Medical Oxygen Gas Cylinders Market Size 2023, Rising Trends, Revenue, Growth Drivers, Key Players, Challenges, Future Opportunities and Forecast Analysis Till 2033: SPER Market Research
Healthcare professionals frequently utilise medical oxygen gas cylinders for both therapeutic and diagnostic applications. Medical oxygen gas systems, such as oxygen concentrators and compressed oxygen gas cylinders, are common in homecare settings and are typically selected by elderly patients who have mobility issues and depend on a consistent oxygen supply.
According to SPER market research, ‘Medical Oxygen Gas Cylinders Market Size- By Product Type, By Technology, By End User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Global Medical Oxygen Gas Cylinders Market is predicted to reach USD 6.24 Billion by 2033 with a CAGR of 5.6%.
The market for medical oxygen gas cylinders is expanding significantly due to the rising need for oxygen therapy in surgical procedures and respiratory illnesses. The pandemic has brought even more attention to how vital medicinal oxygen is to life preservation. In the upcoming years, the market for medical oxygen gas cylinders is anticipated to rise steadily. Market expansion is anticipated to be driven by the ageing population, rising respiratory illness prevalence, and increased need for oxygen therapy. The market will continue to be shaped by product and technological developments, with cylinders that are portable and light-weight being the main focus. Industry players and healthcare professionals will need to work together to satisfy patients’ changing requirements and guarantee that medical oxygen gas cylinders are available in key healthcare settings.
For both patients and medical professionals, who frequently find it difficult to cover the expense of both the initial purchase and ongoing maintenance, the high cost of medical oxygen cylinders poses a significant barrier. Particularly in low- and middle-income countries is this true. Furthermore, the stringent regulations governing the medical oxygen gas cylinder market—meant to ensure patient safety and product quality—may impede market expansion due to the challenging and drawn-out compliance process. Additionally, in some situations, the need of conventional oxygen cylinders may be lessened by the availability of easy-to-use and practical alternative oxygen delivery technologies such oxygen concentrators and liquid oxygen systems.
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The medical oxygen gas cylinder sector has seen significant disruptions because to the Covid-19 epidemic. The global increase of COVID-19 cases has resulted in an unparalleled need for medical oxygen, placing considerable pressure on the supply system. There is a shortage of oxygen cylinders in many areas due to the abrupt rise in hospital admissions and the requirement for oxygen therapy. To keep up with the growing demand, governments and healthcare authorities have been attempting to increase production and distribution. The pandemic has highlighted how vital medical oxygen gas cylinders are to saving lives and giving Covid-19 patients the attention they need.
The market for medical oxygen gas cylinders was dominated by North America, mostly as a result of the rising number of Covid-19 cases and the ageing population. Europe trailed closely behind. Medical oxygen gas cylinder demand in North America was driven by the U.S. Centres for Disease Control and Prevention’s report that over seven billion respirators were needed to battle serious respiratory outbreaks like Covid-19. On the other hand, the Asia-Pacific area is anticipated to experience the fastest growth rate due to a rise in hospitals with cutting-edge medical facilities, infrastructure development, and an increase in infectious, chronic, and cardiovascular diseases.
Additionally, some of the market key players are B.N.O.S. Meditech Ltd, Catalina Cylinders, Desco Medical India, ProRack Gas Control Products, Royax, Others.
Medical Oxygen Gas Cylinders Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
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.
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Medical Oxygen Gas Cylinders Market Outlook
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