The Global Medical Oxygen Cylinders Market size was valued at USD 2,650.4 million in 2021 and exhibiting a CAGR of 3.9% during the forecast period from 2021 to 2030. The rising cases of chronic obstructive pulmonary diseases as well as rising technological advancements for the miniaturization of oxygen cylinders are the driving factors that are going to increase the market demand.
Additionally, manufacturers are coming up with new technologies which aim in improving the quality of care. The rising prevalence of Chronic Obstructive Pulmonary Disease (COPD), as well as other lungs diseases, is another prime factor that boosts the market growth. An increasing geriatric population base will act as a high impact rendering factor. On the other hand, aged people are at a higher risk of acquiring certain disorders like Chronic Obstructive Pulmonary Disease (COPD). This is because ageing results in declining in the effectiveness of the defense mechanism of the lung with weakness of respiratory muscles. Furthermore, there is a decrease in natural fresh airflow and the maximum amount of air that can be exhaled after maximum inhalation.
The increasing number of chain smokers, as well as growing exposure to dust and pollution, will propel the market growth. The smoke released by the cigarette contains chemicals that are absorbed by the lungs that result in cell and tissue damage. The inhalation of the dust particles may also result in inflammation of bronchitis and the trachea. All these factors increase the risk of suffering from respiratory problems.
The lack of availability of these devices in developing economies will restrain the market growth. The low product availability is directly related to a lack of infrastructure and cost. There is also a risk of operational hazards owing to improper and unsafe storage practices which lead to serious injuries that affect the market growth.
The developed regions like Europe and North America have a wide range of facilities and resources whereas the low to middle-class countries that include India has witnessed a high scale demand for oxygen cylinders with disruptions and delays in the supply chain. With increasing demand among the customers along with the inflated prices, the industry is projected to witness considerable growth in terms of revenue. Moreover, the market will also experience demand for fixed as well as portable devices due to the presence of a huge patient base in home care and hospitals. Hence, the global market will drive the healthcare sector rapidly over the forecast period.
The increasing awareness among people as well as patients related to the benefits related to the use of medical oxygen cylinder has been impacting the growth of the oxygen cylinders market. The oxygen that is offered in the purest form to the medical devices, as well as the formation of the cylinders, is the prime factor that is propelling the market growth. Apart from these the increased breathing problems and the awareness among the people for personal healthcare are the major opportunities for the growth of the medical oxygen cylinders market.
The fluctuations in price and availability of oxygen cylinders are majorly restraining the market growth. Additionally, the improper handling, as well as management of oxygen cylinder, may also cause serious injuries that are negatively impacting the global oxygen cylinder market growth.
Impact Of COVID-19 on Global Medical Oxygen Cylinder Market
COVID-19 pandemic has impacted positively the global oxygen cylinders market. The coronavirus infection will affect the lungs in no time which reduces the breathing rate of patients. Thus, according to the healthcare authorities, oxygen therapy is a must for moderate to severely infected patients.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the portable oxygen cylinder market include Inogen, OXY99, AMS, Linde, The MEL Group, AL-CAN EXPORTS PVT.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Portable Oxygen Cylinder Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/portable-oxygen-cylinder-market/download-sampleMarket DynamicsThe market is mainly driven by numerous factors such as the rising geriatric population, rising number of smokers, and exposure to dust particles.
Aging leads to respiratory muscles weakening, which increases the chances of acquiring diseases related to the respiratory system.
In addition, dust particles inhalation through exposure to the environment results in bronchitis and trachea, which are expected to drive the market.
Further, changing consumer lifestyle, rising adoption of new technologies, and increase in government expenditure on healthcare facilities are other factors contributing to the growth of the market during the forecast period.
