Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Medical oxygen cylinders are stored in tempered steel containers that are used to keep oxygen at high pressure. Oxygen cylinders have wide application in medical or diagnostic purposes. It contains oxygen at high pressure or liquid form and is used at times of medical emergency. It is available in various sizes based on the usage. The oxygen must be in the purest form to the medical devices and the formation of the cylinders is the important step. This is non-reactive compressed O2 which is widely applicable for medical, therapeutic or diagnostic purposes.
The medical oxygen gas cylinders market has been seeing tremendous growth from the past few decades. The primary growth factors behind the market growth are rise in chronic medical illnesses and rising prevalence of COVID-19 cases across the globe. Likewise, optimal medical infrastructure utilization will boosts the market growth. As this medical oxygen gas also used in anesthesia and various surgical procedures will increases demand for oxygen gas cylinders in upcoming years. Nevertheless, stringent regulatory procedures and high costs of oxygen cylinders are the major restraining factor that could hamper the growth of the market.
The COVID 19 is severe acute respiratory syndrome that causes an infection to respiratory system and low oxygen saturation so demand for medical oxygen gas cylinder has increased. This pandemic has resulted in escalation of patients to emergency healthcare departments so this will impact the market in coming years. Due to rise in chronic diseases among all populations there will be increasing demand for oxygen gas cylinders which is the driving factor for market in the appraisement period. Hence, COVID 19 has positively affected the market growth.
The study analyses global Medical Oxygen Gas Cylinders market based on technology, product, end users and geography.
Based on the various technologies the medical oxygen gas cylinders market is segmented into Plus Flow and Continuous Flow. The continuous flow segment dominated the global market in 2020 and expected to maintain its dominance in forecast period. The factors responsible for the market growth are rising prevalence of chronic diseases like cardiovascular diseases, respiratory diseases, and gastrointestinal disorders.
The various products involve in medical oxygen gas cylinders market is classified into portable and fixed. The fixed segment accounted for the largest market share in 2020. The fixed medical oxygen gas cylinder are majorly used during surgical procedures in hospitals. Also demand for fixed oxygen gas cylinders has increased due to increasing cases of COVID-19.
Based on the end users the medical oxygen gas cylinders market is bifurcated into hospitals, home healthcare and others. The hospital segment dominated the market in 2020, and is anticipated to continue this trend during the forecast period owing to, technological advancements using portable oxygen cylinders for home care settings create huge opportunities for the market. As well as rise in chronic cases causes increasing trends towards use of oxygen gas cylinders will boosts growth of the market.
Geographically the global medical oxygen gas cylinders market is categorized in the following region North America, Europe, Asia-Pacific and Rest of the world. North America accounted for the largest share of the medical oxygen gas cylinders market in 2020 followed by Europe, Asia Pacific, Latin America and Middle East & Africa. In North America there is presence of highly developed healthcare systems, increase in prevalence of COVID-19 cases and surge in geriatric population in this region are responsible for the largest share of this market segment.
The major market key players include Koninklijke Philips N.V (Netherlands), Invacare Corporation (United States), Nidek Medical Products, Inc. (United States), Inogen, Inc (United States), Messe Düsseldorf GmbH (Germany), ResMed (United States), DeVilbiss Healthcare LLC (United States0, Airgas Inc (United States), Messer Group GmbH (Germany), OrientMEd International. (Dubai), TECNO-GAZ SpA (Italy), Allied Healthcare Products Inc (United States), Praxair Inc (United States), ROYAX (India), AirGenics Inc (United States), Air Products Inc (United States), Luxfer Gas Cylinders (United States), Cramer Decker Medical (United States)and Catalina Cylinders (United States).
October 2020: Luxfer Gas Cylinders launched its first Non-Limited Life (NLL) medical cylinders to support the healthcare industry.
September 2018: GCE introduced MediVitop, a new One-Knob Cylinder Valve with Integrated Pressure Regulator.
April 2018: Air Liquide acquired EOVE (France) to increase its presence in the home healthcare market. EOVE is a startup company specialized in the manufacturing of ventilators for home-based patients suffering from chronic respiratory failure.
March 2020: AirGenics the retest US second-generation company has started to convert inert gas cylinders into medical oxygen cylinders to meet the soaring demands for oxygen needed to treat coronavirus patients.
The study analyses global medical oxygen gas cylinders market based on technology, product, end users and geography. Medical oxygen gas cylinders consist of compressed oxygen gas used for medical purpose. The various products involve in oxygen gas cylinders are portable and fixed. The wide application of oxygen gas cylinders for the patients suffering from various diseases like asthma, cancer, etc. Technological advancements in the medical oxygen gas cylinders along with rising awareness towards use of oxygen cylinder are factors that are anticipated to fuel the medical oxygen gas cylinders market. The optimal medical infrastructure utilization is the major factors that driving market growth. Nevertheless, oxygen cylinders are needed for the rising demand of hospitals, home care setting hence it is expected to impede market growth over the forecast period 2021-2027. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific, Latin America, Middle East & Africa and Rest of the World.
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