The Southeast Asia medical gas application and equipment market was valued at USD 19.90 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 5.8% from 2025 to 2034. This growth trajectory underscores the region's increasing demand for medical gases and related equipment, driven by factors such as rising healthcare infrastructure investments, an aging population, and the prevalence of chronic respiratory diseases. Countries like Thailand, Malaysia, and Singapore are emerging as key players in this market, owing to their advanced healthcare systems and medical tourism appeal. These nations are witnessing a surge in demand for high-quality medical gas systems to cater to both domestic needs and international patients seeking medical treatments.
In North America, the medical gas market is experiencing robust growth, with a projected increase from USD 19.90 billion in 2024 to USD 26.44 billion by 2029, at a CAGR of 5.8%. This expansion is attributed to the region's advanced healthcare infrastructure, high healthcare expenditure, and a large elderly population requiring respiratory support. The integration of medical gas systems in hospitals, clinics, and home healthcare settings is becoming increasingly sophisticated, with a focus on patient safety, efficiency, and compliance with stringent regulatory standards. The demand for medical gases such as oxygen, nitrous oxide, and carbon dioxide is on the rise, driven by their essential roles in anesthesia, respiratory therapies, and surgical procedures.
The competitive landscape in both Southeast Asia and North America is characterized by the presence of several key players who are instrumental in shaping the market dynamics. These companies are focusing on product innovation, strategic partnerships, and expanding their distribution networks to enhance their market presence. The emphasis is on developing advanced medical gas systems that offer improved safety features, ease of use, and integration with hospital information systems. Additionally, these players are investing in regional manufacturing capabilities to meet the growing demand and ensure timely delivery of products.
Competitive Landscape:
- Air Liquide
- Linde Plc
- Taiyo Nippon Sanso Corporation
- Air Products and Chemicals Inc.
- Atlas Copco AB
- GCE Group
- Messer SE & Co. KGaA
- SOL Spa
- Rotarex
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