Medical Gas Equipment Market Analysis

Medical Gas Equipment Market Analysis

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The manifolds segment held significant share of the medical gas equipment industry in 2022 and is estimated to record USD 1.4 billion by 2032 owing to the high application scope in different healthcare settings, including hospitals and ambulatory surgical centres for continuous supply of medical gases, like oxygen, carbon dioxide, nitrogen, and nitrous oxide. Driven by their highly stable outlet pressure and ease of maintenance, manifold systems are recording tremendous demand in different applications.
 

Rising innovations led by prominent players to meet the increasing healthcare requirements will also add to the market growth.  For instance, in July 2023, Atlas Copco’s BeaconMedaes LLC unveiled MAT-S, its gen-next automatic manifold changeover system incorporated with innovative features to deliver premium performance and reliability as well as lower operational and maintenance costs.
 

Medical gas equipment market size from the hospital segment may exceed USD 2 billion by 2032. The growth can be ascribed to the higher adoption of cutting-edge medical equipment in these settings to deliver medical air to patients in need of oxygen therapy in response to the expanding patient pool suffering from respiratory diseases. For instance, in January 2023, BeaconMedaes launched Anaesthetic Gas Scavenging System (AGSS) to extract and eliminate waste anaesthetic gas mixtures from operating theatres in private hospitals. The enforcement of standards and guidelines by regulatory bodies, such as the National Fire Protection Association (NFPA) and the U.S. FDA for handling, storing, and administrating of medical gases in hospitals will assist in the segment landscape.
 

North America medical gas equipment market size is expected to expand at 6.7% CAGR from 2023-2032 driven by the rising burden of respiratory conditions, mainly in the U.S. As per the Centers for Disease Control and Prevention, nearly 8.7% of adults aged 18 years and above had asthma in 2022.  The emerging trend of home healthcare, powered by the rapidly aging population and higher preference for comfortable and cost-effective care options has surged the higher demand for portable and home-based medical gas equipment. The influx of various government policies for implementing effective healthcare systems will also prove favorable for the regional industry expansion.