Global Oxygen Cylinder and Concentrator Market Predicted to Gather $6,706.7 Million by 2028, Growing at CAGR of 5.1% from 2021 to 2028 [176-Pages] | Issued by Research Dive
Oxygen cylinder and concentrator market is expected to grow by 2028 due to incidence of chronic respiratory diseases. The healthcare sub-segment is expected to be the most profitable. Market in Asia-Pacific region to be the most lucrative.
NEW YORK, Aug. 17, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "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".
As per the report, the global oxygen cylinder and concentrator market is predicted to grow at a noteworthy CAGR of 5.1% in the 2021-2028 timeframe, thereby gathering $6,706.7 million by 2028.
Avail the PDF Sample of Oxygen Cylinder and Concentrator Market (Including Tables, TOC, and Figures)
Dynamics of the Oxygen Cylinder and Concentrator Market
Drivers: In the last few years, there has been a substantial increase in the incidence of chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, etc. This surge in the number of cases of respiratory ailments is expected to push the oxygen cylinder and concentrator market forward. Along with this, there is a growth in the geriatric population across the globe which is anticipated to push the market forward.
Opportunities: There have been massive technological advancements and innovations in respiratory equipment and medical oxygen devices, which is expected to create huge growth and investment opportunities for the market in the forecast period. Moreover, there is an increase in the number of cases of chronic respiratory diseases such as asthma, which is estimated to help the market grow in the forecast period.
Restraints: However, the high investment cost is expected to hamper the growth of the oxygen cylinder and concentrator market.
Impact of Covid-19 on the Oxygen Cylinder and Concentrator Market
The Covid-19 pandemic, since its outbreak, has been catastrophic for several industries and businesses across the globe. However, the oxygen cylinder and concentrator market has been an exception for obvious reasons. Covid-19 essentially causes infection in the respiratory system, thereby limiting the level of oxygen in the body. Hence, the demand for oxygen cylinders and concentrators increased tremendously during the pandemic period in order to provide external oxygen support to the patients which resulted in the growth of the market.
Segments of the Oxygen Cylinder and Concentrator Market
The report has fragmented the oxygen cylinder and concentrator market into different segments based on product, end user, and region.
- By product, the portable sub-segment is expected flourish immensely in the forecast period and garner a revenue of $2,485.6 million by 2028. Portable oxygen concentrators, as the name suggests can be carried anywhere due to their light weight which is why they are highly in demand. This growth in demand is expected to surge the growth rate of this sub-segment in the forecast period.
- By end user, the healthcare sub-segment of the oxygen cylinder and concentrator market is expected to register a revenue of $5,965.8 million by 2028, thereby becoming the most profitable sub-segment. Increasing number of accidents and growing incidence of hospitalizations due to chronic respiratory diseases is anticipated to be the main reasons behind the growth of this sub-segment.
- By regional analysis, the oxygen cylinder and concentrator market in the Asia-Pacific region is expected to be the most lucrative and gather $1,985.2 million by 2028. The high number of Covid-19 cases in China, India, Australia, etc. led to a heavy demand for oxygen cylinders and concentrators, which is predicted to push the market forward.
Significant Oxygen Cylinder and Concentrator Market Players
The significant market players of the oxygen cylinder and concentrator market are
- Chart Industries, Inc.
- Inogen, Inc.
- Resmed
- O2 Concepts
- LLC
- Invacare Corporation
- TEIJIN LIMITED.
- Nidek Medical India.
- Worthington Industries
- Koninklijke Philips N.V.
- Devilbiss Healthcare LLC
These key market players are developing different business strategies like product development, merger and acquisitions, partnerships and collaborations to gain a commanding position in the market.
For instance, in January 2022, NOVAIR, a leading on-site gas production systems manufacturer, announced the acquisition of OGSI - Oxygen Generating Systems Intl., a leading manufacturer of industrial and medical oxygen generators. This acquisition is expected to help NOVAIR immensely as it will be able to cater to the demand of its customers in a much holistic way.
The Research Dive report also summarizes many crucial aspects of the market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio. Buy the Full Report here starting at $2999 (Read-Only)
More about Oxygen Cylinder and Concentrator Market:
- A Short Guide for Oxygen Cylinder and Concentrators: Definition, Types, and Uses
- Several Technological Upgrades in the Oxygen Supply Devices Predicted to Propel the Growth of the Global Oxygen Cylinder and Concentrator Market from 2021 to 2028
Some Trending Article Links:
- The North American orthopedic implants market accounted for $23,461 million in 2018 is expected to reach $30,646 million by 2025, registering a CAGR of 3.9% from 2019 to 2025: Access to PDF Sample
- North America mechanical ventilator market was valued at $623.4 million in 2018 and is projected to reach $963.4 million by 2025, growing at a CAGR of 6.3% from 2019-2025: Grab an PDF Sample
- The global intracranial pressure monitoring devices market size was valued at US $ 1,256.6 Million in 2018 and is projected to reach US $ 1,625.7 Million by 2026, registering a CAGR of 3.3% from 2019 to 2026: Request PDF Sample
About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
Contact:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York NY 10005
(P) +91-(788)-802-9103 (India)
+1-(917)-444-1262 (US)
Toll Free: 1-888-961-4454
E-mail: [email protected]
Website: https://www.researchdive.com
Blog: https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521
Logo: https://mma.prnewswire.com/media/997523/Research_Dive_Logo.jpg
SOURCE Research Dive
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article