The medical gases industry is currently undergoing shift in standards and delivery due to the modernization of institutional healthcare and home healthcare market and the means of supply to these areas. The medical gas sector is anticipated to undergo certain revisions in testing and supply requirements from the developed markets.

For the purpose of this study, the medical gases market is studied in terms of product types, end-users and geographical distribution. Based on product types, the medical gases market is segmented into pure medical gases, medical gas mixtures and medical gas equipment. Oxygen, Carbon Dioxide, Nitrogen, Nitrous Oxide, Medical Air and Helium are the pure medical gases studied in this report, whereas the medical gas mixtures studied are Ethylene Oxide, Lung Diffusion mixtures, Carbon Dioxide–Oxygen mixtures, Nitrous Oxide–Oxygen mixtures, Anaerobic Gas mixtures, Aerobic Gas mixtures, Helium-Oxygen mixtures, laser-gas mixtures and blood-gas mixtures. The devices majorly used in medical gas administration and management are hose assemblies, manifolds, outlets, regulators, compressors, vacuum systems, masks, alarm systems, and cylinders and accessories.

Based on end-uses, the global medical gases market is categorized into hospitals and clinics, home healthcare, research and academia, and the pharmaceuticals and biotechnology industry. Market size and forecast for each mentioned segment for the period 2014-2023 (USD Mn) along with respective CAGRs for the forecast period 2016-2023 are provided in this study along with the major market trends witnessed.

Market size and forecast for each segmentation level are incorporated in this study for the period 2014-2023, along with respective Compounded Annual Growth Rates (CAGRs) for the forecast period 2016-2023, considering 2015 as the base year.

Along with market assessment in terms of historical, current and future market sizes, qualitative information sets such as market dynamics (drivers, challenges and opportunities), attractive investment proposition, Porter’s five forces assessment and executive summary for the global medical gases market are included in the report. Competition assessment for major market players and attractive investment proposition tool for the geographic markets are also included in the report for overall market competition scrutiny. This study concludes with company profiles section, which includes major information about the key companies engaged in development, manufacture and sale of medical gases and equipment.

Pure gases is the largest segment among the product types studied in this scope. Significant growth in geriatric population with compromised immune system, thus presenting a high risk of chronic conditions, including respiratory disorders like chronic obstructive pulmonary disorder that demand regular oxygen administration drive the growth of this segment. Additionally, medical gas mixtures segment is anticipated to undergo faster growth during the forecast on the grounds of their demand in procedures such as cardiopulmonary bypass surgery, renal dialysis, serialization and other such procedures and processes. Rapid growth in prevalence of chronic diseases that demand medical gas administration at various stages of disease management and control, hence, is a key factor driving the growth of the medical gases market. As the demand for administration of such gases is growing, and technical advances are taking place in this field, corresponding progress of medical gas devices segment is anticipated to occur during the forecast period.

Among the considered end-users, hospitals and clinics is the largest segment for medical gases. The consumption of all forms of medical gases commercially available is high in hospitals. Requirement of medical gases in medical procedures such as surgeries, intensive care, emergency response and the high prevalence of medical procedures being conducted worldwide contribute to the dominance of hospitals and clinics segment. On the other hand, the home healthcare segment is anticipated to undergo the fastest growth during forecast period. Trending shift from hospital to home care is a key facilitator to growth of this segment. In line of this movement, the regulatory bodies are gradually making way for a robust establishment of this segment.

Geographically, the medical gases market is cumulative to North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.

North America is the largest regional market for medical gases. High number of medical procedures conducted, higher prevalence of respiratory disorders and other chronic diseases and existence of advanced healthcare infrastructure in the region are the major drivers. Another key driver of North America medical gases market is phenomenal rise of home healthcare segment. Asia-Pacific is the fastest growing market for medical gases. Rapid development of healthcare infrastructure in emerging economies, high shift in medical tourism in the region are the key drivers of Asia-Pacific medical gases market.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Medical Gases market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Medical Gases market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Medical Gases market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Medical Gases market?
• Which is the largest regional market for Medical Gases market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Medical Gases market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Medical Gases market worldwide?