Oxygen Cylinders And Concentrators Market Report
Oxygen Cylinders and Concentrators Market by Type (Portable and Fixed), End-Use (Healthcare, Pharmaceutical & Biotechnology, Manufacturing, Aerospace & Automotive), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031
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Global Oxygen Cylinders and Concentrators Market Analysis
The Global Oxygen Cylinders and Concentrators Market Size was $4,151.6 million in 2021 and is predicted to grow with a CAGR of 4.6%, by generating a revenue of $6,658.5 million by 2031.
Global Oxygen Cylinders and Concentrators Market Synopsis
Due to the rapid growth in the healthcare, manufacturing, and other industries, oxygen cylinders and concentrators market demand in the coming years is anticipated to grow. Oxygen concentrators provide a wide range of advantages such as uninterrupted oxygen supply and are portable and convenient to carry with the patient. Oxygen concentrators are user friendly and help the patients in conditions such as breathlessness, shortness of breath, and others.
It is anticipated that significant technological advancements in respiratory equipment and medical oxygen devices will boost the demand for oxygen cylinders and concentrators worldwide. Companies are investing huge on R&D operations to build cutting-edge technology gadgets for better use by patients suffering from respiratory ailments as the need for sophisticated oxygen equipment is significantly increasing. For instance, Teijin, a Japanese pharmaceutical, chemical, and information technology (IT) business, declared that Hai Sanso 5S, a smart oxygen concentrator, would be unveiled in South Korea for the first time in June 2021. The voice guiding system included into this concentrator alerts the patient when the equipment requires inspection and offers solutions, notably in Korean.
According to regional analysis, the North America oxygen cylinders and concentrators market accounted for the highest market share in the year 2021. According to the report published by U.S. Centers for Disease Control and Prevention in 2021, the U.S. needs more than seven billion respirators per year, which can be provided to the medical equipment industry in order to prevent the worst-case spread of a severe respiratory outbreak like COVID-19. These factors are predicted to boost the North America oxygen cylinders and concentrators market.
Oxygen Cylinders and Concentrators Overview
A patient with low blood oxygen levels and respiratory problems can receive oxygen through an oxygen concentrator. These concentrators and cylinders are well regarded for being safe, dependable, easy to operate, and less expensive. The oxygen from the ambient air is compressed and filtered by these concentrators.
COVID-19 Impact on Global Oxygen Cylinders and Concentrators Market
The coronavirus pandemic has largely boosted the healthcare sector and accelerated its growth curve. The second wave of the pandemic attacked the respiratory system of the people worldwide which made them suffer from many different and dangerous respiratory diseases. This led to millions of deaths worldwide. Amid such health challenges, the demand for oxygen cylinders and concentrators increased, which boosted the growth of the market. To counter the rising demand for oxygen, many companies stepped forward to support the healthcare system and manufacture oxygen concentrators in bulk quantities. For instance, according to a news published in BW Business World, on July 15, 2021, Bharat Heavy Electricals Limited (BHEL), using CSIR-IIP technology, set up the manufacturing plant for medical oxygen cylinders. Such developments are expected to drive the market of oxygen cylinders and concentrators in the coming years. Also, many countries have come forward to help the other severely affected countries in tackling the rising demand for oxygen supply. For instance, according to a news published on The Economic Times, on May 13, 2021, Indonesia donated 200 oxygen concentrators to India to cope up with the increasing demand for medical oxygen amid rising COVID-19 cases. Such factors are expected to contribute the growth of the market in the stipulated time period.
Growing Demand from Healthcare Sector to Drive the Oxygen Cylinders and Concentrators Market Growth
The market is driven largely by the healthcare and medical sector. These oxygen concentrators are primarily used for treating respiratory conditions, such as bronchitis, emphysema, asthma, and COPD, which are frequent disorders in the elderly. Due to the use of oxygen cylinders in numerous applications, including the oxidation process, reducing NOx emissions from glass and ceramics, and coal gasification, the manufacturing industry is experiencing an increase in the consumption of oxygen cylinders.
To know more about global oxygen cylinders and concentrators market drivers, get in touch with our analysts here.
Lack of Oxygen Concentrators Anticipated to Restrain the Market Growth
The market is restrained by lack of availability of oxygen concentrator devices, price of the device and lack of infrastructure for the production of devices. Improper storage and unsafe operation may lead to serious injuries. Oxygen concentrators need to be maintained in a good condition as they purely work with the help of electricity, and the major function of these devices is to supply uninterrupted oxygen supply to the patients. Additionally, the cost for setting up a manufacturing unit of oxygen cylinders and concentrators is much higher. These factors are anticipated to hamper the market growth.
Rapid Growth in Research and Development Activities are Anticipated to Create Growth Opportunities
Future market growth is anticipated to be driven by rising technological developments in oxygen cylinders and concentrators. Researchers and scientists have stepped up their research and development activities to create cutting-edge technology products for better use by patients suffering from respiratory ailments as the demand for oxygen cylinders and concentrators is rising at an alarming rate. For instance, researchers at the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), Bengaluru, India, have created a mobile oxygen concentrator called OxiJani that can be used in rural areas and can also be quickly deployed for emergencies in any location, according to news published in EET India in June 2021. On June 30, 2021, engineering students at Lords Institute of Engineering & Technology (LIE&T), Hyderabad, invented and created a dual-use oxygen concentrator from a water purifier for emergency use, according to another case published in The Hans India. These factors are anticipated to create better growth opportunities for the growth of oxygen cylinders and concentrators market.
To know more about global oxygen cylinders and concentrators market opportunities, get in touch with our analysts here.
Global Oxygen Cylinders and Concentrators Market, by Type
Based on type, the market has been divided into portable and fixed. Among these, the fixed sub-segment accounted for the highest market share in 2021.
Global Oxygen Cylinders and Concentrators Market Size, by Type, 2021
Source: Research Dive Analysis
The fixed type sub-segment accounted for a dominant market share in 2021. When compared to portable oxygen concentrators and cylinders, fixed oxygen concentrators and cylinders are typically heavy and immobile. Also, compared to small portable concentrators, fixed type oxygen concentrators and cylinders produce more oxygen. Furthermore, patients who need a constant flow of oxygen during both inhalation and exhalation are advised to use fixed-type oxygen concentrators and cylinders. Also, the cost of a fixed type oxygen concentrator and oxygen cylinders is three to six times less than that of a portable kind. Additionally, a number of major market players offer a range of stationary oxygen concentrators, including CAIRE Inc., which also sells home oxygen delivery devices like the AirSep VisionAire 5 and the CAIRE Companion 5. These devices deliver oxygen to patients in accordance with their individual oxygen needs. These factors are boosting the demand for portable segment.
Global Oxygen Cylinders and Concentrators Market, by End-use Industry
Based on end-use industry, the market has been divided into healthcare, pharmaceutical & biotechnology, manufacturing, and aerospace & automotive. Among these, the healthcare sub-segment accounted for the highest revenue share in 2021.
Global Oxygen Cylinders and Concentrators Market Forecast, by End-use Industry, 2021
Source: Research Dive Analysis
The healthcare sub-segment is accounted for a dominant market share in 2021. Oxygen cylinders and concentrators assist in providing more oxygen to patients with persistent hypoxemia, pulmonary edema, and COPD. Additionally, oxygen is necessary for patients receiving intense care during situations like surgery, pregnancy, and other medical emergencies. All of these factors will increase the demand in the oxygen cylinders and concentrators market.
The market demand for oxygen cylinders and concentrators will be further growing due to increase in the frequency of accidents and the need for rapid hospitalization and surgery. According to the US government, more than 16 million Americans have COPD and around 9 million have chronic bronchitis, with the majority of these instances being emergency situations. Moreover, a majority of COPD patients have survived by utilizing an oxygen concentrator and cylinder.
Global Oxygen Cylinders and Concentrators Market, Regional Insights
The oxygen cylinders and concentrators market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Global Oxygen Cylinders and Concentrators Market Size & Forecast, by Region, 2021-2031 (USD Million)
Source: Research Dive Analysis
The Market for Oxygen Cylinders and Concentrators in Asia-Pacific was the Most Dominant
In the upcoming years, it is projected that the Asia Pacific oxygen cylinders and concentrators market will generate strong growth prospects to seize significant revenue-producing opportunities. Due to the increase of conventional (Petroleum) cars, population growth, and deteriorating air quality caused by industrial effluents, the China market is predicted to grow significantly over the forecast period. The degraded air can be treated with oxygen concentrators, which will aid in maintaining the atmospheric oxygen content. The above-mentioned factors are anticipated to boost the Asia-Pacific oxygen cylinders and concentrators market over the forecast period.
Competitive Scenario in the Global Oxygen Cylinders and Concentrators Market
Investment and agreement are common strategies followed by major market players. These manufacturers are employing latest strategies to raise the caliber and effectiveness of their products. For instance, DeVilbiss Healthcare recently introduced the "DeVilbiss iFill personal oxygen station" in an effort to get a larger market share in the industry for oxygen cylinders and concentrators.
Source: Research Dive Analysis
Some of the leading oxygen cylinders and concentrators market players are Teijin Limited Company, Inova Labs Inc. (ResMed), NIDEK Medical Products, Philips N.V (Philips Healthcare), Worthington Industries, Inc., Inogen Inc., Chart Industries (AirSep), Invacare Corporation, Koninklijke O2 Concepts and De Vilbiss Healthcare (Drive DeVilbiss Healthcare).
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Type
Segmentation by End-use
Key Companies Profiled
Q1. What is the size of the global oxygen cylinders and concentrators market?
A. The size of the global oxygen cylinders and concentrators market was over $4,151.6 million in 2021 and is projected to reach $6,658.5 million by 2031.
Q2. Which are the major companies in the oxygen cylinders and concentrators market?
A. Chart Industries (AirSep), O2 Concepts and NIDEK Medical Products, Inc. are some of the key players in the global oxygen cylinders and concentrators market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific oxygen cylinders and concentrators market?
A. Asia-Pacific oxygen cylinders and concentrators market is anticipated to grow at 5.7% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Agreement and investment are the two key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Inogen Inc., Invacare Corporation and Worthington Industries are the companies investing more on R&D activities for developing new products and technologies.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
1.5.Market size estimation
2.2.Key objectives of the study
2.5.Overview of the impact of COVID-19 on global oxygen cylinders and concentrators market
4.2.Growth impact forces
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.7.Impact of COVID-19 on oxygen cylinders and concentrators market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Oxygen Cylinders and Concentrators Market, by Type
5.1.1.Market size and forecast, by Type
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2021-2031
5.2.3.Market share analysis, by country 2021 & 2031
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2021-2031
5.3.3.Market share analysis, by country 2021 & 2031
5.4.Research Dive Exclusive Insights
6.Oxygen Cylinders and Concentrators Market, by End-use
6.1.1.Market size and forecast, by End-use
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region, 2021-2031
6.2.3.Market share analysis, by country 2021 & 2031
6.3.Pharmaceutical & Biotechnology
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region, 2021-2031
6.3.3.Market share analysis, by country 2021 & 2031
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region, 2021-2031
6.4.3.Market share analysis, by country 2021 & 2031
6.5.Aerospace and Automotive
6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by region, 2021-2031
6.5.3.Market share analysis, by country 2021 & 2031
6.6.1.Key market trends, growth factors, and opportunities
6.6.2.Market size and forecast, by region, 2021-2031
6.6.3.Market share analysis, by country 2021 & 2031
6.7.Research Dive Exclusive Insights
7.Oxygen Cylinders and Concentrators Market, by Region
184.108.40.206.Market size analysis, by Type,2022-2031
220.127.116.11.Market size analysis, by End-use,2022-2031
18.104.22.168.Market size analysis, by Type,2022-2031
22.214.171.124.Market size analysis, by End-use,2022-2031
126.96.36.199.Market size analysis, by Type,2022-2031
188.8.131.52.Market size analysis, by End-use,2022-2031
7.1.4.Research Dive Exclusive Insights
184.108.40.206.Market size analysis, by Type,2022-2031
220.127.116.11.Market size analysis, by End-use,2022-2031
18.104.22.168.Market size analysis, by Type,2022-2031
22.214.171.124.Market size analysis, by End-use,2022-2031
126.96.36.199.Market size analysis, by Type,2022-2031
188.8.131.52.Market size analysis, by End-use,2022-2031
184.108.40.206.Market size analysis, by Type,2022-2031
220.127.116.11.Market size analysis, by End-use,2022-2031
18.104.22.168.Market size analysis, by Type,2022-2031
22.214.171.124.Market size analysis, by End-use,2022-2031
7.2.6.Rest of Europe
126.96.36.199.Market size analysis, by Type,2022-2031
188.8.131.52.Market size analysis, by End-use,2022-2031
7.2.7.Research Dive Exclusive Insights
184.108.40.206.Market size analysis, by Type,2022-2031
220.127.116.11.Market size analysis, by End-use,2022-2031
18.104.22.168.Market size analysis, by Type,2022-2031
22.214.171.124.Market size analysis, by End-use,2022-2031
126.96.36.199.Market size analysis, by Type,2022-2031
188.8.131.52.Market size analysis, by End-use,2022-2031
184.108.40.206.Market size analysis, by Type,2022-2031
220.127.116.11.Market size analysis, by End-use,2022-2031
18.104.22.168.Market size analysis, by Type,2022-2031
22.214.171.124.Market size analysis, by End-use,2022-2031
7.3.6.Rest of Asia-Pacific
126.96.36.199.Market size analysis, by Type,2022-2031
188.8.131.52.Market size analysis, by End-use,2022-2031
7.3.7.Research Dive Exclusive Insights
184.108.40.206.Market size analysis, by Type,2022-2031
220.127.116.11.Market size analysis, by End-use,2022-2031
18.104.22.168.Market size analysis, by Type,2022-2031
22.214.171.124.Market size analysis, by End-use,2022-2031
126.96.36.199.Market size analysis, by Type,2022-2031
188.8.131.52.Market size analysis, by End-use,2022-2031
184.108.40.206.Market size analysis, by Type,2022-2031
220.127.116.11.Market size analysis, by End-use,2022-2031
7.4.5.Rest of LAMEA
18.104.22.168.Market size analysis, by Type,2022-2031
22.214.171.124.Market size analysis, by End-use,2022-2031
7.4.6.Research Dive Exclusive Insights
8.1.Top winning strategies, 2021
8.3.Market share analysis, 2021
9.1.Chart Industries, Inc.
9.2.O2 Concepts, LLC
9.3.Nidek Medical India.
9.4.Devilbiss Healthcare LLC
9.9.Koninklijke Philips N.V.
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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