REPORT ATTRIBUTE |
DETAILS |
Historical Period |
2019-2022 |
Base Year |
2023 |
Forecast Period |
2024-2032 |
India Medical Gas and Equipment Market Size 2023 |
USD 98.69 Million |
India Medical Gas and Equipment Market, CAGR |
9.58% |
India Medical Gas and Equipment Market Size 2032 |
USD 205.20 Million |
Market Overview
The India Medical Gas and Equipment Market is projected to grow from USD 98.69 million in 2023 to USD 205.20 million by 2032, exhibiting a compound annual growth rate (CAGR) of 9.58%.
The India Medical Gas and Equipment market is driven by the increasing demand for healthcare services, particularly in hospitals and healthcare facilities, as the country experiences significant advancements in medical technology and infrastructure. Rising incidences of chronic diseases, an aging population, and the growing need for advanced medical treatments further fuel market growth. Additionally, government initiatives to improve healthcare accessibility and investments in medical infrastructure contribute to market expansion. The market is also witnessing trends such as the growing adoption of home healthcare solutions, the rise in the use of medical gases for surgeries and intensive care units (ICUs), and innovations in medical gas delivery systems. Moreover, the increasing prevalence of respiratory disorders and the expansion of medical gas applications in industries like pharmaceuticals and biotechnology are expected to further enhance the market’s development. As the healthcare sector in India evolves, these factors are expected to drive sustained growth in the medical gas and equipment industry.
The India Medical Gas and Equipment market exhibits strong growth across various regions, with significant demand emerging from Northern, Western, Southern, and Eastern India due to advancements in healthcare infrastructure, rising healthcare needs, and increasing awareness. Key players in the market include leading international and domestic companies such as Taiyo Nippon Sanso Corporation, Air Liquide, Linde Plc, INOX Air Products Pvt. Ltd., and India National Air Separation Engineering Co., Ltd. These companies play a pivotal role in the supply of medical gases and equipment across the country, catering to healthcare institutions, pharmaceutical manufacturing, and research applications. Regional players like NovaAir Pvt. Ltd. and Cryogenmash JSC also contribute to the market’s development. The presence of a well-established network of medical gas providers, combined with expanding healthcare services, positions India as a rapidly growing market for medical gases and equipment, with continued investments and innovations expected to further enhance its growth.
Access crucial information at unmatched prices!
Request your free sample report today & start making informed decisions powered by Credence Research!
Download Free Sample
Market Insights
- The India Medical Gas and Equipment market was valued at USD 98.69 million in 2023 and is projected to reach USD 205.20 million by 2032, growing at a CAGR of 9.58%.
- Increasing demand for medical gases due to the rising healthcare needs and chronic disease prevalence is driving market growth.
- Advancements in medical technology and gas delivery systems are fueling innovations in the sector, enhancing market growth opportunities.
- Competitive landscape is marked by key players such as Air Liquide, Linde Plc, INOX Air Products Pvt. Ltd., and NovaAir Pvt. Ltd.
- Market restraints include regulatory challenges, complex compliance requirements, and regional variations in healthcare infrastructure.
- Northern and Western India dominate the market, with Northern India holding approximately 35% of the share.
- Growing healthcare infrastructure and government initiatives in Southern and Eastern India are expected to drive future market expansion in these regions.
Market Drivers
Growing Healthcare Demand
The expanding healthcare sector in India is a major driver of the medical gas and equipment market. For instance, India’s healthcare expenditure has been on the rise, with public health expenditure increasing from 1.2-1.4% to 1.6-2.2% of GDP post-COVID. As the population grows and the middle class increases, there is a higher demand for quality healthcare services. The rise in medical treatments and the expansion of both public and private healthcare facilities lead to increased consumption of medical gases and equipment. Hospitals, nursing homes, and healthcare centers require these products for various medical procedures, fueling market demand.
Government Initiatives and Healthcare Investments
Government initiatives aimed at improving healthcare infrastructure are also boosting the medical gas and equipment market. For instance, the Ayushman Bharat scheme aims to provide affordable healthcare to over 500 million people in India. Programs like this are increasing the demand for essential medical supplies, including medical gases and related equipment. Additionally, investments in the healthcare sector, including the construction of new hospitals and upgrading existing ones, further enhance the demand for these products.
Rising Prevalence of Chronic Diseases
The increasing prevalence of chronic diseases such as cardiovascular disorders, respiratory illnesses, and diabetes is a significant market driver. These conditions often require continuous monitoring and treatment, including the use of medical gases like oxygen and nitrous oxide for respiratory support. With the rise in such health issues, there is a growing need for specialized medical equipment, including ventilators and oxygen concentrators, which further propels the demand for medical gases and equipment.
Advancements in Medical Technology
Advancements in medical technology have led to the development of more efficient and safer medical gas delivery systems. These innovations, such as automated gas management systems, are transforming healthcare settings and improving patient care. The growing adoption of home healthcare solutions, particularly for elderly and chronic patients, is another factor driving the demand for portable medical gas equipment. As technology continues to evolve, the market for medical gases and equipment is expected to expand further, catering to modern healthcare needs.
Market Trends
Technological Innovations in Gas Delivery Systems
Technological advancements in gas delivery systems are transforming the medical gas and equipment market. For instance, automated and intelligent gas management systems that monitor and control gas levels in hospitals and healthcare facilities are becoming increasingly popular. New systems are being developed to improve safety, efficiency, and convenience in the delivery of medical gases. These innovations enhance patient care by ensuring that the correct gases are delivered at the right time and in the right quantities, reducing risks and improving overall efficiency.
Adoption of Home Healthcare Solutions
A notable trend in the India medical gas and equipment market is the growing adoption of home healthcare solutions. With increasing awareness about healthcare needs and advancements in medical technologies, many patients are opting for home-based treatments for chronic conditions like respiratory disorders. The demand for portable oxygen concentrators, home ventilators, and medical gas cylinders for home use is rising. This shift toward home healthcare is driving market growth, especially for products that enable at-home treatment and monitoring, making medical care more accessible and cost-effective.
Expansion of Medical Gas Applications
The scope of medical gas usage is expanding beyond traditional hospital settings. Medical gases are increasingly being used in various industries, such as pharmaceuticals, biotechnology, and manufacturing. In these sectors, gases like nitrogen and carbon dioxide are crucial for specific processes, including the preservation of biological samples and the production of pharmaceuticals. This diversification in the application of medical gases is contributing to the growing demand for medical gas and equipment, broadening the market’s potential.
Focus on Sustainability and Green Technologies
Sustainability is becoming a prominent trend in the medical gas and equipment sector. As environmental concerns rise, there is a shift toward the adoption of greener technologies in the production and use of medical gases. Manufacturers are focusing on reducing the carbon footprint associated with medical gas production, with some companies exploring eco-friendly alternatives to traditional gas storage methods. This growing emphasis on sustainability aligns with global trends and is expected to shape the future of the India medical gas and equipment market.
Market Challenges Analysis
Regulatory Challenges and Compliance
One of the primary challenges facing the India medical gas and equipment market is navigating complex regulatory requirements. For instance, the medical gas sector is subject to stringent guidelines concerning manufacturing, storage, transportation, and usage set by organizations such as the Drug Controller General of India (DCGI) and the Bureau of Indian Standards (BIS). Ensuring compliance with regulations set by organizations such as the Drug Controller General of India (DCGI) and the Bureau of Indian Standards (BIS) can be a significant hurdle for both new and established companies. Failure to meet these standards can lead to delays in product approvals and distribution, which ultimately impacts market growth. Additionally, regulatory discrepancies between different states can further complicate the business environment for manufacturers and distributors, leading to inefficiencies and increased operational costs.
Supply Chain and Infrastructure Constraints
Another significant challenge is the underdeveloped supply chain and infrastructure that affects the availability and distribution of medical gases and equipment across the country. While demand for these products is growing, the lack of adequate storage facilities, distribution networks, and logistical support in rural and remote areas hinders widespread access to essential medical gases. This is especially critical in emergencies, where timely delivery of oxygen and other medical gases is crucial for patient survival. Moreover, fluctuations in the supply of raw materials, such as liquid oxygen, and disruptions in transportation can lead to supply shortages, further exacerbating the challenges faced by healthcare providers. The lack of a robust infrastructure for safe storage and delivery of gases adds complexity to the market, impacting both cost-efficiency and patient care.
Market Opportunities
Expansion of Healthcare Infrastructure
One of the significant opportunities in the India medical gas and equipment market lies in the continued expansion of healthcare infrastructure. The Indian government’s focus on improving healthcare accessibility through initiatives like the Ayushman Bharat Yojana is creating an increased demand for medical gases and associated equipment. With a growing number of hospitals, clinics, and healthcare facilities being built, the need for reliable and efficient medical gas systems is rising. Additionally, the trend of private sector investment in healthcare is further accelerating the development of new healthcare facilities across urban and rural areas. As the healthcare landscape evolves, there is a considerable opportunity for companies to supply and install medical gas systems in these newly established facilities, ensuring seamless medical treatment delivery.
Rising Demand for Home Healthcare Solutions
Another key opportunity is the rising demand for home healthcare solutions. With an increasing number of patients opting for home-based care, especially for chronic respiratory conditions, the need for portable medical gas equipment such as oxygen concentrators and home ventilators is expanding. India’s aging population and growing awareness of the benefits of home healthcare present a large market for medical gas suppliers. Companies can capitalize on this trend by offering products tailored to home healthcare needs, ensuring patients receive continuous, safe, and effective treatment at home. Additionally, innovations in medical gas delivery systems designed for home use, such as lightweight and portable devices, present opportunities to cater to this niche segment, ultimately fostering market growth and improving patient outcomes.
Market Segmentation Analysis:
By Medical Gases:
The India medical gas and equipment market is segmented primarily by medical gases, including oxygen, nitrous oxide, carbon dioxide, nitrogen, and others. Oxygen holds the largest market share, driven by its critical role in respiratory care, particularly for patients with chronic respiratory conditions, during surgeries, and in intensive care units (ICUs). Nitrous oxide, widely used for anesthesia and pain relief during medical procedures, is another essential segment. Carbon dioxide is gaining traction in diagnostic procedures and medical research, while nitrogen is primarily used for cryopreservation and as an inert gas in laboratory settings. The “Others” segment encompasses specialty gases used in specific applications, including medical refrigeration and sterilization. As medical practices evolve and technology advances, the demand for these gases is expected to grow, with each gas catering to specific medical needs across various healthcare settings, from hospitals to research laboratories.
By Application:
The market is also segmented based on application, with key categories including therapeutic, diagnostic, pharmaceutical manufacturing, research, and others. The therapeutic segment dominates, fueled by the widespread use of medical gases like oxygen and nitrous oxide for patient care. Medical gases are extensively used in diagnostic imaging procedures and laboratory tests, driving the demand in the diagnostic application segment. The pharmaceutical manufacturing segment uses gases like carbon dioxide and nitrogen for production processes, ensuring product quality and stability. The research segment also contributes to market growth, as medical gases are vital in various scientific studies and experiments. Additionally, the “Others” segment includes niche applications, such as cryogenics and food preservation. As healthcare advancements continue, these applications are expected to see steady growth, expanding the market for medical gases and equipment in India.
Segments:
Based on Medical Gases:
- Oxygen
- Nitrous Oxide
- Carbon Dioxide
- Nitrogen
- Others
Based on Application:
- Therapeutic
- Diagnostic
- Pharmaceutical Manufacturing
- Research
- Others
Based on End-user:
- Hospitals
- Ambulatory Surgical Centers
- Home Healthcare
- Clinics
- Others
Based on Medical Gas Equipment:
- Cylinders
- Flowmeters
- Regulators
- Vacuum Systems
- Others
Based on the Geography:
- Northern
- Western
- Southern
- Eastern
Regional Analysis
Northern India
Northern India dominates the market, accounting for approximately 35% of the overall market share. Northern India holds a dominant position in the medical gas and equipment market, driven by the robust healthcare infrastructure in cities like Delhi, Chandigarh, and Jaipur. The region’s large population base and increasing healthcare awareness contribute to the high demand for medical gases like oxygen and nitrous oxide, particularly in hospitals and emergency care settings. Government healthcare schemes and public health initiatives in the region have further accelerated growth in medical gas usage. The region’s large number of specialized medical facilities, including research institutions, pharmaceutical manufacturers, and diagnostic centers, contribute significantly to the demand for medical gases, including nitrogen and carbon dioxide, for various applications.
Western India Market
Western India, contributing approximately 30% to the market share, is another significant region driving the growth of medical gases and equipment. This region includes major economic hubs such as Mumbai, Ahmedabad, and Pune, where advanced healthcare infrastructure and a large concentration of healthcare facilities are present. The growing number of private hospitals, diagnostic centers, and healthcare units in these cities has led to increased consumption of medical gases. Additionally, Western India is home to numerous pharmaceutical and biotechnology companies that rely on gases like nitrogen and carbon dioxide for their manufacturing and research processes. The region’s well-established industrial base and significant focus on medical research make it a key market for medical gases and equipment.
Southern and Eastern India
Southern India is expected to grow steadily, with a market share of around 20%. Cities like Bengaluru, Hyderabad, Chennai, and Kochi are prominent centers for healthcare and medical research. The demand for medical gases is driven by a high concentration of private hospitals, specialized healthcare units, and medical device manufacturers in the region. The increasing focus on home healthcare services also contributes to the demand for portable medical gas equipment.
Eastern India, contributing around 15% to the market share, is a developing market for medical gases and equipment. Key cities like Kolkata and Bhubaneswar are seeing increased investments in healthcare infrastructure, leading to higher demand for medical gases. Although the market in this region is smaller compared to other parts of the country, it is expected to grow as healthcare services expand and awareness of medical gas applications increases.
Key Player Analysis
- Taiyo Nippon Sanso Corporation
- Air Liquide
- Linde Plc
- India National Air Separation Engineering Co., Ltd.
- Suzhou Xinglu Air Separation Plant Science and Technology Development Co., Ltd.
- INOX Air Products Pvt. Ltd.
- Universal Industrial Gases, Inc.
- Cryogenmash JSC
- NovaAir Pvt. Ltd.
- Gas Malaysia Berhad
Competitive Analysis
The India Medical Gas and Equipment market is highly competitive, with both global and regional players striving for market share. Leading companies like Taiyo Nippon Sanso Corporation, Air Liquide, Linde Plc, India National Air Separation Engineering Co., Ltd., Suzhou Xinglu Air Separation Plant Science and Technology Development Co., Ltd., INOX Air Products Pvt. Ltd., Universal Industrial Gases, Inc., Cryogenmash JSC, NovaAir Pvt. Ltd., and Gas Malaysia Berhad dominate the market. For instance, companies like Draeger India have collaborated with healthcare facilities to establish advanced medical gas management systems. Companies in this sector focus on enhancing their product offerings by leveraging advanced technologies in medical gas production, storage, and delivery systems. Major players differentiate themselves through their strong distribution networks, superior customer service, and the ability to meet the specific needs of healthcare institutions across India. Technological innovation is a key factor driving competition, with companies investing in the development of intelligent gas management systems and portable medical gas equipment. These innovations aim to improve efficiency, safety, and patient care. The market also witnesses increasing collaborations and partnerships, as companies seek to strengthen their market position by enhancing production capacity and expanding their geographical reach. In addition to technological advancements, companies are focusing on adhering to stringent regulatory requirements and maintaining high-quality standards to ensure reliability and patient safety. Companies are also looking to capitalize on the rising demand for medical gases in home healthcare, with a particular emphasis on portable oxygen concentrators and other home-use equipment. To stay competitive, businesses are also addressing the need for cost-effective solutions that cater to both urban and rural healthcare markets in India.
Recent Developments
- In September 2024, Taiyo Nippon Sanso Corporation announced the development of CO2 shipping tank equipment aimed at achieving carbon neutrality, with plans for market release in Spring 2025.
- In May 2024, Linde entered into a long-term agreement with H2 Green Steel to supply industrial gases for the world’s first large-scale green steel plant. This project involves an investment of approximately $150 million to build an on-site air separation unit (ASU), which will also support local healthcare customers by providing essential gases like oxygen and nitrogen.
- In February 2024, GCE group launched new terminal units designed to improve safety and accuracy in medical gas pipeline systems. These units are critical for connecting medical gases to devices like ventilators
- In January 2024, Linde signed a record number of small on-site projects in 2023, totaling 53 projects with a capital expenditure of $270 million. These projects focus on the supply of nitrogen and oxygen, utilizing Linde’s ECOVAR® technology for enhanced efficiency and sustainability across various sectors, including healthcare.
Market Concentration & Characteristics
The India Medical Gas and Equipment market exhibits moderate to high concentration, with several large international players and a growing number of regional companies contributing to its development. While global companies dominate key segments, especially in urban areas with well-established healthcare infrastructure, regional players are gaining traction by expanding their service offerings and production capabilities. The market is characterized by a blend of established multinational corporations and emerging local enterprises, resulting in diverse competition. These companies focus on providing medical gases like oxygen, nitrous oxide, and carbon dioxide, which are essential for therapeutic, diagnostic, and research applications in healthcare settings.
A key characteristic of the market is its strong emphasis on compliance with regulatory standards, such as those set by the Drug Controller General of India (DCGI) and the Bureau of Indian Standards (BIS). Companies must meet these stringent guidelines to maintain safety and reliability in the medical gas supply chain. Additionally, the market is experiencing rapid growth due to increasing healthcare demand, government initiatives, and investments in healthcare infrastructure. This growth is encouraging companies to innovate in gas delivery systems, including portable and home healthcare solutions, to meet the evolving needs of healthcare providers and patients across India. The market’s competitive landscape continues to evolve as these players adapt to changing market dynamics.
Shape Your Report to Specific Countries or Regions & Enjoy 30% Off!
Report Coverage
The research report offers an in-depth analysis based on Medical Gases, Application, End-user, Medical Gas Equipment and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.
Future Outlook
- The India Medical Gas and Equipment market is expected to continue growing due to increasing healthcare infrastructure development and rising healthcare demands.
- The market is likely to benefit from government healthcare initiatives such as Ayushman Bharat, which will drive the adoption of medical gases across public health institutions.
- Technological advancements in medical gas delivery systems, such as portable and smart equipment, will boost the market’s expansion.
- Rising prevalence of chronic respiratory diseases will further increase demand for medical gases like oxygen and nitrous oxide in hospitals and home care settings.
- The demand for medical gases in diagnostic imaging and research applications is anticipated to rise as healthcare and scientific research activities expand.
- The growing focus on home healthcare solutions will create opportunities for portable medical gas equipment like oxygen concentrators.
- Regional market growth in Southern and Eastern India will contribute to increased demand for medical gases, especially in newly developed healthcare facilities.
- The increasing trend of medical tourism in India will drive the demand for medical gases in both private and public healthcare facilities.
- Companies are expected to increase investments in R&D to introduce cost-effective, efficient, and innovative gas management solutions.
- The competitive landscape will witness further consolidation as companies collaborate or acquire smaller players to enhance market reach and capabilities.