Oxygen Cylinders and Concentrators Market Introduction 

The oxygen cylinders and concentrators market refers to the industry involved in the manufacturing and distribution of oxygen delivery systems, including cylinders and concentrators. These systems are used for delivering medical-grade oxygen to patients suffering from respiratory diseases, such as chronic obstructive pulmonary disease (COPD), asthma, and pneumonia, as well as for emergency medical situations.Oxygen cylinders are portable tanks that store compressed oxygen gas. They are typically made of aluminum or steel and come in various sizes and capacities. Oxygen cylinders are used in situations where a patient needs a large amount of oxygen, such as during transportation to a hospital or when the power supply for a concentrator is interrupted.On the other hand, oxygen concentrators are stationary devices that extract oxygen from the surrounding air and concentrate it for delivery to the patient. They are designed for continuous use in homes, hospitals, and other healthcare settings, and are available in both portable and stationary models. Oxygen concentrators are often preferred over cylinders due to their convenience, cost-effectiveness, and environmental friendliness.The global demand for oxygen cylinders and concentrators has been increasing due to the rising prevalence of respiratory diseases, aging populations, and increasing air pollution levels. Additionally, the COVID-19 pandemic has further accelerated the demand for these systems, particularly in countries experiencing a surge in cases. The market is expected to continue growing in the coming years, driven by technological advancements, government initiatives to improve healthcare infrastructure, and the increasing availability of portable oxygen delivery systems.

Oxygen Cylinders and Concentrators Market Size

The global oxygen cylinders and concentrators market size was estimated to be around USD 2.6 billion in 2020. The market is expected to grow at a compound annual growth rate (CAGR) of around 9.4% during the forecast period (2021-2026).The growth of the oxygen cylinders and concentrators market is attributed to several factors, including the increasing prevalence of respiratory diseases, the aging population, and the rising demand for home-based healthcare solutions. Additionally, the COVID-19 pandemic has further boosted the market growth due to the increased demand for oxygen therapy.The market is segmented based on product type, end-user, and region. Based on product type, the market is further segmented into oxygen cylinders and oxygen concentrators. By end-user, the market is segmented into homecare settings, hospitals, and others.Geographically, North America is expected to hold the largest share of the oxygen cylinders and concentrators market during the forecast period, followed by Europe and the Asia-Pacific region. The growth in these regions is attributed to the increasing adoption of advanced healthcare technologies and the rising prevalence of respiratory diseases.

Oxygen Cylinders and Concentrators Market Share

The global oxygen cylinders and concentrators market is fragmented, with several players operating in the market. Some of the key players in the market are:

Invacare Corporation

Koninklijke Philips N.V.

Inogen, Inc.

Chart Industries, Inc.

Drive DeVilbiss Healthcare

GCE Group

Inova Labs Inc.

Linde Group

CAIRE Inc.

Precision Medical Inc.

These players are actively involved in the development and production of advanced oxygen delivery systems, including cylinders and concentrators. They are also focusing on product innovations, strategic partnerships, and collaborations to expand their market presence.Based on product type, oxygen concentrators are expected to hold a larger share of the market due to their convenience and cost-effectiveness compared to oxygen cylinders. Additionally, the homecare settings segment is expected to hold the largest share of the market due to the increasing adoption of home-based healthcare solutions and the rising prevalence of respiratory diseases among the elderly population.

Oxygen Cylinders and Concentrators Market Trends

Some of the trends in the global oxygen cylinders and concentrators market before my knowledge cutoff were:

Increasing Demand for Portable Oxygen Delivery Systems: The demand for portable oxygen delivery systems, such as portable oxygen concentrators (POCs), is on the rise due to their ease of use, convenience, and improved mobility. POCs are lightweight, battery-powered devices that can provide oxygen to patients who require oxygen therapy outside the home or hospital.

Technological Advancements: Manufacturers are investing in R&D activities to develop advanced oxygen delivery systems that are more efficient, cost-effective, and user-friendly. For instance, some of the latest innovations in the market include smart oxygen delivery systems that can monitor oxygen levels and alert patients or caregivers when oxygen levels fall below a certain level.

Growing Popularity of Home-Based Healthcare Solutions: The trend towards home-based healthcare is on the rise due to several factors, including the aging population, rising healthcare costs, and the COVID-19 pandemic. Home-based oxygen delivery systems, such as concentrators, are increasingly being preferred by patients due to their convenience and cost-effectiveness compared to hospital-based oxygen therapy.

Increasing Government Initiatives: Governments across the world are taking initiatives to improve healthcare infrastructure and increase the availability of oxygen delivery systems, especially in developing countries. For instance, in India, the government launched the "Oxygen Express" initiative to transport oxygen cylinders and concentrators to hospitals and healthcare facilities in need.

Rising Prevalence of Respiratory Diseases: The prevalence of respiratory diseases, such as COPD, asthma, and pneumonia, is on the rise due to factors such as air pollution, smoking, and the aging population. This has led to an increase in demand for oxygen delivery systems, such as cylinders and concentrators, to manage respiratory diseases.

Oxygen Cylinders and Concentrators Market Driving factors

Some of the driving factors of the global oxygen cylinders and concentrators market before my knowledge cutoff were:

Increasing Prevalence of Respiratory Diseases: The rising prevalence of respiratory diseases, such as COPD, asthma, and pneumonia, is a key driver of the oxygen cylinders and concentrators market. Respiratory diseases are a leading cause of death worldwide, with approximately 3 million deaths per year attributed to chronic obstructive pulmonary disease (COPD) alone.

Aging Population: The aging population is another significant driver of the oxygen cylinders and concentrators market. As people age, the risk of developing respiratory diseases increases, leading to an increased demand for oxygen delivery systems, such as cylinders and concentrators, to manage these diseases.

Increased Demand for Home-Based Healthcare Solutions: The trend towards home-based healthcare solutions is on the rise due to several factors, including the aging population, rising healthcare costs, and the COVID-19 pandemic. Home-based oxygen delivery systems, such as concentrators, are increasingly being preferred by patients due to their convenience and cost-effectiveness compared to hospital-based oxygen therapy.

Technological Advancements: Technological advancements, such as the development of portable oxygen concentrators (POCs), are driving the market growth. POCs are battery-operated, lightweight devices that can be carried by patients to provide oxygen therapy outside the home or hospital, thus improving the mobility and quality of life of patients.

Increasing Government Initiatives: Governments across the world are taking initiatives to improve healthcare infrastructure and increase the availability of oxygen delivery systems, especially in developing countries. For instance, during the COVID-19 pandemic, several governments took initiatives to import and distribute oxygen cylinders and concentrators to hospitals and healthcare facilities in need.

Oxygen Cylinders and Concentrators Market Regional Analysis

The global oxygen cylinders and concentrators market was analyzed based on various regions, including:

North America: North America held a significant share of the global oxygen cylinders and concentrators market due to the increasing prevalence of respiratory diseases, technological advancements, and the rising demand for home-based healthcare solutions.

Europe: Europe was another prominent market for oxygen cylinders and concentrators due to the presence of a large elderly population, increasing government initiatives, and the rising prevalence of respiratory diseases.

Asia-Pacific: The Asia-Pacific region was projected to be the fastest-growing market for oxygen cylinders and concentrators due to the rising prevalence of respiratory diseases, increasing government initiatives, and the growing demand for home-based healthcare solutions. India and China were the major contributors to the growth of the Asia-Pacific oxygen cylinders and concentrators market.

Latin America: Latin America was another growing market for oxygen cylinders and concentrators due to the increasing prevalence of respiratory diseases, the rising aging population, and increasing government initiatives to improve healthcare infrastructure.

Middle East and Africa: The Middle East and Africa were expected to witness significant growth in the oxygen cylinders and concentrators market due to the increasing prevalence of respiratory diseases and the rising demand for home-based healthcare solutions.

Oxygen Cylinders and Concentrators Market Forecasts 2030 

The global oxygen cylinders and concentrators market was projected to reach USD 7.58 billion by 2030, growing at a CAGR of 7.9% during the forecast period from 2021 to 2030.The increasing prevalence of respiratory diseases, the growing demand for home-based healthcare solutions, and technological advancements in the oxygen delivery systems are expected to drive the growth of the market during the forecast period. In addition, the COVID-19 pandemic has further accelerated the demand for oxygen delivery systems, especially in developing countries, which is expected to boost the market growth in the coming years.The Asia-Pacific region was expected to witness the highest growth rate during the forecast period, driven by the increasing prevalence of respiratory diseases, the growing aging population, and rising government initiatives to improve healthcare infrastructure in the region. The portable oxygen concentrators segment was expected to witness significant growth due to its ease of use and convenience, especially in the home-based healthcare settings. 

Oxygen Cylinders and Concentrators Market Key Industry Players

Some of the key players in the global oxygen cylinders and concentrators market included:

Chart Industries Inc.

DeVilbiss Healthcare LLC

Inogen Inc.

Invacare Corporation

Linde AG

Nidek Medical Products Inc.

Koninklijke Philips N.V.

Precision Medical Inc.

ResMed Inc.

Teijin Limited

These companies are actively involved in product launches, collaborations, and partnerships to expand their market presence and gain a competitive edge. For instance, in August 2021, Inogen Inc. announced the launch of the Inogen One G5 portable oxygen concentrator in Europe, expanding its product portfolio in the region. Similarly, in June 2021, ResMed Inc. announced a strategic partnership with Verily to develop a new generation of digital health solutions for sleep apnea and other respiratory conditions.