Medical Gas and Equipment Market

The report "Medical Gas and Equipment Market by Type [Medical Gas (Oxygen, Nitrous Oxide), Medical Gas Equipment (Flowmeter, Others)], Application [Therapeutics, Diagnostics], End User [Hospital, Home Healthcare]—Global Forecast to 2031” is projected to grow from USD 21.03 billion in 2025 and to reach USD 30.05 billion by 2031, at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period.

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The medical gas and equipment sector has been growing steadily as the need for respiratory and crisis care services has risen across global healthcare systems. Rising rates of chronic diseases, including COPD, asthma, cardiovascular diseases, and other major illnesses, have led to a significant increase in demand for therapeutic gases such as oxygen and nitrous oxide, as well as reliable delivery and monitoring devices. This trend is further supported by a rapidly aging population that requires continuous, long-term medical care. Meanwhile, the expansion and modernization of healthcare facilities, especially in developing countries, along with higher government spending on hospitals, surgical centers, and homecare services, have led to the installation and upgrading of medical gas systems. Furthermore, continuous technological advancements, including smart gas delivery systems, automated monitoring solutions, and portable devices, contribute to improved treatment efficiency and accessibility, particularly in home healthcare settings. Overall, these factors are collectively driving the recovery of the medical gas and equipment market persistently.

Medical gases accounted for the largest share by type in the medical gas and equipment market in 2024.

Medical gases account for the largest share by type in the medical gas and equipment market and play a pivotal role in both routine and emergency medical care. Most healthcare services, including respiratory therapy, anesthesia, intensive care, emergency treatment, and various diagnostic and therapeutic procedures, rely on these gases, which are available in hospitals, clinics, and, to some extent, in home care. Equipment, unlike medical gases, is purchased at longer intervals, whereas medical gases are consumables that must be supplied regularly, resulting in higher demand. Consumption of medical gases is expected to be driven by the increasing prevalence of chronic respiratory and cardiovascular diseases, more surgeries, and rising ICU admissions. Furthermore, the provision of home health care and long-term oxygen therapy, along with strict regulatory requirements ensuring the continuous availability of gas in health care facilities, continue to strengthen the market share of medical gases in the medical gas and equipment market.

The hospitals & clinics segment accounted for the largest share in the medical gas and equipment end user market in 2024.

Among the different end user segments of the medical gas and equipment market, the hospital and clinic segment holds the largest share, primarily due to high patient volumes and the variety of services that require a continuous gas supply. A great number of hospital departments, including emergency, surgery, intensive care, and those treating chronic and acute conditions, rely most on medical gases such as oxygen, nitrous oxide, and medical air. In addition, to carry out hospital functions efficiently, medical gas infrastructure, such as pipeline systems, storage units, and monitoring devices, should be widely available in hospitals and clinics to support operating theaters, intensive care units, neonatal units, and recovery wards. Rising hospital admission rates, a higher number of surgeries, and the development of chronic diseases have escalated demand for medical gases from this segment. Also, due to strict regulatory and safety standards, hospitals and clinics must ensure that their medical gas infrastructure is reliable and uninterrupted, which further makes them a dominant player in the medical gas and equipment market.

Key Market Players

The key players in the medical gas and equipment market include Air Liquide (France), Linde PLC (Germany), Air Products and Chemicals, Inc. (US), Messer SE & Co. KGaA (Germany), Taiyo Nippon Sanso Corporation (Japan), and others.

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