According to the report titled ‘Medical Gases Market Size By Gas Type (Pure Gases {Oxygen, Carbon Dioxide, Helium}, Gas Mixtures {Medical Air, Nitrous Oxide}), By End-use (Hospitals, Ambulatory Surgical Units, Specialized Clinics), COVID19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027,’ available with MarketStudyReport, global medical gases market is expected to showcase impressive growth trends during the period 2021-2027.
 

Increasing cases of infectious ailments resulting in bolstered demand for medical products, in consort with rising focus of governments in ensuring adequate supply of medical gases to healthcare institutes and patients are propelling the growth of global medical gases market.

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During the COVID-19 pandemic, medical infrastructure across the world was prioritized by authorities to facilitate the optimization of resources. Special emphasis was placed on the local production and distribution of oxygen gas to facilitate treatment & recovery of COVID patients, which further accelerated the industry development.

Moreover, an increasing proportion of the geriatric population, coupled with elevated surgical procedures are fueling the progress of the market.

Despite the positive outlook, huge cost of medical gases, stringent regulatory standards, and dearth of availability of helium leading customers to switch to alternatives are likely to hamper the industry augmentation in the forthcoming years.

Based on gas type, the gas mixtures segment of worldwide medical gases industry was valued at USD 6.2 billion in the year 2020 and is estimated to witness considerable growth through 2027.

In terms of end-use, the specialized clinics vertical is anticipated to grow at 5.7% CAGR during the review period, owing to the surging demand for medical gases for patients being treated in intensive care units and on life support systems.

From a regional point of view, Latin America market is reckoned to grow at 6.2% CAGR during 2021-2027, owing to soaring demand for medical gases for the patients affected by the coronavirus, particularly during the second wave of the ongoing pandemic where the latest variants spread exponentially. 

The competitive landscape of global medical gases market is defined by companies such as Taiyo Nippon Sanso Corporation, Linde plc, Air Liquide S.A., Chehab Industrial & Medical Gases S.A.L., Messer Group GmbH, Proton Gases India Private Limited, IJsfabriek Strombeek N.V., Gulf Cryo, and Air Products & Chemicals, Inc. among others.