creating logistical hurdles for healthcare providers. Therefore, addressing and mitigating shortages of medical gases is imperative to ensure uninterrupted access to essential healthcare services and maintain the quality of patient care in healthcare facilities.

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Global Medical Gases Market By Segmentation

Medical Gases Market is segmented based on Product, End User, and region.

Product Insight

Based on the Product Type Segmentation the Medical Gases Market is Segmented into Gases, Oxygen Gases, Carbon Dioxide Gases, Nitrogen Gases, Helium Gases, Medical Gases Mixture, Blood Gas Mixtures, Laser Gas Mixtures, Carbon Dioxide-Oxygen Mixtures, Biological, Atmospheres, Aerobic Gas Mixtures, Anaerobic Gas Mixtures, and Others (Lung Diffusion Mixtures, Helium-Oxygen Mixtures, and Ethylene Oxide). Oxygen segment is expected to dominate the target market due to increased in demands for oxygen supports in geriatric population.

End User Insights

Based on the End User Segment the Medical Gases Market is Segmented into Hospitals, Home      Healthcare, Emergency Services, Pharmaceutical Industry, And Academic and Research Institutions. Hospital Segment is expected to Dominate the target Market due to increasing number of Hospital Admission due to chronic respiratory diseases and availability of the required resources in the premise. The Emergency Services Segment is expected to grow at highest CAGR due to increasing number of highly advanced ambulance service.

Regional Insights:

Medical Gases Market - Regional Insights

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Medical Gases Market Regional Insights

  • North America: In Medical Gases Market is expected to dominate due to its advanced healthcare facilities. With state-of-the-art hospitals and clinics, the region prioritizes patient safety and quality care, driving the demand for high-quality medical gases across various medical specialties. North America's proactive healthcare management and regulatory framework further contribute to its leadership in the Medical Gases Market.
  • Asia Pacific: The Asia Pacific region is expected to generate the highest revenue due to the increasing number of hospitals. As economic growth and urbanization drive the expansion of healthcare infrastructure, there is a growing demand for medical gases in diagnostic tests, surgeries, and therapeutic procedures. The region's advancements in medical technology and healthcare investments further contribute to the adoption of medical gases, making Asia Pacific a lucrative market in the industry.
  • Europe: Europe is poised to generate the highest return on investment in the Medical Gases Market due to its advanced industries and healthcare systems. The region's leading medical device manufacturers and sophisticated healthcare infrastructure ensure widespread adoption of high-quality medical gases in diagnostic and therapeutic procedures, offering favorable opportunities for growth and innovation in the industry.
  • Latin America: Latin America is expected to achieve the highest Compound Annual Growth Rate (CAGR) in the Medical Gases Market due to increasing investments in the region's healthcare sector. With rising awareness and improving economic conditions, Latin American countries are witnessing significant investments in healthcare infrastructure, driving the demand for medical gases in diagnostic, therapeutic, and surgical procedures. This trend positions Latin America as a promising market for medical gases, contributing to its high projected CAGR in the industry.
  • Middle East & Africa: In the Medical Gases Market, the Middle East & Africa is poised to experience the highest consumer demand due to the prevalence of chronic respiratory diseases in the region. Factors such as air pollution and limited access to healthcare facilities contribute to the increasing need for medical gases like oxygen and nitrous oxide to support respiratory therapies. As a result, the region emerges as a significant market for medical gases, driven by the rising demand for respiratory treatments and support.
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Report Scope:

Attribute            

Details

Market Size 2024

US$ 20.5 billion

Projected Market Size 2034

US$ 36.5 billion

CAGR Growth Rate

6.5%

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Product - Gases, Oxygen Gases, Carbon Dioxide Gases, Nitrogen Gases, Helium Gases, Medical Gases Mixture, Blood Gas Mixtures, Laser Gas Mixtures, Carbon Dioxide-Oxygen Mixtures, Biological, Atmospheres, Aerobic Gas Mixtures, Anaerobic Gas Mixtures, and Others (Lung Diffusion Mixtures, Helium-Oxygen Mixtures, and Ethylene Oxide)

By End User - Hospitals, Home Healthcare, Emergency Services, Pharmaceutical Industry, And Academic and Research Institutions

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Medical Gases Market report based on Product, End User and region:

Medical Gases Market, By Product:

  • Gases
  •  Oxygen Gases
  •  Carbon Dioxide Gases
  •  Nitrogen Gases
  • Helium Gases
  • Medical Gases Mixture
  • Blood Gas Mixtures
  • Laser Gas Mixtures
  • Carbon Dioxide-Oxygen Mixtures
  • Biological, Atmospheres
  • Aerobic Gas Mixtures
  • Anaerobic Gas Mixtures
  • Others (Lung Diffusion Mixtures, Helium-Oxygen Mixtures, and Ethylene Oxide)

Medical Gases Market, By End User:

  • Hospitals
  • Home Healthcare
  • Emergency Services
  • Pharmaceutical Industry
  • Academic and Research Institutions

Medical Gases Market, By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Global Medical Gases Market By Key Players

The key players operating the Medical Gases Market includes, The Linde Group, Inc, Airgas, Inc, BeaconMedaes LLC, Medical Gas Solutions Ltd., Air Products and Chemicals, Inc, Praxair, Inc, L'Air Liquide S.A., Matheson Tri-Gas, Inc., Taiyo Nippon Sanso Corporation, Atlas Copco AB, and Gasworld

Global Medical Gases Market By Key Issues Addressed

Recent Development:

  • In June 2021, GCE Healthcare introduces a completely redesigned high pressure gas regulator. a completely new, creative design that combines professional medical understanding with vast industrial experience. With a delivery rate of up to 25 lpm, the MediTecTM regulator is useful for treating cluster headaches as well as resuscitation.Its straightforward yet sturdy ergonomic design, which was developed with the end user in mind, guarantees effective gas management at all times. For flexible use, this lightweight regulator has a flow selector and a fast hookup option.

Global Medical Gases Market By Company Profile

  • Linde Group, Inc *
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Airgas, Inc, BeaconMedaes LLC
  • Medical Gas Solutions Ltd.
  • Air Products and Chemicals, Inc
  • Praxair, Inc,
  • L'Air Liquide S.A.
  • Matheson Tri-Gas, Inc.
  • Taiyo Nippon Sanso Corporation
  • Atlas Copco AB.
  • Gasworld

“*” marked represents similar segmentation in other categories in the respective section.

Global Medical Gases Market By Table of Contents

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product
      • Market Snippet, By End-User
      • Market Snippet, By Region
    • Opportunity Map Analysis
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Market Trends
    • Product Launch
    • Impact Analysis
    • PEST Analysis
    • Porter’s Analysis
  4. Global Medical Gases Market, By Product, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Segment Trends
    • Medical Pure Gases
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Oxygen Gases
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Carbon Dioxide Gases
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Nitrogen Gases
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Helium Gases
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 202
    • Medical Gases Mixture
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Blood Gas Mixtures
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Laser Gas Mixtures
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Carbon Dioxide-Oxygen Mixtures
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Biological Atmospheres
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Aerobic Gas Mixtures
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Anaerobic Gas Mixtures
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 202
    • Others (Lung Diffusion Mixtures, Helium-Oxygen Mixtures, and Ethylene Oxide)
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
  5. Global Medical Gases Market, By End-User, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Segment Trends
    • Hospitals
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Home Healthcare
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Emergency Services
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Pharmaceutical Industry
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Academic and Research Institutions
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
  6. Global Medical Gases Market, By Region, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By End-User, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By End-User, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By End-User, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By End-User, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By End-User, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa
  7. Competitive Landscape
    • Heat Map Analysis
    • Company Profiles
      • The Linde Group, Inc
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Airgas, Inc
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • BeaconMedaes LLC
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Medical Gas Solutions Ltd.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Air Products and Chemicals, Inc
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Praxair, Inc
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • L'Air Liquide S.A.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Matheson Tri-Gas, Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Taiyo Nippon Sanso Corporation
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Atlas Copco AB
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
    • Analyst Views
  8. Section
    • Research Methodology
    • About Us
    • Contact

FAQs

Segmentation involved in Global Medical Gases Market are by product, by end - user and by region

Increasing demand for medical gases globally is the major driver driver the growth of the Global Medical Gases Market

Key players in the global medical gases market include The Linde Group, Inc, Airgas, Inc, BeaconMedaes LLC, Medical Gas Solutions Ltd., Air Products and Chemicals, Inc, Praxair, Inc, L'Air Liquide S.A., Matheson Tri-Gas, Inc., Taiyo Nippon Sanso Corporation, and Atlas Copco AB.