Market Size of Medical Oxygen Gas Cylinders Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 5.40 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Medical Oxygen Gas Cylinders Market Analysis
The medical oxygen gas cylinders market is expected to register a CAGR of 5.4% during the forecast period.
The COVID-19 pandemic led to increased demand for medical oxygen gas cylinders as COVID-19-affected people experienced oxygen deficiency and breathing difficulties. So, oxygen cylinders and concentrators supported patients in normal breathing. High-flow nasal oxygen was considered an efficient and safe treatment for COVID-19 patients. According to the WHO February 2021 update, during the initial phases of the pandemic, more than half a million COVID-19 patients in low and middle-income countries required 1.1 million cylinders of oxygen per day. The supply of medical oxygen gas cylinders became a high priority for governments during the pandemic. Several countries, such as India, Brazil, and Jordan, reported oxygen shortages during the peak of the pandemic.
Furthermore, as per the article published in NLM in January 2022, medical oxygen became a critical lifesaving resource during the COVID-19 pandemic. Hypoxemia triggered by COVID-19 pneumonia was a potentially fatal complication that required oxygen supplementation to manage. During the second wave of COVID-19 in India, oxygen demand increased, resulting in an oxygen crisis. However, market growth is expected to slow down with the decreasing need for medical oxygen in the post-pandemic scenario.
The medical oxygen market is anticipated to grow during the forecast period owing to the factors such as the rise in the prevalence of chronic respiratory diseases, like asthma, chronic obstructive pulmonary disease (COPD), lung cancer, cystic fibrosis, sleep apnoea and occupational lung diseases, the availability of technologically advanced products, and an increase in the geriatric population. Medical oxygen gas cylinders are majorly used in the hospital ICU unit and home care settings. They are used by geriatric people with respiratory diseases having mobility issues. Oxygen cylinders are also required in chronic bronchitis and obstructive pulmonary diseases.
For instance, according to the WHO 2022 update, asthma is a major noncommunicable disease (NCD) affecting children and adults. It is the most common chronic disease among children. In such a scenario, oxygen cylinders are utilized to stabilize patients, hence boosting market growth. Additionally, an increase in the geriatric population is one of the major factors for market growth. The geriatric population in homecare settings and ICU hospitals needs oxygen cylinders or ventilators as external support for breathing due to age-related difficulties or other comorbidities. Moreover, awareness regarding respiratory health drives market growth as the public and health can understand the importance of utilizing oxygen masks and cylinders in respiratory health.
For instance, WHO and FIRS designated '25th September 2022' as World Lung Day 2022 to raise global awareness and action toward better lung health.
Furthermore, technological advancements in the field of oxygen gas cylinders are one of the major driving factors for market growth. In July 2021, IIT Ropar developed an oxygen rationing device named 'AMLEX' that supplies a required volume of oxygen to the patient during inhalation and trips when the patient exhales CO2. This process saves oxygen which otherwise unnecessarily gets wasted. The device can operate on a portable power supply (battery) and a line supply (220V-50Hz). Furthermore, in February 2021, INOX-Air Products Inc. invested an amount of INR 2,000 (USD 243 million) crore in expanding the medical oxygen capacity of the company by 50%, with eight new air separation units across India over the next 36 months. It provides a critical boost to the medical infrastructure in India.
Hence, as per the factors mentioned above, the medical oxygen gas cylinder market is anticipated to witness growth during the forecast period. However, stringent regulatory scenarios are likely to restrain the market growth.
Medical Oxygen Gas Cylinders Industry Segmentation
As per the scope of the report, medical oxygen cylinders contain a high purity of oxygen gas used for medical purposes. The medical oxygen gas cylinders have major use for patients suffering from chronic obstructive pulmonary disease, asthma, cancer, etc. The key purpose of the medical oxygen cylinder is to maintain the supply of pure oxygen in the body.
The medical oxygen gas cylinders market is segmented by Product Type (Portable and Heavy), Product Size (Less than 10 liter, 10 liter - 50 liter, and More than 50 liter), End User (Hospitals, Home Healthcare, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value in USD million for the above segments.
By Product Type | |
Portable | |
Heavy |
By Product Size | |
Less than 10 liter | |
10 liter - 50 liter | |
More than 50 liter |
By End User | |
Hospital | |
Home Healthcare | |
Other End Users |
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Medical Oxygen Gas Cylinders Market Size Summary
The medical oxygen gas cylinders market is poised for growth, driven by the increasing prevalence of chronic respiratory diseases and the rising geriatric population. The demand for medical oxygen gas cylinders surged during the COVID-19 pandemic, as they became essential for managing oxygen deficiency in patients. This heightened awareness and reliance on oxygen supplementation has continued to influence market dynamics. The market is further bolstered by technological advancements, such as the development of devices that optimize oxygen usage, and the expansion of medical infrastructure in regions like India. Despite the post-pandemic slowdown, the market is expected to grow due to the ongoing need for oxygen in hospital ICUs, home care settings, and among patients with mobility issues or respiratory conditions.
The portable medical oxygen cylinders segment is anticipated to hold a significant share of the market, driven by their ease of use and mobility, making them ideal for geriatric patients and those requiring emergency oxygen supplies. North America is expected to maintain a substantial market share, supported by the high prevalence of respiratory conditions like asthma and chronic obstructive pulmonary disease. The region's market growth is further fueled by competitive dynamics, government initiatives, and collaborations aimed at enhancing oxygen supply capabilities. The market remains moderately competitive, with key players like Invacare Corporation and Medical Depot holding significant shares, and ongoing product launches and infrastructure developments contributing to the market's expansion.
Medical Oxygen Gas Cylinders Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rise in the Prevalence of Chronic Respiratory Diseases
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1.2.2 Availability of Technologically Advanced Products
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1.2.3 Increase in Geriatric Population
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Scenario
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product Type
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2.1.1 Portable
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2.1.2 Heavy
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2.2 By Product Size
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2.2.1 Less than 10 liter
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2.2.2 10 liter - 50 liter
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2.2.3 More than 50 liter
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2.3 By End User
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2.3.1 Hospital
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2.3.2 Home Healthcare
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2.3.3 Other End Users
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Medical Oxygen Gas Cylinders Market Size FAQs
What is the current Medical Oxygen Gas Cylinders Market size?
The Medical Oxygen Gas Cylinders Market is projected to register a CAGR of 5.40% during the forecast period (2024-2029)
Who are the key players in Medical Oxygen Gas Cylinders Market?
Invacare Corporation , Medical Depot , B.N.O.S. Meditech Ltd. , Catalina Cylinders and Desco Medical India are the major companies operating in the Medical Oxygen Gas Cylinders Market.