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December 2024
The medical oxygen cylinder market was estimated at US$ 4.25 billion in 2023 and is projected to grow to US$ 6.85 billion by 2034, rising at a compound annual growth rate (CAGR) of 4.44% from 2024 to 2034. The demand for medical oxygen cylinders is increasing due to the rising prevalence of respiratory disorders, the rising geriatric population, and the COVID-19 pandemic, which is driving the market.
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Medical oxygen is a highly pure oxygen used in medical applications for the human body. This pure form of oxygen is compressed and stored in a metal cylinder without any other gas to prevent contamination. The oxygen stored in a cylinder may be gas or liquid. There are three main types of oxygen cylinders – compressed oxygen, liquid oxygen, and oxygen concentrator. Compressed oxygen cylinders contain 99.5% of compressed oxygen gas. A liquid oxygen cylinder contains 100% oxygen as a very cold liquid at -297oF (-182.8oC). An oxygen concentrator creates purified air by pulling air from the surroundings, separating and compressing the oxygen, and removing the nitrogen. The oxygen is transmitted through a plastic mask that fits over the nose and mouth or through a flexible plastic tube with two prongs fitted into the nostrils. Oxygen cylinders are mostly required by patients having breathing difficulties due to conditions like asthma, bronchitis, COPD, emphysema, heart failure, etc.
Artificial intelligence (AI) can improve the day-to-day work of healthcare professionals, resulting in spending more time caring for patients. AI can allow for better care outcomes and improve the productivity of care delivery, thereby improving efficiency and retention. AI can monitor the time remaining information of oxygen flow, eliminating the need to interpret pressure data. AI can convert manual ventilators into automatic ones by controlling the oxygen flow and pressure for patients with respiratory failure. AI also has the potential to adjust the oxygen according to the patient's requirements. Additionally, using sensors and algorithms, AI can detect leaks, overflows, or misuse of oxygen supplies. It can also streamline the supply chain process depending on the demand in a particular region, improving oxygen access to a wider population.
| Company Name | CAIRE, Inc. |
| Headquarters | Ball Ground, GA |
| Recent Development | In October 2023, CAIRE, a leading global manufacturer of oxygen therapy and cardiorespiratory diagnostic equipment, established its global service headquarters in Canton, GA. The 29,000-square-foot Canton facility will provide rapid servicing of equipment and fulfillment of specialty service parts and accessories. |
| Company Name | Nidek Medical Products, Inc. |
| Headquarters | 2040 Corporate Court, San Jose, CA |
| Recent Development | In October 2023, Nidek Medical’s NUVO Lite Oxygen Concentrator won the “Best Quiet Operation” Oxygen Concentrator by Forbes Healthcare for 2023. It is lightweight & compact and has low power consumption, quiet operation, and a wide range of outlet flow volume options. |
Respiratory disorders are the most prevalent type of illness among the population. The incidences rise with an increase in the geriatric population. Some common respiratory disorders include asthma, COPD, bronchitis, cystic fibrosis, lung cancer, etc. These disorders lead to breathing difficulty among patients, necessitating the use of oxygen cylinders. According to a study published by the Institute for Health Metrics and Evaluation, chronic respiratory disorders were the third leading cause of death, responsible for 4 million deaths, with a prevalence rate of 454.6 million cases in 2019. According to UNICEF, approximately 4.2 million children with severe pneumonia in low- and middle-income countries urgently need oxygen to survive. Additionally, the rising air pollution globally due to rapid urbanization increases the chances of breathing difficulty. In such respiratory conditions, oxygen cylinders supply the desired amount of oxygen required by the body.
The major challenge for the oxygen cylinder market is the supply chain issue. The rising demand for oxygen cylinders due to the increasing geriatric population, the COVID-19 pandemic, and other respiratory disorders hamper the supply chain of cylinders. Hence, a smaller supply of oxygen cylinders and delayed patient treatment are inevitable. Another major challenge is the leakage of oxygen from improper connections. This increases the amount of oxygen gas in the environment, resulting in a fire and explosion hazard. Furthermore, careless handling of oxygen cylinders may cause workplace injuries.
Rapid urbanization encourages more people to migrate from rural to urban areas. Currently, 56% of the world’s population, i.e., 4.4 billion people, are living in urban areas, and the number is estimated to double by 2050, with around 7 out of 10 people living in cities. The increasing population and rapid urbanization pose a threat to global human health. According to the WHO, an estimated 7 million people die due to air pollution every year globally. Air pollution leads to heart disease, stroke, lung disease, or cancer, which are triggered by air pollutants. Activities involving the burning of fossil fuels, some industrial activities like power generation, vehicle emissions, and natural phenomena cause air pollution, ultimately leading to major respiratory health issues. The rise in such issues increases the likelihood of medical oxygen cylinder usage among both the young and adult populations.
The fixed segment held a dominant presence in the medical oxygen cylinder market in 2023. The fixed medical oxygen cylinders are used in hospital settings for critical care patients. The rise in chronic respiratory disorders and the increase in the number of hospitalizations boosts the market. According to the Centers for Disease Control and Prevention (CDC), the rising cases of COVID-19, flu, respiratory syncytial virus (RSV), and other respiratory illnesses result in elevation in hospital admissions in the US. Hence, the CDC, in January 2024, uses multiple data systems to track signs of stress on the healthcare system as hospital admissions are expected to remain elevated.
The portable segment is expected to grow at the fastest rate in the medical oxygen cylinder market during the forecast period. The portable cylinders are easy to use and can be carried anywhere. They are the preferred choice for at-home care patients. The demand for at-home care increases due to rising geriatric population. The portable cylinders reduce the amount of unnecessary labor involved in transporting the equipment while exercising. They can increase exercise tolerance, improving the quality of life and ability to do simple tasks.
The non-home care segment led the global medical oxygen cylinder market in 2023. Non-home care services include treatment of a patient in hospital or clinic settings. Many patients prefer hospitals and clinics for advanced care as such medical settings provide all the necessary equipment, facilities, and the presence of trained professionals in a single place. Additionally, the favorable reimbursement policies encourage patients to prefer hospitals and clinics.
The home care segment is anticipated to grow with the highest CAGR in the medical oxygen cylinder market during the studied years. Home care is a service for individuals who require assistance due to aging, disabilities, chronic conditions, or recovering from an illness. Governments also support in-home care and implement policies and funding initiatives to promote home-based care services. According to a 2021 study by the NORC Center for Public Affairs Research, around 88% of Americans would prefer to receive any ongoing living assistance as they age at home or with loved ones. The advent of portable oxygen cylinders and technological advancements enhance the market growth.
The continuous flow segment registered its dominance over the global medical oxygen cylinder market in 2023. Continuous-flow technology, the most common type of technology, delivers a constant, steady, and reliable oxygen flow to the patient, measured in liters per minute. The constant supply of oxygen is supplied through a mask or nasal cannula. A continuous flow technology is generally provided in oxygen concentrators and oxygen cylinders at home or in hospitals, thereby limiting its mobility from one place to another. These types of cylinders are usually used for patients with sleep apnea or other conditions requiring oxygen at night.
The pulse flow segment is projected to expand rapidly in the medical oxygen cylinder market in the coming years. A pulse-flow technology delivers a pulsed “bolus” of oxygen when the patient starts to inhale. Hence, the oxygen supply is triggered by the patient’s inspiration. The oxygen is supplied through a nasal cannula, reducing waste and enhancing efficiency. Pulse-flow technology is installed in a portable concentrator, making it ideal for active people or on the go. Additionally, a pulse-flow technique enhances battery life by delivering oxygen only when needed, improving energy efficiency.
Asia-Pacific dominated the global medical oxygen cylinder market share by 39% in 2023. The rising incidences of respiratory illnesses, growing healthcare infrastructure, and increasing geriatric population drive the market. The geriatric population suffering from chronic conditions like COPD, congestive heart failure, or pneumonia often experiences frequent hospitalizations. According to the WHO report, China has almost 100 million people living with COPD, accounting for 25% of all COPD cases globally. Whereas in India, there are approximately 37.8 million cases of COPD, accounting for 17.8% of global COPD cases. According to a survey conducted by Japanese MHLW, around 200,000 people in Japan are diagnosed with COPD. Additionally, the gradual rise in population in the Asia-Pacific region promotes the rate of hospitalizations, requiring more supply of medical oxygen cylinders. Furthermore, rapid urbanization, government policies, and funding to build more hospitals and plants for oxygen cylinders boost the market.
Europe is anticipated to grow at the fastest rate in the medical oxygen cylinder market during the forecast period. The rising chronic respiratory illnesses and advanced healthcare infrastructure augment the market. The current access to healthcare facilities and innovative technologies in Europe is subjected to diverse pricing and reimbursement policies across countries. Europe had 2.3 million hospital beds in 2022, with highest numbers in Germany, France, and Poland. During the COVID-19 pandemic, Europe was at the forefront of exporting medical oxygen around the world. According to the World Integrated Trade Solution, the top exporters of medical oxygen in 2019 were Belgium, France, Germany, and Portugal. Moreover, technological advancements and increasing collaborations & investments drive the market.
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