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.
An increase in the geriatric population is anticipated to drive the portable medical oxygen cylinders market during the forecast period. Bedridden geriatric patients are likely to use emergency oxygen supplies to experience stable breathing. For instance, as per the 'WPP 2022' report, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. In 2022, there are expected to be 771 million people aged 65 years or over globally. The older population is projected to reach 994 million by 2030 and 1.6 billion by 2050. Since portable medical oxygen cylinders are easy to handle and move, the geriatric population tends to adopt portable cylinders thereby boosting the market growth.
Furthermore, the presence of competitors, product launches, and collaboration in the field of portable oxygen cylinders are likely to boost market growth. These factors can increase the product's availability in the market along with greater competition, which is anticipated to impact the market positively.
For instance, in September 2022, Gangtok-based start-up O2 Himalaya is set to launch a portable oxygen canister that offers at least 350 puffs, acts as first aid care, and provides immediate relief to patients with breathing issues while trekking in the mountains. The product is likely to sell with the State Tourism Department, requiring parties involved in high-altitude trips to have oxygen in their vehicles. Additionally, long-term oxygen therapy (LTOT) is sometimes prescribed for patients with advanced lung cancer who are potential candidates for chemotherapy. In such instances, there is a high chance of adopting portable medical oxygen gas cylinders for lung cancer patients, thereby boosting the market growth over the forecast period.
Hence, considering the above-mentioned factors, portable medical oxygen gas cylinders are likely to witness growth in the forecast period.
According to the AAFA 2022 report, about 25 million people in the United States have asthma. Asthma relates to factors such as gender, race, ethnicity, and socioeconomic level, with the condition being more frequent in males than females in children. In maturity, the gender gap reverses, with more females than males suffering from asthma.
Furthermore, the presence of competitors, mergers, collaboration, and government initiatives in the region are fuelling the market growth. For instance, in April 2022, 4,055 pressure swing adsorption (PSA) plants were commissioned in India, including those under PM-CARES, to enhance the capacity of medical oxygen production and supply at the facility level. Furthermore, as per the April 2021 statistics by the AAFA, about 20 million adults aged 18 years or above in the United States have asthma. Thus, the prevalence of such disorders indicates a consistent demand for oxygen cylinders in the country. Thereby contributing to the growth of the market studied in the United States.
Moreover, as per the Asthma Canada 2021 report, across Canada, asthma affects the lives of more than 3.8 million Canadians and is the third most common chronic disease.
The above-mentioned statistics indicate that as the prevalence of Asthma increases, the demand for medical oxygen gas cylinders also increases. Thus, the North American region is expected to hold a significant share of the market in the forecast period.
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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 Market Trends
Portable Segment is Expected to Hold a Significant Share in the Market During the Forecast Period
Medical oxygen gas cylinders are portable with up to 10 liter of storage capacity and more than 10 liter of capacity. Portable medical oxygen gas cylinders are usually used in hospital emergency units, ambulances, and homes. Aluminum cylinders are easier to carry and are preferred during patient transfer due to their lightweight. The portable medical oxygen cylinder segment is expected to hold a major share because of its wide application and adoption. They are easy to move and can be easily employed in different settings compared to bigger cylinders. For instance, as per the ALA 2022 update, portable oxygen cylinders/concentrators are light and small, allowing supplemental oxygen while out of the home due to their ease of moving and handling efficiencies.An increase in the geriatric population is anticipated to drive the portable medical oxygen cylinders market during the forecast period. Bedridden geriatric patients are likely to use emergency oxygen supplies to experience stable breathing. For instance, as per the 'WPP 2022' report, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. In 2022, there are expected to be 771 million people aged 65 years or over globally. The older population is projected to reach 994 million by 2030 and 1.6 billion by 2050. Since portable medical oxygen cylinders are easy to handle and move, the geriatric population tends to adopt portable cylinders thereby boosting the market growth.
Furthermore, the presence of competitors, product launches, and collaboration in the field of portable oxygen cylinders are likely to boost market growth. These factors can increase the product's availability in the market along with greater competition, which is anticipated to impact the market positively.
For instance, in September 2022, Gangtok-based start-up O2 Himalaya is set to launch a portable oxygen canister that offers at least 350 puffs, acts as first aid care, and provides immediate relief to patients with breathing issues while trekking in the mountains. The product is likely to sell with the State Tourism Department, requiring parties involved in high-altitude trips to have oxygen in their vehicles. Additionally, long-term oxygen therapy (LTOT) is sometimes prescribed for patients with advanced lung cancer who are potential candidates for chemotherapy. In such instances, there is a high chance of adopting portable medical oxygen gas cylinders for lung cancer patients, thereby boosting the market growth over the forecast period.
Hence, considering the above-mentioned factors, portable medical oxygen gas cylinders are likely to witness growth in the forecast period.
North America is Expected to Hold a Significant Share in the Market During the Forecast Period
North America is anticipated to hold a significant market share in the medical oxygen gas cylinders market. It is expected to do the same during the forecast period due to the high adoption of medical oxygen gas cylinders. Oxygen cylinders are useful in chronic obstructive pulmonary disease, emphysema, and chronic bronchitis patient pool.According to the AAFA 2022 report, about 25 million people in the United States have asthma. Asthma relates to factors such as gender, race, ethnicity, and socioeconomic level, with the condition being more frequent in males than females in children. In maturity, the gender gap reverses, with more females than males suffering from asthma.
Furthermore, the presence of competitors, mergers, collaboration, and government initiatives in the region are fuelling the market growth. For instance, in April 2022, 4,055 pressure swing adsorption (PSA) plants were commissioned in India, including those under PM-CARES, to enhance the capacity of medical oxygen production and supply at the facility level. Furthermore, as per the April 2021 statistics by the AAFA, about 20 million adults aged 18 years or above in the United States have asthma. Thus, the prevalence of such disorders indicates a consistent demand for oxygen cylinders in the country. Thereby contributing to the growth of the market studied in the United States.
Moreover, as per the Asthma Canada 2021 report, across Canada, asthma affects the lives of more than 3.8 million Canadians and is the third most common chronic disease.
The above-mentioned statistics indicate that as the prevalence of Asthma increases, the demand for medical oxygen gas cylinders also increases. Thus, the North American region is expected to hold a significant share of the market in the forecast period.
Medical Oxygen Gas Cylinders Market Competitor Analysis
The medical oxygen gas cylinders market is moderately competitive, with several players around the globe. Companies like Invacare Corporation, Medical Depot, Me.Ber. SRL, B.N.O.S. Meditech Ltd, OrientMEd International, Royax, O2 CONCEPTS, Precision Medical Inc., Catalina Cylinders, and Luxfer Gas Cylinders, among others, hold a substantial market share in the market studied.Additional benefits of purchasing the report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Invacare Corporation
- Medical Depot
- Desco Medical India
- B.N.O.S. Meditech Ltd
- ProRack Gas Control Products
- Royax
- O2 CONCEPTS
- Precision Medical Inc.
- Catalina Cylinders
- Luxfer Gas Cylinders
Methodology
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