Medical Gases Market - Growing Demand, In-depth Analysis, Industry Growth and Forecast Report 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "Medical Gases Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global medical gases market growth, trends, size, share and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big Is the Medical Gases Market?

The global medical gases market size reached US$ 13.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.

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What is Medical Gases?

Medical gases are used in healthcare settings for various applications, including patient care, medical procedures, and research. They encompass oxygen (O2), nitrous oxide (N2O), and nitrogen (N2) for cryopreservation and medical equipment. They are manufactured through stringent purification processes to ensure they meet medical-grade standards through methods like fractional distillation and chemical synthesis. They are essential in respiratory care, anesthesia, critical care units, and emergency services, facilitating functions ranging from patient ventilation to blood oxygenation. They offer multiple advantages, including helping to sterilize medical equipment, improving surgical outcomes by creating controlled settings, and giving patients life-sustaining assistance. They provide adaptability and efficiency in a variety of therapeutic settings.

Global Industry Trends and Drivers:

At present, the rising geriatric population, which is more susceptible to respiratory diseases and other age-related health issues, represents one of the crucial factors impelling the market growth. Moreover, the growing prevalence of respiratory diseases like asthma and chronic obstructive pulmonary disease (COPD) is driving the demand for medical oxygen and related gases for treatment. Furthermore, advancements in technology, enabling more sophisticated applications of gases in therapeutics and diagnostics, are strengthening the market growth. Additionally, the growing integration of digital technologies, such as the internet of things (IoT) in medical gas systems, is improving the tracking and monitoring of gas usage, leading to better inventory management and cost savings for healthcare providers. Furthermore, rising advancements in personalized medicine, which rely on customized therapeutic strategies, including the use of specific medical gas mixtures tailored to individual patient needs, are propelling the market growth. Apart from this, the increasing trend of miniaturization of equipment to provide greater mobility and ease of use in emergency response scenarios is supporting the market growth. The rising utilization of medical gases in surgical procedures for patient anesthesia and operative room functionalities is also bolstering the market growth. In line with this, the growing strategic collaborations are enabling companies to leverage collective expertise, expand their geographical footprint, and enhance their market share. Additionally, the increasing employment of hyperbaric oxygen therapy for wound healing and other medical purposes is catalyzing the demand for medical-grade oxygen. Apart from this, the growing implementation of stringent regulations to ensure safety and quality is encouraging innovation as manufacturers are prompted to comply with evolving standards. This is also leading to investment in research and development (R&D) to produce compliant and advanced products. Moreover, the rising adoption of medical gases in non-traditional areas, such as cryotherapy and sports medicine, where O2 therapy is utilized to enhance performance recovery, is offering a favorable market outlook. Furthermore, the growing number of educational and training programs for healthcare professionals on the safe and effective use of medical gases is positively influencing the market.

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What Is Included In Market Segmentation?

The report has been segmented the market into following categories:

Breakup by Gas Type:
• Pure Gases
o Medical Air
o Medical Oxygen
o Nitrous Oxide
o Nitrogen
o Carbon Dioxide
o Helium
• Gas Mixtures
o Aerobic Gas Mixtures
o Anaerobic Gas Mixtures
o Blood Gas Mixtures
o Lung Diffusion Mixtures
o Medical Laser Mixtures
o Medical Drug Gas Mixtures
o Others

Breakup by Application:
• Therapeutic
• Diagnostic
• Biotechnology and Pharmaceutical Industry
• Others

Breakup by End User:
• Hospitals
• Home Healthcare
• Academic and Research Institutions

Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

Air Products and Chemicals Inc., Airgas Inc. (Air Liquide S.A.), Ellenbarrie Industrial Gases Ltd, Linde plc, Matheson Tri-Gas Inc. (Mitsubishi Chemical Holdings Corporation), Messer Group GmbH, SCI Analytical Laboratories Inc, Sharjah Oxygen Company and SOL Spa.

Key highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

TOC for the Report:
• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

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This release was published on openPR.