Due to increase requirement in Healthcare segment and Demand for adventure sports makes Oxygen Cylinder and Concentrator Market to reach $5,052.1 million by 2026 at a CAGR of 8.7%

Global warming is an alarming threat to the Earth's atmosphere. Not just the atmosphere, now it has also started affecting the health of people suffering with chronic disorders like respiratory issues including asthma, emphysema, bronchitis, and COPD which are a common problem in elderly people. These diseases are enforcing a huge health burden all across the world. Increasing air and water pollution owing to climate change are the main causes of both respiratory infections and growth of chronic respiratory diseases. According to a study, Oxygen Cylinder and Concentrator Market by Research Dive, the market is expected to reach $5,052.1 million by 2026, registering a CAGR of 8.7% from 2019-2026. Growing utilization from different applications and increasing focus on consumption are some of the oxygen cylinder and concentrator market drivers.

1 Oxygen therapy as a solution

To tackle the respiratory issues of people, the medical and pharmaceutical industry has come up with oxygen therapies to enable patients to get sufficient oxygen into their bodies on their own. Oxygen cylinders and oxygen concentrators are medical devices that offer oxygen therapy. Both of these devices deliver oxygen to patients who have problem in their normal breathing functions. However, both have different ways of delivering oxygen.

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An oxygen cylinder comes with a fixed amount of oxygen compressed within it and can be inhaled by the patient until it runs out. Whereas, an oxygen concentrator is similar to an air conditioner it takes in air, modifies it, and delivers it in a new form. An oxygen concentrator is a device that is used to deliver oxygen to a person who have low level of oxygen in the blood. These concentrators and cylinders are considered as a highly stable, secure, and easy to use devices which take air from the atmosphere and compresses the oxygen. Liquid and compressed are two main forms of oxygen concentrators, which are at present used in the market.

2 Rising demand for oxygen cylinders and concentrators

Increase in the number of patients suffering from respiratory issues, growing number of smokers, and exposure to dust particles are causing severe lung disorders. Hence, nowadays, many hospitals and clinics are in need of large quantities of oxygen cylinders and concentrators for treating respiratory problems.
On the other hand, growing usage of oxygen cylinders in the manufacturing companies is another factor, which is boosting the demand for oxygen cylinder and concentrator all across the world. This is mainly because oxygen is profoundly used in several application areas, for example, in frame cutting, welding, and also in blast furnace to make steel and oxidation process.

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Apart from this, the demand for oxygen cylinder and oxygen concentrator devices from the aerospace and automotive sectors is also increasing. These devices play the role of an oxygen supplier in case of emergency situations in pressurized aircrafts that are certified to operate above 25,000.

3 Market players to enter in a race to be at the forefront

Considering the growing demand for oxygen cylinder and concentrator devices several companies are now investing in the oxygen cylinder and concentrator market. CAIRE, an oxygen supply producer located in Georgia, has introduced an innovative FreeStyle Comfort portable oxygen concentrator equipped with autoSAT technology. AutoSAT is a verified self-adjusting, registered clinical feature which ensures consistency of the device in terms of delivery of oxygen bolus--as the user's respiratory rate keeps on changing throughout his/her daily activities.

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Barry Hassett, the Vice-President of Global Marking at CAIRE stated that the FreeStyle Comfort is sure to turn out as an essential part for home care suppliers that deliver oxygen cylinders and concentrators to their patients, and also build a successful retail sales program all across the globe. The growing improvements in this newly invented device will definitely accomplish the company's goal of bringing convenient and clinically effective oxygen therapy devices for people who are suffering from Chronic Obstructive Pulmonary disorder. The new device is quite comfortable to use because of its unique ergonomic structure. Also, the device meets FAA rules for usage in commercial aircrafts and provides wireless connectivity to CAIRE's telehealth solution, CAIREview.

Apart from CAIRE, there are several other companies contributing the growth of the oxygen cylinders and concentrators industry. The companies operating in this market are continuously increasing their investments in new product developments in order to hold a leading position in the market. Some of these companies include NIDEK Medical Product, Inc., Invacare Corporation, Koninklijke Philips N.V. (Philips Healthcare), Chart Industries (AirSep), Inogen Inc., De Vilbiss Healthcare (Drive DeVilbiss Healthcare), Inova Labs Inc. (ResMed), Worthington Industries, O2 Concepts, Teijin Limited Company and many more.

Among these, DeVilbiss Healthcare, a global leader in the design, manufacture, and marketing of respiratory medical products has redesigned and reintroduced one of its products called DeVilbiss iFill personal oxygen station for the North America and Asia-Pacific regions. This product was invented in 2015 with an aim to grab hold of a major share of the oxygen cylinder and concentrator industry.

The product is developed to supply pressurized oxygen which is used to fill oxygen cylinders for patients' ambulatory use. The device can supply approximately 93% oxygen which can be used in homes, nursing homes, and patient care services. It ensures patients safety and helps them to fill portable cylinders more conveniently in their own homes. This product also allows healthcare suppliers to implement a non-delivery or limited delivery business model and serve more patients without the need to invest in additional staff or expensive services.

4 Future of the oxygen cylinders and concentrators sector

The market for oxygen cylinders and concentrators is on the verge of reaching heights in the near future. This can be backed by the statistics offered by a research report by Research Dive. The report states that the oxygen cylinder and concentrator market is expected to generate a revenue of $5,052.1 million by the end of 2026 and grow at a CAGR of 8.7% from 2019 to 2026. Nowadays, government is actively taking initiatives for controlling air pollution which can bring in several opportunities for oxygen cylinders and concentrators manufacturers to grow their business. Apart from this, the growing popularity of adventure sports such as scuba diving and trekking are expected to further fuel the growth of the oxygen cylinders and concentrators market in the near future.

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5 Key Market Players

o Chart Industries (AirSep)
o O2 Concepts
o NIDEK Medical Products, Inc.
o DeVilbiss Healthcare (Drive DeVilbiss Healthcare)
o Inogen Inc.
o Invacare Corporation
o Worthington Industries
o Inova Labs Inc. (ResMed)
o Koninklijke Philips N.V. (Philips Healthcare)
o Teijin Limited Company

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