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Oxygen Cylinder And Concentrator Market Report

RA00030

Oxygen Cylinder and Concentrator Market by Product (Portable and Fixed), End-user (Healthcare, Pharmaceutical & biotechnology, Manufacturing, and Aerospace & automotive), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

RA00030

Pages: 176

Jul 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Oxygen Cylinder And Concentrator Market

Global Oxygen Cylinder and Concentrator Market Analysis

The global oxygen cylinder and concentrator market is anticipated to garner $6,706.7 million in the 2021–2028 period, rising from $4,313.3 million in 2020, at a noteworthy CAGR of 5.1%.

Market Synopsis

Extensively growing cases of chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD) and asthma across the globe is projected to bolster the market of oxygen cylinders and concentrators, during the analysis period.

However, less availability along with high investment cost of instruments particularly across the developing nations may obstruct the global market growth of oxygen cylinders and concentrators industry. 

According to the regional analysis of the oxygen cylinder and concentrator market, the Asia-Pacific market is anticipated to surge at a CAGR of 6.6%, by registering a revenue of $1,985.2 million, during the forecast period.

Oxygen Cylinder and Concentrator Overview

Oxygen cylinders and concentrators are both medical equipment which play key roles in delivering oxygen to the patient with respiratory diseases like asthma, COPD, and lung cancer. Oxygen cylinders have a limited amount of oxygen gas compressed within them and utilized by the patient until it runs out. However, oxygen concentrators are mostly battery-powered equipment which filter and produce medical-grade oxygen, at an infinite supply to the patient. Also, both oxygen cylinder and concentrator are easy to refill, built with balanced composition, and compact and portable.

Impact Analysis of COVID-19 on the Global Oxygen Cylinder and Concentrator Market

The coronavirus pandemic has massively affected the health of the people, across the globe. Major business sectors such as textile, petroleum, and transportation industry have witnessed a notable decline except the healthcare sector. The COVID-19 outbreak has largely boosted the healthcare sector and accelerated its growth curve. The communal transmission of COVID-19 has attacked the respiratory system of the people globally which has made them suffer from dangerous respiratory diseases. To overcome this problem, the need for oxygen cylinders and concentrators has astonishingly increased which has flourished the growth of the global market. To attend this growing demand for oxygen, multiple companies are coming up with strategic steps. For example, in July 2021, Bharat Heavy Electricals Limited (BHEL), Delhi-based Indian government owned engineering and manufacturing enterprise, has announced to set up a manufacturing plant for medical oxygen in Hyderabad. Such company initiatives are further anticipated to accelerate the oxygen cylinders and concentrators market growth, post COVID-19 crisis.

The burden of chronic respiratory diseases across the Worldwide to Upsurge the Global Market Growth

Dramatically increasing patients of chronic respiratory conditions such as asthma and COPD worldwide is anticipated to drive the demand for oxygen cylinders and concentrators market, throughout the analysis timeframe. Geriatric population is more susceptible to diseases mainly owning to weaker immune responses. Thus, the prevalence of respiratory disease is high among the old-age group people. Consequently, extensive growth in the geriatric population also results in higher prevalence of respiratory conditions. For example, as per data published by ‘World Health Organization (WHO), a specialized agency of the United Nations (UN) responsible for international public health  in 2019, Asthma affected almost 262 million people and caused 461,000 deaths across the globe. Such facts and figures showcase that the demand for oxygen supply is expected to increase, which may eventually drive the global cylinders and concentrators industry throughout the analysis period. 

To know more about global oxygen cylinder and concentrator market drivers, get in touch with our analysts here.

A Higher Investment cost may obstruct the Growth of the Global Oxygen Cylinder and Concentrator Market 

Despite of growing demand for oxygen cylinder and concentrators for managing respiratory diseases, some major reasons like high investment cost and less availability of instruments in developing countries are expected to hamper the growth of oxygen cylinders and concentrators market. Also, the purchasing cost of oxygen cylinders and concentrators is very high due to which not many people can afford this line of treatment for their respiratory diseases. 

Major Technological Innovations in the Respiratory Equipment & Medical Oxygen Devices may Create Enormous Opportunities for the Global Market in the Future

Increasing technological advancements in oxygen cylinders and concentrators are expected to boost the market in the future. As the demand for oxygen cylinders and concentrators is increasing at an alarming rate, researchers and scientists have paced up their research and development activities to develop latest technology devices for better experience of patients suffering from respiratory diseases. For instance, in June 2021, researchers at Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), Bengaluru, India, designed a cheap and mobile oxygen concentrator named OxiJani which can be used in remote areas too due to the mobility and can be rapidly deployed for emergencies in any location. Furthermore, in June 2021, team of engineering students of Lords Institute of Engineering & Technology (LIE&T), Hyderabad, have innovated and developed a dual use oxygen concentrator from a water purifier for emergency use. Such developments are expected to increase the market revenue in the coming years. 

To know more about global oxygen cylinder and concentrator market opportunities, get in touch with our analysts here.

Oxygen Cylinder and Concentrator Market
By Product

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Based on product, the market has been divided into portable and Fixed of which the portable sub-segment is anticipated to have the significant growth, throughout the forecast period.

Source: Research Dive Analysis

The portable sub-segment is expected to have the lucrative growth in the global market and register a revenue of $2,485.6 million by 2028. 

Portable oxygen concentrator and cylinder is a type of medical device that helps patients or individuals with a low level of blood oxygen. They are powered by batteries or electric switches. Moreover, portable type of oxygen concentrator and cylinder are easy moveable from one place to another due to their light weight; therefore, they are preferred by most of the patients.   Furthermore, startup companies operating in the developing countries such as India are following novel product innovations in oxygen concentrators. For example, in June 2021, Walnut Medical, India based notable healthcare product firm, has developed a 10L and 5L portable medical grade oxygen concentrators built with pressure swing adsorption (PSA) technology with the oxygen purity of 96%.

Fixed sub-segment of the global oxygen cylinder and concentrator market is anticipated to have largest share in 2020, and surpass $4,227.8 million by 2028, with a rise from $2,775.9 million in 2020. 

Fixed type of oxygen concentrator and cylinders are non-movable or stationary. They are device forpatients that are suffering from lower oxygen levels in the body. In addition to this, fixed type oxygen concentrator and cylinders have wide applications in the industrial segments such as automotive, aerospace, and manufacturing. Moreover, fixed type oxygen concentrator and cylinders prices are 3 to 6 times lower than portable oxygen concentrator and cylinders, which may create significant impact on the sub-segment’s growth, during the forecast period.

Oxygen Cylinder and Concentrator Market
By End User

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Based on end-user, the market has been categorized into Healthcare, pharmaceutical & biotechnology, manufacturing, and aerospace & automotive. Out of these, the Healthcare sub-segment is anticipated to garner the maximum revenue in the global market, throughout the analysis period.

Source: Research Dive Analysis

The healthcare sub-segment of the global oxygen cylinder and concentrator market is estimated to grow at the most notable CAGR and surpass $5,965.8 million by 2028, with a rise from $3,808.9 million in 2020.

Increasing number of accidents along with growing requirement of immediate hospitalization and operations worldwide is expected to accelerate the demand for oxygen cylinder and concentrators in the healthcare establishments. Moreover, growing patients with severe respiratory diseases across North American as well as Asia-pacific countries may also drive the market, in the projected period. For example, according to the U.S. government, in 2019 more than 16 million people suffered from COPD and approximately 9 million suffered with chronic bronchitis, in US. Furthermore, as per data published by Australian Institute of Health and Welfare 2020, almost 1 in 20 Australians with age 45 years and over had COPD during 2017–18. All such elements and figures will boost the demand for oxygen cylinder and concentrator.  

Oxygen Cylinder and Concentrator Market
By Region

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The oxygen cylinder and concentrator market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Source: Research Dive Analysis

The Market for Oxygen Cylinder and Concentrator in Asia-Pacific to be the Most Lucrative

Asia-Pacific oxygen cylinder and concentrator market accounted $1,138.7 million in 2020,and is expected to register a revenue of $1,985.2 million by 2028.

An alarming spike in the number of COVID-19 cases in countries such as India, China, Australia, and others, during which many people lost their lives due to shortage of oxygen supply, is estimated to drive the demand for oxygen cylinder and concentrator in this region. Moreover, rising awareness among public regarding detection and treatment of diseases, along with increase in healthcare spending are some of the factors accelerating the market growth in the region. Furthermore, robust government initiatives such as providing funds for the hospitals and clinics to ensure unrestricted supply of oxygen during the pandemic are the key market drivers. For example, in May 2021, an American India Foundation, a non-profit organization working in India, raised $25 million and ordered 5,500 oxygen concentrators and other emergency equipment for India, from MedShare, a non-profit organization that delivers excess medical supplies and equipment to various communities and other vendors from the U.S. All Such factors are expected to drive the Asia-pacific oxygen cylinder and concentrator market, in the forecast period.

The North America Oxygen Cylinder and Concentrator Market to be the Most Dominant

North America oxygen cylinder and concentrator market accounted $1,432.0 million in 2020, and is expected to register a revenue of $2,072.4 million by 2028. An increase in the number of COVID-19 patients with mild symptoms particularly across the U.S. and Canada has increased the demand for oxygen concentrators. Moreover, the increasing prevalence of chronic diseases such as COPD and others is further expected to drive the demand for oxygen cylinder and concentrator market, during the forecast period. For instance, as per data published by National Heart, Lung, and Blood Institute (NIH), the U.S. department of health and human services, in February 2021, COPD affects 1 in 8 Americans aged 45 and older.  In addition, the presence of a large number of oxygen cylinder and concentrator manufacturers such as Chart Industries, Inc. and O2 Concepts, LLC in North America is estimated to drive the market growth. All these factors are estimated to drive the demand for oxygen cylinder and concentrators in the North America region.

Competitive Scenario in the Global Oxygen Cylinder and Concentrator Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Competitive Scenario in the Global Oxygen Cylinder and Concentrator Market

Source: Research Dive Analysis

Some of the leading Oxygen Cylinder and Concentrator market players are Chart Industries, Inc., O2 Concepts, LLC, Nidek Medical India., Devilbiss Healthcare LLC, Inogen, Inc., Invacare Corporation, Worthington Industries, Resmed, TEIJIN LIMITED., and Koninklijke Philips N.V. 

Porter’s Five Forces Analysis for the Global Oxygen Cylinder and Concentrator Market:

  • Bargaining Power of Suppliers: The suppliers operating in the global oxygen cylinder and concentrator are high in number and are much larger and more globalized. So, there will be less threat from the supplier.
    Thus, the bargaining power of the supplier is Low.    
  • Bargaining Power of Buyer: Buyers demand effective oxygen cylinders and concentrators in lower cost. This has increased the pressure on the multiple providers to offer the oxygen cylinders and concentrators in a cost-effective way. Thus, many suppliers are offering best yet cost –effective oxygen cylinders and concentrators. This gives the buyers the option to freely choose oxygen cylinders and concentrators that best fits their preference.
    Thus, the bargaining power of the buyer is High.
  • Threat of New Entrants: The companies entering the global oxygen cylinder and concentrator market are adopting technological innovations to attract customers. Also, these companies are implementing various effective strategies and there is government support in some countries.
    Thus, threat of the new entrants is high.
  • Threat of Substitutes: There is no alternative product available. 
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The competitive rivalry among the industry leaders is rather intense, especially between the global players including Chart Industries, Inc., O2 Concepts, LLC, and Nidek Medical India. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
    Therefore, the competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast timeline for Market Projection

  2021-2028

  Geographical Scope

 North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Product

  • Portable
  • Fixed

  Segmentation by End-user

  • Healthcare
  • Pharmaceutical & biotechnology
  • Manufacturing
  • Aerospace & automotive

  Key Countries Covered

U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, Brazil, Saudi Arabia, United Arab Emirates, Rest of LAMEA

 Key Companies Profiled

 

  • Chart Industries, Inc.
  • O2 Concepts, LLC
  • Nidek Medical India.
  • Devilbiss Healthcare LLC
  • Inogen, Inc.
  • Invacare Corporation
  • Worthington Industries
  • Resmed
  • Koninklijke Philips N.V.
  • TEIJIN LIMITED.

Frequently Asked Questions
 

A. The global Oxygen Cylinder and Concentrator market size was over $4,313.3 million in 2020 and is projected to reach $6,706.7 million by 2028.

A. Devilbiss Healthcare LLC, Inogen, Inc., and Invacare Corporation are some of the key players in the global Oxygen Cylinder and Concentrator Market.

A. The Asia-Pacific region possesses great investment opportunities for the investors to witness the most promising growth in the future.

A. Asia-Pacific Oxygen Cylinder and Concentrator market is anticipated to grow at 6.6% CAGR during the forecast period.

A. Capacity expansion, product development, along with joint ventures are the key strategies opted by the operating companies in this market.

A. Worthington Industries and Resmed companies are investing more on R&D activities for developing new products and technologies.

CHAPTER 1:RESEARCH METHODOLOGY

1.1.Desk research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions & forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

CHAPTER 2:EXECUTIVE SUMMARY

2.1.360° summary
2.2.Product trends
2.3.End-user trends

CHAPTER 3:MARKET OVERVIEW

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis
3.4.Market dynamics
3.5.Drivers

3.5.1.Prevalence of Chronic Respiratory Diseases to drive the market growth
3.5.2.Inclination of patients towards portable oxygen concentrators to boost the market growth

3.6.Restraints

3.6.1.High cost of the oxygen cylinders and concentrators to restrain the market growth

3.7.Opportunities

3.7.1.Rising Advances in technologies to boom the market growth in the future

3.8.Technology landscape
3.9.Regulatory landscape
3.10.Patent landscape
3.11.Market Value Chain Analysis
3.12.Strategic Overview

CHAPTER 4:IMPACT OF COVID-19 ON OXYGEN CYLINDER AND CONCENTRATOR MARKET

4.1.Introduction

4.2.COVID-19 health assessment
4.3.Impact of COVID-19 on the global economy
4.4.Impact of COVID-19 on global oxygen cylinders and concentrators market

4.4.1.Social impact

4.4.2.Technological impact
4.4.3.Investment scenario

4.5.Global oxygen cylinders and concentrators market size and forecast, by region, 2020-2022

CHAPTER 5:GLOBAL OXYGEN CYLINDERS AND CONCENTRATORS MARKET, BY PRODUCT

5.1.Overview

5.1.1.Market size and forecast, by product

5.2.Portable

5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market share analysis, by country

5.3.Fixed

5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market share analysis, by country

CHAPTER 6:GLOBAL OXYGEN CONCENTRATOR AND CYLINDERS MARKET, BY END-USER

6.1.Overview

6.1.1.Market size and forecast, by end-user type

6.2.Healthcare

6.2.1.Key market trends, growth factors and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market share analysis, by country

6.3.Pharmaceutical & Biotechnology

6.3.1.Key market trends, growth factors and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market share analysis, by country

6.4.Manufacturing

6.4.1.Key market trends, growth factors and opportunities
6.4.2.Market size and forecast, by region
6.4.3.Market share analysis, by country

6.5.Aerospace & Automotive

6.5.1.Key market trends, growth factors and opportunities
6.5.2.Market size and forecast, by region
6.5.3.Market share analysis, by country

CHAPTER 7:GLOBAL OXYGEN CYLINDER AND CONCENTRATOR MARKET, BY REGION

7.1.Overview

7.1.1.Market size and forecast, by region

7.2.North America

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by product
7.2.3.Market size and forecast, by End Use
7.2.4.Market size and forecast, by country

7.2.4.1.U.S.

7.2.4.1.1.Market size and forecast, by product
7.2.4.1.2.Market size and forecast, by End Use

7.2.4.2.Canada

7.2.4.2.1.Market size and forecast, by product
7.2.4.2.2.Market size and forecast, by End Use

7.2.4.3.Mexico

7.2.4.3.1.Market size and forecast, by product
7.2.4.3.2.Market size and forecast, by End Use

7.3.Europe

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by product
7.3.3.Market size and forecast, by End Use
7.3.4.Market size and forecast, by country

7.3.4.1.UK

7.3.4.1.1.Market size and forecast, by product
7.3.4.1.2.Market size and forecast, by End Use

7.3.4.2.Germany

7.3.4.2.1.Market size and forecast, by product
7.3.4.2.2.Market size and forecast, by End Use

7.3.4.3.France

7.3.4.3.1.Market size and forecast, by product
7.3.4.3.2.Market size and forecast, by End Use

7.3.4.4.Spain

7.3.4.4.1.Market size and forecast, by product
7.3.4.4.2.Market size and forecast, by End Use

7.3.4.5.Italy

7.3.4.5.1.Market size and forecast, by product
7.3.4.5.2.Market size and forecast, by End Use

7.3.4.6.Rest of Europe

7.3.4.6.1.Market size and forecast, by product
7.3.4.6.2.Market size and forecast, by End Use

7.4.Asia-Pacific

7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by product
7.4.3.Market size and forecast, by End Use
7.4.4.Market size and forecast, by country

7.4.4.1.China

7.4.4.1.1.Market size and forecast, by product
7.4.4.1.2.Market size and forecast, by End Use

7.4.4.2.Japan

7.4.4.2.1.Market size and forecast, by product
7.4.4.2.2.Market size and forecast, by End Use

7.4.4.3.India

7.4.4.3.1.Market size and forecast, by product
7.4.4.3.2.Market size and forecast, by End Use

7.4.4.4.Australia

7.4.4.4.1.Market size and forecast, by product
7.4.4.4.2.Market size and forecast, by End Use

7.4.4.5.South Korea

7.4.4.5.1.Market size and forecast, by product
7.4.4.5.2.Market size and forecast, by End Use

7.4.4.6.Rest of Asia-Pacific

7.4.4.6.1.Market size and forecast, by product
7.4.4.6.2.Market size and forecast, by End Use

7.5.LAMEA

7.5.1.Key market trends, growth factors, and opportunities

7.5.2.Market size and forecast, by product
7.5.3.Market size and forecast, by End Use
7.5.4.Market size and forecast, by country

7.5.4.1.Latin America

7.5.4.1.1.Market size and forecast, by product
7.5.4.1.2.Market size and forecast, by End Use

7.5.4.2.Middle East

7.5.4.2.1.Market size and forecast, by product
7.5.4.2.2.Market size and forecast, by End Use

7.5.4.3.Africa

7.5.4.3.1.Market size and forecast, by product
7.5.4.3.2.Market size and forecast, by End Use

CHAPTER 8:OXYGEN CYLINDER AND CONCENTRATOR MARKET: COMPANY PROFILE

8.1.CHART INDUSTRIES, INC.

8.1.1.Company overview
8.1.2.Company snapshot
8.1.3.Operating business segments
8.1.4.Product portfolio
8.1.5.Business performance
8.1.6.Key strategy moves and developments

8.2.O2 CONCEPTS, LLC.

8.2.1.Company overview
8.2.2.Company snapshot
8.2.3.Product portfolio

8.3.NIDEK MEDICAL INDIA

8.3.1.Company overview
8.3.2.Product portfolio

8.4.DEVILBISS HEALTHCARE LLC

8.4.1.Company overview
8.4.2.Product portfolio

8.5.INOGEN, INC.

8.5.1.Company overview
8.5.2.Operating business segments
8.5.3.Product portfolio
8.5.4.Business performance
8.5.5.Key strategy moves and developments

8.6.INVACARE CORPORATION.

8.6.1.Company overview
8.6.2.Operating business segments
8.6.3.Product portfolio
8.6.4.Business performance
8.6.5.Key strategy moves and developments

8.7.WORTHINGTON INDUSTRIES, INC.

8.7.1.Company overview
8.7.2.Operating business segments
8.7.3.Product portfolio
8.7.4.Business performance

8.8.RESMED INC.

8.8.1.Company overview
8.8.2.Operating business segments
8.8.3.Product portfolio
8.8.4.Business performance
8.8.5.Key strategic moves and developments

8.9.KONINKLIJKE PHILIPS N.V.

8.9.1.Company overview
8.9.2.Operating business segments
8.9.3.Product portfolio
8.9.4.Business performance
8.9.5.Key strategic moves and developments

8.10.TEIJIN LIMITED.

8.10.1.Company overview
8.10.2.Product portfolio
8.10.3.Operating business segments
8.10.4.Business performance
8.10.5.Key strategic moves and developments

Oxygen cylinders and concentrators are used to provide immediate attention during medical emergencies, especially if a person isn’t able to avail instant medical facility. It is specifically used for people suffering from respiratory illnesses and also for patients that are in a critical condition. These portable oxygen cylinders have a simpler way of functioning due to which the demand has increased immensely across the globe.

COVID-19 Impact on the Global Oxygen and Concentrator Market

The pandemic caused widespread disruption of normal functioning of several industries. But, the oxygen cylinders and concentrators market experienced exponential growth in this crucial time. The coronavirus primarily attacks the respiratory system due to which the patient requires external support to breathe. This caused a tremendous rise in the requirement of oxygen cylinder and concentrators all over the world. The second wave of the coronavirus, especially in India, led to a large number of people being infected by the coronavirus. This resulted in setting up of new oxygen plants in the country to supplement the need for oxygen cylinder and concentrators. These factors caused the market to grow immensely during the pandemic period.

Key Developments in the Industry

Multiple organizations have been taking initiatives to establish themselves in the market while also taking part in research. The companies have also been using innovative methods to create high quality products to ensure customer satisfaction.

In November 2019, CAIRE, a renowned manufacturer of oxygen supply equipment, introduced a revamped version of the FreeStyle Comfort portable oxygen concentrator, which is now also fitted with autoSAT technology. This addition ensures that the patient gets a constant supply of oxygen to his or her body while taking their respiratory rate as per the daily routine that they follow.

Similarly, in June 2021, Servotech Power Systems, a pioneer in the production of solar panel, UVC disinfection products, and more, started producing oxygen concentrators as well. The company aims to release over 100,000 concentrators by March 2022 that will come in two variants 5 LPM and 10 LPM. These devices are made to be lightweight and noiseless, which will ensure a steady supply of oxygen to the patient as per their requirement.

Forecast Analysis of the Global Market

A recently published report by Research Dive states that the global oxygen cylinder and concentrator market is predicted to garner revenue of $6,706.7 million by 2028 rising from $4,313.3 million in 2020 at a steady CAGR of 5.1% from 2021-2028. The Asia-Pacific region is predicted to hold the highest share in the market due to the rise in coronavirus cases in several countries such as Australia, China, and India. Additionally, extensive financial assistance from the governments as well as non-profit organizations providing their contribution to the hospitals and clinics further ensured the growth of the oxygen and concentrator market in the region.

 Oxygen cylinders and concentrators help in simplifying the treatment process for patients diagnosed with respiratory illnesses. Their easy functioning along with their portability has led to a rise in demand for development of portable oxygen cylinders and concentrators. Many experts of the market have been investing in more upgraded versions of the concentrators. This has led to the growth of the market in the analysis period.

On the contrary, the oxygen cylinders are mostly priced at a higher rate. To add further, most underdeveloped countries do not receive reimbursements from the government for the utilization of the cylinders and concentrators. These factors are expected to cause a hindrance in the growth of the market.

Companies have been working on making further advancements in the process of upgrading the medical oxygen cylinders. Research and development activities have been a top priority for the industry experts, as patients suffering from respiratory illnesses require immediate attention. One such initiative was taken by Teijin, a Japanese pharmaceutical and information technology organization. They built a new age smart oxygen concentrator known as Hai Sanso 5S with multiple features such as voice guidance that provides constant updates about the status of the device to the patient.

To add further, many experts and pioneers of the market have put in plenty of efforts to ensure that the emergency oxygen cylinders are easily available to people. Some of them are, Chart Industries, Inc, Nidek Medical India, Inogen Inc, Worthington Industries, TEIJIN Limited, O2 Concepts, LLC, Devilbiss Healthcare, LLC, Invacare Corporation, Resmed, and Koninklijke Philips N.V.

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