Global Medical Gases and Equipment Market

Medical Gases and Equipment Market Size, Share, Growth Analysis, By Type(Medical gases and medical gases equipment), By Application(Therapeutic, diagnostics and others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35B2098 | Region: Global | Published Date: March, 2024
Pages: 219 |Tables: 60 |Figures: 75

Medical Gases and Equipment Market Insights

Medical Gases and Equipment Market size was valued at USD 13.12 billion in 2021 and is poised to grow from USD 14.1 billion in 2022 to USD 25.15 billion by 2030, growing at a CAGR of 7.5% during the forecast period (2023-2030).

The global medical gases and equipment market has witnessed significant growth and expansion in recent years. This market encompasses a wide range of gases and equipment used in various medical procedures and therapies. The rising prevalence of chronic diseases, growing geriatric population, and advancements in medical technology are driving the market growth. Medical gases such as oxygen, nitrogen, carbon dioxide, and nitrous oxide play a crucial role in respiratory therapies, anesthesia administration, and surgical procedures. The demand for these gases is escalating due to the increasing number of hospitals, clinics, and ambulatory surgical centers globally. Moreover, the growing awareness regarding the importance of respiratory care and the need for effective infection control measures in healthcare settings are further fueling the demand for medical gases and equipment. Additionally, the market is witnessing a surge in demand for home healthcare services, which requires portable and easy-to-use medical gas equipment. Technological advancements, such as the development of advanced gas delivery systems, monitoring devices, and storage solutions, are also contributing to the market's growth. However, stringent regulatory requirements and safety standards associated with medical gases and equipment pose challenges for market players. Overall, the global medical gases and equipment market is anticipated to continue its upward trajectory in the coming years, driven by increasing healthcare infrastructure, rising patient population, and technological innovations.

US Medical Gases and Equipment Market is poised to grow at a sustainable CAGR for the next forecast year

Market Snapshot - 2024-2031

Global Market Size

USD 13.12 billion

Largest Segment

Oxygen Delivery Systems

Fastest Growth

Oxygen Delivery Systems

Growth Rate

7.5% CAGR

Global Medical Gas Equipment Market ($ Bn)
Country Share for North America Region (%)

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Medical Gases and Equipment Market Segmental Analysis

Global Medical Gases and Equipment Market is segmented by type, application, and region. Based on type, the market can be segmented into Medical gases and medical gases equipment. Based on application, the market is segmented into Therapeutic, diagnostics and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Type

The dominant segment in the global medical gases and equipment market is medical gases. Medical gases, including oxygen, nitrogen, carbon dioxide, and nitrous oxide, are essential for various medical procedures and therapies. They are extensively used in respiratory support, anesthesia administration, surgical procedures, and diagnostic testing. The high demand for medical gases is primarily driven by the increasing prevalence of respiratory diseases, the rising number of hospital admissions, and the growing need for emergency care services. Additionally, the ongoing COVID-19 pandemic has further surged the demand for medical gases, particularly oxygen, due to the respiratory complications associated with the virus.

On the other hand, the fastest-growing segment in the market is medical gases equipment. This includes a range of equipment such as gas delivery systems, gas cylinders and containers, regulators, flow meters, suction systems, masks, and ventilators. The demand for medical gases equipment is witnessing rapid growth due to advancements in technology, increasing focus on patient safety, and the need for efficient gas delivery and monitoring systems. Additionally, the rising trend of home healthcare services and the growing preference for portable and user-friendly medical gas equipment are driving the market's growth. The development of innovative gas storage solutions, remote monitoring devices, and integrated systems is further propelling the demand for medical gases equipment in the healthcare industry.

Analysis by Application

The dominant application segment in the global medical gases and equipment market is therapeutic. Therapeutic applications involve the use of medical gases for respiratory support, anesthesia administration, and the treatment of various respiratory disorders. Medical gases such as oxygen play a crucial role in maintaining adequate oxygen levels in patients with respiratory conditions, while nitrous oxide is commonly used as an anesthetic during surgical procedures. The therapeutic segment holds a significant market share due to the high demand for respiratory therapies, the increasing prevalence of chronic respiratory diseases, and the growing number of hospital admissions globally.

On the other hand, the fastest-growing application segment in the market is diagnostics. Diagnostic applications involve the use of medical gases for various diagnostic procedures, including imaging and laboratory testing. Medical gases such as carbon dioxide are commonly used in medical imaging techniques like computed tomography (CT) scans and magnetic resonance imaging (MRI), where they enhance the imaging quality. The demand for diagnostic applications is witnessing rapid growth due to the increasing prevalence of chronic diseases requiring diagnostic tests, the advancements in medical imaging technologies, and the rising geriatric population. Additionally, the emergence of point-of-care testing and the growing need for accurate and rapid diagnostics are further driving the demand for medical gases in the diagnostics segment.

Global Medical Gas Equipment Market By Type, 2023 (%)

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Medical Gases and Equipment Market Regional Insights

North America dominated the global medical gases and equipment market. North America holds a significant market share due to the well-established healthcare infrastructure, high healthcare expenditure, and technological advancements in the region. The presence of a large number of hospitals, clinics, and research institutions, coupled with favorable reimbursement policies, contributes to the market's dominance in North America. Additionally, the rising prevalence of chronic diseases, increasing geriatric population, and the adoption of advanced medical technologies drive the demand for medical gases and equipment in the region.

On the other hand, the fastest-growing region in the market is Asia Pacific. Asia Pacific is experiencing rapid growth in the medical gases and equipment market due to several factors. The region has a large and growing population, leading to a higher patient pool and increasing healthcare needs. Furthermore, rising healthcare investments, improving healthcare infrastructure, and growing medical tourism in countries like China, India, and Japan contribute to the market's growth. The increasing prevalence of chronic diseases, the expansion of healthcare facilities, and the rising awareness about advanced healthcare treatments and technologies are driving the demand for medical gases and equipment in the Asia Pacific region

Global Medical Gas Equipment Market By Geography, 2024-2031
  • Largest
  • Fastest

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Medical Gases and Equipment Market Dynamics

Drivers

Increasing prevalence of chronic diseases

  • One key driver of the global medical gases and equipment market is the increasing prevalence of chronic diseases. The rising burden of chronic respiratory diseases, cardiovascular disorders, and other chronic illnesses creates a higher demand for medical gases and equipment. These medical gases are crucial for providing respiratory support, anaesthesia, and therapeutic treatments for patients suffering from chronic conditions. The growing prevalence of such diseases globally acts as a significant driver for the market.

Restraints

Stringent regulatory requirements and safety standards associated with medical gases and equipment

  • One key restraint of the market is the stringent regulatory requirements and safety standards associated with medical gases and equipment. Governments and regulatory authorities impose strict regulations to ensure the safety, quality, and efficacy of medical gases and equipment. These regulations can vary across different regions, leading to complex compliance procedures for manufacturers and suppliers. Adhering to these regulations and obtaining necessary certifications can be time-consuming and expensive. Non-compliance with regulatory standards can result in penalties, product recalls, and reputational damage. The regulatory challenges and compliance burdens act as a restraint on the market's growth.

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Medical Gases and Equipment Market Competitive Landscape

The competitive landscape of the global medical gases and equipment market is characterized by the presence of several established players as well as emerging companies. These market participants focus on strategic initiatives such as mergers and acquisitions, collaborations, partnerships, and product innovations to maintain their market position and gain a competitive edge. The market is highly competitive, with companies emphasizing technological advancements, product quality, and safety standards to meet the evolving needs of healthcare providers. Additionally, players strive to expand their geographical presence through market expansion strategies and target untapped regions with growing healthcare infrastructure. The competitive landscape is further influenced by factors such as pricing strategies, regulatory compliance, and customer satisfaction, as market players aim to establish long-term relationships with healthcare institutions and maintain brand loyalty.

Top Player’s Company Profiles

  • Air Liquide (France)
  • Atlas Copco (Sweden)
  • Amico Group of Companies (Canada)
  • The Linde Group (Germany)
  • Messer Group (Germany)
  • Praxair, Inc. (US)
  • Air Products and Chemicals, Inc. (US)
  • Matheson Tri-Gas, Inc. (US)
  • Taiyo Nippon Sanso Corporation (Japan)
  • SOL Group (Italy)
  • GCE Group (Sweden)
  • Air Water Inc. (Japan)
  • Medical Gas Solutions Ltd. (UK)
  • Airgas, Inc. (US)
  • Cryoport Systems, Inc. (US)
  • SIAD Group (Italy)
  • Air Products Healthcare (UK)
  • Gentec Corporation (Canada)
  • Randox Laboratories Ltd. (UK)
  • Praxair Healthcare Services (US)

Recent Developments

  • In April 2022, GE Healthcare's software, designed to automate anesthesia and reduce greenhouse gas emissions during surgical procedures, obtained approval from the FDA. This software has been authorized for utilization in conjunction with GE Healthcare's Aisys CS2 anesthesia delivery system.
  • In February 2022, Gasworld introduced a fresh event specifically tailored for the medical gases community. This initiative aimed to foster a more interconnected and inclusive healthcare sector, prioritizing equal access to healthcare for everyone
  • In June 2021, GCE Healthcare unveiled the Meditec high-pressure regulator. This newly developed regulator showcased a groundbreaking design that seamlessly integrated extensive manufacturing experience with expert medical insights, reflecting GCE Healthcare's commitment to innovation and excellence in the field.
  • In June 2021, Air Liquide S.A. entered into an agreement to acquire the largest oxygen-production plant in South Africa. This acquisition is part of a strategic partnership between Air Liquide and Sasol and aims to enhance Air Liquide's manufacturing capacity for medical gases and equipment, reinforcing its competitive stance in the market.

Medical Gases and Equipment Key Market Trends

  • One key market trend in the global medical gases and equipment market is the increasing adoption of portable and home healthcare solutions. There is a growing trend towards providing medical gases and equipment that can be used outside of traditional healthcare settings, such as in-home care or portable healthcare units. This trend is driven by factors such as the rising aging population, advancements in technology, and the desire for cost-effective and convenient healthcare options. Portable medical gas devices and equipment enable patients to receive necessary therapies and treatments in the comfort of their own homes, reducing the need for hospital visits and improving patient convenience. This trend is expected to continue growing as healthcare providers and manufacturers focus on developing innovative and user-friendly portable medical gas solutions.

Medical Gases and Equipment Market SkyQuest Analysis

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 by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global medical gases and equipment market analysis, the market is experiencing significant growth driven by factors such as the rising prevalence of chronic diseases, the increasing geriatric population, and advancements in medical technology. Medical gases, including oxygen, nitrogen, and nitrous oxide, play a crucial role in respiratory therapies, anaesthesia administration, and surgical procedures. The market is characterized by a wide range of equipment such as gas delivery systems, regulators, and monitoring devices. North America dominated the market, while the Asia Pacific region is witnessing rapid growth. Key drivers include the increasing prevalence of chronic diseases, while regulatory requirements pose a restraint. Additionally, trends such as the adoption of portable and home healthcare solutions are shaping the market, enabling patients to receive medical gases and treatments outside of traditional healthcare settings. Overall, the market is expected to continue expanding with a focus on technological advancements and meeting the evolving needs of healthcare providers and patients.

Report Metric Details
Market size value in 2023 USD 13.12 billion
Market size value in 2031 USD 25.15 billion
Growth Rate 7.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Medical gases and medical gases equipment
  • Application
    • Therapeutic, diagnostics and others
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)
Companies covered
  • Air Liquide (France)
  • Atlas Copco (Sweden)
  • Amico Group of Companies (Canada)
  • The Linde Group (Germany)
  • Messer Group (Germany)
  • Praxair, Inc. (US)
  • Air Products and Chemicals, Inc. (US)
  • Matheson Tri-Gas, Inc. (US)
  • Taiyo Nippon Sanso Corporation (Japan)
  • SOL Group (Italy)
  • GCE Group (Sweden)
  • Air Water Inc. (Japan)
  • Medical Gas Solutions Ltd. (UK)
  • Airgas, Inc. (US)
  • Cryoport Systems, Inc. (US)
  • SIAD Group (Italy)
  • Air Products Healthcare (UK)
  • Gentec Corporation (Canada)
  • Randox Laboratories Ltd. (UK)
  • Praxair Healthcare Services (US)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Medical Gases and Equipment Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Medical Gases and Equipment Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Medical Gases and Equipment 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 Medical Gases and Equipment 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.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Gases and Equipment Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Medical Gases and Equipment Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Medical Gases and Equipment Market size was valued at USD 13.12 billion in 2021 and is poised to grow from USD 14.1 billion in 2022 to USD 25.15 billion by 2030, growing at a CAGR of 7.5% during the forecast period (2023-2030).

The competitive landscape of the medical gases and equipment market is characterized by the presence of several established players as well as emerging companies. These market participants focus on strategic initiatives such as mergers and acquisitions, collaborations, partnerships, and product innovations to maintain their market position and gain a competitive edge. The market is highly competitive, with companies emphasizing technological advancements, product quality, and safety standards to meet the evolving needs of healthcare providers. Additionally, players strive to expand their geographical presence through market expansion strategies and target untapped regions with growing healthcare infrastructure. The competitive landscape is further influenced by factors such as pricing strategies, regulatory compliance, and customer satisfaction, as market players aim to establish long-term relationships with healthcare institutions and maintain brand loyalty. 'Air Liquide (France)', 'Atlas Copco (Sweden)', 'Amico Group of Companies (Canada)', 'The Linde Group (Germany)', 'Messer Group (Germany)', 'Praxair, Inc. (US)', 'Air Products and Chemicals, Inc. (US)', 'Matheson Tri-Gas, Inc. (US)', 'Taiyo Nippon Sanso Corporation (Japan)', 'SOL Group (Italy)', 'GCE Group (Sweden)', 'Air Water Inc. (Japan)', 'Medical Gas Solutions Ltd. (UK)', 'Airgas, Inc. (US)', 'Cryoport Systems, Inc. (US)', 'SIAD Group (Italy)', 'Air Products Healthcare (UK)', 'Gentec Corporation (Canada)', 'Randox Laboratories Ltd. (UK)', 'Praxair Healthcare Services (US)'

One key driver of the medical gases and equipment market is the increasing prevalence of chronic diseases. The rising burden of chronic respiratory diseases, cardiovascular disorders, and other chronic illnesses creates a higher demand for medical gases and equipment. These medical gases are crucial for providing respiratory support, anaesthesia, and therapeutic treatments for patients suffering from chronic conditions. The growing prevalence of such diseases globally acts as a significant driver for the market.

One key market trend in the medical gases and equipment market is the increasing adoption of portable and home healthcare solutions. There is a growing trend towards providing medical gases and equipment that can be used outside of traditional healthcare settings, such as in-home care or portable healthcare units. This trend is driven by factors such as the rising aging population, advancements in technology, and the desire for cost-effective and convenient healthcare options. Portable medical gas devices and equipment enable patients to receive necessary therapies and treatments in the comfort of their own homes, reducing the need for hospital visits and improving patient convenience. This trend is expected to continue growing as healthcare providers and manufacturers focus on developing innovative and user-friendly portable medical gas solutions.

North America dominated the medical gases and equipment market. North America holds a significant market share due to the well-established healthcare infrastructure, high healthcare expenditure, and technological advancements in the region. The presence of a large number of hospitals, clinics, and research institutions, coupled with favorable reimbursement policies, contributes to the market's dominance in North America. Additionally, the rising prevalence of chronic diseases, increasing geriatric population, and the adoption of advanced medical technologies drive the demand for medical gases and equipment in the region.

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Global Medical Gases and Equipment Market

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