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Medical Gases and Equipment Market to surpass US$ 18090.7 Million globally by end of 2027, Says CMI

SEATTLE, May 14, 2020 (GLOBE NEWSWIRE) -- Medical gas systems are commonly color coded to identify their contents. Oxygen supply is maintained at 345–380 kPa (50.0–55.1 psi), whereas medical air is maintained at 345–380 kPa (50.0–55.1 psi).

The global medical gases and equipment market is estimated to account for US$ 18,090.7 Mn in terms of value by the end of 2027.

Global Medical Gases and Equipment Market: Drivers

Increasing prevalence of pandemic diseases is expected to propel growth of the global medical gases and equipment market over the forecast period. For instance, as of May 12, 2020, there have been 4,098,018 confirmed cases of COVID-19, including 283,271 deaths worldwide as reported to the World Health Organization.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.

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Global Medical Gases and Equipment Market: Opportunities

R&D in medical gases is expected to offer lucrative growth opportunities for players in the global medical gases and equipment market. For instance, in August 2018, researchers from University of Extremadura, Spain, reported analysis of annual consumption rates of oxygen, nitrogen, medicinal air, carbon dioxide, and nitrogen protoxide in Spanish hospitals and that oxygen and medicinal air consumption rates were highly correlated to the number of workers in the hospitals.

Moreover, market players may focus on offering annual inspections and staff training to avoid equipment related mishaps.

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Key Takeaways:

The global medical gases and equipment market was valued at US$ 9,759.0 Mn in 2019 and is forecast to reach a value of US$ 18,090.7 Mn by 2027 at a CAGR of 8.0% between 2020 and 2027. Increasing home healthcare expenditure is expected to propel growth of the global medical gases and equipment market over the forecast period

Medical equipment segment held dominant position in the global medical gases and equipment market Medical gases in 2019, accounting for 50.7% share in terms of value, followed by segment 2 and segment 3, respectively. Increasing prevalence of chronic diseases is anticipated to propel the growth of the market during the forecast period.

Market Trends:

Emergence of Covid-19 is expected to increase demand for oxygen generators. Hospitals are adopting oxygen generators to produce oxygen on site and the production capacity of a generator is sized according to the specific needs of each hospital.

Major players in the market are focused on adopting partnership strategies to enhance production of medical gas and equipment during the Covid-19 pandemic. For instance, in April 2020, Air Liquide partnered with Hyundai Motor India to help Hyundai Motor India to augment its production capabilities to supply of Ventilators in Tamil Nadu, India, as part of Air Liquide’s response to the COVID-19 pandemic.

Competitive Landscape

Major players operating in the global gases and equipment market include, Air Liquide S.A., Praxair, Inc. (The Linde Group), BeaconMedaes LLC, NOVAIR, Air Products and Chemicals Inc., Medical Gas Solutions, Airgas Inc., and MATHESON Tri-Gas Inc.

Key Developments  

Major players in the market are focused on adopting various marketing strategies to enhance their market share. For instance, in October 2019, NOVAIR participated the Hôpital Expo Paris held in Paris, France, to demonstrate its wide range of medical oxygen on-site production systems.

Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in March 2019, Airgas, an Air Liquide company, acquired TA Corporate Holdings, Inc., an independent distributor of industrial gases and welding supplies in the U.S.

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Taxonomy (Scope, segments)

  • Medical Gases and Equipment Market, By Product Type:
    • Medical gases
      • Pure Gases
      • Gas Mixtures
    • Medical equipment
      • Manifolds
      • Outlets
      • Hose Assemblies and Valves
      • Alarm Systems
      • Cylinders and Accessories
      • Flowmeters
      • Regulators
      • Medical Air Compressors
      • Vacuum Systems
      • Masks
  • Medical Gases and Equipment Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Country:
        • South Africa
        • Central Africa
        • North Africa


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