Medical Gas And Equipment Market Trends That Will Shape the Next Decade: Insights from Product Innovations Transforming The Medical Gas And Equipment Market

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How Large Will the Medical Gas And Equipment Market Size By 2025?
The market size for medical gas and equipment has seen robust growth in the past few years. It is projected to expand from $21.99 billion in 2024 to $23.66 billion in 2025, registering a compound annual growth rate (CAGR) of 7.6%. The substantial growth during the historical period can be linked to initiatives in personalized medicine, educational and awareness campaigns, responses to pandemics, advancements in healthcare, and international healthcare trends.

How Big Is the Medical Gas And Equipment Market Size Expected to Grow by 2029?
The size of the medical gas and equipment market is projected to experience significant expansion over the next several years, growing to a total of $34.46 billion by 2029 at a compound annual growth rate (CAGR) of 9.9%. This projected growth for the forecast period can be attributed to a variety of factors, such as the rise in healthcare spending, an increase in the prevalence of chronic diseases, the effects of the COVID-19 pandemic, a movement towards home-based healthcare, and heightened demand within emerging markets. Notable trends expected during the forecast period encompass cost-effectiveness and accessibility, heightened awareness and education, the advent of personalized medicine, the application of telemedicine and remote monitoring, alongside an emphasis on green technology.

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Which Key Market Drivers Powering Medical Gas And Equipment Market Expansion and Growth?
A rise in respiratory diseases is anticipated to fuel the growth of the market for medical gas and equipment. Respiratory diseases, which impact the lungs and respiratory system, are treated using medical gases and equipment. Consequently, an increase in these diseases contributes to market growth. For example, the World Health Organization's (WHO) 2023 Global Tuberculosis Report revealed that the international incidence of tuberculosis (TB) increased to 10.6 million cases in 2022 - an incidence rate of 136 cases per 100,000 people - a rise that began in 2021. This trend underscores the growing prevalence of respiratory diseases and, as a result, the higher demand for medical gases and equipment necessary for their treatment and management.

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What Are the Key Trends Driving Medical Gas And Equipment Market Growth?
One significant emerging trend in the medical gas and equipment market is the emphasis on product innovation. Firms in this market sector are concentrating on creating novel technological solutions to solidify their foothold. To cite an example, Polarean Imaging, an American firm that combines medical drugs and devices, got FDA approval for their product named Xenoview in March 2023. Xenoview is unparalleled as it is the first inhaled MRI hyperpolarized contrast agent produced from xenon-129 gas. It facilitates better MRI reviews of lung ventilation for patients who are 12 years or older, offering a unique view of lung function without the hazards associated with ionizing radiation. This breakthrough signifies a substantial progression in the field of pulmonary medicine.

What Are the Emerging Segments in the Medical Gas And Equipment Market?
The medical gas and equipment market covered in this report is segmented -

1) By Type: Medical Gases, Medical Gas Mixtures, Biological Atmospheres, Medical Gas Equipment
2) By Application: Respiratory, Anesthesia, Medical Imaging, Cryosurgery, Therapeutic, Diagnostic
3) By End-User: Hospitals, Research Institutions, Home Healthcare, Pharmaceutical Industry And Academic, Biotechnology Industry, Emergency Service

Subsegments:
1) By Medical Gases: Oxygen, Nitrous Oxide, Carbon Dioxide, Helium, Nitrogen, Argon, Medical Air
2) By Medical Gas Mixtures: Oxygen-Nitrous Oxide Mixtures, Oxygen-Carbon Dioxide Mixtures, Other Specialty Gas Mixtures
3) By Biological Atmospheres: Anaerobic Atmospheres, Controlled Atmospheres, Refrigerated Atmospheres
4) By Medical Gas Equipment: Regulators, Flow Meters, Manifolds, Gas Cylinders, Pipeline Systems, Safety Systems, Gas Delivery Systems

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Who Are the Global Leaders in the Medical Gas And Equipment Market?
Major companies operating in the medical gas and equipment market are Linde PLC, Praxair Inc., Air Liquide S.A., Atlas Copco AB, Messer Group GmbH, Taiyo Nippon Sanso Corporation, Gas Control Equipment Ltd., Rotarex S.A., SOL S.p.A., Amico Corporation, Air Products and Chemicals Inc., BeaconMedaes LLC, Flogas Britain Limited, Matheson Tri-Gas Inc., SCI Analytical Laboratories Inc., GCE Holding AB, Medical Gas Solutions Ltd., Ohio Medical Corporation, ere*x Corp., Gentec Corporation, Cramer Decker Medical Inc., PCI Gases, Precision Medical Inc., Bay Corporation, Amada Marvel Inc., BPR Medical, Calea, Cryofab Inc., EKOM spol. s r.o., Far East Gas Co. Ltd., Gascon Systems Pty Ltd.

Which are the Top Profitable Regional Markets for the Medical Gas And Equipment Industry?
North America was the largest region in the medical gas and equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical gas and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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