Medical Gas Market Size Worth $29.04 Billion By 2032 | CAGR: 7.9%

The global medical gas market size is expected to reach USD 29.04 billion by 2032, according to a new study by Polaris Market Research. The report “Medical Gas Market Share, Size, Trends, Industry Analysis Report, By Product (Pure Gases, Gas Mixtures), By Application (Therapeutic, Diagnostics), By End-use (Hospitals, Home Healthcare), By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rapid escalation in the prevalence of chronic diseases is a key driver propelling the medical gas market. According to the World Health Organization (WHO), there has been a substantial increase in the incidence of diabetes, heart disease, and other non-communicable diseases globally in the past two decades. For instance, data from the Centers for Disease Control and Prevention (CDC) indicates that in 2018, 51.8% of adults in the United States were affected by at least one chronic condition, with 27.2% experiencing multiple chronic conditions. This surge in chronic diseases necessitates the use of medical gases at various stages of disease management and control, contributing to the growth of the market.

Medical gases play a crucial role in the treatment of chronic conditions in long-term care, and the increasing prevalence of such diseases is anticipated to fuel the growth of the market in the foreseeable future. Additionally, there is a growing demand for advanced medical gas equipment, including vacuum systems and manifolds. For instance, Powerex stands out as the pioneering manufacturer of medical gas systems that has undertaken testing and certification of manifolds. This commitment to quality and certification enhances the reliability and safety of medical gas systems, contributing to the overall expansion of the market.

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The evolving landscape of healthcare, characterized by a shift towards personalized medicine, do-it-yourself (DIY) healthcare, and the homecare model, has opened substantial opportunities in the medical gases industry. Technological advancements and financial considerations fuel this transformation. One noteworthy outcome of this shift is the increased demand for medical gases in various home-based healthcare applications. Surgical medical interventions have experienced a surge in demand for medical gases. This trend is anticipated to persist and even grow over the next decade as healthcare delivery continues to embrace more patient-centric and home-based approaches.

Medical Gas Market Report Highlights

• Pure gas segment garnered the largest share, owing to huge number of people suffering respiratory problems, and in surgical interventions
• Therapeutic segment held the largest share, primarily due to rise in chronic diseases, and rise in old age population 
• North America accounted for the largest share, due to well-developed medical infrastructure
• The key market players include Linde, Atlas Copco, Messer, Matheson Tri-Gas, Air Products and Chemicals, Air Liquide, & INOX-Air Products.

Polaris Market Research has segmented the medical gas market report based on product, application, end use, and region:

Medical Gas, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Pure Gases
  • Medical Air
  • 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

Medical Gas, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Therapeutic
• Diagnostics
• Pharmaceutical Manufacturing
• Others

Medical Gas, End Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Hospitals
• Ambulatory Surgical Centers
• Home Healthcare
• Pharmaceutical and Biotechnology Companies
• Diagnostic and Research Laboratories
• Academic and Research Institutions

Medical Gas, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Medical Gas Market Report Scope