Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Medical oxygen cylinders are widely used in medical emergency cases that contain oxygen at high pressure or liquid form. It contain only pure oxygen gas, to prevent contamination, no other types of gases are allowed in the cylinder. It is stored in tempered steel containers that are used to keep oxygen at high pressure. Oxygen cylinders have wide application in medical or diagnostic purposes. It is available in various sizes based on the usage. The oxygen must be in the purest form to the medical devices and the formation of the cylinders is the important step. This is non-reactive compressed O2 which is widely applicable for medical, therapeutic or diagnostic purposes.
The factors that are responsible for the market growth are increasing Incidence of Respiratory Diseases and rising demand for oxygen gas cylinder for various surgical procedure. Hence, medical oxygen gas cylinders market has been seeing tremendous growth from the past few decades. Likewise, growing cases of COVID 19 in the region which requires oxygen gas hence demand for medical oxygen gas cylinder has increased will fuel growth of the market. Nevertheless, stringent regulatory procedures and high costs of oxygen cylinders are the major restraining factor that could hamper the growth of the market.
The COVID 19 is severe acute respiratory syndrome that causes an infection to respiratory system and low oxygen saturation so demand for medical oxygen gas cylinder has increased. This pandemic has resulted in escalation of patients to emergency healthcare departments so this will impact the market in coming years. Due to rise in chronic diseases among all populations there will be increasing demand for oxygen gas cylinders which is the driving factor for market in the appraisement period. Hence, COVID 19 has positively affected the market growth.
The study analyses North America Medical Oxygen Gas Cylinders market based on technology, product, end users and country.
The various technologies the medical oxygen gas cylinders market is bifurcated into Plus Flow and Continuous Flow. The continuous flow segment accounted for the largest market share in 2020 owing to, rise in burden of increasing cases of COVID-19 and increase in target population. Besides this, growing prevalence of chronic diseases like cardiovascular diseases, respiratory diseases, and gastrointestinal disorders will boosts market growth.
Based on the products involve in medical oxygen gas cylinders market is segmented into portable and fixed. The fixed segment dominated the global market in 2020 and expected to maintain its dominance in forecast period owing to, rise in demand for medical oxygen gas cylinders along with increasing chronic pulmonary cases. Likewise, growing surgical procedures that requires anesthesia will impede market growth.
By the end users included in the medical oxygen gas cylinders market is classified into hospitals, home healthcare and others. The hospital segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period 2021-2027 because of, the factors driving market growth technological advancements using portable oxygen cylinders for home care settings create huge opportunities for the market. Besides this rise in chronic cases causes increasing trends towards use of oxygen gas cylinders will fuel growth of the market.
Country wise, the study is comprised of the key countries such as the Unites States (US), Mexico and Canada. The US held the largest market share of North America medical oxygen gas cylinders market and is likely to dominate the market over the forecast period 2021-2027. The country’s such as US, Mexico and Canada, surge rise in demand for market due to increasing expenditure to healthcare sector.
The major market key players include Koninklijke Philips N.V (Netherlands), Invacare Corporation (United States), Nidek Medical Products, Inc. (United States), Inogen, Inc (United States), Messe Düsseldorf GmbH (Germany), ResMed (United States), DeVilbiss Healthcare LLC (United States0, Airgas Inc (United States), Messer Group GmbH (Germany), OrientMEd International. (Dubai), TECNO-GAZ SpA (Italy), Allied Healthcare Products Inc (United States), Praxair Inc (United States), ROYAX (India), AirGenics Inc (United States), Air Products Inc (United States), Luxfer Gas Cylinders (United States), Cramer Decker Medical (United States)and Catalina Cylinders (United States).
Recent Developments
October 2020: Luxfer Gas Cylinders launched its first Non-Limited Life (NLL) medical cylinders to support the healthcare industry.
September 2018: GCE introduced MediVitop, a new One-Knob Cylinder Valve with Integrated Pressure Regulator.
April 2018: Air Liquide acquired EOVE (France) to increase its presence in the home healthcare market. EOVE is a startup company specialized in the manufacturing of ventilators for home-based patients suffering from chronic respiratory failure.
March 2020: AirGenics the retest US second-generation company has started to convert inert gas cylinders into medical oxygen cylinders to meet the soaring demands for oxygen needed to treat coronavirus patients
The study analyses North America medical oxygen gas cylinders market based on technology, product, end users and country. Medical oxygen gas cylinders consist of compressed oxygen gas used for medical purpose. The various products involve in oxygen gas cylinders are portable and fixed. The wide application of oxygen gas cylinders for the patients suffering from various diseases like asthma, cancer, etc. Technological advancements in the medical oxygen gas cylinders along with rising awareness towards use of oxygen cylinder are factors that are anticipated to fuel the medical oxygen gas cylinders market. The optimal medical infrastructure utilization is the major factors that driving market growth. Nevertheless, oxygen cylinders are needed for the rising demand of hospitals, home care setting hence it is expected to impede market growth over the forecast period 2021-2027. Country wise study comprises countries like US, Mexico and Canada. The US held the largest market share of North America medical oxygen gas cylinder market and is likely to dominate the market over the estimated time frame due to advancement in technologies.
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