May 21, 2024

Medical Gas Market Size to Attain USD 32.47 Billion by 2033

The global medical gas market size was calculated at USD 14.82 billion in 2023 and is expected to attain 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 the production, distribution, and use of gases specifically designed for medical applications. These gases play a crucial role in various healthcare settings, including hospitals, clinics, and home healthcare environments. Medical gases are used for respiratory therapy, anesthesia, and various medical procedures where precise gas mixtures are required to support patient care and treatment.

Get a Sample

Growth Factors

Several factors contribute to the growth of the medical gas market. One key factor is the rising prevalence of respiratory diseases and disorders globally, driving the demand for respiratory therapies and oxygenation. Additionally, technological advancements in gas delivery systems and the development of new medical gas formulations enhance treatment effectiveness and patient safety, further stimulating market growth. Moreover, the increasing geriatric population, which is more susceptible to chronic illnesses, fuels the demand for medical gases in healthcare facilities.

Region Insights:

The medical gas market exhibits regional variations influenced by healthcare infrastructure, regulatory frameworks, and economic conditions. Developed regions such as North America and Europe have well-established healthcare systems and stringent regulations governing medical gas production and distribution. In contrast, emerging economies in Asia-Pacific and Latin America are witnessing rapid market growth due to improving healthcare access, increasing investments in healthcare infrastructure, and rising awareness about the benefits of medical gases.

Medical Gas Market Scope

Report CoverageDetails
Growth Rate from 2024 to 2033CAGR of 8.16%
Medical Gas Market Size in 2023USD 14.82 Billion
Medical Gas Market Size in 2024USD 16.03 Billion
Medical Gas Market Size by 2033USD 32.47 Billion
Largest MarketNorth America
Base Year2023
Forecast Period2024 to 2033
Segments CoveredBy Product, By Application, and By End-use
Regions CoveredNorth America, Europe, Asia-Pacific, Latin America, and Middle East & Africa


Medical Gas Market Dynamics


Several drivers propel the medical gas market forward. The growing incidence of chronic respiratory diseases such as asthma, COPD (Chronic Obstructive Pulmonary Disease), and sleep apnea necessitates continuous access to medical gases for therapy and management. Additionally, advancements in surgical techniques and anesthesia practices require precise gas mixtures, driving demand for medical gases in operating rooms and critical care units. Furthermore, the expansion of home healthcare services and the increasing adoption of portable oxygen devices contribute significantly to market growth.


The medical gas market presents diverse opportunities for innovation and expansion. There is a rising trend towards developing environmentally sustainable and energy-efficient gas production methods, aligning with global efforts towards sustainability. Furthermore, the integration of digital technologies into medical gas delivery systems opens avenues for remote monitoring, predictive maintenance, and enhanced patient outcomes. Additionally, expanding market penetration in emerging economies offers untapped opportunities for gas manufacturers and distributors.


Despite the growth prospects, the medical gas market faces several challenges. Regulatory compliance and adherence to stringent quality standards are paramount due to the critical nature of medical gases in patient care. Ensuring safe storage, handling, and transportation of medical gases also pose logistical challenges. Moreover, pricing pressures and reimbursement complexities in healthcare systems can impact market dynamics, particularly for smaller players. Additionally, ensuring adequate supply chain management and addressing concerns related to gas purity and consistency remain key challenges for industry stakeholders.

Read Also: Industrial Vehicle Market Size to Attain 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

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333