Medical Gas Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Apr 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Medical Gas market size is expected to be worth around US$ 25.1 billion by 2030, according to a new report by Vision Research Reports.

The global Medical Gas market size was valued at US$ 17.5 billion in 2020 and is anticipated to grow at a CAGR of 19.0% during forecast period 2021 to 2030.

Growth Factors

The medical gases market is anticipated to witness a positive growth during the study period from 2016 to 2024. This growth is attributed to a majority of factors, such as the high prevalence of chronic diseases including heart diseases, stroke, asthma, cancer, diabetes, and obesity. Increasing adoption of sedentary lifestyles and unhealthy diets coupled with the significantly large aging population is resulting in the high incidence of chronic diseases in the developed regions. However, the worldwide shortage of helium, largely concerning the manufacturers of medical equipment, and the stringent government rules and regulations are expected to hamper the market growth.

The pure gases segment is expected to witness a significant growth rate in the developing countries due to its high demand and increasing usage in the healthcare industry. The increasing demand for advanced medical gas equipment, such as vacuum systems and manifolds, is propelling the growth of this segment. Based on applications, the vertical has been further classified into therapeutics, diagnostics, drug discovery and development, clinical research, and quality control. The therapeutics segment is expected to witness a significant growth rate during the forecast period due to their high demand as medicinal products and the related equipment in hospitals & other healthcare centers.

Report Highlights

On the basis of product, the medical gases market is segmented into pure gases and gas mixtures. Pure gases consist of medical air, Carbon Dioxide, Oxygen, Nitrogen, Nitrous Oxide, and Helium. Medical gas mixtures consist of Carbon Dioxide-Oxygen mixtures, Oxygen-Nitrous Oxide mixtures, Ethylene Oxide, Oxyfume 2000, Helium Oxygen mixtures, aerobic mixtures, anaerobic mixtures, blood gas mixtures, laser gas mixtures, and lung mixtures.

Medical pure gases held the largest market share owing to increasing number of patient hospitalization, and rise in patients suffering from respiratory diseases globally. Oxygen held the largest revenue and also showcases the highest CAGR during the forecast period. Since the gas plays a vital role in providing respiratory support, Oxygen provides a base for all modern anesthetic techniques and life support for artificially ventilated patients. The gas is pivotal to restore tissue oxygen tension by bringing about an improvement in oxygen availability in various conditions such as cyanosis, COPD, shock, severe hemorrhage, respiratory/cardiac arrest and major trauma.

Medical air is also expected to gain a considerable market share owing to its varied use in the treatment and management of patients. Medical air is used for respiratory therapy and humidity treatments via nebulizers. Patients with extremely delicate respiratory system and sensitive to oxygen toxicity are provided with medical air to maintain the oxygen exposure. Thus, medical air with a CAGR of 8.9% is also expected to gain a lucrative market share during the forecast period.

Medical gas mixtures are also expected to gain a significant market share owing to increasing use in therapeutic and diagnostic applications. The largest market revenue in 2016 was held by Carbon Dioxide-Oxygen mixtures as they are used extensively for the assessment of chronic respiratory diseases such as asthma, bronchitis, and COPD among others and is used in combination with radiation therapy for the treatment of cancer. Additionally, the gas is also used for various oxygenation and anesthetic mixtures for the management of conditions such as renal dialysis, chronic respiratory obstruction and cardio-pulmonary bypass surgery. With a global rise in respiratory diseases and cancer, the demand for medical air is expected to increase in the near future.

Other medical gas mixtures such as , Helium Oxygen mixtures, blood gas mixtures, and anaerobic mixtures are also expected to gain lucrative market share owing to increasing usage among various applications such as therapeutic, diagnostic, and drug discovery and development among others.

Based on application, the market is segmented into therapeutic, diagnostic, and others. The other applications taken into consideration are pharmaceutical manufacturing, biotechnology, and other research activities. The therapeutic application held the largest market revenue in 2016 owing to a broad range of medical gases used to treat and manage various disease conditions. Medical gases used for diagnostics are also expected to gain a lucrative market share with the highest CAGR of 10% during the forecast period.

Medical gases are needed to standardize and maintain medical devices used for the delivery of anesthetic gases. They are usually used for patient diagnostics such as blood gas analysis and lung function testing. For instance, liquid helium is required in MRI to cool down superconductive magnets coil scanners. Thus, varied usage of these gases is expected to propel their market growth.

Medical gas equipment involves various types of products including manifolds, vacuum systems, alarm systems, flowmeters, medical air compressors, cylinders, hose assemblies and valves, outlets, regulators and masks. Medical gas vacuum systems are used to provide safe and sufficient flows at desired pressure levels to the medical gas outlets or vacuum inlet terminals. This product held the largest share in 2016 and is expected to continue to maintain its dominance throughout the forecast period owing to its rapidly increasing penetration rates and relatively higher prices.

Masks showcased the highest CAGR of 10.9% during the forecast period owing to its frequent usage for medical gas administration. Since medical gas outlets play an important role in the distribution of medical gases, they are also expected to gain a lucrative market share in the near future. Medical air compressors which are mechanical devices that store air by compression and later used in air driven medical equipment such as dental tools, ventilators and nebulizers are also expected to gain a significant share in the market.

The key regions considered in the medical gases market are North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The U.S. is the estimated to dominate the overall market with the largest market share. In addition, the increasing geriatric population along with increasing prevalence of chronic diseases is expected to further enhance the sector growth in the North American region.

The European region followed closely after the North American region in terms of market share.  Some of the major factors attributing to the growth of this region is the presence of various associations such as the EIGA (European Industrial Gases Association) and MGA (Medical Gas Association) which aid in providing standard rules and regulations for medical gas manufacturers.

On the other hand, Asia Pacific is anticipated to be the fastest growing segment, owing to densely populated nations such as China and India and an increase in healthcare spending in the respective nations.

Key Players

The Linde Group; Airgas, Inc.; BeaconMedaes; Medical Gas Solutions Ltd.; Air Products and Chemicals; Praxair, Inc.; Air Liquide; and Matheson Tri-Gas among others.

Market Segmentation

  • Gas Type Outlook

    • Pure Gases

      • Medical Air

      • Carbon Dioxide

      • Oxygen

      • Nitrogen

      • Nitrous Oxide

      • Helium

    • Gas Mixtures

      • Carbon Dioxide Oxygen Mixtures

      • Oxygen-Nitrous Oxide Mixtures

      • Ethylene Oxide

      • Oxyfume 2000

      • Helium Oxygen Mixtures

      • Aerobic Mixtures

      • Anaerobic Mixtures

      • Blood Gas Mixtures

      • Laser Gas Mixtures

      • Lung Mixtures

  • Equipment Outlook

    • Manifolds

    • Vacuum Systems

    • Alarm Systems

    • Flowmeters

    • Medical Air Compressors

    • Cylinders

    • Hose Assemblies and Valves

    • Outlets

    • Regulators

    • Masks

  • Application Outlook

    • Therapeutic

    • Diagnostic

    • Others

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • The Middle East and Africa

      • South Africa

The Medical Gas market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Medical Gas market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Medical Gas market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Gas market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Gas market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Medical Gas capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Medical Gas by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Gas market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Gas market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Gas market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Medical Gas industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Medical Gas market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Gas market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Gas market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Gas market. These factors have benefited the growth of the global market for Medical Gas. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Gas. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Medical Gas are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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