Global Medical Oxygen Concentrators and Oxygen Cylinders Market, By Product (Portable Oxygen Concentrator Cylinders and Stationary Oxygen Concentrator Cylinders), Technology (Continuous Flow and Pulse Flow), End Use (Home Care and Non Home Care) – Industry Trends and Forecast to 2030.
Medical Oxygen Concentrators and Oxygen Cylinders Market Analysis and Size
The rising incidence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and COVID-19 has created a higher demand for oxygen therapy. Medical oxygen concentrators and cylinders are essential in delivering oxygen to patients with these conditions, driving the market growth. As the global population ages, there is a higher prevalence of conditions that require oxygen therapy. Older individuals are more likely to suffer from respiratory illnesses, and this demographic shift has contributed to the growing demand for oxygen concentrators and cylinders and will ensure the growth of the global medical oxygen concentrators and oxygen cylinders market.
Data Bridge Market Research analyses that the global medical oxygen concentrators and oxygen cylinders market which was USD 3,400.00 million in 2022, expected to reach USD 5,337.82 million by 2030, and is expected to undergo a CAGR of 5.8% during the forecast period 2023-2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Medical Oxygen Concentrators and Oxygen Cylinders Market Scope and Segmentation
Report Metric |
Details |
Forecast Period |
2023 to 2030 |
Base Year |
2022 |
Historic Years |
2021 (Customizable to 2015-2020) |
Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
Segments Covered |
Product (Portable Oxygen Concentrator Cylinders and Stationary Oxygen Concentrator Cylinders), Technology (Continuous Flow and Pulse Flow), End Use (Home Care and Non Home Care) |
Countries Covered |
U.S., Canada, Mexico, Peru, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E., Kuwait, Israel, Egypt, and Rest of Middle East and Africa |
Market Players Covered |
Medical Depot, Inc. (Canada), Koninklijke Philips N.V. (Netherlands), Invacare Corporation (U.S.), NIDEK MEDICAL INDIA (India), Inogen Inc. (U.S.), CAIRE Inc. (U.S.), O2 CONCEPTS LLC (U.S.), OxyGo,LLC (U.S.), Precision Medical, Inc. (U.S.), Linde plc (Ireland), Chart Industries (U.S.), GCE Group (Sweden), Drive DeVilbiss Healthcare (U.S.), Airgas Inc (U.S.), Messer SE & Co. KGaA (Germany), OrientMEd International (UAE), TECNO-GAZ SpA (Italy) |
Market Opportunities |
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Market Definition
The tempered steel canisters used to preserve oxygen at high pressure are known as medical oxygen cylinders. The majority of oxygen cylinders are utilized for medicinal or diagnostic purposes. It contains high-pressure oxygen or oxygen in liquid form and is utilized in medical emergencies. Oxygen cylinders are also available in a variety of sizes, depending on their intended use.
An oxygen concentrator is a medical device that is used to deliver a high concentration of oxygen to individuals who have low blood oxygen levels, a condition known as hypoxemia. It is a portable and efficient alternative to traditional oxygen tanks or cylinders. Oxygen concentrators work by extracting oxygen from the ambient air, concentrating it, and delivering it to the patient through a nasal cannula or mask. An oxygen concentrator is a medical device that is used to deliver a high concentration of oxygen to individuals who have low blood oxygen levels, a condition known as hypoxemia. It is a portable and efficient alternative to traditional oxygen tanks or cylinders.
Global Medical Oxygen Concentrators and Oxygen Cylinders Market Dynamics
Drivers
- Increased Public Awareness of Personal Healthcare
The primary factor driving the global medical oxygen concentrators and oxygen cylinders market is the provision of oxygen in its purest form to medical equipment and the construction of cylinders. The key possibility for expanding the global medical oxygen concentrators and oxygen cylinders market is increased breathing problems due to diseases and increased public awareness of personal healthcare. Oxygen cylinders do not require batteries, which is another benefit for the market's growth.
- Growth in out-of-pocket Spending in the Healthcare Sector
In 2020, according to the WHO study the government health spending and out-of-pocket spending (OOPS) per capita have increased dramatically in several nations around the world during the previous decade. The rise in out-of-pocket spending indicates that a patient's out-of-pocket expenses are rising, and that medical insurance plays no part in assisting them financially. Out-of-pocket spending has accounted for over one-third of total health spending in all nations, excluding high-income countries, due to the presence of insurance firms and free healthcare. Increased OOPS spending has directly impacted the demand for oxygen concentrators in low and middle-income countries, with severe pollution levels. As a result of the increased demand, the market has grown.
Opportunity
- Rising Prevalence of Respiratory Disorders around the World
Medical oxygen concentrators have become more popular as the prevalence of respiratory disorders has increased. Chronic obstructive pulmonary disease (COPD) is a well-known respiratory disease in which the airflow channels in the lungs narrow, reducing the amount of oxygen delivered to the body's circulating blood. For such patients, an oxygen concentrator is a life-saving medical device because it is more portable and easier to use than other oxygen devices on the market, making it more beneficial in such situations. These are some of the elements that are propelling the market forward.
Restraint/Challenge
- Regulatory Challenges and other Problems
The production and distribution of medical oxygen equipment are subject to strict regulations and standards to ensure patient safety. Meeting these regulatory requirements can be time-consuming and costly, which may limit market growth for smaller manufacturers.
This global medical oxygen concentrators and oxygen cylinders market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global medical oxygen concentrators and oxygen cylinders market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In January, 2021, CAIRE Inc. announced the release of the SAROSTM 4000 Oxygen System, specifically intended for military application. The new version of CE-marked SAROS is built in accordance with the most up-to-date medical device standards for the European region and includes CAIRE's autoSAT technology, which allows the patient's respiratory rate to be changed to maintain oxygen levels
- In April 2021, Exalta, a renewable energy business, has announced the launch of small oxygen concentrators to help India's oxygen crisis. The final product is a portable oxygen concentrator that produces oxygen using water and electrolysis
Global Medical Oxygen Concentrators and Oxygen Cylinders Market Scope
The global medical oxygen concentrators and oxygen cylinders market is segmented on the basis of product, technology and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Portable Oxygen Concentrator Cylinders
- Stationary Oxygen Concentrator Cylinders
Technology
- Continuous Flow
- Pulse Flow
End User
- Home Care
- Non Home Care
Global Medical Oxygen Concentrators and Oxygen Cylinders Market Regional Analysis/Insights
The global medical oxygen concentrators and oxygen cylinders market is analysed and market size insights and trends are provided by country, product, technology, and end user as referenced above.
The countries covered in the global medical oxygen concentrators and oxygen cylinders market report are U.S., Canada, Mexico, Peru, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E., Kuwait, Israel, Egypt, and Rest of Middle East and Africa
North America dominates the global medical oxygen concentrators and oxygen cylinders market due to the strong base of healthcare facilities, the strong presence of major players in the market, the extraordinary healthcare infrastructure, and the large pool of people having chronic disases.
Asia-Pacific is expected to witness significant growth in the global medical oxygen concentrators and oxygen cylinders market during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote healthcare, the rising health awareness among the people and growing demand for advanced medical technology for chronic diaseses, the large population pool, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The global medical oxygen concentrators and oxygen cylinders market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the global medical oxygen concentrators and oxygen cylinders market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on global the global medical oxygen concentrators and oxygen cylinders market. The data is available for historic period 2015-2020.
Competitive Landscape and Global Medical Oxygen Concentrators and Oxygen Cylinders Market Share Analysis
The global medical oxygen concentrators and oxygen cylinders market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global medical oxygen concentrators and oxygen cylinders market.
Some of the major players operating in the global medical oxygen concentrators and oxygen cylinders market are:
- Medical Depot, Inc. (Canada)
- Koninklijke Philips N.V. (Netherlands)
- Invacare Corporation (U.S.)
- NIDEK MEDICAL INDIA (India)
- Inogen Inc. (U.S.)
- CAIRE Inc. (U.S.)
- O2 CONCEPTS LLC (U.S.)
- OxyGo,LLC (U.S.)
- Precision Medical, Inc. (U.S.)
- Linde plc (Ireland)
- Chart Industries (U.S.)
- GCE Group (Sweden)
- Drive DeVilbiss Healthcare (U.S.)
- Airgas Inc (U.S.)
- Messer SE & Co. KGaA (Germany)
- OrientMEd International (UAE)
- TECNO-GAZ SpA (Italy)
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