Report ID: PMRREP34650
Report Type: Ongoing
Format: PPT*, PDF, EXCEL
Industry: Healthcare
The medical oxygen cylinders market is estimated to reach a valuation of US$6 billion by the year 2031, at a CAGR of 5%, during the forecast period 2024 to 2031.
Key Highlights of the Market
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Attributes |
Key Insights |
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Market Value (2024) |
US$4.8 Bn |
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Market Size (2031) |
US$6 Bn |
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Forecast Growth Rate (CAGR 2024 to 2031) |
5% |
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Historical Growth Rate (CAGR 2019 to 2023) |
4.4% |
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The rising incidence of chronic respiratory disorders and the profound influence of the COVID-19 pandemic have been significant drivers of the global market expansion.
The rapid industrialization has had a negative impact on the overall quality of the air we breathe, which is why the need for oxygen cylinders has bolstered over the recent times. The rapid development and increased pollution have led to a high air quality index (AQI), resulting in a rise in the occurrence of respiratory ailments.
Individuals afflicted with chronic respiratory diseases (CRDs) such as COPD necessitate the administration of supplemental oxygen to alleviate breathing difficulties, thereby significantly improving their quality of life. CRDs are the result of exposure to pollutants, tobacco smoke, occupational toxins, and dust, among other factors.
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Get a Customized VersionThe medical oxygen cylinders market has exhibited a steady growth rate of 4.4% during the historical period from 2019 to 2023. Growing healthcare expenditure, better medical facilities, and rapid technological advancements have helped increase the medical oxygen cylinders market demand.
Elderly people have less pulmonary reserve and reduced cough strength due to anatomic changes and muscle loss. Hence, they are at a high risk of developing lung disorders and various breathing problems, which has further led to increased demand for medical oxygen systems over the last few years.
Demand for medical oxygen systems has been directly impacted by the COVID-19 outbreak, which is a result of a significant shortage of medical ventilators demand globally.
To overcome this shortage, biomedical engineers and scientists have developed makeshift devices to mimic the basic functionality of ventilators using existing devices such as oxygen concentrators, anaesthesia machines, and manual resuscitators.
Furthermore, the US FDA has allowed the usage of these oxygen concentrators under the Emergency Use Authorization scheme, which will significantly increase demand for medical oxygen systems over the coming quarters.
As most of the critical cases of Covid-19 require some form of artificial ventilation, demand for wall-mounted oxygen concentrators, and piped/canned oxygen is witnessing a significant rise.
Increasing Prevalence of Respiratory Diseases
The rising incidence of respiratory conditions such as chronic obstructive pulmonary disease (COPD), asthma, and pneumonia is a major driver for the market.
These diseases necessitate the continuous administration of oxygen therapy to improve respiratory function and alleviate symptoms. As the global population ages and lifestyles change, the prevalence of respiratory ailments is expected to increase, thereby boosting demand for medical oxygen cylinders market share.
Growing Demand for Emergency Medical Services
Medical oxygen cylinders play a crucial role in emergency medical services (EMS), providing life-saving oxygen therapy to patients during critical situations such as cardiac arrest, trauma injuries, and respiratory distress.
The expanding network of ambulance services and emergency response units globally is driving the demand for portable and reliable oxygen delivery systems.
Moreover, advancements in EMS infrastructure and protocols are enhancing access to timely medical interventions, further fuelling the medical oxygen cylinders market growth.
Technological Advancements in Cylinder Design and Materials
Innovations in medical oxygen cylinder technology are enhancing safety, efficiency, and usability for healthcare providers and patients alike.
Manufacturers are developing lightweight cylinders made from durable materials such as aluminium and composite alloys, which offer improved portability without compromising oxygen storage capacity.
Additionally, integrated valve systems, digital pressure gauges, and ergonomic designs contribute to easier handling and monitoring of oxygen delivery, supporting clinical efficiency and patient comfort.
Regulatory Compliance and Safety Standards
Regulatory compliance and adherence to stringent safety standards represent significant challenges for medical oxygen cylinders manufacturers and distributors in the global market. Governments worldwide impose strict regulations on the production, storage, transportation, and usage of medical gases, including oxygen.
These regulations aim to ensure patient safety, prevent accidents, and mitigate the risks associated with handling compressed gases. Medical oxygen cylinders contain compressed gas under high pressure, posing inherent safety risks if mishandled or improperly stored.
Accidents such as leaks, ruptures, or improper valve operation can result in injuries to healthcare professionals, patients, and bystanders.
Ensuring proper personnel training, implementing robust safety protocols, and investing in safety-enhancing technologies are essential to mitigate risks and maintain compliance with safety standards.
High Initial Investment and Operational Costs
Establishing manufacturing facilities, acquiring raw materials, and investing in specialized equipment for medical oxygen cylinder production requires substantial capital investment.
Manufacturers must also allocate resources for ongoing maintenance, quality assurance, and compliance with evolving regulatory requirements, contributing to higher operational costs.
Healthcare providers, particularly in public healthcare systems and low-resource settings, are often constrained by budget limitations and cost-containment measures.
The price sensitivity of medical oxygen cylinders and related equipment can influence purchasing decisions, leading to negotiations for competitive pricing and potential margin pressures for manufacturers and distributors.
Technological Advancements in Cylinder Design and Materials
Future opportunities in the market lie in technological innovations aimed at enhancing safety, efficiency, and usability.
Major medical oxygen cylinders market companies are investing in research and development (R&D) to develop lightweight cylinders made from advanced materials such as composite alloys, titanium, or carbon fibre.
These materials offer benefits such as reduced weight for improved portability, increased durability, and corrosion resistance, addressing key challenges faced by healthcare providers in oxygen cylinder handling and transporting.
Rising Demand for Home Healthcare Services
The shift towards home healthcare services presents significant medical oxygen cylinders market opportunities.
As healthcare systems globally strive to reduce hospital admissions and healthcare costs, there is increasing adoption of home oxygen therapy for patients with chronic respiratory conditions (e.g., COPD, cystic fibrosis).
Industry participants can cater to this growing market by offering portable oxygen cylinders that are lightweight, user-friendly, and equipped with long-lasting oxygen supply capabilities suitable for home use.
Fixed Cylinders Account for 58% Market Share
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Market Segment by Product Type |
Market Value Share 2023 |
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Fixed |
58% |
Based on product type, the global medical oxygen cylinders market is further segmented into fixed and portable, where the fixed type of product dominates the market.
The said market share can be attributed to the increase in demand for medical oxygen cylinders during the pandemic and the rising geriatric population in need of at-home care.
Portable medical oxygen cylinders were in high demand due to at-home treatments being done during the pandemic, in light of the limited hospitalization capacities of hospitals.
The portable medical oxygen cylinder segment is anticipated to grow at the fastest rate of 4.7%. The increase in the prevalence of chronic respiratory diseases has created a surge in the demand for portable medical oxygen cylinders and has been a primary factor in the growth of this market segment.
The portable section has been in high demand due to its ease of use, and a majority of patients trying to avoid hospitalization to avert additional infections prefer this product.
Non Home-care Segment Leads the Way
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Market Segment by Application |
Market Value Share 2023 |
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Non Home-care |
60% |
Based on application, the medical oxygen cylinders market is further divided into home-care and non-home care, where the non-home care segment dominates the market share.
The non-home care segment's substantial market share was primarily due to the significant number of individuals who required oxygen supplementation during the pandemic.
The growth of this segment was also a consequence of the increase in the number of patients who were hospitalized. In response to the increasing demand, hospitals and clinics were motivated to expand their medical oxygen capacities, which in turn led to the expansion of this sector.
Further, it is anticipated that the home care segment will experience the most rapid growth, with a rate of 5.0%. The at-home care segment has experienced growth as a result of the dread that the pandemic has instilled in individuals, who have been hesitant to visit hospitals unless it is absolutely necessary.
Continuous Flow Technology Preferred, Accounts for 53% Market Share
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Market Segment by Technology |
Market Value Share 2023 |
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Continuous Flow |
53% |
Based on technology, the medical oxygen cylinders market is further divided into continuous flow and pulse flow, where the continuous flow segment dominates the market with a share of 53.8%.
During the pandemic, the demand for this technology type surged, which was a significant factor in its development, and has been beneficial for patients who require continuous support.
Continuous flow technology has been utilized by COPD patients, and the demand for this technology has increased as a result of the disease's increasing prevalence, which has led to segmental growth.
Another significant factor contributing to this expansion is the increasing number of immobility and geriatric patients who are incapable of engaging in physical activity.
Asia Pacific Retains the Prime Position with One-Third Market Share
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Region |
Market Value Share 2023 |
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Asia Pacific |
33% |
The global medical oxygen cylinders market is estimated to be dominated by the Asia Pacific region, with a share of around 33%. The demand for medical oxygen cylinders in the Asia Pacific region is attributable to the region's swiftly expanding population, the growing disease burden, and rapid urbanization.
The COVID-19 pandemic had a profound impact on the countries of Asia Pacific. A shortage of medical oxygen was the result of the outbreak, which was caused by a dearth of adequate medical facilities and infrastructure.
Consequently, governments were compelled to increase the supply of medical oxygen. The high prevalence of respiratory diseases and the growing geriatric population have also facilitated the market's expansion.
During the forecast period, Europe is anticipated to experience the most rapid growth. The primary factor contributing to the rise in the use of medical oxygen cylinders is the alarming rate of growth of the geriatric population. More than 20.6% of the EU population was aged 65 and older in 2022, according to Eurostat data.
The regional medical oxygen cylinders market has experienced development due to the heightened demand for supplementation, which is accompanied by the escalating prevalence of chronic diseases among the elderly.
April 2023 -
Praxair and Linde signed a merger and acquisition deal to expand their business into a new domain and have an impact on the medical oxygen cylinder market share.
March 2024 -
Air Liquide signed a partnership deal with a leading medical device manufacturer to develop a new and portable oxygen concentrator system.
The global medical oxygen cylinders market is highly competitive, with several leading medical oxygen cylinders companies providing better commercial opportunities to their end consumers while utilizing new and high-end technologies into the industry.
Major players in the oxygen cylinder industry are utilizing high-end technologies to cater to the growing oxygen needs of people all over the world.
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Attributes |
Details |
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Forecast Period |
2024 - 2031 |
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Historical Data Available for |
2019 - 2023 |
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Market Analysis |
US$ Billion for Value |
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Key Regions Covered |
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Key Companies Profiled |
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Pricing |
Available upon request |
By Product Type
By Application
By Technology
By Region
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The market is estimated to exhibit a CAGR of 5% during the forecast period.
Asia Pacific is the leading region in the market.
The medical oxygen cylinders market is segmented based on product type, application and technology.
Koninklijke Philips N.V., Invacare Corporation, Nidek Medical Products, Inc., Inogen, Inc., Messe Düsseldorf, GmbH, and ResMed are some of the major key companies in the market.
The fixed product type is the dominant product type segment.
