18-Jun-2021 | Zion Market Research
Some of key players in Medical Oxygen Gas Cylinders market are ROYAX, Airgas Inc, Atlas Copco, Praxair Inc., AirGenics, FARUM, Allied Healthcare Products, Air Products, TECNO-GAZ, and Attucho, among others.
According to analysts at Zion Market Research, the global Medical Oxygen Gas Cylinders market accounted for USD 14.90 Billion in 2020 and is expected to reach USD 25.75 Billion by 2028, growing at a CAGR of 6.8% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Medical Oxygen Gas Cylinders Market By Technology (Pulse Flow and Continuous Flow), By Application (Household, Respiratory Department, Operating Room, and Emergency Room), By Product (Portable and Fixed): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Massive Medical Oxygen Gas Cylinders Market to Spur Growth
The current Covid-19 pandemic condition is the key cause that is driving the growth of the global market. Further, factors such as the increased prevalence of COPD & lung illnesses, increase in healthcare expenditure, and growing demand for the medical oxygen gas cylinders for home care are fuelling the growth of the worldwide medical oxygen gas cylinders market.
The current Covid-19 pandemic situation, as well as the current Covid-19 pandemic catastrophe, is a major driving force behind the global market's expansion. A shortage of medical oxygen gas cylinders has arisen because to an increase in the number of Covid-19 patients globally, notably in India. As a result, government and non-government organisations are opening new facilities to fulfil the rising demand for medical oxygen cylinders, which is propelling the global market ahead. The new coronavirus has infected millions of people all across the world. In severe cases, the infection can lead to pneumonia and difficulty breathing. COPD and other lung ailments are becoming more common, which is another major factor driving market expansion. According to the US government, nearly 16 million adults in the United States were diagnosed with COPD in 2017, over 9 million with chronic bronchitis, and 3.5 million with emphysema in 2017.
Presence of Big Players in The Region Support Asia Pacific Dominance
The Asia Pacific region is expected to grow at a CAGR of 13.3% over the forecast period. Factors supporting market expansion in this region include the present pandemic situation with rising Covid-19 cases, increased government initiatives to meet the expanding need for medical oxygen gas cylinders, and major investment in healthcare infrastructure development. A rise in the demand for medical devices in the Asia Pacific region as a result of rising population India's government has used ingenuity to licence industrial oxygen manufacturers to supply medicinal oxygen across the Asia Pacific area. According to recent reports, India utilises more than 700 tonnes of oxygen every day.
In 2020, North America will generate 34.4% of overall income. The expanding geriatric population in the region is one of the primary factors driving market expansion. This group is susceptible to a range of respiratory infections due to a compromised immune system and decreased oxygen intake capability.
Browse the full “Medical Oxygen Gas Cylinders Market By Technology (Pulse Flow and Continuous Flow), By Application (Household, Respiratory Department, Operating Room, and Emergency Room), By Product (Portable and Fixed): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/medical-oxygen-gas-cylinders-market
The global Medical Oxygen Gas Cylinders market is segmented as follows:
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