USD 12.8 billion
Report ID: SQSG35B2022 | Region: Global | Published Date: September, 2022 | Pages: 165 | Tables: 88 | Figures: 76
Global Medical Gas Market size was valued at USD 12.8 billion in 2021 and is poised to grow from USD 13.83 billion in 2022 to USD 24.33 billion by 2030, growing at a CAGR of 8.1% in the forecast period (2023-2030).
The market is primarily driven by the increased prevalence of chronic diseases and beneficial measures launched by governmental organizations. Other factors driving the market include the growing senior population and rising demand for point-of-care and at-home healthcare goods. The need for medical gases is being driven by the increasing prevalence of Chronic Respiratory Diseases (CRDs), such as pulmonary hypertension, chronic obstructive pulmonary disease, occupational lung diseases, and asthma. For instance, according to WHO data, more than 3.0 million people worldwide pass away each year from chronic obstructive pulmonary disease (COPD), which accounts for around 6% of all fatalities and may overtake cancer as the third-leading cause of death by 2028. Additionally, according to the same report, asthma affects almost 235.0 million individuals. These respiratory diseases are treated and diagnosed using medical gases including oxygen, lung gas mixes, and heliox.
Long-term use of oxygen may lessen the pressure on the heart and help prevent pulmonary arterial hypertension. Therefore, the market is being driven ahead by the increased prevalence of respiratory illnesses. The COVID-19 epidemic had a tremendous impact on the market. Due to the pandemic's heightened demand, there were shortages of medical oxygen, which ultimately created a significant disruption in the oxygen market and supply chain breaks. For instance, according to data from Business Standard Private Ltd., the demand for liquid medicinal oxygen (LMO) in India was 700 tonnes per day before the epidemic (TPD). Demand for LMO surged by a factor of four during Covid-19's initial wave, reaching 2,800 TPD. The second wave has also resulted in a rise in demand of 5,000 TPD, or more than seven times the pre-Covid levels.
The demand for medical oxygen is increasing 5–10 times more than usual, according to a survey conducted by the European Industrial Gases Association, whose members include Air Liquide and Linde. In Italy and Eastern France, medical oxygen demand was 4-6 times higher than the average, according to Air Liquide. Therefore, the industry had a tremendous surge in growth as a result of the aforementioned variables. The rising demand from the healthcare sector is expected to be reduced over the next several years as the global COVID-19 status improves. However, it is expected that the demand for medicinal gases would continue to be stronger than it was before COVID-19.
In addition, the pandemic has sparked the creation of fresh ideas that will help the many individuals suffering from respiratory illnesses get the oxygen they need. Additionally, the industry will be driven post-COVID-19 by the growing use of home healthcare. Additionally, the market is developing as a result of an increasing number of FDA approvals for medical gas equipment. For medical oxygen gas compartments and closures, the Food and Drug Administration (FDA) is recommending updating its Current Good Manufacturing Practice (CGMP) regulations to incorporate new colour, labelling, design, and dedication standards. With the help of these standards, medical oxygen gas cylinders should be easier to identify, there will be less of a chance that industrial or other gas containers will be mistakenly connected to medical oxygen supply systems, and there will be less of a chance of medical gas pollution.
The demand for medical gases is expected to be indirectly driven by the aging, rising population who are more sensitive to chronic illnesses. Due to reduced immune systems, the elderly are more susceptible to chronic illnesses. The WHO estimates that by 2028, there may be 2.1 billion persons worldwide who are 60 years of age or older. Moreover, by 2028, there will probably be 426 million people who are 80 years of age or older. The number of elderly people has significantly increased, which has led to an increase in the prevalence of respiratory diseases. For instance, according to data from the Princeton Health Care Center, about 15.0% persons had asthma, COPD, or another respiratory illness. Such data demonstrate how the market may finally be driven during the forecast period due to the expected increase in oxygen supply demand.
Rising demand for packaged medical-grade gases is predicted to drive market growth as demand for home healthcare and point-of-care diagnostics markets increases (such as oxygen). The Food and Drug Safety and Innovation Act was put into force by a measure that the US Congress approved in July 2021. Due to the abolition of drug user fees for medical gas manufacturers and the establishment of a uniform certification procedure for medical gas, among other things, this legislation is expected to serve as a driver for this market throughout the forecast period.
US Medical Gas Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 12.8 billion
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Global Medical Gas Market is segmented based on Product, Application, End Use, and Region. Based on Product the Medical Gas Market is further sub segmented into Pure Gases, Gas Mixtures. Based on Application the Medical Gas Market is further sub segmented into Therapeutic, Diagnostics. Based on End Use the Medical Gas Market is further sub segmented into Hospitals, Ambulatory Surgical Centers, Home Healthcare. Based on Region, the Medical Gas Market is further sub segmented into North America, Europe, Asia Pacific, South America, and MEA.
Medical Gas Market Analysis by Product
In terms of revenue, the pure gases sector had the biggest market share in 2021, accounting for around 57.0 %. The rise of this market is primarily being driven by factors including the rising incidence of chronic diseases, the rising number of patient hospitalizations, and global road accidents. For instance, according to figures from the United Nations from 2021, 50 million injuries and 1.3 million deaths worldwide occur each year as a result of traffic accidents. The need for oxygen therapy in various life care settings is developing significantly due to the increase in traffic accidents.
The oxygen category in pure gases is expected to experience the greatest CAGR of 8.2% throughout the projection period. Because oxygen serves such a crucial role in respiratory support, it forms the foundation for all contemporary anaesthetic operations and life support for patients who are artificially ventilated. The gas is essential in restoring tissue oxygen tension by increasing oxygen availability in a number of disorders including cyanosis, COPD, shock, severe bleeding, respiratory/cardiac arrest, and substantial trauma.
A tight-fitting anaesthetic mask or a facial mask that can contain up to 60% of the oxygen are usually used to supply oxygen to patients. Gas cylinders are frequently used for oxygen delivery. The Pharma Review further notes that the usage of 20–40% oxygen in the treatment of COPD, 40-60% oxygen in the treatment of bronchial asthma, and 100–% oxygen in the treatment of severe hypoxia and noxious gas poisoning are all factors contributing to the expansion of this market. In addition, oxygen gas is required for life support in patients admitted to intensive care units (ICUs) and ambulatory care for several types of procedures. This means that the category is projected to rule the market during the projection period due to its high usability and demand.
Due to its numerous applications in patient care and treatment, the medical air segment is predicted to grow at a CAGR of 7.8% throughout the forecast period. In nebulizers, medical air is utilised for respiratory treatments and humidity control. Patients with sensitive respiratory systems who are prone to oxygen poisoning are given medical air. Additionally, it is widely used in ICU and NICU. The market is therefore expected to experience a significant growth rate throughout the forecast period as a result of the aforementioned factors.
Due to its growing use in therapeutic and diagnostic applications, the gas mixes category is expected to experience the quickest CAGR of 8.2% throughout the forecast period. Lung diffusion mixes, which are used in pulmonary function tests and to calibrate analytical devices that measure the amount of carbon monoxide dispersed in the lungs, held the biggest market share in 2021. These diagnostic procedures are utilised in a variety of medical specialties, such as intensive care, neonatal care, rehabilitation, wellness and disability evaluations, and the diagnosis of illnesses affecting the respiratory, digestive, and cardiovascular systems.
During a pulmonary function test, the patient inhales a lung diffusion mixture that contains a small amount of carbon monoxide. The patient's breath is gauged to see how well the carbon monoxide has spread throughout the lungs. The helium component of the lung diffusion mixture determines the lung volume. This means that the category is expected to increase at a high rate in the forecast period due to its broad applicability and rising prevalence of respiratory illnesses.
Medical Gas Market Analysis by Application
Due to the wide variety of medical gases used to manage and treat a variety of disease conditions, the therapeutic application segment had the biggest market share in terms of revenue in 2021, accounting for 40.1% of the total. Gases used for medical treatment are regarded as medications and are subject to strict purity and quality standards. The most common therapeutic gases include oxygen, medical air, nitric oxide, carbon dioxide, and helium-oxygen mixes. All healthcare settings, from anaesthesia to inhalation therapy, frequently use medical oxygen.
Medical nitrous oxide is utilised for anaesthesia, pain treatment, laparoscopic abdominal cavity inflation, and cryosurgery as a refrigerant. Carbon dioxide is widely used as an insufflation gas to enlarge and stabilize body cavities during minimally invasive surgery (laparoscopy, endoscopy, and arthroscopy) in order to improve sight of the operating area. In breathing mixes for individuals with compromised lungs, helium is a gas used. Medical gas usage has increased for a variety of clinical applications as a result of significant improvements in the therapeutic uses of medical gases. During the forecast period, the diagnostics category is also expected to grow at a lucrative CAGR of 8.6%. The fastest rise can be attributed to its expanding use in general laboratory applications and medical imaging. One of the culture growth applications utilised in labs is controlled aerobic or anaerobic incubator settings for biological cell culture or tissue growth. Anaerobic conditions are created by hydrogen- or carbon dioxide-rich mixtures, whereas controlled aerobic conditions are created by oxygen-rich mixtures.
They are moreover typically employed for patient diagnostics, including blood gas analysis and lung function tests. For instance, an MRI requires liquid helium to cool down the scanners' superconductive magnets. Additionally, medical instruments that provide anaesthetic gases are calibrated and maintained using test gases. Therefore, a variety of ways to use these gases for diagnostics is expected to fuel segment expansion.
Medical Gas Market Analysis by End Use
With a market share of roughly 28.4% in terms of sales, the hospital segment dominated the industry. All commercially available medical gases, including carbon dioxide (CO2), oxygen (O2), nitrogen (N2), medicinal air, and nitrogen protoxide (N2O), are frequently used in hospitals. The high prevalence of medical procedures conducted globally and the usage of medical gases in surgical procedures, intensive care, and emergency response all contribute to the segment's dominance. For instance, more than 2 million individuals receive medicinal oxygen each year. Around 18,000 patients every day, or around 17.5 % of hospital patients in the UK, according to the National Health Service, are receiving oxygen at any given moment. The annual usage per hospital bed was calculated to be 350 m3 for oxygen, 325 m3 for medicinal air, 9 m3 for nitrogen protoxide, and 3 m3 for carbon dioxide, according to a research article that was published in MDPI (2021).
During the projected period, the home healthcare category is expected to experience the quickest CAGR of 7.1 %. The growing tendency of moving from hospital to home care is a major factor in this market's expansion. In keeping with this pattern, regulatory organisations are gradually laying the groundwork for a solid foundation to be built in this market. A growing number of respiratory patients are turning to portable devices, including those with lung cancer, COPD, and pneumonia. The need for the product in settings providing home care will rise as a result. Numerous medical gas handling devices used in in-home care now have a wider range of functionality possibilities thanks to technological advancements. The development of compact, lightweight medical gas handling equipment has been beneficial to the expansion of the home healthcare industry.
In addition, medicinal gas cylinder technology has made significant strides during the past five years. In the upcoming years, it is expected that lightweight, non-limited life (NLL) composite cylinders will play a vital role in the development of novel homecare therapies, portable oxygen therapies, and medical gas applications. These products satisfy the end user's requirement for a lightweight cylinder that is far lighter than aluminium cylinders, and they provide patients in the homecare scenario with a number of advantages. As a result, these developments in medical gas equipment are boosting the market's expansion.
Medical Gas Market Analysis by Deployment Mode
During the forecast period, it is expected that the cloud segment will continue to dominate the market. Because centralised monitoring is necessary in industries including banking, financial services, and insurance (BFSI), media and entertainment, and government, the cloud-based business has grown significantly in recent years. Additionally, cloud-based deployment gives users access to APIs (Application Programming Interfaces) that are present on several servers or sources.
Many businesses are employing cloud-based image processing technologies to protect sensitive information and support their marketing initiatives. These services help consumers incorporate cutting-edge methods into their regular routines without straining their budgets. For instance, deep learning-powered Amazon Rekognition provides highly accurate facial search and facial analysis capabilities that may be utilised for face identification, analysis, and comparison for a range of user verification and public safety use cases. Additionally, developers can use machine learning models with Google Vision, a component of the Google Cloud Platform, to comprehend the content of the image.
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The medical gas market was dominated by North America, which had a revenue share of 35.9 % in 2021 and is expected to rise at a significant rate during the forecast period. The increased use of medicinal gases in the treatment of respiratory conditions including COPD and asthma is responsible for this consistent growth. During the expected timeframe, it is expected that the demand for medical gases in the US will increase due to the increased prevalence of COPD, asthma, and other medical illnesses like cardiovascular and lifestyle-related diseases. Additionally, the US has captured the largest share of the market thanks to the availability of state-of-the-art healthcare facilities, notably intensive care units, a well-established market, and a growing geriatric population.
Additionally, due to the present rise in home oxygen treatment use and the resulting modernization of medical gas standards and the means of supply, the medical gas industry in the US is undergoing a change in standards, analysis, and delivery methods. North America closely trailed Europe in terms of market share, and is expected to grow at a CAGR of 7.9 % during the forecast period. One of the main reasons influencing the development of this region is the existence of several associations, such as the MGA (Medical Gas Association) and EIGA (European Industrial Gases Association), which enable the provision of standard norms and standards for medical gas makers.
The UK's regulatory body for medical gases is the Medicines and Healthcare Products Regulatory Agency (MHRA), an Executive Agency of the Department of Health and Social Care (DHSC). By ensuring that medications, healthcare goods, and medical equipment adhere to the proper safety, quality, performance, and effectiveness criteria and are used appropriately, the MHRA promotes, protects, and enhances public health and patient safety. A rise in hospitals and a rise in the usage of home healthcare settings in countries like the UK, France, Italy, and others are also contributing to the market's expansion in this region. The (WHO) reports that the region's life expectancy has risen recently. It is expected that the growing older population in Europe who are dependent on care would drastically alter the home care industry in the next few years, which will indirectly benefit the market.
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Due to the existence of a small number of significant companies, the market is moderately consolidated. Leading players also participate in partnerships, product launches, mergers, and acquisitions to expand their product lines. For instance, Air Liquide S.A. agreed to buy South Africa's biggest oxygen production facility in June 2021. Strategically, Air Liquide and Sasol agreed that Air Liquide would acquire and run the plant. This plan is expected to improve the company's total manufacturing capability and solidify its position in the market. As a result, the market is expected to grow over the course of the projected period thanks to various strategies adopted by top players. The following are a few of the leading companies in the medical gas market.
Medical Gas Market Top Player’s Company Profiles
Medical Gas Market Recent Development
The US Food and Drug Administration (FDA) Safety and Innovation Act, which went into effect in July 2021 and gives manufacturers the ability to control costs and submit applications for intellectual property rights for new medical gas and equipment products, is a major factor fueling the market's expansion. Additionally, the market is growing due to an increase in home healthcare applications and an aging population. Additionally, the fast urbanization, rise in the prevalence of cigarette use, and rise in the incidence of respiratory ailments all contribute to the market's expansion. However, it is projected that the market expansion will be hampered by the widespread helium shortage, modifications to the requirements for medical gas calibration, and diminishing government reimbursements for respiratory therapy. On the other hand, it is expected that in the near future, market growth in emerging nations and technical advances in medical research would offer attractive opportunities.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the hospital segment dominated the global Medical Gas Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, North America dominated the global Medical Gas Market owing to the region's highly aware and economically stable population.
|Market size value in 2021||USD 12.8 billion|
|Market size value in 2030||USD 13.83 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Medical Gas Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Medical Gas Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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