Fueling Healthcare with Life-Sustaining Gases through Medical Gas

The global medical gas market encompasses a wide range of applications. Medical gases are utilized in respiratory therapy for patients with breathing difficulties, anesthesia during surgical procedures, diagnostic procedures to enhance image quality, neonatal care in NICUs, laboratory applications, emergency care, home healthcare, pharmaceutical manufacturing, dental procedures, and veterinary care. These applications highlight the diverse uses of medical gases across various healthcare settings, contributing to the growth and importance of the global medical gas market.

Access Full Report at https://databridgemarketresearch.com/reports/global-medical-gases-market

Data Bridge Market Research analyses that the Medical Gas Market is valued at USD 2.56 billion in 2021 and is expected to reach USD 4.37 billion by 2029, registering a CAGR of 6.9% during the forecast period of 2022-2029. The rising incidence of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and respiratory distress syndrome is driving the demand for medical gases for respiratory support and treatment.

Key Findings of the Study

Rising demand for home healthcare is expected to drive the market's growth rate

The rising demand for home healthcare services and the preference for receiving medical treatments at home have contributed to the increased demand for medical gases in home settings. Patients who require respiratory therapy or oxygen supplementation can now access these services in the comfort of their own homes, eliminating the need for frequent hospital visits. This trend allows patients to have better quality of life, increased convenience, and reduced healthcare costs, thus driving the demand for medical gases in home healthcare.

Report Scope and Market Segmentation

Segment Analysis:

The medical gas market is segmented on the basis of product, application, method of separation and end user.

• On the basis of product, the medical gas market is segmented into medical gases, medical gas equipment. Medical gases segment dominates the product segment of the global medical gas market due to the essential role of medical gases such as oxygen, nitrous oxide, and carbon dioxide in various medical applications, including respiratory therapy, anesthesia, and diagnostic procedures in the forecast period of 2022 to 2029.

In 2022, the medical gases segment dominates the product segment of the global medical gas market

In 2022, medical gases segment dominates the product segment of the global medical gas market in the forecast period of 2022 to 2029 owing to medical applications, such as respiratory therapy, anesthesia, and diagnostic procedures, require the use of medical gases such as oxygen, nitrous oxide, and carbon dioxide.

• On the basis of application, the medical gas market is segmented into pharmaceutical manufacturing and research, diagnostic applications, therapeutic applications, others. Diagnostic applications segment dominates the application segment of the global medical gas market due to the widespread use of medical gases in diagnostic procedures such as endoscopy, radiology, and laparoscopy for enhanced imaging and accurate diagnosis in the forecast period of 2022 to 2029.

• On the basis of method of separation, the medical gas market is segmented into physical separators, fractional distillation, molecular sieve, semipermeable membrane, others. Fractional distillation segment dominates the method of separation in the global medical gas market due to widely used and effective technique for separating and purifying medical gases, ensuring their quality and compliance with regulatory standards in the forecast period of 2022 to 2029.

In 2022, the fractional distillation segment dominates the method of separation in the global medical gas market

In 2022, the fractional distillation segment dominates the method of separation in the global medical gas market in the forecast period of 2022 to 2029 owing to medical gases that can be separated and purified using this widely used and efficient technique, guaranteeing their quality and regulatory compliance.

• On the basis of end user, the medical gas market is segmented into hospitals, home healthcare, pharmaceutical and biotechnology companies, academic and research institutions, emergency service providers, others. Hospitals segment dominates the end-user segment in the global medical gas market. Hospitals have a higher demand for medical gases due to the large patient population, diverse medical procedures, and the need for continuous supply and administration of medical gases in various healthcare settings in the forecast period of 2022 to 2029.

Major Players

Data Bridge Market Research recognizes the following companies as the major medical gas market players in medical gas market are Praxair Technology, Inc., (U.S.), TAIYO NIPPON SANSO CORPORATION, (Japan), AIMS INDUSTRIES PRIVATE LIMITED (India), scicalgas (U.S.), SOL Group (Italy), Atlas Copco AB (Sweden), Zaburitz Pearl Energy Co., Ltd., (Myanmar)

Market Development

• In 2020, The largest oxygen-producing facility in South Africa will be purchased by Air Liquide S.A. Air Liquide will purchase and run the plant as part of an agreement between Sasol and Air Liquide. The action was taken in an effort to strengthen the business's overall production capacity and, as a result, its position in the market.
• In October 2022, ESAB Corporation, one of the global leader in fabrication and gas control technology, announced that it acquired Ohio Medical, LLC (“Ohio Medical”), one of the global leader in oxygen regulators and central gas systems, from a private investor group for a cash purchase price of $127 million.
• In July 2020, Air Liquide announced the acquisition of Sasol's 16 Air Separation Units (ASU) located in Secunda, South Africa. Air Liquide is expected to operate the biggest oxygen production site in the world with a plan to reduce its CO2 emissions by 30% to 40% within the next ten years.
• In 2023, Atlas Copco AB announced the acquisition of the operating assets of FS Medical Technology Business. FS Medical Technology sells, verifies, and tests piped medical and laboratory gas equipment and systems.
• In January 2023, Atlas Copco AB announced that it acquired MedCore Services Inc. MedCore Services Inc services piped medical gas equipment, including medical air systems, vacuum systems, and pipeline equipment.

Regional Analysis

Geographically, the countries covered in the medical gas market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in medical gas market during the forecast period 2022 to 2029

North America's dominance in the medical gas market can be attributed to several factors. The region has a higher acceptance rate of medical gas usage among end-users, including hospitals, clinics, and home healthcare settings. Additionally, the high prevalence of respiratory disorders in the region, such as asthma and chronic obstructive pulmonary disease (COPD), increases the demand for medical gases for respiratory therapy and treatment. These factors contribute to North America's leading position in the medical gas market.

Asia-Pacific is estimated to be the fastest growing region in medical gas market the forecast period 2022 to 2029

Asia-Pacific is poised to experience substantial growth in the medical gas market for several reasons. The region has a rapidly aging population, leading to a higher prevalence of age-related health conditions and an increased demand for medical gases. There is a growing awareness of healthcare and the importance of medical gas therapy among the population. Additionally, the region is witnessing significant investments in healthcare infrastructure, including hospitals and healthcare facilities, which further drives the demand for medical gases. These factors collectively contribute to the anticipated growth of the medical gas market in Asia-Pacific.

For more detailed information about the medical gas market report, click here – https://www.databridgemarketresearch.com/reports/global-medical-gases-market