The global medical oxygen cylinders market size is expected to reach USD 5.9 billion by 2030. The market is expected to expand at a revenue-based CAGR of 4.9% from 2022 to 2030. The increasing burden of chronic respiratory diseases, rapid industrialization, and growing geriatric population across the globe are the primary factors driving the growth of the global market.
In terms of product, the portable cylinders segment had the largest market share of 58.4% in 2021. The rising geriatric population in need of critical care and oxygen supplementation has been a key factor driving the growth of this product type. This has also been recorded as the fastest growing sub-segment due to increasing prevalence of chronic diseases and the need for respiratory support by patients outside medical facilities.
Based on the application, the market for medical oxygen cylinders for non-home care accounted for the largest revenue share in 2021, owing to initiatives by governments to boost the capacity of hospitals and clinics to meet hospitalization demands during COVID-19. An increase in the number of CRD patients in need of respiratory support has driven the growth of medical oxygen cylinders industry.
The home-care segment is poised to show the fastest growth in the coming years, owing to elderly patients preferring oxygen support in the comfort of their homes, who do not require additional medical support. Patients with respiratory diseases are preferring at-home support in fear of contracting additional infections during the COVID-19 pandemic.
The continuous flow technology segment had the largest market share in 2021, owing to the population of severely dependent patients being on a rise during COVID. Furthermore, the increasing burden of chronic diseases in the geriatric population has led them to use this technology more often than pulse technology due to high oxygen demand. The fastest-growing segment is pulse flow, due to its benefits over continuous flow. The increase in the number of active patients with respiratory diseases in recent years has resulted in the growth of the segment.
The APAC region had the largest market share owing to its huge population and larger burden of respiratory diseases. The region was severely affected during the pandemic, and thus had the largest demand for medical oxygen cylinders. Europe was the fastest-growing region in this regard; according to Eurostat, the region has more than 20% of its population over 65 years of age, which has inadvertently increased the number of patients suffering from chronic conditions. This has been a key driver for growth in this market.
The COVID-19 pandemic had a positive impact on the market, with a registered growth of more than 84% from 2019 to 2021. The pandemic created a massive need for medical oxygen across the globe, especially in low- and middle-income countries. The virus caused severe lung infections and other respiratory symptoms, creating a huge market for medical oxygen. Governments shifted their industrial capacity to medical capacity to meet this growing demand for medical oxygen. In developing countries, more than 1.1 million cylinders were estimated to be needed on a day-to-day basis. Thus, the pandemic has been a key propellant for the growth of the market.
In terms of product, the portable cylinders segment had the largest market share of 58.4% in 2021. The rising geriatric population in need of critical care and oxygen supplementation has been a key factor driving the growth of this product type. This has also been recorded as the fastest growing sub-segment due to increasing prevalence of chronic diseases and the need for respiratory support by patients outside medical facilities.
Based on the application, the market for medical oxygen cylinders for non-home care accounted for the largest revenue share in 2021, owing to initiatives by governments to boost the capacity of hospitals and clinics to meet hospitalization demands during COVID-19. An increase in the number of CRD patients in need of respiratory support has driven the growth of medical oxygen cylinders industry.
The home-care segment is poised to show the fastest growth in the coming years, owing to elderly patients preferring oxygen support in the comfort of their homes, who do not require additional medical support. Patients with respiratory diseases are preferring at-home support in fear of contracting additional infections during the COVID-19 pandemic.
The continuous flow technology segment had the largest market share in 2021, owing to the population of severely dependent patients being on a rise during COVID. Furthermore, the increasing burden of chronic diseases in the geriatric population has led them to use this technology more often than pulse technology due to high oxygen demand. The fastest-growing segment is pulse flow, due to its benefits over continuous flow. The increase in the number of active patients with respiratory diseases in recent years has resulted in the growth of the segment.
The APAC region had the largest market share owing to its huge population and larger burden of respiratory diseases. The region was severely affected during the pandemic, and thus had the largest demand for medical oxygen cylinders. Europe was the fastest-growing region in this regard; according to Eurostat, the region has more than 20% of its population over 65 years of age, which has inadvertently increased the number of patients suffering from chronic conditions. This has been a key driver for growth in this market.
The COVID-19 pandemic had a positive impact on the market, with a registered growth of more than 84% from 2019 to 2021. The pandemic created a massive need for medical oxygen across the globe, especially in low- and middle-income countries. The virus caused severe lung infections and other respiratory symptoms, creating a huge market for medical oxygen. Governments shifted their industrial capacity to medical capacity to meet this growing demand for medical oxygen. In developing countries, more than 1.1 million cylinders were estimated to be needed on a day-to-day basis. Thus, the pandemic has been a key propellant for the growth of the market.
Medical Oxygen Cylinders Market Report Highlights
- In terms of product, the portable cylinders segment accounted for the largest share of 58.4% in 2021, due to the rapid increase in the geriatric population.
- The non-home care application segment had the largest revenue share in 2021, due to an increase in the rate of hospitalizations during the COVID-19 outbreak.
- The pulse flow technology segment is poised to witness the fastest growth, due to its benefits over continuous flow technology for active patients.
- APAC region witnessed the highest consumption of medical oxygen cylinders, due to the rapidly growing regional population and high disease burden.
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Global Medical Oxygen Cylinders Market Variables, Trends, & Scope
Chapter 4. Global Medical Oxygen Cylinders Market: Competitive Analysis
Chapter 5. Global Medical Oxygen Cylinders Market: Product Type Estimates & Trend Analysis
Chapter 6. Global Medical Oxygen Cylinders Market: Application Estimates & Trend Analysis
Chapter 7. Global Medical Oxygen Cylinders Market: Technology Estimates & Trend Analysis
Chapter 8. Global Medical Oxygen Cylinders Market: Regional Estimates & Trend Analysis, by Product Type, Application and Technology
Chapter 9. Competitive Landscape
Companies Mentioned
- Invacare Corporation
- Koninklijke Philips N.V.
- Drive Devilbiss Healthcare, Inc.
- Caire Inc.
- Inogen, Inc.
- O2 Concepts LLC.
- Nidek Medical Products, Inc.
- Resmed
- Oxygo, LLC
- Precision Medical, Inc.
- Gce Group
- Linde plc
- Cramer Decker Medical, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | April 2022 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 4 Billion |
| Forecasted Market Value ( USD | $ 5.9 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
