PUNE, India, April 28, 2021 /PRNewswire/ -- Global demand for Medical Oxygen Gas Cylinder Market Size, in terms of revenue, was worth of USD 15.41 Billion in 2020 and is expected to reach USD 23.64 Billion in 2027, growing at a CAGR of 6.3% from 2020 to 2027. The global Medical Oxygen Gas Cylinder is expected to grow at a significant rate due to the number of driving factors.
Covid-19 has positively impacted the growth of global medical gas oxygen cylinder market. During Covid-19 pandemic, the rising number of COVID-19 cases has essentially accelerated the demand for medical oxygen gas cylinders for intensive care. The requirement for oxygen has expanded to 1.1 million cylinders in low to center pay countries alone due to increasing number of COVID-19 patients. Number of countries are embraced pre-emptive measures to guarantee a satisfactory supply of oxygen to treat COVID-19 patients. For example, in March 2020, Tenaris' Dalmine consistent plant in Italy announced that it requested 4,300 clinical evaluation oxygen gas cylinders as the Lombardy area of the nation was seriously influenced by the effect of COVID-19. These elements are positively impacting the development of the global medical oxygen gas cylinder market.
Some major key players for global medical gas oxygen cylinder market report cover prominent players Nidek Medical Products, Inc., Catalina Cylinders, ResMed, Inogen, Inc., Airgas Inc, Koninklijke Philips N.V., Messe Düsseldorf GmbH, ROYAX, Cramer Decker Medical, AirGenics Inc, Bright Medi- Weld Appliances, Invacare Corporation, DeVilbiss Healthcare LLC, Allied Healthcare Products Inc, Messer Group GmbH, Praxair Inc., Air Products Inc, Luxfer Gas Cylinders, OrientMEd International, AirGenics Inc, TECNO-GAZ SpA, and others.
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Medical Oxygen Gas Cylinder Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. Increasing product offerings for medical oxygen system for homecare settings and hospitals, and growing prevalence of chronic diseases and rising Covid-19 cases are some of the major factors driving the growth of Global Medical Oxygen Gas Cylinder Market.
Medical oxygen gas cylinders are regularly needed by medical care staff for therapy and diagnostic purposes. Medical oxygen gas systems, for example, oxygen concentrators and compressed oxygen gas cylinders are significantly utilized in homecare settings, and are generally preferred by old patients who experience issues in mobility, and rely upon a reliable oxygen supply. Some basic chronic medical conditions like chronic obstructive pulmonary diseases (COPD), emphysema, chronic bronchitis, a typical long term impact of smoking require oxygen treatment or supplemental oxygen to get the enough oxygen. Different kinds of oxygen systems are utilized to conveyed the controlled measure of oxygen to the patients. Medical oxygen gas is high purity oxygen that is utilized for clinical treatments and is produced for use in the human body. Medical oxygen gas cylinders contain a high purity of oxygen gas; no different sorts of gases are permitted in the cylinder to prevent infections.
Increasing Product Offerings for Medical Oxygen System for Homecare Settings and Hospitals, Rising Number of the FDA Approvals for Medical Gas Equipments, Growing Prevalence of Chronic Diseases and Increasing Covid-19 Cases are Some of the Major Factors Driving the Market Growth
The major factors driving the growth of global medical gas oxygen cylinder market are increasing product launches for medical oxygen system for homecare settings and hospitals. The huge number of the hospitals and healthcare organizations are introducing centralized oxygen systems in medical clinics, to guarantee the huge measure of supply to the patients. Also, homecare setting segments is likewise contributing significantly to development of the market, attributable to launch of portable oxygen systems in the market. For example; in October 2017, Invacare Corporation launched the Invacare Platinum Mobile Oxygen Concentrator with new availability. Additionally, in January 2016, GCE Healthcare launched Zen-O portable oxygen concentrator (POC). It is lightweight oxygen treatment device that weighs 4.66kg (10lbs) and simple to carry around. In addition, increasing number of FDA approvals for medical gas equipments is also fostering the market growth. The Food and Drug Administration (FDA) is proposing to change its current good manufacturing practice (CGMP) guidelines to incorporate new requirements for the color, label, design and dedication of medical oxygen gas compartments and closures. These necessities are proposed to make the substance of medical oxygen gas cylinders more promptly recognizable, reduce the probability that containers of industrial or different gases would be improperly associated with medical oxygen supply systems, and reduce the threat of pollution of medical gases.
Furthermore, rising prevalence of Covid-19 cases worldwide and growing cases of chronic diseases are also supplementing the market growth. Optimal medical infrastructure utilization became a high priority for Governments worldwide during the COVID-19 pandemic. Special attention is drawn to both the import and local manufacture of medical oxygen gas to ensure its uninterrupted supply to designated COVID-hospitals identified by the local administration. For example; as per Worldometer; As of April 27th, 2021; there are 19,172,322 active cases of Covid-19 globally. Oxygen gas cylinders are required for the increasing demand from medical clinics, home care settings and many others. Medical oxygen gas cylinders are available in various sizes relying on the requirement. In Hospitals, oxygen gas treatment is executed on the patients for the therapy of chronic health issue to improve energy levels, rest and a superior quality life of patients. Oxygen is generally utilized in medical clinics for the therapy of various intense and chronic diseases. Theses clinical oxygen chambers are generally utilized in the ambulance to manage emergency circumstances. The medical oxygen gas cylinders have huge need for the patients facing different infections like asthma, disease, etc.
However, high cost of oxygen gas cylinders may hamper the market growth. In spite of that, rising investments in the healthcare and the increasing technological development in the medical oxygen gas cylinders market can offer more opportunities for the further growth in forecast period.
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Global medical gas oxygen cylinder market is segmented on the basis of product, technology, end-user, size, cylinder type, application and region & country level. Based upon product, medical gas oxygen cylinder market is classified into portable oxygen concentrator and cylinders, stationary oxygen concentrator and cylinders and oxygen concentrator and cylinders. Based on technology, the market is classified into continuous flow and pulse flow. Based on the end-user, the medical gas oxygen cylinder market is classified into home-care and non home-care. Based on size, the market is classified into 10L, 40L, 50L and 100L. Based upon cylinder type, medical gas oxygen cylinder market is classified into fixed and portable. Based upon application, the market is divided into operating room, emergency room, respiratory department and household.
News: Non-Limited Life Medical Cylinder Launched by Luxfer, as COVID-19 Increases Demand for Solutions to Help Millions with Respiratory Conditions
On October 16th, 2020; Luxfer Gas Cylinders launched its first Non-Limited Life (NLL) medical cylinders to support the healthcare industry. Coronavirus prompts the advancement of new innovations to assist in oxygen treatment for the large numbers with respiratory-related disease. The new cylinder from Luxfer used to help patients influenced by conditions that make breathing difficult, including COVID 19. Additionally Chronic Obstructive Pulmonary Disease (COPD), which influences 65 million individuals universally and results in more than 3 million deaths worldwide every year. The new Luxfer 1.0 liter NLL carbon composite clinical cylinder is its first item offering with a life expectancy past the common 15-year and 20-year oxygen cylinder contributions accessible today. Currently, the product is bound for medical organizations and it will go under the control of medical services experts who can help patients who need oxygen treatment progressing.
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North America is Expected to Dominate the Global Medical Gas Oxygen Cylinder Market
North America is expected to dominate the global medical gas oxygen cylinder market owing to the increasing COVID-19 cases, rising prevalence of chronic diseases and shift of population with breathing issues in this region. For example; as per World Health Organization (WHO), about 251 million individuals created chronic obstructive pulmonary diseases (COPD) in 2016. North America is required to observe worthwhile development in the worldwide clinical oxygen framework market, attributable to presence of key manufacturer's for medical oxygen gas systems and rising product launches in this region. For example; the manufacturers like Imogen, Invacare Corporation, CAIRE, Inc., and O2 Concepts, LLC, that offer creative oxygen concentrators, have high presence in the U.S. market.
In Asia Pacific, the medical oxygen gas cylinder market is expected to display the fastest growth during the forecast period. In India, medical oxygen gas market is projected to grow predominantly on account of rising cases of fatal and chronic diseases, government initiatives of raising funds, and spread of COVID-19 pandemic in this region.
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