Medical Oxygen Gas Cylinders Market Segmented By Product (10L, 40L, 50L, 100L, Others), By Application (Operating Room, Emergency Room, Household, Respiratory Department, and Others), and By Region (North America, Europe, Latin America, Asia Pacific, Middle East and Africa, and Rest of the World) – Key Insights and COVID-19 Impact on the Global Market Growth 2021-2026
Medical Oxygen Gas Cylinders Market Introduction:
Medical Oxygen Gas Cylinders Market Size valued at USD 9.2 Billion in 2021, and it is projected to reach USD 23 Billion by the end of 2026, with growth at a CAGR 6.9% over the forecast period 2021-2026.
The increasing prevalence of chronic diseases, upsurge in the FDA approvals for medical gas tools, growing geriatric population and growing insistence for home healthcare setting are some of the significant aspects responsible for the medical oxygen gas cylinders market growth. Medical oxygen cylinders are often mandatory by healthcare staff for diagnostic purposes and treatment. Appalling disorders like asthma, diabetes, cardiovascular diseases have harshly affected the world. These are the key elements that strengthen the growth of the medical oxygen gas cylinders market.
Medical Oxygen Gas Cylinders Market Growth:
The Global Medical Oxygen Gas Cylinders market is expected to accomplish substantial growth by the end of the assessment period. Our report describes that this market is expected to reach a significant growth rate over the assessment period. Medical oxygen gas cylinders market research report delivers essential information about the total evaluation that this market holds currently and it also lists the medical oxygen gas cylinders market segmentation along with the growth opportunities current through this industry vertical.
The government of India and the All India Industrial Gases Manufacturer’s Association (AIIGMA) have cooperated with each other for satisfying the demand for medical oxygen. The inter-ministerial task force that has been founded by the Petroleum and Explosives Safety Organization, Department for Promotion of Industry and Internal Trade Explosives Section (DPIIT), and also the Ministry of Commerce and Industry has made sure that there is plenty supply of medical oxygen. Medical authorities are scenery up emergency hospitals across European region. The Air Products & Air Liquid are making struggles in connecting over 7 kilometers of pipelines within the IFEMA Convention Centre situated in Madrid which might supply medical oxygen to each and every hospital bed through liquid storage tanks or tankers. All these aspects tend to confidently influence the medical oxygen gas cylinders market growth.
The major elements for global medical oxygen gas cylinders market growth are the upsurge prevalence of chronic and infectious diseases like pandemic Covid-19, asthma, cancer, heart attack, diabetes, etc., and the increase in the global geriatric population. As per WHO in the year 2020, there has been substantial death troll occurred globally due to this infectious disease coronavirus till now more than 32.8 L deaths have been noted with more than 15.8 Cr infected cases around the globe. Hence to combat such covid-19 pandemic, medical oxygen cylinders are extensively used for the patients who are in ICU. The medical oxygen gas cylinders market is hindered by some of the key elements with the higher cylinders cost and necessitates precaution like it should be kept a minimum distance of 20 feet from ignitable. Besides, the upsurge of attention on technological improvement by portable oxygen cylinders for home-based care sets will make a huge opportunity for the medical oxygen gas cylinders market and is predictable to boost the global medical oxygen gas cylinders market over the assessment period.
Medical Oxygen Gas Cylinders Market Segmentation:
Global Medical Oxygen Gas Cylinders Market segmented by Product Type, and by Application. Based on Product Type market is subdivided into 10L, 40L, 50L, 100L, and Others. Based on the Application, it is divided into Operating Room, Emergency Room, Household, Respiratory Department, and Others.
Geographical Classification of the global Medical Oxygen Gas Cylinders Market:
Geographically the global medical oxygen gas cylinders market classified into North America into the USA, Canada. By Latin America into Brazil, Argentina, Mexico. By Europe into UK, Germany, Spain, France, London, Italy, and rest of the European countries. The Middle East and Africa into KSA, UAE, Qatar, & South Africa. The Asia Pacific into India, China, Japan, Malaysia, Singapore, Australia, and the Rest of the APAC countries.
North America Medical Oxygen Gas Cylinders Market:
North America medical oxygen gas cylinder market is projected to control the global market with the possible rate due to increasing occurrence of Covid-19 cases and increase in the geriatric population in this North America region followed by Europe. As per the United States Centers for Disease Control and Prevention, the U.S has a requirement of more than 7 billion respirators in the long run to combat a worst-case outspread of an epidemic such as coronavirus (COVID-19) which can be helpful by medical devices like oxygen cylinders.
Europe Medical Oxygen Gas Cylinders Market:
Europe medical oxygen gas cylinders market is the second-largest region for leading the growth of medical oxygen gas cylinders equipment due to upsurges of Non-communicable Diseases, like cardiovascular diseases, diabetes, cancer, and chronic diseases. According to WHO, the Europe region accounts for the growth of NCDs with around 77% of the disease problem which directly surges the demand for medical oxygen gas cylinders for the treatment of these diseases.
Asia Pacific Medical Oxygen Gas Cylinders Market:
The Asia Pacific medical oxygen gas cylinders market is projected to occur as the fastest-growing regional market due to fast increasing the prevalence of infectious diseases and chronic diseases, cardiovascular diseases as well as an increase in the necessity for medical devices in the Asia Pacific region due to higher population. In the Asia Pacific region, India’s government has taken inventiveness to approve for industrial oxygen makers to supply medical oxygen. As per the present news, Indian consumes over 700 tons of oxygen per day.
Prominent Key Companies Listed in the Global Medical Oxygen Gas Cylinders Market:
The Major Key Players covered in the global market report are; Allied Healthcare Products, FARUM, Attucho, ME.BER, OrientMEd International FZE, Meditech, PVS, TECNO-GAZ, and ROYAX.
Medical Oxygen Gas Cylinders Industry – By Product:
Medical Oxygen Gas Cylinders Industry – By Application:
- Operating Room
- Emergency Room
- Respiratory Department
North America: Unites States and Canada
Europe: Germany, United Kingdom, Spain, Italy, France, London, and rest of European countries
Latin America: Mexico, Brazil, Chile, Argentina
Asia Pacific: India, Japan, China, South Korea, Australia, New Zealand, Singapore, rest of APAC
Middle East and Africa: UAE, KSA, Qatar, South Africa, Rest of MEA
Rest of the World
- Allied Healthcare Products
- OrientMEd International FZE
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