The India medical gas market size reached USD 715.50 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,656.70 Million by 2033, exhibiting a growth rate (CAGR) of 9.03% during 2025-2033. The India medical gas market is driven by rapid healthcare infrastructure expansion, increasing adoption of advanced medical devices, rising demand for home healthcare services, government initiatives like the Ayushman Bharat scheme, and growing investments in domestic medical gas production, ensuring a steady supply to support hospitals, clinics, and emergency medical care.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 715.50 Million |
Market Forecast in 2033 | USD 1,656.70 Million |
Market Growth Rate (2025-2033) | 9.03% |
Expansion of Healthcare Infrastructure
India has been investing heavily to upgrade its healthcare infrastructure, directly impacting the demand for medical gases. In the 2021-22 Union Budget, the Government of India invested INR 2,23,846 crore in health and well-being, which is a 137% rise from the last fiscal year. It placed INR 35,000 crore for the vaccine for COVID-19 and INR 64,180 crore for the Pradhan Mantri Atmanirbhar Swasth Bharat Yojana (PMASBY), a scheme to enhance the healthcare infrastructure in the country. The PMASBY aims at building the capacities of primary, secondary, and tertiary care health systems, reinforcing existing national institutions, and building new institutions to respond to the detection and treatment of new and emerging illnesses. The systematic approach ensures a strong healthcare system that can respond to the growing need for medical care. With escalating extension and upgradation of healthcare units, the need for medical gases like oxygen, nitrous oxide, and medical air grows, driving the expansion of the market for medical gases. Additionally, the government's focus on developing 17,788 rural and 11,024 urban Health and Wellness Centers under this scheme ensures that medical services reach further into the masses. This widespread growth requires a regular and sure supply of medical gases, hence upgrading the market.
Growth of the Medical Devices Sector
The Indian medical device industry has been on a steady growth path, contributing to the rising demand for medical gases. Medical devices like ventilators, anesthesia machines, and diagnostic equipment usually need medical gases to function. With the escalating production and use of such devices, medical gas consumption grows proportionally. Initiatives by the Indian government toward the development of local production of medical devices have been instrumental in driving this expansion. The Production-Linked Incentive Scheme for medical devices provides monetary rewards on incremental sales, both for domestic and overseas players, to upgrade their India production capabilities. This policy has led to the utilization and availability of medical devices and thus boosted demand for related medical gases. In addition, the medical devices industry is estimated to grow to USD 50 billion by 2030 at a CAGR of 16.4%. The projected growth demonstrates an ongoing and escalating need for medical gases necessary for the operation of many medical devices. In summary, the development of healthcare infrastructure and the rise of the medical devices industry are two major positive drivers of the Indian medical gas market. The development of both industries results in higher medical gas consumption, indicating the overall development of India's healthcare system.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on gas type, application, and end user.
Gas Type Insights:
The report has provided a detailed breakup and analysis of the market based on the gas type. This includes pure gas (medical air, medical oxygen, nitrous oxide, nitrogen, carbon dioxide, and helium) and gas mixtures (aerobic gas mixtures, anaerobic gas mixtures, blood gas mixtures, lung diffusion mixtures, medical laser mixtures, medical drug gas mixtures, and others).
Application Insights:
A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes therapeutic, diagnostic, biotechnology and pharmaceutical industry, and others.
End User Insights:
A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes hospitals, home healthcare, and academic and research institutions.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Gas Types Covered |
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Applicaions Covered | Therapeutic, Diagnostic, Biotechnology and Pharmaceutical Industry, Others |
End Users Covered | Hospitals, Home Healthcare, Academic and Research Institutions |
Regions Covered | North India, South India, East India, West India |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: