Oxygen Cylinders and Concentrators Market Size & Share 2019 - 2025
Market Size by Product (Portable, Fixed), by Application (Healthcare, Pharmaceutical & Biotechnology, Manufacturing, Aerospace & Automotive, Others), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, & Forecast.
Report ID: GMI2097
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Published Date: March 2019
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Report Format: PDF
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Authors:
Monali Tayade, Jignesh Rawal
Oxygen Cylinders and Concentrators Market Size
Oxygen Cylinders and Concentrators Market size was valued USD 2.7 billion in 2018 and is expected to grow at over 8.9% CAGR from 2019 to 2025.
Increasing geriatric population base will serve as a high impact rendering factor. The elderly population is at a greater risk of acquiring respiratory disorders such as COPD. Aging leads to decline in effectiveness of defense mechanism of the lung along with weakening of respiratory muscles. Moreover, there is a decrease in peak airflow and the maximum amount of air that can be breathed out after a maximum inhalation.
Rising number of smokers and growing exposure to dust particles will further fuel the market growth. Cigarette smoke releases chemicals which are absorbed by lungs leading to tissue and cell damage. Inhalation of dust particles and their consequent settling in the airways may lead to inflammation of the trachea or bronchitis. These factors increase the risk of acquiring respiratory diseases.
Lack of availability of these devices in developing regions hampers the market expansion. Low product availability is often related to cost and lack of infrastructure. Risk of operational hazards due to unsafe or improper storage practices which may result in serious injuries hampering the industry growth.
COVID-19 pandemic has positively impacted the global oxygen cylinders and concentrators market. Coronavirus infection can severely affect the lungs and thereby, the breathing rate of patients. Hence, as per the healthcare authorities, oxygen therapy is recommended for moderate to severely affected patients. Oxygen therapy may be given though various modalities including oxygen concentrators and cylinders and thus, these devices have observed robust demand during the past few months across the globe.
High-income countries of North America and Europe have substantial resources and facilities, whereas, low- and middle-income countries including India have experienced high scale demand for oxygen concentrators and cylinders, along with delays and disruptions in the supply chain. With raised customer demand coupled with inflated prices, the industry is forecasted to experience considerable revenue growth. Furthermore, the market will foresee demand for both, fixed and portable devices, owing to presence of significant patient base in hospitals and homecare. Thus, the global market will boom in the healthcare sector significantly during the forecast timeframe.
Oxygen Cylinders and Concentrators Market Analys
Portable devices held significant revenue share in 2018. Increased mobility and independence attributed to its light weight and ease of usage will boost the segment growth. Patients prefer cylinders and concentrators which are easy to carry and enable them to perform routine activities easily.
Fixed devices are poised to showcase 8.9% growth rate through 2025. Large and heavy oxygen cylinders are usually used to supply gas through pipeline systems at high pressure for equipment such as anesthetic machines and ventilators. In addition, these devices also find applications in industrial settings requiring large amount of gas for various processes.
Healthcare application segment in the oxygen cylinders and concentrators market accounted for USD 1.26 billion in 2018 led by the large number of patients’ dependent on oxygen. Increasing incidence of respiratory disorders such as COPD, asthma will impel the industry expansion over the forecast years. Oxygen concentrators are used to deliver supplementary oxygen to individuals suffering from COPD, chronic hypoxemia and pulmonary edema. They are also used in adjunct treatment for severe sleep apnea. Moreover, oxygen is also required during surgery and intensive care treatment. Increasing number of accidents and fatalities requiring immediate hospitalization and operation along with rising number of surgeries should further propel the market demand.
Manufacturing application will register significant growth in the coming years. Soaring number of manufacturing units such as metals and metals processing, pulp and paper production, glass making, and welding and metal fabrication will stimulate the market progression.
Increasing number of people opting for sports such as mountaineering and scuba will also augment the industry progression. These sports require a steady source of oxygen due to lack of availability of the gas in the environment in which they are performed.
U.S. oxygen cylinders and concentrators market captured over 85% of revenue share in 2018. Increasing prevalence of respiratory diseases and early diagnosis of these diseases will drive the market revenue. Presence of developed healthcare infrastructure and growing per capita income of the patient’s will further surge the industry demand.
India market are estimated to attain a CAGR of 9.7% by 2025. Presence of large elderly population pool susceptible to respiratory disorders rising pollution levels and burning of biomass fuels will aggravate respiratory problems. Growth of manufacturing sector should stimulate demand due to requirement of oxygen in various manufacturing processes. Adventure sports such as scuba diving are rapidly gaining popularity. Rising number of dive centers in the recent years will influence demand for oxygen cylinders and concentrators.
Oxygen Cylinders and Concentrators Market Share
Some of the prominent participants operating in the market are :
The industry players resort to various strategies such as acquisitions, new product launch and partnerships for strengthening their market position.
Industry Background
Industry is highly fragmented in nature and witnesses’ high industrial rivalry. The rivalry is set to intensity further over the forecast years owing to the entry of new players credited to the favorable regulations. Development of light weight products offering ease of portability coupled with long battery life will foster the business growth over the coming years. APAC and Latin American countries provide a lucrative future opportunity driven by the presence of large patient pool suffering from Chronic Obstructive Pulmonary Disease, Asthma and other respiratory disorders.
Oxygen cylinders and concentrators market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
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The above information is provided for the following regions and countries:
Research methodology, data sources & validation process
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Our 6-step research process
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Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
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