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Global medical gas equipment market size to record 6.3% CAGR through 2028
Market Study Report
8 min read
Market Study Report
Market Study Report

The latest report on the ‘Global Medical Gas Equipment Market’ offers crucial information about the industry's size and growth indicators from 2022 to 2028.

Pune, India, Sept. 06, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global medical gas equipment market accounted for USD 3,742.9 million in 2021 and is anticipated to value nearly USD 5,751 million by the end of 2028, while progressing at a 6.3% CAGR over the study timeline.


The document also highlights the key driving forces, challenges, and opportunities in order to have a brief understanding of the nature of business in the ensuing years. It also mentions an in-depth analysis of the product categories, gross margin, business overview, and latest developments of the key industry players to assist stakeholders in making informed decisions.

The various drivers contributing to market growth are an increase in healthcare expenditure from private and public authorities, rising infrastructure activities, and growing manufacturing demand for medical gas globally.

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Infrastructure development creates a substantial need for efficient movement of medical gases around the facility because they are a crucial component of treatment and diagnosis in contemporary healthcare facilities. As a result, the medical gas equipment market size is projected to surge over 2022-2028.

The demand for medical gases is anticipated to rise on account of the rising geriatric population which is seen to be more sensitive to numerous respiratory illnesses that need quick medical attention.

Age-related diseases increase the risk factor which eventually boosts the market share for medical gas equipment. In addition, lifestyle practices like smoking and lack of exercise are some of the main reasons boosting the incidence rates of respiratory ailments.

In order to maintain a controlled and secure delivery of various medicinal gases throughout the institution, medical gas equipment is placed in healthcare settings. Helium, oxygen, carbon dioxide, nitrous oxide, and nitrogen are just a few examples of medical gases that are used in therapeutic and diagnostic operations.

According to Press Information Bureau Delhi report, the installation of 162 specialized PSA medical oxygen generation plants in public health facilities received USD 2,010 million in January 2021 through PM Care Fund Trust. Government support like these helped fuel demand, which in turn helped the medical gas equipment market flourish.

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