Medical Gas Cylinders Market Share, Trends, Revenue, Scope, Growth Drivers, Challenges and Future Investment Opportunities Till 2033: SPER Market Research

Published:
Feb-2024

Author:
SPER Analysis Team

TABLE OF CONTENT

RESEARCH METHODOLOGY

Medical Gas Cylinders Market Share, Trends, Revenue, Scope, Growth Drivers, Challenges and Future Investment Opportunities Till 2033: SPER Market Research

Global Medical Oxygen Gas Cylinders Market is projected to be worth USD 6.24 Billion by 2033 with a CAGR of 5.6%.

Medical professionals frequently employ medical oxygen gas cylinders for diagnostic and therapeutic applications. Medical oxygen gas systems, such as oxygen concentrators and compressed oxygen gas cylinders, are widely used in homecare settings. Older patients who have mobility issues and depend on a consistent oxygen supply typically select for these systems.

Global Medical Oxygen Gas Cylinders Market Driving Factors and Challenges

Driving Factors:

Growing Prevalence of Respiratory Diseases: The need for medical oxygen gas cylinders is being driven by the rising prevalence of respiratory conditions such pneumonia, asthma, and chronic obstructive pulmonary disease (COPD). For patients with impaired lung function, these cylinders offer a vital source of oxygen, reducing symptoms and enhancing quality of life.

Increasing Surgical Caseload: Medical oxygen is in constant demand due to the increase in both elective and emergency surgical procedures. In order to guarantee that patients receive enough oxygen during and after surgery, oxygen cylinders are a necessary equipment in operating rooms and recovery areas.

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Growing Ageing Population: As a result of the world's population ageing quickly, age-related respiratory disorders are becoming more common. There will likely be a rise in demand for medical oxygen gas cylinders as respiratory ailments affect the elderly more frequently.

The COVID-19 epidemic has resulted in an unparalleled global need for medicinal oxygen. To maintain their breathing and raise their oxygen levels, patients with severe COVID-19 frequently need oxygen therapy. The market for medical oxygen gas cylinders is under tremendous pressure due to this increase in demand.

Challenges:

High Cost of Medical Oxygen Cylinders: In low- and middle-income nations in particular, the cost of medical oxygen cylinders can be a major hurdle. Healthcare practitioners and individuals have difficulties due to the initial cost of cylinder purchases and the ongoing expenses related to maintenance and refilling.

Strict Regulations: To guarantee patient safety and product quality, the medical oxygen gas cylinder market is heavily controlled. Market expansion may be somewhat hampered by the difficult and time-consuming process of complying with strict regulatory requirements.

Availability of Alternatives: In some circumstances, liquid oxygen systems and oxygen concentrators may be preferable to conventional oxygen cylinders as alternative oxygen delivery methods. These substitutes are user-friendly and convenient, which may reduce the need for cylinders in particular situations.

Impact of COVID-19 on Global Medical Oxygen Gas Cylinders Market

The Global Medical Oxygen Gas Cylinders market has been affected by the COVID-19 outbreak in a variety of ways. Demand was first sparked by the increased attention being paid to healthcare and mobility assistance, but problems arose when supply chains and production processes were disrupted. Market expansion slowed as a result of lockdown regulations and unsettling economic conditions, especially in nations with stringent containment policies. Sales and distribution channels were also impacted by decreased consumer expenditure and restricted access to healthcare services. But the pandemic also made clear how crucial mobility supports are to preserving the independence of people with impairments, which might fuel demand in the long run as economies grow and healthcare systems adjust to new standards.

Medical Oxygen Gas Cylinders Market Key Players:

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; B.N.O.S. Meditech Ltd, Catalina Cylinders, Desco Medical India, Invacare Corporation, Luxfer Gas Cylinders, Medical Depot, O2 CONCEPTS, Precision Medical Inc., ProRack Gas Control Products, Royax, Others.

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Global Medical Oxygen Gas Cylinders Market Segmentation:

By Product Type: Based on the Product Type, Global Medical Oxygen Gas Cylinders Market is segmented as; Fixed Medical Oxygen cylinders, Portable Medical Oxygen cylinders.

By Technology: Based on the Technology, Global Medical Oxygen Gas Cylinders Market is segmented as; Continuous Flow, Pulse Flow.

By End User: Based on the End User, Global Medical Oxygen Gas Cylinders Market is segmented as; Home Care, Non Homecare.

By Region: This research also includes data for Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.