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Medical Gases Market Trends

Report ID: GMI5062
Published Date: May 2021
Report Format: PDF

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Medical Gases Market Trends

As surgeries form an essential part of the healthcare sector, increasing or decreasing surgical volumes is noted to impact the demand for medical gases. Rising prevalence of cardiovascular arrest, chronic obstructive pulmonary disease and other disorders compel the healthcare practitioners to prescribe medical oxygen to patients for life support, thereby complementing the industry growth. Further, cryosurgeries are performed to remove cancer as well as skin lesions. According to the American Cancer Society, it is poised that over 1.7 million new cancer patients were diagnosed in 2019 in U.S. alone. With surgery being one of the most common treatment methods for different types of cancers, the increasing prevalence of cancer is projected to contribute considerably to the market expansion.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Medical gases are used for anesthesia, therapeutic, and diagnostic purposes in hospitals and healthcare facilities.

Medical gases industry size was valued at more than USD 14.1 billion in 2020 and will expand at a CAGR of 6.5% from 2021 to 2027.

Pure gases will register a share of more than 56.4% in 2020 and will depict lucrative growth owing to the surging demand for oxygen.

The use of medical gases in hospitals recorded a valuation of USD 8.5 billion in 2020 and will grow as hospitals have been the primary source of treatment at the global level.

Owing to state-of-the-art healthcare facilities in the U.S and Canada, North America medical gases market revenue was recorded at USD 4.9 billion in 2020.