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Oxygen Cylinders and Concentrators Market 2020 growth factors, latest trend and regional analysis of leading players by 2025

Author : Ronak Bora | Published Date : 2020-09-17 

Oxygen Cylinders and Concentrators Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Medical oxygen cylinders and concentrators play a very crucial role to combat severe respiratory disorders and lunge diseases. Increased pollution levels owing to extensive manufacturing and industrial processes, and air pollution from rising number of vehicles are some major factors leading to large number of populations being affected from respiratory and lung disorders.

Rising geriatric population base poses high risk of acquiring respiratory disorders such as asthma, pulmonary and COPD due to exposure of dust, smoke particles produced from various industrial and manufacturing processes. It also results from habits of tobacco smoking. Increased demand for oxygen support for patients suffering from covid-19 disease may have considerably triggered the deployment of oxygen cylinders.

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Trending adventure sports such as mountaineering and scuba diving that require constant oxygen supply will further escalate the product requirements. Reportedly, global oxygen cylinders and concentrators market is expected to surpass US$5 billion by 2025.

Portable oxygen cylinders have gained considerable recognition over the years owing to their mobility and convenience. In the year 2018, the product was responsible for nearly 53% of the total market share and will continue to dominate the industry due to the growing need for reliable, efficient and handy medical equipment that are upgraded.

Moreover, the high adoption rate of oxygen cylinders in various domains with the prevalence of hypoxemia, chronic lung diseases, pulmonary fibrosis, for oxygen therapies, coronary occlusion, and severe hemorrhage are some of the main factors driving the business growth over the years.

With respect to the application spectrum, healthcare has accounted for a major stake in the industry for the past few years. During the year 2018, healthcare was responsible for 47.1% of the revenue share and has continued to witness robust gains due to the rise in hospital admissions with highly prevalent chronic diseases and patients requiring oxygen cylinders.

The manufacturing application segment has also registered a significant demand for oxygen cylinders in various industries. Various petrochemical intermediaries are presently being manufactured with the help of high-purity oxygen like propylene oxide, ethylene, caprolactam, and vinyl chloride. 

Concerning regional expanse, North America oxygen cylinders and concentrate market has emerged as a key revenue pocket over the years due to the developed healthcare sector in the region. During the year 2018, North America accounted for 34.7% of the total market share.

A large number of hospitals in the region are equipped with new, smart oxygen delivery solutions in the U.S. As of 2018, there were a total of 6,146 hospitals across the U.S. There is improved disposable income among people in the region, and the availability of financial benefits like health insurance, cashless payments, and others.

The prevailing coronavirus pandemic has intensified the demand for oxygen cylinders and concentrates as the lethal virus targets the respiratory system causing breathlessness and reduction in oxygen levels of the patient. Considering the situation in emerging countries like India, oxygen cylinders and concentrators have witnessed a robust demand as the total number of COVID cases continue to witness a spike.

According to statistics, approximately 5 lakh oxygen cylinders were in use in July 2020 across India. Witnessing the extensive demand for oxygen cylinders, the Government of India has directed the conversion of nearly 5 lakh industrial oxygen cylinders for healthcare use. Some of the leading oxygen cylinders and concentrators manufacturers include Inova Labs, O2 Concepts, Teijin, Philips Respironics, and Invacare, among numerous others. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/oxygen-cylinders-and-concentrators-market

Partial Chapter of the Table of Content 

Chapter 4.     Oxygen Cylinders and Concentrators Market, By Product

4.1. Key segment trends, by product

4.2. Portable

4.2.1. Market estimates and forecast, by region, 2014 - 2025 (USD Million)

4.3. Fixed

4.3.1.  Market estimates and forecast, by region, 2014 - 2025 (USD Million)

Chapter 5.     Oxygen Cylinders and Concentrators Market, By Application

5.1. Key segment trends, by application

5.2. Healthcare

5.2.1. Market estimates and forecast, by region, 2014 - 2025 (USD Million)

5.3. Pharmaceutical & Biotechnology

5.3.1.  Market estimates and forecast, by region, 2014 - 2025 (USD Million)

5.4. Manufacturing

5.4.1.  Market estimates and forecast, by region, 2014 - 2025 (USD Million)

5.5. Aerospace & Automotive

5.5.1.  Market estimates and forecast, by region, 2014 - 2025 (USD Million)

5.6. Others

5.6.1.  Market estimates and forecast, by region, 2014 - 2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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