The global medical gas market size is anticipated to reach USD 25.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.1% from 2022 to 2030. The rapid rise in the prevalence of chronic diseases, which necessitates the use of medical gases at various stages of disease management and control, is a major factor driving the market forward. According to the WHO, there has been a significant increase in the prevalence of diabetes, heart disease, and other non-communicable diseases worldwide over the last two decades. For instance, as per the CDC data, in 2018, 51.8% of US adults suffered from at least 1 chronic condition, and 27.2% had multiple chronic conditions.
Medical gases are an important component of many long-term care treatments for chronic conditions, and thereby rising prevalence of these diseases is expected to drive the growth of the medical gases market in the coming years. Furthermore, increased demand for advanced medical gas equipment such as vacuum systems and manifolds, are expected to drive market growth. For instance, Powerex is the first manufacturer of medical gas systems to test and certify manifolds. In addition, lately, healthcare has been evolving toward personalized medicine, DIY healthcare, and the homecare model, driven by technological advancements and financial pressure. This dramatic shift has created some significant opportunities in the medical gases industry. Home oxygen therapy, respiratory treatments, sleep therapy, and positive airway pressure devices have all increased demand for medical gases, and this is expected to continue over the next decade.
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Based on product, the pure gas segment dominated the market with a share of 57.0% in 2021 owing to the presence of a huge patient base suffering from respiratory disorders, and increasing number of patients requiring emergency medical care
Based on application, the therapeutic segment is expected to witness a CAGR of 8.0% over the forecast period. This is owing torise in the number of chronic diseases, and an increasing geriatric population
The hospital segment dominated the market in 2021, owing to hospitals' extensive use of medical gases and equipment as a result of their large patient pool
North America dominated the market and accounted for the highest revenue share of 45.3% in 2021. The growing awareness about chronic diseases, rising adoption of technologically advanced therapeutic and diagnostic products is projected to contribute to the regional market growth
Grand View Research has segmented the global medical gas market on the basis of product, application, end use, and region:
Medical Gas Product Outlook (Revenue, USD Million, 2018 - 2030)
Aerobic Gas Mixtures
Anaerobic Gas Mixtures
Blood Gas Mixtures
Lung Diffusion Mixtures
Medical Laser Mixtures
Medical Drug Gas Mixtures
Medical Gas Application Outlook (Revenue, USD Million, 2018 - 2030)
Medical Gas End-use Outlook (Revenue, USD Million, 2018 - 2030)
Ambulatory Surgical Centers
Pharmaceutical And Biotechnology Companies
Diagnostic and Research Laboratories
Academic And Research Institutions
Medical Gas Regional Outlook (Revenue, USD Million, 2018 - 2030)
Middle East and Africa (MEA)
List of Key Players of the Medical Gas Market
Air Products Inc.
Taiyo Nippon Sanso Corporation
Matheson Tri-Gas Inc.
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