Global demand for Medical Oxygen Gas Cylinder Market Size, in terms of revenue, was worth of USD 15.41 Billion in 2020 and is expected to reach USD 23.64 Billion in 2027, growing at a CAGR of 6.3% from 2020 to 2027. The global Medical Oxygen Gas Cylinder is expected to grow at a significant rate due to the number of driving factors.
Covid-19 has positively impacted the growth of global medical gas oxygen cylinder market. During Covid-19 pandemic, the rising number of COVID-19 cases has essentially accelerated the demand for medical oxygen gas cylinders for intensive care. The requirement for oxygen has expanded to 1.1 million cylinders in low to center pay countries alone due to increasing number of COVID-19 patients. Number of countries are embraced pre-emptive measures to guarantee a satisfactory supply of oxygen to treat COVID-19 patients. For example, in March 2020, Tenaris' Dalmine consistent plant in Italy announced that it requested 4,300 clinical evaluation oxygen gas cylinders as the Lombardy area of the nation was seriously influenced by the effect of COVID-19. These elements are positively impacting the development of the global medical oxygen gas cylinder market.
medical gas oxygen cylinder top Manufacturers:
Some major key players for global medical gas oxygen cylinder market report cover prominent players Nidek Medical Products, Inc., Catalina Cylinders, ResMed, Inogen, Inc., Airgas Inc, Koninklijke Philips N.V., Messe Düsseldorf GmbH, ROYAX, Cramer Decker Medical, AirGenics Inc, Bright Medi- Weld Appliances, Invacare Corporation, DeVilbiss Healthcare LLC, Allied Healthcare Products Inc, Messer Group GmbH, Praxair Inc., Air Products Inc, Luxfer Gas Cylinders, OrientMEd International, AirGenics Inc, TECNO-GAZ SpA, and others.
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The major factors driving the growth of global medical gas oxygen cylinder market are increasing product launches for medical oxygen system for homecare settings and hospitals. The huge number of the hospitals and healthcare organizations are introducing centralized oxygen systems in medical clinics, to guarantee the huge measure of supply to the patients. Also, homecare setting segments is likewise contributing significantly to development of the market, attributable to launch of portable oxygen systems in the market.
Oxygen gas cylinders are required for the increasing demand from medical clinics, home care settings and many others. Medical oxygen gas cylinders are available in various sizes relying on the requirement. In Hospitals, oxygen gas treatment is executed on the patients for the therapy of chronic health issue to improve energy levels, rest and a superior quality life of patients. Oxygen is generally utilized in medical clinics for the therapy of various intense and chronic diseases. Theses clinical oxygen chambers are generally utilized in the ambulance to manage emergency circumstances. The medical oxygen gas cylinders have huge need for the patients facing different infections like asthma, disease, etc.
However, high cost of oxygen gas cylinders may hamper the market growth. In spite of that, rising investments in the healthcare and the increasing technological development in the medical oxygen gas cylinders market can offer more opportunities for the further growth in forecast period.
News: Non-Limited Life Medical Cylinder Launched by Luxfer, as COVID-19 Increases Demand for Solutions to Help Millions with Respiratory Conditions
On October 16th, 2020; Luxfer Gas Cylinders launched its first Non-Limited Life (NLL) medical cylinders to support the healthcare industry. Coronavirus prompts the advancement of new innovations to assist in oxygen treatment for the large numbers with respiratory-related disease. The new cylinder from Luxfer used to help patients influenced by conditions that make breathing difficult, including COVID 19. Additionally Chronic Obstructive Pulmonary Disease (COPD), which influences 65 million individuals universally and results in more than 3 million deaths worldwide every year. The new Luxfer 1.0 liter NLL carbon composite clinical cylinder is its first item offering with a life expectancy past the common 15-year and 20-year oxygen cylinder contributions accessible today. Currently, the product is bound for medical organizations and it will go under the control of medical services experts who can help patients who need oxygen treatment progressing.
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North America is Expected to Dominate the Global Medical Gas Oxygen Cylinder Market
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