The global medical gas equipment market was valued at USD 2.34 billion in 2022 and is projected to reach USD 4.29 billion by 2030, expanding at a CAGR of 7.80% from 2023 to 2030. Market growth is fueled by rising surgical procedures, increasing hospital admissions, and an expanding geriatric population. These trends have driven the demand for reliable systems that can safely and accurately deliver medical gases to patients.
Advancements such as digital flow meters, remote monitoring solutions, and wireless connectivity are enhancing the efficiency, safety, and performance of these devices. Additionally, increasing healthcare expenditure, growing adoption of home healthcare, and greater emphasis on point-of-care diagnostics are further propelling market expansion. Rising pollution levels and tobacco use have also contributed to higher demand for respiratory support systems.
The COVID-19 pandemic significantly accelerated the need for medical gases—particularly oxygen—which led to a surge in demand for respiratory care equipment. This created substantial growth opportunities for manufacturers, especially those focused on oxygen therapy solutions. In response, numerous companies introduced innovative products to meet the heightened global demand.
Key Market Trends & Insights
- North America held the largest market share in 2022, accounting for over 38.2%.
- By product type, vacuum systems dominated the market with a 31.50% share in 2022.
- By end use, hospitals led the segment with 28.61% revenue share in 2022.
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Market Size & Forecast
- 2022 Market Size: USD 2.34 Billion
- 2030 Projected Market Size: USD 4.29 Billion
- CAGR (2023–2030): 7.80%
- Largest Regional Market (2022): North America
Competitive Landscape
The medical gas equipment market is highly fragmented due to the presence of numerous manufacturers offering components such as regulators, manifolds, and vacuum pumps. Companies are focusing on strategic initiatives—including new product launches, partnerships, and acquisitions—to strengthen their market position. For example, in June 2021, GCE Healthcare introduced a redesigned high-pressure gas regulator aimed at enhancing safety for medical professionals.
Prominent Companies
- Air Liquide S.A.
- Atlas Copco Group
- Linde plc
- Airgas Inc.
- Allied Healthcare Products Inc.
- Powerex
- Amico Corp
- Gentec Corp.
- Taiyo Nippon Sanso Corporation
- Colfax Corporation (GCE Group AB)
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Conclusion
The medical gas equipment market is entering a period of sustained growth driven by rising clinical demand, technological innovations, and expanding healthcare infrastructure. Increased surgical volumes, a growing elderly population, and heightened awareness of respiratory health continue to push the need for reliable and advanced gas delivery systems. The pandemic further highlighted the critical importance of medical gas equipment, accelerating adoption and prompting manufacturers to innovate rapidly.
With strong regional performance—particularly in North America—and ongoing product advancements, the market is well-positioned for continued expansion through 2030. As healthcare systems evolve and home-based care becomes more prevalent, the demand for safe, efficient, and technologically enhanced medical gas solutions will remain robust, offering significant opportunities for industry participants.
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