Medical Gas Equipment Market Report 2024 (Global Edition)

Global Medical Gas Equipment Market Report 2024 Market Size Split by Product (Vacuum Systems/Pumps, Manifolds, Alarm Systems, Flowmeters, Medical Air Compressors, Cylinders and Accessories, Hose Assem...

Medical Gas Equipment Market Report Description

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Medical Gas Equipment Market Insights Video

Competitive Landscape of the Medical Gas Equipment Market

The medical gas equipment market features a competitive landscape characterized by numerous global and regional players. Companies compete on innovation, technology advancements, and compliance with stringent safety standards. Key competitive factors include product quality, customer service, and the ability to meet diverse healthcare needs. Strategic partnerships, acquisitions, and geographic expansion also play crucial roles in shaping market dynamics.

In May 2021, Atlas Copco acquired a New York-based supplier specializing in medical gas systems. The privately-owned company is an authorized representative of Beacon Medaes, offering medical and laboratory equipment, along with installation, verification, and service solutions. (Source: https://www.atlascopcogroup.com/en/media/corporate-press-releases/2021/20210525-acquisition-Medigas) In August 2023, Atlas Copco announced plans to expand its manufacturing capabilities in India with a new factory in Pune. The facility will produce air and gas compressor systems for both the local and export markets. (Source: https://www.atlascopcogroup.com/en/media/corporate-press-releases/2023/20230825-india-factory) In October 2023, Linde inaugurated a new air separation unit (ASU) in Hyderabad. The plant will produce 250 tonnes of gases daily, including liquid medical oxygen, nitrogen, and argon, to meet the needs of the healthcare, pharmaceutical, and industrial sectors in the region. (Source: https://www.linde.in/en/news_and_media/india_news/linde%20starts%20up%20new%20air%20separation%20unit%20in%20hyderabad.html)

Top Companies Market Share in Medical Gas Equipment Industry: (In no particular order of Rank)

• Air Liquide S.A.
• Atlas Copco Group
• Linde plc
• Airgas Inc.
• Allied Healthcare Products Inc.
• Powerex
• Amico Corp
• Gentec Corp.
• Taiyo Nippon Sanso Corporation
• Colfax Corporation (GCE group AB)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Medical Gas Equipment Market

Which Region Dominates the Medical Gas Equipment Market in 2024?

According to Cognitive Market Research, North America currently dominates the medical gas equipment market, and the region is expected to have significant growth during the projected period. This is due to its advanced healthcare infrastructure and high demand for sophisticated medical technologies. The region benefits from substantial investments in hospital and clinic expansions, coupled with stringent regulatory standards ensuring high-quality equipment. Additionally, the growing prevalence of chronic diseases and an aging population drive consistent demand for medical gases.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). This is due to rapid healthcare infrastructure development and increasing healthcare investments. Expanding economies and rising healthcare needs, coupled with a large population base, drive the demand for medical gases. Additionally, government initiatives to improve healthcare access and quality in emerging markets contribute to this accelerated growth.

The current report Scope analyzes Medical Gas Equipment Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Medical Gas Equipment Market

According to Cognitive Market Research, the global medical gas equipment market size was estimated at USD 2415.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 966.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

• According to Cognitive Market Research, The United States medical gas equipment market is projected to witness growth at a CAGR of 6.0% during the forecast period, with a market size of USD 762.24 million in 2024. Rising prevalence of chronic diseases and continued investment in advanced healthcare technologies drive increased demand for medical gas equipment across healthcare facilities.
Canada medical gas equipment market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 115.93 million in 2024. Expanding healthcare infrastructure and a focus on improving patient care quality boost the need for reliable and advanced medical gas solutions in Canada. Mexico medical gas equipment market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 87.91 million in 2024.

Europe Medical Gas Equipment Market

According to Cognitive Market Research, the global medical gas equipment market size was estimated at USD 2415.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 724.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

• United Kingdom medical gas equipment market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 121.73 million in 2024. The UK’s emphasis on healthcare modernization and patient safety requirements significantly enhances the demand for sophisticated medical gas systems in hospitals and clinics.
France medical gas equipment market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 66.66 million in 2024. Germany medical gas equipment market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 143.46 million in 2024. Germany’s strong healthcare sector and innovation-driven approach support high demand for advanced medical gas equipment to cater to diverse medical needs. Italy medical gas equipment market is projected to witness growth at a CAGR of 5.9% during the forecast period, with a market size of USD 62.31 million in 2024. Russia medical gas equipment market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 112.31 million in 2024. Spain medical gas equipment market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 59.41 million in 2024. Luxembourg medical gas equipment market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 22.46 million in 2024. Portugal medical gas equipment market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 15.22 million in 2024. Greece medical gas equipment market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 8.69 million in 2024. Rest of Europe medical gas equipment market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 112.31 million in 2024.

Asia Pacific Medical Gas Equipment Market

According to Cognitive Market Research, the global medical gas equipment market size was estimated at USD 2415.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 555.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.

• According to Cognitive Market Research, China medical gas equipment market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 249.97 million in 2024. Rapid healthcare expansion and increasing investment in advanced medical technologies fuel demand for medical gas equipment to support growing patient populations and facilities.
Japan medical gas equipment market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 76.66 million in 2024. India medical gas equipment market is projected to witness growth at a CAGR of 11.8% during the forecast period, with a market size of USD 66.66 million in 2024. Rising healthcare access and increased investments in healthcare infrastructure drive the demand for medical gas equipment to meet expanding medical needs and improve care. South Korea medical gas equipment market is projected to witness growth at a CAGR of 9.1% during the forecast period, with a market size of USD 55.55 million in 2024. Australia medical gas equipment market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 28.89 million in 2024. South East Asia medical gas equipment market is projected to witness growth at a CAGR of 11.0% during the forecast period, with a market size of USD 38.33 million in 2024. Rest of Asia Pacific medical gas equipment market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 39.44 million in 2024.

South America Medical Gas Equipment Market

According to Cognitive Market Research, the global medical gas equipment market size was estimated at USD 2415.2 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 120.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil medical gas equipment market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 51.69 million in 2024. Brazil’s healthcare sector growth and government initiatives to enhance medical services stimulate demand for medical gas equipment in hospitals and clinics.
Argentina medical gas equipment market is projected to witness growth at a CAGR of 8.3% during the forecast period, with a market size of USD 20.29 million in 2024. Expanding healthcare facilities and rising healthcare investments in Argentina create a growing need for reliable medical gas equipment to support patient care and medical services. Colombia medical gas equipment market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 10.75 million in 2024. Peru medical gas equipment market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 9.90 million in 2024. Chile medical gas equipment market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 8.69 million in 2024. Rest of Latin America medical gas equipment market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 19.44 million in 2024.

Middle East and Africa Medical Gas Equipment Market

According to Cognitive Market Research, the global medical gas equipment market size was estimated at USD 2415.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 48.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031..

• The GCC Countries medical gas equipment market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 20.67 million in 2024. The GCC's increasing healthcare investments and infrastructure development drive demand for medical gas equipment, supporting advanced healthcare services and improving patient outcomes.
Egypt medical gas equipment market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 5.07 million in 2024. South Africa medical gas equipment market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 7.63 million in 2024. Growing healthcare needs and investments in improving medical infrastructure drive the demand for medical gas equipment, enhancing patient care and treatment facilities in South Africa. Turkey medical gas equipment market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 4.15 million in 2024. Nigeria medical gas equipment market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 5.07 million in 2024. Rest of MEA medical gas equipment market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 5.70 million in 2024.

Medical Gas Equipment Market Analysis

Medical Gas Equipment Market Product Segment Analysis

According to Cognitive Market Research, cylinders and accessories are likely to dominate the medical gas equipment market over the forecast period due to their essential role in storing and delivering medical gases across various healthcare settings. Their versatility, widespread use in hospitals, and the need for reliable and portable solutions for patient care drive consistent demand. Additionally, advancements in cylinder technology and safety features contribute to their sustained market leadership.

The vacuum systems/pumps is the fastest-growing segment in the medical gas equipment market due to increasing adoption in surgical and critical care environments. Their role in efficient suction and debris removal during procedures is crucial. Technological advancements and the rising demand for minimally invasive surgeries boost the need for advanced vacuum systems, enhancing their market growth.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Medical Gas Equipment Industry. Request a Free Sample PDF!

Medical Gas Equipment Market End-Use Segment Analysis

According to Cognitive Market Research, the hospitals segment holds the largest share of the market due to the extensive use of medical gas equipment in various hospital departments, including emergency care, surgery, and intensive care units. The continuous need for reliable gas delivery systems to support complex medical procedures and patient care drives sustained demand and investment in hospital infrastructure.

In the medical gas equipment market, the home healthcare has been expanding at a rapid pace due to the growing trend of patient care at home, driven by advancements in portable medical gas technologies. Increasing patient preference for home-based care, coupled with the aging population and the need for continuous respiratory support, fuels the demand for efficient and user-friendly medical gas solutions in home settings.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

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