Medical Gas Equipment Market Scope
Medical gas equipment is the equipment used to store and delivers medical gases. There are numerous gases used in medical facilities such as oxygen, nitrous oxide, nitrogen, carbon dioxide, medical air, and others. The companies are providing a complete range of medical gas solutions and services. The global medical gas equipment market is expected to witness high demand in the forecasted year due to the ongoing COVID 19 pandemic coupled with increasing demand for oxygen cylinders. The application of Medical Gas Equipment is countless and in recent years, the demand has increased substantially. Growing prevalence of chronic diseases, an increasing number of industry-friendly safety initiatives undertaken by the government, implementation of the U.S. FDA safety and innovation act, increasing base of geriatric population, and growing demand for home healthcare and point of care products are some of the major factors boosting the growth of the medical gases equipment market. A major factor restraining the market growth is the dearth of proper reimbursement policy as well as a global shortage of helium due to the shutdown of the Federal Helium Reserve. Furthermore, market expansion in emerging countries across APAC will create lucrative the opportunity in the forecasted period. The global medical gas equipment market was estimated to be around USD 4,968.6 million in 2019, according to the AMA study.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Largest Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Linde (Ireland), Taiyo Nippon Sanso Corporation (Japan), Atlas Copco (Sweden), Chart Industries, Inc. (United States), Amico Group of Companies (Canada), Air Liquide (France), Rotarex (Luxembourg), Ohio Medical Corporation (United States), Anest Iwata (Japan), Busch Vacuum India Pvt Ltd. (India), Precision UK Ltd (United Kingdom), MEC Medical Ltd (United Kingdom), Tri-Tech Medical Inc. (United States), NOVAIR MEDICAL (France), Colfax Corporation (United States), Delta P S.r.l (Italy), Medicop (Slovenia), Flow-Meter S.p.A. (Italy), SHANGHAI AMCAREMED TECHNOLOGY Co., LIMITED (China), Avante Health Solutions (United States), GENSTAR TECHNOLOGIES (United States), Shanghai Huifeng Medical Instrument (China), Bay Corporation (United States), Solberg Manufacturing, Inc. (United States), Megasan Medikal (Turkey), SMP Corp. (United States), INSPITAL (Turkey), INMED-Karczewscy (Poland) and Silbermann (Israel) |
CAGR | 6.83% |
"According to AMA, the Global Medical Gas Equipment market is expected to see growth rate of 6.83% and may see market size of USD7384.0 Million by 2030."Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Medical Gas Equipment market throughout the predicted period.
Linde (Ireland), Taiyo Nippon Sanso Corporation (Japan), Atlas Copco (Sweden), Chart Industries, Inc. (United States), Amico Group of Companies (Canada), Air Liquide (France), Rotarex (Luxembourg), Ohio Medical Corporation (United States), Anest Iwata (Japan), Busch Vacuum India Pvt Ltd. (India), Precision UK Ltd (United Kingdom), MEC Medical Ltd (United Kingdom), Tri-Tech Medical Inc. (United States), NOVAIR MEDICAL (France), Colfax Corporation (United States), Delta P S.r.l (Italy), Medicop (Slovenia), Flow-Meter S.p.A. (Italy), SHANGHAI AMCAREMED TECHNOLOGY Co., LIMITED (China), Avante Health Solutions (United States), GENSTAR TECHNOLOGIES (United States), Shanghai Huifeng Medical Instrument (China), Bay Corporation (United States), Solberg Manufacturing, Inc. (United States), Megasan Medikal (Turkey), SMP Corp. (United States), INSPITAL (Turkey), INMED-Karczewscy (Poland) and Silbermann (Israel) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Medical Gas Solutions (United Kingdom) and Air Gas Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Medical Gas Equipment market by Type , by Application (Therapeutic Applications {Respiratory Therapies, Cardiovascular Therapies, Anesthesia Delivery, Cryosurgery, Others}, Pharmaceutical Manufacturing & Research {Drug Discovery, Pharmaceutical Manufacturing, Others}, Diagnostic Applications { Medical Imaging, General Laboratory Applications} and Others) and Region with country level break-up. On the basis of Type, Vacuum System are dominating the market in the year 2023 where as Manifolds stood as second largest market share.
On the basis of application, Therapeutic Applications segment is dominating the market in the year 2023 where as Pharmaceutical Manufacturing & Research segment stood as second largest market.
On the basis of geography, the market of Medical Gas Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In August 2019, German industrial gases maker Linde AG has agreed to sell its South India business to Japan’s Air Water Inc. (AWI) as part of a deal to complete its global merger with US-based Praxair Inc.
In July 2019, Atlas Copco has acquired the operating assets of MGES Inc., a service supplier of medical gas solutions including distribution and service of medical gas systems.
Influencing Trend:
Increase in Adoption from Home Healthcare Segment
Market Growth Drivers:
Rising Occurrence of Chronic Diseases Across the Globe and Favorable Initiatives Undertaken by Government Organizations
Challenges:
Global Shortage of Helium Due to the Shutdown of the Federal Helium Reserve
Restraints:
High Cost of Initial Investment
Opportunities:
Technological Advancement Associated with Gas Equipment and High Demand for The Pure Medical Gases
Analyst View
Despite using oxygen medically for over 100 years and WHO classifying it as an essential medicine in 2017, large population groups, especially in developing countries, do not have access to adequate supplies. WHO has consistently raised alerts about the ongoing and persistent shortages in Africa, the Middle East, and other developing regions. The adverse impact of the shortage is most critically felt in neonatal care, with an estimated half a million new-borns around the world dying annually from oxygen shortages. As COVID-19 patient-care protocols have evolved, medical-grade oxygen is considered essential to treatments for critically ill patients, such as invasive ventilation and low- and high-flow oxygen therapies. In regions such as Africa and the Middle East, the surge in demand for medical oxygen to treat COVID-19 exacerbates pre-existing gaps in medical oxygen supplies, leading to substantial supply shortages. Even though these regions may have lower incremental demand for oxygen to treat COVID-19 than, say, China, their lower pre-existing supplies will contribute to greater shortages.
Key Target Audience
Manufacturer, Government Bodies, Research Center, Suppliers & Distributors, Potential Investors and Others