Medical Gas Equipment Market - By Product (Manifolds, Outlets, Hose Assemblies & Valves, Alarm Systems, Cylinders, Flowmeters, Regulators, Medical Air Compressors, Vacuum Systems), By End-use (Hospitals, Clinics, ASCs) – Global Forecast 2023-2032

Medical Gas Equipment Market Size

Medical Gas Equipment Market size was worth USD 2.8 billion in revenue in 2022 and is estimated to expand at 7% CAGR from 2023 to 2032, driven by the rapid growth of the elderly population worldwide owing to the expanding healthcare infrastructure and increasing rate of average life expectancy. As per UN estimates, the geriatric population may reach 2.1 billion by 2050.
 

The rising burden of diabetes, coronary heart disease, and blood pressure has stirred the higher demand for medical gas equipment for chronic disease management. The surging prevalence of chronic respiratory disorders, including chronic obstructive pulmonary disease (COPD) and asthma have led to the growing need for oxygen therapy equipment, including oxygen concentrators and portable oxygen tanks to improve oxygenation, relieve symptoms, and enhance the quality of life. It has been estimated that COPD affects 1 out of 10 individuals in the adult global population. The scaling number of in-patients will also prove favorable for the market expansion.
 

The rising preference for point of care diagnostics to match the growing prevalence of infectious diseases will drive the demand for medical gas equipment. According to the WHO, tuberculosis is one of the world's deadliest infectious diseases and accounted 1.6 million deaths in 2021. However, the presence of stringent regulatory landscape driven the dictation of guidelines and rules by various governments and organizations for safe and effective usage of medical gas equipment will limit the product adoption to some extent. To illustrate, the U.S. FDA has published stringent rules and regulations for handling medical gas equipment.  
 

COVID-19 Impact

The COVID-19 pandemic proved beneficial for the medical gas equipment market growth due to the escalating need for medical gases, especially oxygen, to treat the affected patients. The surged pressure on ensuring stable supply of healthcare equipment and development of efficient and portable systems to meet the evolving needs of healthcare facilities prompted several healthcare facilities to invest in additional medical gas equipment. In February 2021, Rotarex S.A. increased its production capacity for in-house certain critical components as part of an investment project worth €4.5 million to combat COVID-19. The surging patient preference for telemedicine also influenced the market expansion in the outbreak.
 

Medical Gas Equipment Market Trends

The rollout of favorable initiatives led by several government and regulatory organizations, such as the U.S. FDA Safety and Innovation Act, to enhance the quality of patient care and ensure safety will enhance the market growth. Numerous government research agencies are also allocating fundings for R&D activities related to medical gas equipment for innovations and the development of safer and effective devices. To cite an instance, in November 2021, UNICEF joined forces with Oxygen CoLab for driving the development of novel and innovative robust oxygen concentrators to cater to uses in low-resource settings.
 

Medical Gas Equipment Market Analysis

The manifolds segment held significant share of the medical gas equipment industry in 2022 and is estimated to record USD 1.4 billion by 2032 owing to the high application scope in different healthcare settings, including hospitals and ambulatory surgical centres for continuous supply of medical gases, like oxygen, carbon dioxide, nitrogen, and nitrous oxide. Driven by their highly stable outlet pressure and ease of maintenance, manifold systems are recording tremendous demand in different applications.
 

Rising innovations led by prominent players to meet the increasing healthcare requirements will also add to the market growth.  For instance, in July 2023, Atlas Copco’s BeaconMedaes LLC unveiled MAT-S, its gen-next automatic manifold changeover system incorporated with innovative features to deliver premium performance and reliability as well as lower operational and maintenance costs.
 

Medical gas equipment market size from the hospital segment may exceed USD 2 billion by 2032. The growth can be ascribed to the higher adoption of cutting-edge medical equipment in these settings to deliver medical air to patients in need of oxygen therapy in response to the expanding patient pool suffering from respiratory diseases. For instance, in January 2023, BeaconMedaes launched Anaesthetic Gas Scavenging System (AGSS) to extract and eliminate waste anaesthetic gas mixtures from operating theatres in private hospitals. The enforcement of standards and guidelines by regulatory bodies, such as the National Fire Protection Association (NFPA) and the U.S. FDA for handling, storing, and administrating of medical gases in hospitals will assist in the segment landscape.
 

North America medical gas equipment market size is expected to expand at 6.7% CAGR from 2023-2032 driven by the rising burden of respiratory conditions, mainly in the U.S. As per the Centers for Disease Control and Prevention, nearly 8.7% of adults aged 18 years and above had asthma in 2022.  The emerging trend of home healthcare, powered by the rapidly aging population and higher preference for comfortable and cost-effective care options has surged the higher demand for portable and home-based medical gas equipment. The influx of various government policies for implementing effective healthcare systems will also prove favorable for the regional industry expansion.
 

Medical Gas Equipment Market Share

The medical gas equipment industry is consolidated in nature, comprising major players and several regional firms that develop, manufacture and commercialize medical gas equipment, such as manifolds medical air compressors, vacuum systems, and regulators among others. For instance, Air Liquide, Taiyo Nippon Sanso Corporation, Linde Group, and Atlas Copco Group are continuously focused on adopting various strategies, such as mergers & acquisitions, and partnership agreements to gain competitive edges, and account for 32% of the market revenue share.
 

Some of the well-known companies functioning in the medical gas equipment include:

• Allied Healthcare Products Inc.
• Amico Group of Companies
• Colfax Corporation
• Silbermann Medical Gas Systems
• Air Liquide S.A.
• Atlas Copco Group
• Linde plc
• Tenex Capital Management
• Precision UK
• GENTEC (Shanghai) Corporation
• Rotarex S.A.
• Taiyo Nippon Sanso Corporation
• Drägerwerk AG & Co. KGaA
   

Medical Gas Equipment industry News

• In March 2023, Atlas Copco Group bought U.S.-based medical gas equipment and system provider FS Medical for strengthening its product offerings and services across the country
   
• In October 2022, Tenex Capital Management announced the sale of renowned oxygen regulators and central gas system manufacturer, Ohio Medical, LLC to leading fabrication as well as gas control technology firm ESAB Corporation to accelerate its global expansion
   

Medical gas equipment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Product (USD Million & Units)

• Manifolds
• Outlets
• Hose assemblies and valves
• Alarm systems
• Cylinders
• Flowmeters
• Regulators
• Medical air compressors
• Vacuum systems
• Others

By End-use (USD Million)

• Hospitals
• Clinics
• Ambulatory surgical centers
• Others

The above information is provided for the following regions and countries:

• North America  
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE