PUBLISHER: MarketsandMarkets | PRODUCT CODE: 2076887
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 2076887
The global medical gas and equipment market is projected to reach USD 30.05 billion by 2031 from USD 21.03 billion in 2025, at a CAGR of 6.2% during the forecast period.
| Scope of the Report | |
|---|---|
| Years Considered for the Study | 2025-2031 |
| Base Year | 2024 |
| Forecast Period | 2025-2031 |
| Units Considered | Value (USD billion) |
| Segments | Type, Application, End User, and Region |
| Regions covered | North America, Europe, APAC, LATAM, MEA |
The medical gas and equipment market is witnessing consistent growth. This is largely due to increased demand for respiratory care, critical care, and surgical procedures across healthcare systems worldwide. The rising prevalence of chronic diseases such as COPD, asthma, and cardiovascular disorders, along with a growing elderly population, has significantly increased dependence on medical gases and related delivery equipment. Moreover, the development and refurbishment of hospital buildings, ambulatory surgical centers, and home healthcare services, especially in developing countries, are leading to new medical gas infrastructure installations and upgrades. Furthermore, innovations in gas delivery systems, portable devices, and monitoring solutions are revolutionizing treatment efficiency and making care more accessible. Together, these factors are driving continued growth in the medical gas and equipment market.

"By type, the medical gases segment is expected to have the largest market share in the medical gas and equipment market."
Medical gases represent the largest segment in the medical gas and equipment market by type, owing to their indispensable and constant use across nearly all healthcare settings. Gases such as oxygen, medical air, nitrous oxide, nitrogen, and carbon dioxide play a vital role in respiratory therapy, anesthesia, intensive care, emergency treatment, and a wide range of diagnostic and therapeutic procedures. While equipment is purchased or replaced on a one-time basis, medical gases are consumables that require a regular supply; hence, demand for them is consistently high. The escalating number of chronic disease cases, increasing surgical procedures, and rising hospital and ICU admissions continue to fuel medical gas consumption. Furthermore, the growth of home healthcare and long-term oxygen therapy, coupled with stringent regulatory requirements that guarantee uninterrupted gas availability in healthcare facilities, are among the reasons medical gases still hold the largest share of the overall medical gas and equipment market.
"By application, the therapeutic applications segment is expected to have the largest market share in the medical gas and equipment market."
Therapeutic uses account for the largest share of the application segment in the medical gas and equipment market, as medical gases are of prime importance to the treatment and management of various acute and chronic conditions. Oxygen, nitrous oxide, and medical air are used in almost all cases of respiratory therapy, critical care, emergency medicine, anesthesia, and pain management, making them essential equipment in hospitals, clinics, and home care. With the rise in the number of people suffering from chronic respiratory and cardiovascular diseases, along with the increase in the elderly population, there has been a consequent demand for long-term, continuous therapeutic gas administration. In addition, more hospital admissions, higher surgical volumes, and the expanded use of home healthcare and long-term oxygen therapy further support the prominence of therapeutic applications. Consequently, the continuous, large-scale use of medical gases for patient treatment continues to drive the leading share of this segment in the medical gas and equipment market.
"The US is expected to grow at the highest CAGR for the North America medical gas and equipment market."
The US market for medical gases and equipment is projected to have the highest CAGR in North America, driven by advanced healthcare infrastructure and high healthcare spending. Rising chronic respiratory and cardiovascular illnesses and an aging population are major factors behind substantial demand for medical gases such as oxygen and their delivery equipment. In addition, increased hospitalizations, growth in ICU facilities, and rising surgical volumes are accelerating the installation and upgrades of medical gas pipeline systems and equipment. The boom in home healthcare and the long-term oxygen therapy market, along with stringent patient safety regulations and compliance requirements, are propelling the market to grow faster. On top of that, ongoing technological progress and the presence of prominent medical gas manufacturers and service providers in the U.S. are helping the country maintain its position as the fastest-growing market in North America.
Prominent players in the medical gas and equipment market are Air Liquide (France), Linde Plc (Germany), Taiyo Nippon Sanso Corporation (Japan), Air Products and Chemicals Inc. (US), Atlas Copco AB (Sweden), GCE Group (Sweden), Messer SE & Co. KGaA (Germany), SOL Spa (Italy), Rotarex (Europe), Norco Inc. (US), Genstar Technologies (US), Southern Gas Limited (India), Calox Inc. (US), Ellenbarrie Industrial Gases (India), Steelman Gases Pvt. Ltd. (India), Butler Gas Products Company (US), SCI Analytical (US), Amico Group of Companies (US), Oxygen & Argon Works Ltd. (Israel), AOPL (India), Apex Medical Gas Inc. (US).
The report analyzes the medical gas and equipment market and aims to estimate the market size and future growth potential across various segments, including type, application, end user, and region. The report also includes a competitive analysis of the key players in this market, along with their company profiles, service offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will provide market leaders and new entrants in this market with the closest available estimates of revenue for the overall medical gas and equipment market. It will help stakeholders understand the competitive landscape and gain insights to position their businesses more effectively and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.