According to a new market research report published by Report Ocean, the Medical Oxygen Concentrators Oxygen Cylinders Market is anticipated to grow at a CAGR of $%, during the forecast period. The market is estimated to reach USD 4.75 billion by 2030. 

This detailed market research report by Report Ocean include in-depth analysis of technological innovations, market trends, supply chain trends, future trends, leading players, and key developments. The report also includes additional information about other factors such as drivers, restraints and challenges faced by this market, along with an overview for each mentioned segment in the study. 

The medical oxygen concentrators & oxygen cylinders market size is expected to reach USD 4.75 billion by 2030.

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The U.S. current-account deficit increased and reached US$ 234.8 billion in Q4 2021. However, the Canadian Dollar exchange (CAD) increased by 29.9% in Q1 22 to reach US$ 294.4 billion, widening the imbalance by US$ 68.6 billion. In the first quarter of 2022, exports of goods and services rose by US$ 27.7 billion, totaling US$ 1.07 trillion. However, the nation’s goods and services deficit decreased to US$ 79.9 billion in June from US$ 87.9 billion in May, which was corrected, a US$ 5.7 billion decrease that indicated some relief. On the other hand, the annual inflation rate in the country hit 8.7%.

The logistics price increased by 34.9% in July 2022, disrupting the supply chain, while electricity prices increased by 15.5%, the highest level since February 2006. Besides that The number of existing U.S. homes sold in July 2022 decreased by 5.95% to 4.85 million (seasonally adjusted annual rate), which was the lowest number since May 2020 and under the market’s forecast of 4.89 million. The home sector sales fell for the sixth month in a row as the mortgage rate reached its highest point at 6.3%. The U.S. economy continues to be heavily impacted by the global energy crisis, causing people to spend less and conserve more.

Medical concentrators and cylinders are medical oxygen systems that are used to treat respiratory ailments and are commonly preferred by older patients who have limited mobility and rely on a consistent market supply. A few common chronic health conditions, such as chronic obstructive pulmonary disease (COPD), emphysema, and chronic bronchitis, necessitate oxygen therapy or supplementary oxygen.

The emergence of the COVID-19 pandemic has given significantly boosted market growth for medical concentrators and cylinders. By April 2021, nearly 150 million Covid-19 cases had been diagnosed around the world, with no indication of the pandemic slowing down in many areas. India is facing a huge supply crisis as a result of the flaming COVID-19 pandemic, and in April 2021, the central government has agreed to import concentrators and cylinders from the United States and has placed an order for ten thousand concentrators, which is expected to start import within a week.

The need for these concentrators and cylinders has also increased in the market in recent years due to the increased prevalence of chronic obstructive pulmonary disease (COPD), and other respiratory illnesses. According to American Lung Association, in 2018, over 16.4 million (6.6% adults), US adults were diagnosed with any type of COPD, around 9 million with chronic bronchitis, and 2.0 million with emphysema.

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The increasing market demand for medical concentrators and cylinders has resulted in the introduction and approval of new products in the market. For instance, In April 2021, Belluscura received US FDA approval for its X-PLO�??R portable concentrators. It is a lightweight system that is specifically designed to treat COPD and other respiratory disorders.

Exalta, based in New Delhi, India, has introduced a portable mini ventilator with an integrated concentrator, in April 2021, to help market consumers deal with decreasing O2 levels due to coronavirus outbreaks. The mini ventilators are water based pure O2 concentrators that delivers 1 to 8 liters of oxygen per minute.

Major Players: Koninklijke Philips N.V. (Philips Respironics), CAIRE INC., Drive De Vilbiss Healthcare Inc., Invacare Corporation, Inogen Inc., Nidek Medical Products, Inc., O2 Concepts, LLC, Oxy Go, LLC, Precision Medical, Inc., ResMed, Linde plc, GCE Group (GCE Healthcare) and Cramer Decker Medical, Inc., are some of the key market players operating in the global market for medical O2 concentrators and O2 cylinders.

Medical Oxygen Concentrators & Oxygen Cylinders, Technology Outlook (Revenue – USD Million, 2016 – 2028)

Medical Oxygen Concentrators & Oxygen Cylinders, Product Outlook (Revenue – USD Million, 2016 – 2028)

Medical Oxygen Concentrators & Oxygen Cylinders, End-users Outlook (Revenue – USD Million, 2016 – 2028)

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Medical Oxygen Concentrators & Oxygen Cylinders, Regional Outlook (Revenue – USD Million, 2016 – 2028)

Major highlights of the Table of Contents of the study:

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The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level. Reports on the market include the growth rates of each region, which includes their countries, over the coming years.

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