IMARC Group, a leading market research company, has recently releases report titled “Medical Gases Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global medical gases market size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Medical Gases Market
Medical gases are gases used in healthcare facilities for diagnostic, therapeutic, and surgical applications. These gases play a vital role in providing essential support to patients and healthcare professionals. Commonly used medical gases include oxygen, nitrous oxide, carbon dioxide, nitrogen, helium, and medical air. Each gas serves a specific purpose, such as oxygen being used to support respiratory function, nitrous oxide as an analgesic and anesthetic agent, and carbon dioxide for insufflation during laparoscopic surgery. Medical gases are produced, stored, and administered in compliance with strict regulatory standards to ensure their purity, quality, and safe usage in medical settings. They are typically delivered through specialized gas supply systems, such as cylinders or pipeline networks, and are integral to delivering quality healthcare services.
How Big Is the Medical Gases Market?
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.
Global Industry Trends and Drivers:
The medical gases market is influenced by several industry trends and drivers. One significant trend is the increasing prevalence of chronic respiratory diseases and the growing aging population. Conditions such as chronic obstructive pulmonary disease (COPD), asthma, and respiratory distress syndrome require medical gases like oxygen for respiratory support. As the global population ages and respiratory diseases become more prevalent, the demand for medical gases is expected to rise. Another driver is the growing number of surgical procedures and advancements in medical technology. Medical gases play a critical role in anesthesia and surgical procedures, providing analgesia and maintaining patient safety during surgery. With the continuous development of minimally invasive surgeries and the expansion of healthcare infrastructure, the demand for medical gases is increasing.
Moreover, the focus on patient safety and the need for stringent regulations are driving the market. Medical gases must meet strict quality standards to ensure patient well-being. Regulatory bodies and healthcare organizations are implementing guidelines and standards to maintain the purity, handling, and storage of medical gases, driving the market for compliant products and services.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Gas Type:
- Pure Gases
- Medical Air
- Medical Oxygen
- Nitrous Oxide
- Carbon Dioxide
- Gas Mixtures
- 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:
- Home Healthcare
- Academic and Research Institutions
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
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.