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Vietnam Medical Gas and Equipment Market By Medical Gases (Oxygen, Nitrous Oxide, Carbon Dioxide, Nitrogen, Others); By Application (Therapeutic, Diagnostic, Pharmaceutical Manufacturing, Research, Others); By End-User (Hospitals, Ambulatory Surgical Centers, Home Healthcare, Clinics, Others); By Medical Gas Equipment (Cylinders, Flowmeters, Regulators, Vacuum Systems, Others) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2019-2022
Base Year	2023
Forecast Period	2024-2032
Vietnam Medical Gas and Equipment Market Size 2023	USD 9.48 million
Vietnam Medical Gas and Equipment Market, CAGR	8.13%
Vietnam Medical Gas and Equipment Market Size 2032	USD 17.71 million

Market Overview

The Vietnam Medical Gas and Equipment market is projected to grow from USD 9.48 million in 2023 to USD 17.71 million by 2032, with a compound annual growth rate (CAGR) of 8.13%.

The Vietnam Medical Gas and Equipment market is driven by the increasing demand for advanced healthcare infrastructure, rising awareness about the importance of medical gases in patient care, and the growing number of healthcare facilities across the country. Technological advancements in medical equipment, such as oxygen concentrators and ventilators, are also contributing to market growth. Additionally, the expanding elderly population and the increasing prevalence of chronic diseases like respiratory disorders are fueling the demand for medical gases and related equipment. Trends such as the integration of smart technologies in medical devices, including automated gas management systems, and the growing adoption of home healthcare solutions are further boosting the market. Moreover, government initiatives to improve healthcare standards and enhance medical service accessibility are creating favorable conditions for the expansion of the medical gas and equipment market in Vietnam.

The Vietnam Medical Gas and Equipment market is geographically diverse, with key players operating across various regions to meet the growing demand for medical gases and equipment. Southeast Vietnam, particularly Ho Chi Minh City, is the hub for medical gas systems due to its advanced healthcare infrastructure. Northern Vietnam, including Hanoi, also contributes significantly to market growth, driven by government initiatives and an expanding healthcare sector. Central and Southern Vietnam are emerging markets, with increasing adoption of medical gas equipment as healthcare infrastructure improves. Key players in the market include international giants like Air Liquide, Linde Plc, and Taiyo Nippon Sanso Corporation, as well as local companies such as Vietnam National Air Separation Engineering Co., Ltd. and NovaAir Pvt. Ltd. These players are crucial in providing advanced medical gases and equipment across the country, supporting both public and private healthcare sectors.

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Market Insights

The Vietnam Medical Gas and Equipment market is projected to grow from USD 9.48 million in 2023 to USD 17.71 million by 2032, at a CAGR of 8.13%.
Increasing healthcare infrastructure development in urban and rural areas is driving the demand for advanced medical gas systems.
Technological advancements, such as smart gas management systems and portable oxygen concentrators, are enhancing the market growth.
Rising prevalence of chronic diseases, including respiratory disorders, is boosting the demand for medical gases like oxygen and nitrous oxide.
Competitive landscape includes global players like Air Liquide, Linde Plc, and Taiyo Nippon Sanso Corporation, along with local companies such as Vietnam National Air Separation Engineering Co., Ltd.
Limited awareness and high cost of advanced equipment remain key market restraints, limiting adoption in smaller healthcare facilities.
Southeast and Northern Vietnam dominate the market, while Central and Southern Vietnam are emerging regions with growing medical gas demand.

Market Drivers

Aging Population and Home Healthcare Trends

Vietnam’s aging population is driving the demand for medical gas equipment, as elderly individuals are more prone to respiratory issues and other health problems that require medical gas therapies. For instance, the older population in Vietnam increased from 7.45 million in 2009 to 11.41 million in 2019. Moreover, the growing trend of home healthcare is increasing the adoption of medical gas systems for home use, as patients seek more convenient and affordable healthcare solutions. This shift is leading to a surge in demand for portable and easy-to-use medical gas equipment, further stimulating market growth.

Rising Prevalence of Chronic Diseases

The rising prevalence of chronic diseases, particularly respiratory disorders such as chronic obstructive pulmonary disease (COPD) and asthma, is another key driver for the medical gas and equipment market in Vietnam. These conditions require continuous oxygen therapy, leading to a higher demand for medical gases like oxygen and ventilators. For example, non-communicable diseases (NCDs) accounted for 81% of deaths in Vietnam in 2019, with COPD being one of the leading causes. With an increasing number of patients requiring long-term management of chronic diseases, the demand for medical gas equipment and related devices is expected to continue growing.

Growing Healthcare Infrastructure

Vietnam’s expanding healthcare infrastructure is a significant driver of the medical gas and equipment market. The government’s efforts to improve healthcare services, particularly in rural areas, have led to the establishment of new hospitals, clinics, and healthcare centers. These facilities require advanced medical gas systems to ensure the proper delivery of oxygen, nitrogen, and other gases to patients. As healthcare infrastructure grows, the demand for medical gas equipment also increases, fueling market expansion.

Technological Advancements in Medical Equipment

Advancements in medical technology are playing a crucial role in the market’s growth. The introduction of more efficient and user-friendly medical gas equipment, such as portable oxygen concentrators and automated gas management systems, has increased the market’s attractiveness. These innovations are improving patient care by providing more precise and reliable gas delivery systems, contributing to the rising demand for medical gas solutions in hospitals, home care settings, and emergency services.

Market Trends

Increasing Government Support and Regulations

The Vietnamese government is placing increasing emphasis on improving healthcare standards, which has positively impacted the medical gas and equipment market. Policies and regulations aimed at upgrading healthcare infrastructure, enhancing medical technology, and ensuring the availability of life-saving medical equipment are accelerating market growth. For instance, the Ministry of Health’s regulations on medical equipment standards and quality control are ensuring that healthcare facilities have access to reliable and safe medical gas systems. Government-backed initiatives to promote the adoption of advanced medical technologies are creating a favorable environment for market players to expand their product offerings, particularly in the field of medical gases and associated equipment.

Integration of Smart Technology

One of the key trends in the Vietnam Medical Gas and Equipment market is the increasing integration of smart technology into medical devices. Automated gas management systems, which monitor and control the flow of medical gases, are gaining popularity due to their ability to enhance operational efficiency and reduce the risk of human error. These systems also offer real-time data, enabling healthcare providers to better track patient needs and equipment performance. The demand for such intelligent medical gas equipment is expected to continue growing as healthcare facilities increasingly prioritize automation and data-driven decision-making.

Expansion of Home Healthcare Solutions

The growing trend of home healthcare is significantly influencing the medical gas and equipment market in Vietnam. With more patients opting for in-home treatment due to the convenience and cost-effectiveness, there is an increasing demand for portable and easy-to-use medical gas solutions. Devices like portable oxygen concentrators and home-based ventilators are being adopted widely, enabling patients to receive continuous care in a familiar and comfortable environment. This shift towards home healthcare is expected to drive the demand for medical gas equipment designed for residential use.

Emphasis on Sustainable and Eco-friendly Solutions

As environmental concerns become more prominent, there is a noticeable trend towards sustainable and eco-friendly solutions within the medical gas equipment market in Vietnam. Manufacturers are focusing on developing energy-efficient and low-emission equipment, such as oxygen concentrators that reduce reliance on cylinder-based oxygen delivery systems. The shift towards eco-friendly practices is not only driven by regulatory pressures but also by the growing awareness among healthcare providers about reducing their carbon footprint while ensuring high-quality patient care.

Market Challenges Analysis

Limited Awareness and Training for Healthcare Providers

Another challenge is the limited awareness and training among healthcare providers regarding the proper use and maintenance of medical gas equipment. While medical gases are essential for patient care, improper handling or lack of knowledge about gas delivery systems can lead to inefficiencies or safety risks. For example, the Asia Industrial Gases Association (AIGA) emphasizes the importance of understanding the requirements for the design and installation of medical gas supply systems to ensure safety. Inadequate training programs for healthcare professionals on the proper use of medical gas equipment can lead to operational errors, compromising patient care. Furthermore, healthcare institutions may struggle to keep up with the rapid pace of technological advancements in medical gas systems, which could impact the effective utilization of these critical tools. These factors present obstacles to the optimal growth and functionality of the market.

High Cost of Advanced Medical Equipment

A significant challenge facing the Vietnam Medical Gas and Equipment market is the high cost associated with advanced medical gas systems and equipment. Many healthcare facilities, particularly those in rural or underdeveloped areas, face budget constraints that hinder their ability to invest in the latest technology. While advanced equipment, such as automated gas management systems and portable oxygen concentrators, can greatly improve patient care, the initial investment required can be prohibitive. This price barrier limits the widespread adoption of cutting-edge solutions, particularly in smaller healthcare centers, potentially stalling the market’s growth in these regions.

Market Opportunities

The Vietnam Medical Gas and Equipment market presents significant opportunities for growth, driven by the increasing demand for healthcare services and the modernization of medical facilities. As the country continues to improve its healthcare infrastructure, there is a rising need for advanced medical gas systems in both urban and rural hospitals. The government’s focus on enhancing healthcare access and quality, especially in underserved areas, offers a prime opportunity for market players to expand their presence. Manufacturers and distributors of medical gas equipment can capitalize on the government’s initiatives by offering cost-effective and reliable solutions that cater to the growing number of healthcare facilities, including new hospitals and clinics being established across the country.

Furthermore, the growing trend of home healthcare in Vietnam offers substantial market potential for portable medical gas equipment. With an aging population and an increasing number of patients opting for home care due to convenience and cost savings, the demand for home-use oxygen concentrators, portable ventilators, and other medical gas devices is expected to rise. This trend presents an opportunity for companies to develop innovative, user-friendly products tailored to the needs of home healthcare providers and patients. Additionally, there is increasing interest in eco-friendly and energy-efficient medical gas solutions, which presents a chance for companies to align with sustainability trends while meeting the needs of environmentally conscious healthcare providers. The combination of these factors creates a favorable market environment for companies to expand their offerings and tap into new growth opportunities.

Market Segmentation Analysis:

By Medical Gases:

The Vietnam Medical Gas and Equipment market is primarily segmented by the type of medical gases used. Oxygen dominates the market due to its critical role in treating respiratory conditions and providing life support in emergency and critical care settings. Nitrous oxide, often used as an anesthetic in surgeries, is also a significant segment. Carbon dioxide is commonly used in diagnostic procedures, particularly in minimally invasive surgeries. Nitrogen, typically used in cryosurgery and as a refrigerant, holds a smaller but growing share in the market. Other gases, including medical air and helium, cater to specific healthcare applications. The increasing healthcare demands, driven by a rise in chronic diseases and surgical procedures, are driving the growth in the demand for medical gases across various healthcare settings, including hospitals, clinics, and home care environments.

By Application:

The application segment of the Vietnam Medical Gas and Equipment market is diverse, encompassing therapeutic, diagnostic, pharmaceutical manufacturing, research, and other applications. Therapeutic applications, which use gases like oxygen and nitrous oxide for patient care, hold the largest market share. Diagnostic applications, involving gases like carbon dioxide for imaging and testing, are also critical drivers. The pharmaceutical manufacturing sector, which uses medical gases in the production of medicines and vaccines, is expanding with the growth of the biopharmaceutical industry. Additionally, research applications involving gases are growing in importance as Vietnam invests in medical research and innovation. Other applications, including industrial and military uses of medical gases, further contribute to the market’s diverse growth, creating opportunities for players across all segments.

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:

Southeast Vietnam
Northern Vietnam
Central Vietnam
Southern Vietnam

Regional Analysis

Southeast Vietnam

Southeast Vietnam holds a dominant share of the Vietnam Medical Gas and Equipment market, accounting for approximately 40% of the total market. This region is home to the country’s largest and most developed urban areas, including Ho Chi Minh City, which serves as the economic and healthcare hub of Vietnam. The high concentration of advanced healthcare facilities and hospitals in this region drives significant demand for medical gases such as oxygen, nitrous oxide, and carbon dioxide. Additionally, the region’s rapidly expanding healthcare infrastructure, coupled with increasing healthcare awareness and government initiatives, has contributed to its strong market position. The growing number of private hospitals, research institutions, and pharmaceutical manufacturing facilities further fuels the demand for medical gas solutions. Southeast Vietnam is expected to maintain its leading market share due to continued investments in healthcare and rising medical tourism in the region.

Northern Vietnam

Northern Vietnam, with a market share of approximately 30%, represents another crucial region for medical gas and equipment demand. Hanoi, the capital city, is the primary driver of this market segment, with a large number of public and private healthcare institutions. The government’s focus on improving healthcare services in northern provinces, including significant investments in hospital infrastructure and medical research facilities, is boosting the market. Additionally, the increasing prevalence of respiratory diseases and the aging population in the northern region further fuels the demand for therapeutic gases such as oxygen. Northern Vietnam also benefits from a growing pharmaceutical manufacturing sector, where medical gases are integral in production processes. The region’s rapid economic growth and healthcare development plans are expected to maintain the region’s steady contribution to the overall market share.

Central Vietnam

Central Vietnam holds a smaller share of the medical gas and equipment market, approximately 15%. This region, while developing, lags behind Southeast and Northern Vietnam in terms of healthcare infrastructure and medical gas demand. However, cities like Da Nang are emerging as healthcare hubs, with increasing investments in hospitals and healthcare services. The government’s initiatives to improve healthcare access in less developed areas of the central region have led to a gradual increase in the adoption of medical gas systems. With an expanding population and a growing focus on improving healthcare facilities, Central Vietnam presents opportunities for market growth, especially in therapeutic and diagnostic applications. As more healthcare providers in this region adopt advanced medical gas systems, the market share is expected to expand over time.

Southern Vietnam

Southern Vietnam, which accounts for around 15% of the total market share, is witnessing a gradual increase in medical gas demand, although it lags behind the Southeast and Northern regions. This region includes both industrial zones and rural areas, with healthcare infrastructure concentrated in key cities such as Can Tho and Vung Tau. The adoption of medical gases in therapeutic and diagnostic applications is growing, driven by an increasing focus on public health and the development of healthcare services in underserved areas. However, due to the more limited healthcare infrastructure compared to other regions, the market share remains relatively smaller. Despite this, Southern Vietnam offers substantial potential for market expansion, particularly as the government continues to invest in healthcare and promote medical gas systems to improve patient care.

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Key Player Analysis

Taiyo Nippon Sanso Corporation
Air Liquide
Linde Plc
Vietnam 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 competitive landscape of the Vietnam Medical Gas and Equipment market features both international and local players. Leading global companies such as Air Liquide, Linde Plc, and Taiyo Nippon Sanso Corporation dominate the market with their vast product portfolios and advanced medical gas solutions. These companies are recognized for their global reach, technological expertise, and ability to deliver high-quality medical gases to hospitals and healthcare facilities across Vietnam. Additionally, local players like Vietnam National Air Separation Engineering Co., Ltd. and NovaAir Pvt. Ltd. are making significant strides in the market, leveraging their knowledge of local regulations and customer preferences to cater to the growing demand for medical gases and related equipment. To stay competitive, these players focus on innovation, offering advanced medical gas systems such as automated gas management solutions and portable oxygen concentrators. For instance, Vietnam National Air Separation Engineering Co., Ltd. has developed cost-effective solutions tailored to local healthcare needs. They are also investing in expanding their manufacturing capabilities and distribution networks within Vietnam to meet the increasing healthcare demand. While global players benefit from their well-established market presence, local companies are focusing on cost-effective solutions and personalized service to gain traction in the rapidly growing medical gas sector. The competitive dynamics continue to evolve as these companies strive to meet the needs of the expanding healthcare sector in Vietnam.

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 Vietnam Medical Gas and Equipment market exhibits moderate concentration, with both global and local players contributing to its growth. While multinational corporations such as Air Liquide, Linde Plc, and Taiyo Nippon Sanso Corporation hold significant market share due to their established global presence, local players like Vietnam National Air Separation Engineering Co., Ltd. and NovaAir Pvt. Ltd. are gaining traction by catering to region-specific needs. The market is characterized by the strong presence of well-established companies offering a wide range of medical gas solutions, from oxygen and nitrous oxide to specialized gases for therapeutic, diagnostic, and research applications. Despite the dominance of larger players, the market remains fragmented with a growing number of small and medium-sized enterprises (SMEs) that focus on providing cost-effective and tailored solutions. This fragmentation allows for a dynamic competitive landscape, where companies differentiate themselves through innovation, customer service, and the ability to offer localized products. The increasing demand for medical gases, driven by rising healthcare needs and infrastructure development, is fueling competition, making it an attractive sector for both established players and new entrants aiming to capitalize on emerging opportunities in Vietnam’s healthcare market.

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 Vietnam Medical Gas and Equipment market is expected to continue growing at a steady pace, driven by rising healthcare infrastructure and increasing demand for medical gases.
The adoption of advanced medical gas management systems and portable oxygen concentrators will enhance market dynamics.
Government initiatives aimed at improving healthcare access and quality in rural and underserved areas will drive demand for medical gases.
The aging population and increasing prevalence of respiratory diseases will further fuel the need for medical gases like oxygen and nitrous oxide.
There will be a growing focus on eco-friendly and energy-efficient medical gas solutions to meet sustainability trends in healthcare.
The emergence of home healthcare will create new opportunities for portable medical gas equipment.
Local companies are expected to play a larger role, offering cost-effective solutions tailored to regional needs.
Technological innovations in gas production and delivery systems will contribute to improved efficiency and patient care.
Expansion in the pharmaceutical manufacturing sector will increase the demand for medical gases in drug production processes.
The competitive landscape will remain dynamic, with both international and local players striving for market share through innovation and enhanced customer service.

CHAPTER NO. 1 : INTRODUCTION 20

1.1.1. Report Description 20

Purpose of the Report 20

USP & Key Offerings 20

1.1.2. Key Benefits for Stakeholders 20

1.1.3. Target Audience 21

1.1.4. Report Scope 21

CHAPTER NO. 2 : EXECUTIVE SUMMARY 22

2.1. Medical Gas and Equipment Market Snapshot 22

2.1.1. Vietnam Medical Gas and Equipment Market, 2018 – 2032 (USD Million) 23

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 24

3.1. Russia-Ukraine and Israel-Palestine War Impacts 24

CHAPTER NO. 4 : MEDICAL GAS AND EQUIPMENT MARKET – INDUSTRY ANALYSIS 25

4.1. Introduction 25

4.2. Market Drivers 26

4.2.1. Rising prevalence of respiratory diseases 26

4.2.2. Increasing demand for home healthcare services 27

4.3. Market Restraints 28

4.3.1. Stringent regulatory policies 28

4.4. Market Opportunities 29

4.4.1. Growing advancements in portable medical gas equipment 29

4.5. Porter’s Five Forces Analysis 30

4.6. Buying Criteria 31

CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 32

5.1. Import Analysis by Vietnam 32

5.1.1. Vietnam Medical Gas and Equipment Market Import Volume/Revenue, By Vietnam, 2018 – 2023 32

5.2. Export Analysis by Vietnam 33

5.2.1. Vietnam Medical Gas and Equipment Market Export Volume/Revenue, By Vietnam, 2018 – 2023 33

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 34

6.1. Demand Analysis by Vietnam 34

6.1.1. Vietnam Medical Gas and Equipment Market Demand Volume/Revenue, By Vietnam, 2018 – 2023 34

6.2. Supply Analysis by Vietnam 35

6.2.1. Vietnam Medical Gas and Equipment Market Supply Volume/Revenue, By Vietnam, 2018 – 2023 35

CHAPTER NO. 7 : PRODUCTION ANALYSIS 36

7.1. Production Analysis by Vietnam 36

7.1.1. Vietnam Medical Gas and Equipment Market Production Volume/Revenue, By Vietnam, 2018 – 2023 36

CHAPTER NO. 8 : PRICE ANALYSIS 37

8.1. Price Analysis by Medical Gases 37

8.1.1. Vietnam Medical Gas and Equipment Market Price, By Medical Gases, 2018 – 2023 37

8.1.2. Vietnam Medical Gases Market Price, By Medical Gases, 2018 – 2023 37

CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 38

9.1. Key Raw Materials and Suppliers 38

9.2. Key Raw Materials Price Trend 38

CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 39

10.1. Manufacturing Cost Analysis 39

10.2. Manufacturing Process 39

CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 40

11.1. Company Market Share Analysis – 2023 40

11.2. Value Chain Analysis 40

11.2.1. Vietnam Medical Gas and Equipment Market: Company Market Share, by Volume, 2023 41

11.2.2. Vietnam Medical Gas and Equipment Market: Company Market Share, by Revenue, 2023 42

11.2.3. Vietnam Medical Gas and Equipment Market: Top 6 Company Market Share, by Revenue, 2023 42

11.2.4. Vietnam Medical Gas and Equipment Market: Top 3 Company Market Share, by Revenue, 2023 43

11.3. Vietnam Medical Gas and Equipment Market Company Volume Market Share, 2023 44

11.4. Vietnam Medical Gas and Equipment Market Company Revenue Market Share, 2023 45

11.5. Company Assessment Metrics, 2023 45

11.5.1. Stars 45

11.5.2. Emerging Leaders 45

11.5.3. Pervasive Players 45

11.5.4. Participants 45

11.6. Start-ups /SMEs Assessment Metrics, 2023 45

11.6.1. Progressive Companies 45

11.6.2. Responsive Companies 46

11.6.3. Dynamic Companies 46

11.6.4. Starting Blocks 46

11.7. Strategic Developments 47

11.7.1. Acquisitions & Mergers 47

New Product Launch 47

Vietnam Expansion 47

11.8. Key Players Product Matrix 48

CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 49

12.1. PESTEL 49

12.1.1. Political Factors 49

12.1.2. Economic Factors 49

12.1.3. Social Factors 49

12.1.4. Technological Factors 49

12.1.5. Environmental Factors 49

12.1.6. Legal Factors 49

12.2. Adjacent Market Analysis 49

CHAPTER NO. 13 : MEDICAL GAS AND EQUIPMENT MARKET – BY MEDICAL GASES SEGMENT ANALYSIS 50

13.1. Medical Gas and Equipment Market Overview, by Medical Gases Segment 50

13.1.1. Medical Gas and Equipment Market Revenue Share, By Medical Gases, 2023 & 2032 51

13.1.2. Medical Gas and Equipment Market Attractiveness Analysis, By Medical Gases 52

13.1.3. Incremental Revenue Growth Opportunity, by Medical Gases, 2024 – 2032 52

13.1.4. Medical Gas and Equipment Market Revenue, By Medical Gases, 2018, 2023, 2027 & 2032 53

13.2. Oxygen 54

13.3. Nitrous Oxide 55

13.4. Carbon Dioxide 56

13.5. Nitrogen 57

13.6. Others 58

CHAPTER NO. 14 : MEDICAL GAS AND EQUIPMENT MARKET – BY APPLICATION SEGMENT ANALYSIS 59

14.1. Medical Gas and Equipment Market Overview, by Application Segment 59

14.1.1. Medical Gas and Equipment Market Revenue Share, By Application, 2023 & 2032 60

14.1.2. Medical Gas and Equipment Market Attractiveness Analysis, By Application 61

14.1.3. Incremental Revenue Growth Opportunity, by Application, 2024 – 2032 61

14.1.4. Medical Gas and Equipment Market Revenue, By Application, 2018, 2023, 2027 & 2032 62

14.2. Therapeutic 63

14.3. Diagnostic 64

14.4. Pharmaceutical Manufacturing 65

14.5. Research 66

14.6. Others 67

CHAPTER NO. 15 : MEDICAL GAS AND EQUIPMENT MARKET – BY END-USER SEGMENT ANALYSIS 68

15.1. Medical Gas and Equipment Market Overview, by End-user Segment 68

15.1.1. Medical Gas and Equipment Market Revenue Share, By End-user, 2023 & 2032 69

15.1.2. Medical Gas and Equipment Market Attractiveness Analysis, By End-user 70

15.1.3. Incremental Revenue Growth Opportunity, by End-user, 2024 – 2032 70

15.1.4. Medical Gas and Equipment Market Revenue, By End-user, 2018, 2023, 2027 & 2032 71

15.2. Hospitals 72

15.3. Ambulatory Surgical Centers 73

15.4. Home Healthcare 74

15.5. Clinics 75

15.6. Others 76

CHAPTER NO. 16 : MEDICAL GAS AND EQUIPMENT MARKET – BY MEDICAL GAS EQUIPMENT SEGMENT ANALYSIS 77

16.1. Medical Gas and Equipment Market Overview, by Medical Gas Equipment Segment 77

16.1.1. Medical Gas and Equipment Market Revenue Share, By Medical Gas Equipment, 2023 & 2032 78

16.1.2. Medical Gas and Equipment Market Attractiveness Analysis, By Medical Gas Equipment 79

16.1.3. Incremental Revenue Growth Opportunity, by Medical Gas Equipment, 2024 – 2032 79

16.1.4. Medical Gas and Equipment Market Revenue, By Medical Gas Equipment, 2018, 2023, 2027 & 2032 80

16.2. Cylinders 81

16.3. Flowmeters 82

16.4. Regulators 83

16.5. Vacuum Systems 84

16.6. Others 85

CHAPTER NO. 17 : MEDICAL GAS AND EQUIPMENT MARKET – VIETNAM ANALYSIS 86

17.1. Medical Gases 86

17.1.1. Vietnam Medical Gas and Equipment Market Revenue, By Medical Gases, 2018 – 2023 (USD Million) 86

17.2. Vietnam Medical Gas and Equipment Market Revenue, By Medical Gases, 2024 – 2032 (USD Million) 86

17.3. Application 87

17.3.1. Vietnam Medical Gas and Equipment Market Revenue, By Application, 2018 – 2023 (USD Million) 87

17.3.2. Vietnam Medical Gas and Equipment Market Revenue, By Application, 2024 – 2032 (USD Million) 87

17.4. End-user 88

17.4.1. Vietnam Medical Gas and Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 88

17.4.2. Vietnam Medical Gas and Equipment Market Revenue, By End-user, 2024 – 2032 (USD Million) 88

17.5. Medical Gas Equipment 89

17.5.1. Vietnam Medical Gas and Equipment Market Revenue, By Medical Gas Equipment, 2018 – 2023 (USD Million) 89

17.5.2. Vietnam Medical Gas and Equipment Market Revenue, By Medical Gas Equipment, 2024 – 2032 (USD Million) 89

CHAPTER NO. 18 : COMPANY PROFILES 90

18.1. Taiyo Nippon Sanso Corporation 90

18.1.1. Company Overview 90

18.1.2. Product Portfolio 90

18.1.3. Swot Analysis 90

18.1.4. Business Strategy 91

18.1.5. Financial Overview 91

18.2. Air Liquide 92

18.3. Linde Plc 92

18.4. Vietnam National Air Separation Engineering Co., Ltd. 92

18.5. Suzhou Xinglu Air Separation Plant Science and Technology Development Co., Ltd. 92

18.6. INOX Air Products Pvt. Ltd. 92

18.7. Universal Industrial Gases, Inc. 92

18.8. Cryogenmash JSC 92

18.9. NovaAir Pvt. Ltd. 92

18.10. Gas Malaysia Berhad 92

List of Figures

FIG NO. 1. Vietnam Medical Gas and Equipment Market Revenue, 2018 – 2032 (USD Million) 23

FIG NO. 2. Porter’s Five Forces Analysis for Vietnam Medical Gas and Equipment Market 30

FIG NO. 3. Vietnam Medical Gas and Equipment Market Import Volume/Revenue, By Vietnam, 2018 – 2023 32

FIG NO. 4. Vietnam Medical Gas and Equipment Market Export Volume/Revenue, By Vietnam, 2018 – 2023 33

FIG NO. 5. Vietnam Medical Gas and Equipment Market Demand Volume/Revenue, By Vietnam, 2018 – 2023 34

FIG NO. 6. Vietnam Medical Gas and Equipment Market Supply Volume/Revenue, By Vietnam, 2018 – 2023 35

FIG NO. 7. Vietnam Medical Gas and Equipment Market Production Volume/Revenue, By Vietnam, 2018 – 2023 36

FIG NO. 8. Vietnam Medical Gas and Equipment Market Price, By Medical Gases, 2018 – 2023 37

FIG NO. 9. Raw Materials Price Trend Analysis, 2018 – 2023 38

FIG NO. 10. Manufacturing Cost Analysis 39

FIG NO. 11. Manufacturing Process 39

FIG NO. 12. Value Chain Analysis for Vietnam Medical Gas and Equipment Market 40

FIG NO. 13. Company Share Analysis, 2023 41

FIG NO. 14. Company Share Analysis, 2023 42

FIG NO. 15. Company Share Analysis, 2023 42

FIG NO. 16. Company Share Analysis, 2023 43

FIG NO. 17. Medical Gas and Equipment Market – Company Volume Market Share, 2023 44

FIG NO. 18. Medical Gas and Equipment Market – Company Revenue Market Share, 2023 45

FIG NO. 19. Medical Gas and Equipment Market Revenue Share, By Medical Gases, 2023 & 2032 51

FIG NO. 20. Market Attractiveness Analysis, By Medical Gases 52

FIG NO. 21. Incremental Revenue Growth Opportunity by Medical Gases, 2024 – 2032 52

FIG NO. 22. Medical Gas and Equipment Market Revenue, By Medical Gases, 2018, 2023, 2027 & 2032 53

FIG NO. 23. Vietnam Medical Gas and Equipment Market for Oxygen, Revenue (USD Million) 2018 – 2032 54

FIG NO. 24. Vietnam Medical Gas and Equipment Market for Nitrous Oxide, Revenue (USD Million) 2018 – 2032 55

FIG NO. 25. Vietnam Medical Gas and Equipment Market for Carbon Dioxide, Revenue (USD Million) 2018 – 2032 56

FIG NO. 26. Vietnam Medical Gas and Equipment Market for Nitrogen, Revenue (USD Million) 2018 – 2032 57

FIG NO. 27. Vietnam Medical Gas and Equipment Market for Others, Revenue (USD Million) 2018 – 2032 58

FIG NO. 28. Medical Gas and Equipment Market Revenue Share, By Application, 2023 & 2032 60

FIG NO. 29. Market Attractiveness Analysis, By Application 61

FIG NO. 30. Incremental Revenue Growth Opportunity by Application, 2024 – 2032 61

FIG NO. 31. Medical Gas and Equipment Market Revenue, By Application, 2018, 2023, 2027 & 2032 62

FIG NO. 32. Vietnam Medical Gas and Equipment Market for Therapeutic, Revenue (USD Million) 2018 – 2032 63

FIG NO. 33. Vietnam Medical Gas and Equipment Market for Diagnostic, Revenue (USD Million) 2018 – 2032 64

FIG NO. 34. Vietnam Medical Gas and Equipment Market for Pharmaceutical Manufacturing, Revenue (USD Million) 2018 – 2032 65

FIG NO. 35. Vietnam Medical Gas and Equipment Market for Research, Revenue (USD Million) 2018 – 2032 66

FIG NO. 36. Vietnam Medical Gas and Equipment Market for Others, Revenue (USD Million) 2018 – 2032 67

FIG NO. 37. Medical Gas and Equipment Market Revenue Share, By End-user, 2023 & 2032 69

FIG NO. 38. Market Attractiveness Analysis, By End-user 70

FIG NO. 39. Incremental Revenue Growth Opportunity by End-user, 2024 – 2032 70

FIG NO. 40. Medical Gas and Equipment Market Revenue, By End-user, 2018, 2023, 2027 & 2032 71

FIG NO. 41. Vietnam Medical Gas and Equipment Market for Hospitals, Revenue (USD Million) 2018 – 2032 72

FIG NO. 42. Vietnam Medical Gas and Equipment Market for Ambulatory Surgical Centers, Revenue (USD Million) 2018 – 2032 73

FIG NO. 43. Vietnam Medical Gas and Equipment Market for Home Healthcare, Revenue (USD Million) 2018 – 2032 74

FIG NO. 44. Vietnam Medical Gas and Equipment Market for Clinics, Revenue (USD Million) 2018 – 2032 75

FIG NO. 45. Vietnam Medical Gas and Equipment Market for Others, Revenue (USD Million) 2018 – 2032 76

FIG NO. 46. Medical Gas and Equipment Market Revenue Share, By Medical Gas Equipment, 2023 & 2032 78

FIG NO. 47. Market Attractiveness Analysis, By Medical Gas Equipment 79

FIG NO. 48. Incremental Revenue Growth Opportunity by Medical Gas Equipment, 2024 – 2032 79

FIG NO. 49. Medical Gas and Equipment Market Revenue, By Medical Gas Equipment, 2018, 2023, 2027 & 2032 80

FIG NO. 50. Vietnam Medical Gas and Equipment Market for Cylinders, Revenue (USD Million) 2018 – 2032 81

FIG NO. 51. Vietnam Medical Gas and Equipment Market for Flowmeters, Revenue (USD Million) 2018 – 2032 82

FIG NO. 52. Vietnam Medical Gas and Equipment Market for Regulators, Revenue (USD Million) 2018 – 2032 83

FIG NO. 53. Vietnam Medical Gas and Equipment Market for Vacuum Systems, Revenue (USD Million) 2018 – 2032 84

FIG NO. 54. Vietnam Medical Gas and Equipment Market for Others, Revenue (USD Million) 2018 – 2032 85

List of Tables

TABLE NO. 1. : Vietnam Medical Gas and Equipment Market: Snapshot 22

TABLE NO. 2. : Drivers for the Medical Gas and Equipment Market: Impact Analysis 26

TABLE NO. 3. : Restraints for the Medical Gas and Equipment Market: Impact Analysis 28

TABLE NO. 4. : Vietnam Medical Gas and Equipment Market Revenue, By Medical Gases, 2018 – 2023 37

TABLE NO. 5. : Key Raw Materials & Suppliers 38

TABLE NO. 6. : Vietnam Medical Gas and Equipment Market Revenue, By Medical Gases, 2018 – 2023 (USD Million) 86

TABLE NO. 7. : Vietnam Medical Gas and Equipment Market Revenue, By Medical Gases, 2024 – 2032 (USD Million) 86

TABLE NO. 8. : Vietnam Medical Gas and Equipment Market Revenue, By Application, 2018 – 2023 (USD Million) 87

TABLE NO. 9. : Vietnam Medical Gas and Equipment Market Revenue, By Application, 2024 – 2032 (USD Million) 87

TABLE NO. 10. : Vietnam Medical Gas and Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 88

TABLE NO. 11. : Vietnam Medical Gas and Equipment Market Revenue, By End-user, 2024 – 2032 (USD Million) 88

TABLE NO. 12. : Vietnam Medical Gas and Equipment Market Revenue, By Medical Gas Equipment, 2018 – 2023 (USD Million) 89

TABLE NO. 13. : Vietnam Medical Gas and Equipment Market Revenue, By Medical Gas Equipment, 2024 – 2032 (USD Million) 89

Frequently Asked Questions

What is the current size of the Vietnam Medical Gas and Equipment Market?

The Vietnam Medical Gas and Equipment market was valued at USD 9.48 million in 2023 and is projected to grow to USD 17.71 million by 2032, reflecting a compound annual growth rate (CAGR) of 8.13% during the forecast period.

What factors are driving the growth of the Vietnam Medical Gas and Equipment Market?

The market’s growth is driven by increasing healthcare infrastructure development, rising awareness about medical gases in patient care, and the growing elderly population susceptible to chronic respiratory diseases. Technological advancements, such as portable oxygen concentrators and automated gas management systems, and government initiatives to enhance healthcare standards further contribute to market expansion.

What are the key segments within the Vietnam Medical Gas and Equipment Market?

The market is segmented by medical gases (oxygen, nitrous oxide, carbon dioxide, nitrogen, and others), application (therapeutic, diagnostic, pharmaceutical manufacturing, research, and others), end-user (hospitals, ambulatory surgical centers, home healthcare, clinics, and others), and medical gas equipment (cylinders, flowmeters, regulators, vacuum systems, and others). Geographically, the market is categorized into Southeast, Northern, Central, and Southern Vietnam.

What are some challenges faced by the Vietnam Medical Gas and Equipment Market?

Challenges include limited awareness and training among healthcare providers regarding the proper use of medical gas equipment and the high cost of advanced systems like automated gas management tools and portable oxygen concentrators. These factors restrict adoption, particularly in rural and underdeveloped areas, hindering market growth.

Who are the major players in the Vietnam Medical Gas and Equipment Market?

Key players include global companies such as Air Liquide, Linde Plc, and Taiyo Nippon Sanso Corporation, along with local players like Vietnam National Air Separation Engineering Co., Ltd. and NovaAir Pvt. Ltd. These companies focus on technological innovation, expanding manufacturing capabilities, and offering cost-effective solutions to address the growing healthcare needs in Vietnam.

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