May 20, 2024

Medical Gas Market Size to Reach USD 32.47 Billion by 2033

The global medical gas market size was estimated at USD 14.82 billion in 2023 and is projected to reach around USD 32.47 billion by 2033, growing at a CAGR of 8.16% from 2024 to 2033.

Key Points

  • The North America medical gas market size accounted for USD 5.34 billion in 2023 and is expected to attain around USD 11.69 billion by 2033.
  • North America dominated the market with the largest market share of 36% in 2023.
  • By product, the pure gases segment has held the major market share of 56% in 2023.
  • By product, the gas mixtures segment is expected to expand at the fastest CAGR of 8.32% throughout the forecast period.
  • By application, the therapeutic segment has contributed more than 41% of market share in 2023.
  • By end-use, the hospitals segment accounted for the major market share of 30% in 2023.

Medical Gas Market Size 2024 to 2033

The medical gas market encompasses a wide range of gases used in healthcare settings for various therapeutic, diagnostic, and surgical purposes. These gases play crucial roles in patient care, from providing respiratory support to assisting in anesthesia and sterilization processes. Medical gases are manufactured and distributed under strict regulations to ensure safety and efficacy in healthcare applications.

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Growth Factors

Several key factors are driving the growth of the medical gas market. One significant factor is the increasing prevalence of chronic respiratory diseases such as asthma, COPD (Chronic Obstructive Pulmonary Disease), and sleep apnea, which require oxygen therapy and other respiratory interventions. Additionally, advancements in medical gas delivery systems and technologies are improving the efficiency and safety of administering these gases, driving market growth.

Region Insights

The demand for medical gases varies by region due to differences in healthcare infrastructure, regulatory frameworks, and disease prevalence. Developed regions like North America and Europe have well-established healthcare systems with high adoption rates of medical gases for various medical procedures. Emerging economies in Asia-Pacific and Latin America are witnessing growing demand for medical gases due to expanding healthcare facilities and increasing awareness about the benefits of medical gas therapies.

Medical Gas Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 8.16%
Medical Gas Market Size in 2023 USD 14.82 Billion
Medical Gas Market Size in 2024 USD 16.03 Billion
Medical Gas Market Size by 2033 USD 32.47 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Product, By Application, and By End-use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa


Medical Gas Market Dynamics


Several drivers are propelling the growth of the medical gas market. One key driver is the rising geriatric population globally, leading to higher incidences of chronic diseases and age-related conditions that require medical gas therapies. Furthermore, increasing investments in healthcare infrastructure and the expansion of healthcare facilities in developing regions are boosting the adoption of medical gases.


The medical gas market presents numerous opportunities for innovation and market expansion. Opportunities lie in developing advanced gas delivery systems, such as portable oxygen concentrators and intelligent gas monitoring devices, to enhance patient comfort and safety. Moreover, the growing trend towards home healthcare and telemedicine opens up new avenues for providing medical gases outside traditional healthcare settings.


Despite the growth prospects, the medical gas market faces certain challenges. Regulatory complexities surrounding the production, storage, and distribution of medical gases require manufacturers to adhere to stringent quality standards and compliance measures. Additionally, the high cost associated with establishing gas production facilities and maintaining supply chains can pose challenges for market players, especially in emerging economies.

Read Also: Industrial Vehicle Market Size to Reach USD 65.60 Bn by 2033

Medical Gas Market Recent Developments

  • In May 2023, to increase low- and middle-income countries (LMICs) access to life-saving medical oxygen, Unitaid, and other organizations formed a new worldwide health coalition. The Global Oxygen Alliance (GO2AL) seeks to assist nations in maintaining their investments in oxygen systems established during the COVID-19 crisis by providing technical assistance, financial support, capacity building, and demand generation.

Medical Gas Market Companies

  • Linde plc.
  • Air Liquide
  • Atlas Copco
  • Matheson Tri-Gas Inc.
  • Messer
  • Air Products and Chemicals Inc.
  • INOX-Air Products Inc.

Segments Covered in the Report

By Product

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

By Application

  • Therapeutic
  • Diagnostics
  • Pharmaceutical Manufacturing
  • Others

By End-use

  • Hospitals
  • Ambulatory Surgical Centers
  • Home Healthcare
  • Pharmaceutical and Biotechnology Companies
  • Diagnostic and Research Laboratories
  • Academic and Research Institutions

By Geography

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

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