Medical Gases Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global medical gases market size reached US$ 13.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.
Medical gases play a pivotal role in the functioning of hospitals and other healthcare facilities, including operating rooms, pre-communicators, recovery rooms, debridement rooms, obstetrics and gynecology wards, intensive care unit (ICU) wards, and general wards. They generally include oxygen, nitrogen, nitrous oxide, argon, helium, carbon dioxide (CO2), and compressed air, which are utilized in several medical procedures for treatment, anesthesia, and driving medical devices and tools. They are free from contamination, particles, oils, or odors and supplied in the dry form either in cylinders or from their central supply source through a piping network.
Medical Gases Market Trends:
The ongoing coronavirus disease (COVID-19) pandemic has triggered a medical emergency for oxygen gas, which is a safe and efficient treatment for patients experiencing breathing difficulties. In line with this, governments of numerous countries are focusing on importing and manufacturing medical oxygen gas to ensure its uninterrupted supply to COVID centers. Apart from this, medical gases like oxygen are used to treat specific health conditions, such as pneumonia, malaria, sepsis, and meningitis. This, in confluence with a significant rise in the number of individuals suffering from these ailments, is acting as another growth-inducing factor. Additionally, children and mothers are often administered medical oxygen to ease breathing when their lives are at risk during medical treatment. Besides this, the increasing prevalence of cancer and the need for surgical interventions are catalyzing the demand for liquid nitrogen as a cryogen to freeze and preserve blood, tissue, and other biological specimens and destroy diseased tissue in dermatology and cryosurgery. Furthermore, the introduction of premium medical-grade gases and gas mixtures is anticipated to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global medical gases market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on gas type, application and end user.
Breakup by Gas Type:
Aerobic Gas Mixtures
Anaerobic Gas Mixtures
Blood Gas Mixtures
Lung Diffusion Mixtures
Medical Laser Mixtures
Medical Drug Gas Mixtures
Breakup by Application:
Biotechnology and Pharmaceutical Industry
Breakup by End User:
Academic and Research Institutions
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Air Products and Chemicals Inc., Airgas Inc. (Air Liquide S.A.), Ellenbarrie Industrial Gases Ltd, Linde plc, Matheson Tri-Gas Inc. (Mitsubishi Chemical Holdings Corporation), Messer Group GmbH, SCI Analytical Laboratories Inc, Sharjah Oxygen Company and SOL Spa.
Key Questions Answered in This Report:
How has the global medical gases market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global medical gases market?
What are the key regional markets?
What is the breakup of the market based on the gas type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global medical gases market and who are the key players?
What is the degree of competition in the industry?
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