Global medical gases market size is expected to witness significant growth by 2027, primarily driven by the rising incidences of infectious diseases and the subsequent increase in medical product requirement across healthcare facilities. After the COVID-19 outbreak, governments across the globe prioritized the optimization of existing medical infrastructure.

Special focus was placed on import as well as local production and distribution of medical oxygen gas for uninterrupted supply to designated COVID-hospitals. Increasing significance of medical gas supply in healthcare settings across the globe is expected to propel the gas production through the analysis period.

The medical gases market has been segmented on the basis of gas type, product end-users, and regional frame of reference. The different categories of medical gases used worldwide include pure gases and gas mixtures. In 2020, the gas mixtures sub-segment was valued at USD 6.2 billion and is projected to expand steadily through 2027.

In terms of end-use, the medical gases market has been categorized into hospitals, ambulatory surgical units, specialized clinics, and others. The industry share from specialized clinics is estimated to grow at a CAGR of 5.7% over 2021-2027 due to increasing demand for medical gases in specialized clinics for patients requiring intense care and life support systems.

Other users are projected to hold for nearly 3.7% of the total medical gases market share by the end of 2027. Other end-users of medical gases include nursing homes and long-term facilities that see high product demand, especially for oxygen therapy.

From the regional perspective, the Latin America market is estimated to observe steady growth at a CAGR of 6.2% over the forecast timeframe due to rising demand for medical gases for COVID-19 infected patients. LATAM has recently been witnessing inflated requirement for medical oxygen in the wake of the second wave of the ongoing coronavirus pandemic, wherein new virus variants are proving to be more infectious.

To accommodate the rising need for oxygen for COVID-19 infected patients in healthcare facilities, industry players are joining forces with both private and public health organizations to boost oxygen availability across the region. Companies are focusing on installing new or extra cryogenic tanks as well as additional cylinders and oxygen concentrators to cope with the lack of medical oxygen stock in the region. This has also escalated the demand for upgradation of distribution equipment and personnel in the area.

As a result, increasing focus of government agencies and companies to ensure adequate supply of medical gases is projected to support regional market growth through the forecast years. In 2020, the Middle East & Africa market accounted for a notable 2.4% share of the global medical gases industry and is speculated to observe stable expansion up to 2027.