Oxygen Cylinders and Concentrators Market to surpass $4.5 bn by 2024
The research report "Oxygen Cylinders and Concentrators Market Size By Product (Portable, Fixed), By Application (Healthcare, Pharmaceutical & Biotechnology, Manufacturing, Aerospace & Automotive, Others), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" by Global Market Insights, Inc. says, Oxygen Cylinders and Concentrators Market size is set to exceed USD 4.5 billion by 2024.
Increasing prevalence of COPD, asthma and other respiratory disorders will drive market growth over the forecast years. Excessive smoking and exposure to industrial dust will deteriorate the air quality leading to respiratory illness. Climate change further poses a massive threat to respiratory health as it increases risk factors such as amounts of pollens, allergens and particulate matter.
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Growing demand for adventure sports such as scuba diving and mountaineering will fuel industry growth. The lack of oxygen at higher altitudes and deep-sea levels stimulates the need for oxygen cylinders which ensures a regular and continuous supply. Absence of these devices can lead to headache, dizziness, suffocation and death.
However, risk of operational hazards associated with the devices impedes industry expansion. Oxygen is non-flammable but it supports combustion and its improper or unsafe use or storage may lead to serious injuries.
Browse key industry insights spread across 150 pages with 60 market data tables & 12 figures & charts from this 2017 report Oxygen Cylinders and Concentrators Market in detail along with the table of contents at:
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Portable devices dominated the oxygen cylinders and concentrators market in 2016. The compact nature and light weight of these devices provides increased mobility and ease of use. However, comparatively higher costs of these devices hampers adoption to some extent.
Pharmaceutical and biotechnology is slated to grow at a rapid pace over the forecast period. Oxygen is critical for cell growth applications and is routinely used in fermenters and bioreactors. Furthermore, enrichment with the gas can enhance bioreactor performance and capacity.
U.S. oxygen cylinder and concentrators market held significant industry share. Increasing proportion of elderly population along with increased occurrence of respiratory disorders should drive industry growth. As per American Lung Association, COPD is the third leading cause of death in the country. Presence of a well-established industrial infrastructure in the country will further stimulate demand.
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China oxygen cylinder and concentrators market is slated to witness robust growth over the forecast period. The economic boom and drastic rise in GDP has resulted in a surge in motorized vehicles as more number of individuals are now capable of buying them. Moreover, the increased production output from steel and cement industries and burning of coal in factories has worsened the quality of air and has given rise to the problem of smog. Exposure to the increasing pollution and dust has escalated incidence of various respiratory disorders in the region which will fuel industry growth.
Prominent industry participants include Inogen, Tecno Gaz, Koninklijke Philips N.V., Cramer Decker, Air Liquide, Chart Industries, HERSILL, Catalina Cylinders, MeBer, and Invacare. The industry players resort to various strategies such as partnerships, developing new products and acquisitions for broadening their product portfolio and strengthening industry presence.
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Homecare Oxygen Concentrators Market Size By Product (Portable Oxygen Concentrators, Compressed Gas Oxygen Cylinders, Liquid Oxygen), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, Japan, Brazil, South Africa), Price Trends, Competitive Market Share & Forecast, 2016 – 2023
https://www.gminsights.com/industry-analysis/homecare-oxygen-concentrators-market
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