Medical Gases and Equipment Market Size, Key Players and Future Scope

As per a report by P&S Intelligence, the global medical gases and equipment market is predicted to generate a revenue of $21.6 billion by 2022, and is projected to exhibit an 8.0% CAGR during the forecast period. Medical gases are used for different purposes in healthcare facilities and are generally administered in patients in pre-operative, intra- and post-operative, and emergency situations. Medical gases are supplied in color coded, airtight, and well-labeled containers, as per the requirements of regulatory authorities of different countries. This is to ensure that there are no cases of medical gas mix ups, which can put the life of a person at risk.

Between medical gas and medical gas equipment, the demand for medical gases has been higher in medical settings and the situation is expected to remain the same in the coming years as well. Two types of medical gases are utilized in healthcare settings, namely pure medical gas (including helium, oxygen, carbon dioxide, nitrous oxide, nitrogen, and medical air medical gas) and medical gas mixture (including ethylene oxide, blood gas, helium oxygen, lung diffusion, anaerobic, nitrous oxide-oxygen, laser, and carbon dioxide-oxygen mixture). Other than this, medical gas equipment is of different types as well, namely medical gas delivery system, medical has equipment accessories, and medical oxygen concentrator.

Geographically, North America emerged as the largest medical gases and equipment market in the past, owing to the advanced healthcare infrastructure. Other than this, the demand for medical gases and equipment is also rising in the European region, which is primarily due to the rising prevalence of chronic and respiratory diseases and increasing requirement for home healthcare. In addition to this, the surging geriatric population and rising healthcare expenditure are also driving the demand for medical gases and equipment in the region.

Hence, the adoption of medical gases and equipment is growing across the globe due to the rising prevalence of diseases and increasing geriatric population. 

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