Medical Oxygen Cylinder Market By Product Type (Fixed and Portable), By Application (Home-care and Non Home-care), By Technology (Continuous Flow and Pulse Flow), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Report Overview

The Global Medical Oxygen Cylinder Market size is expected to be worth around US$ 6.6 Billion by 2033, from US$ 4.3 Billion in 2023, growing at a CAGR of 4.3% during the forecast period from 2024 to 2033. North America held a dominant market position, capturing more than a 39.7% share and holds US$ 1.7 Billion market value for the year.

Increasing demand for respiratory support in healthcare settings is driving the growth of the medical oxygen cylinder market. These cylinders are essential in delivering oxygen to patients with respiratory diseases, critical injuries, or those undergoing surgery. The aging global population, particularly the rise in individuals over 65 years of age, significantly contributes to this demand, as elderly individuals are more likely to experience chronic respiratory conditions like COPD, pneumonia, and emphysema.

According to the ‘WPP 2022’ report, the proportion of the population aged 65 and above is expected to rise from 10% in 2022 to 16% by 2050, increasing the need for medical oxygen solutions. Additionally, the ongoing prevalence of respiratory diseases, including the global rise in conditions like asthma and pneumonia, creates further opportunities for market expansion.

The WHO and FIRS declared 25th September 2022 as World Lung Day to raise awareness about lung health, highlighting the importance of oxygen therapy for patients with chronic lung diseases. Recent trends show a shift toward portable and more efficient oxygen cylinders, catering to the growing demand for home healthcare and emergency medical services.

As technological advancements in cylinder design and delivery systems continue, the medical oxygen cylinder market is poised for further innovation, improving patient care while addressing the rising global health challenges.

Key Takeaways

• In 2023, the market for medical oxygen cylinder generated a revenue of US$ 4.3 billion, with a CAGR of 4.3%, and is expected to reach US$ 6.6 billion by the year 2033.
• The product type segment is divided into fixed and portable, with fixed taking the lead in 2023 with a market share of 57.2%.
• Considering application, the market is divided into home-care and non home-care. Among these, non home-care held a significant share of 62.5%.
• Furthermore, concerning the technology segment, the market is segregated into continuous flow and pulse flow. The continuous flow sector stands out as the dominant player, holding the largest revenue share of 55.3% in the medical oxygen cylinder market.
• North America led the market by securing a market share of 39.7% in 2023.

Product Type Analysis

The fixed segment led in 2023, claiming a market share of 57.2% owing to the increasing demand for stable, high-capacity oxygen storage and supply systems, particularly in hospitals and healthcare facilities. Fixed oxygen cylinders are likely to benefit from their ability to provide a continuous and reliable oxygen supply, making them ideal for critical care environments.

The growing prevalence of respiratory diseases, such as COPD, asthma, and COVID-19, is projected to drive the need for fixed medical oxygen systems in healthcare settings. Additionally, advancements in storage technology and infrastructure improvements are anticipated to make fixed oxygen cylinders more efficient and cost-effective, further boosting their adoption.

Fixed cylinders are also expected to gain popularity in emergency medical services, as their capacity to store large volumes of oxygen ensures adequate support during mass casualty incidents or natural disasters. With healthcare facilities increasingly focusing on improving patient care, the fixed segment is likely to see continued growth, contributing to the overall expansion of the medical oxygen cylinder market.

Application Analysis

The non home-care held a significant share of 62.5% due to the increasing demand for oxygen therapy in hospitals, clinics, and emergency medical services. This segment is expected to grow as healthcare facilities face rising patient numbers, especially those requiring long-term oxygen therapy for respiratory conditions such as pneumonia, pulmonary hypertension, and chronic respiratory diseases.

The demand for medical oxygen cylinders in non-home care settings is likely to increase as advancements in healthcare infrastructure, including specialized treatment units and emergency response systems, continue to improve. Additionally, the growing emphasis on pre-hospital care and emergency medical services is expected to further boost the adoption of medical oxygen cylinders in non-home care environments.

The increase in global healthcare expenditure and investments in public health systems are likely to fuel the demand for non-home care oxygen solutions, particularly in emerging markets with expanding healthcare infrastructure.

Technology Analysis

The continuous flow segment had a tremendous growth rate, with a revenue share of 55.3% owing to the increasing adoption of continuous flow oxygen delivery systems in healthcare facilities and at home. Continuous flow technology, which ensures a steady and uninterrupted flow of oxygen to patients, is expected to meet the needs of patients requiring long-term oxygen therapy for chronic respiratory conditions.

The growing prevalence of diseases such as COPD, asthma, and COVID-19 is anticipated to increase the demand for continuous flow oxygen systems, as they are effective in providing consistent oxygen levels for patients with more severe needs. The continuous flow segment is also likely to benefit from the growing adoption of portable oxygen concentrators, which utilize continuous flow technology to improve patient mobility and quality of life.

Furthermore, continuous flow systems are expected to see wider use in both home-care and non-home-care settings, particularly for patients with high oxygen requirements or those undergoing critical care treatments. These factors collectively contribute to the anticipated growth of the continuous flow segment in the medical oxygen cylinder market.

Key Market Segments

By Product Type

• Fixed
• Portable

By Application

• Home-care
• Non Home-care

By Technology

• Continuous Flow
• Pulse Flow

Drivers

Growing Prevalence of Asthma Driving the Medical Oxygen Cylinder Market

The growing prevalence of asthma significantly drives the demand for medical oxygen cylinders. The World Health Organization (WHO) reports that asthma affects 235 million people worldwide, and the need for medical oxygen supplementation has surged as a result. Asthma exacerbations, characterized by difficulty breathing and low oxygen levels, are expected to increase in frequency, making oxygen therapy a critical component of treatment for many individuals.

As a result, the medical oxygen cylinder market is likely to see rising demand, particularly in home care and hospital settings, to support individuals with chronic respiratory conditions. This trend is anticipated to fuel market growth, with more people seeking access to oxygen therapy for improved quality of life and better management of asthma symptoms.

Restraints

Regulatory Restrictions Restraining the Medical Oxygen Cylinder Market

High regulatory restrictions could impede the growth of the medical oxygen cylinder market. Stringent guidelines governing the manufacturing, storage, and distribution of medical gases and oxygen cylinders are likely to hamper market expansion. Regulatory bodies impose strict compliance standards to ensure safety, but these measures often lead to increased operational costs and longer approval processes for new products.

In addition, certain countries may have complex import regulations for medical oxygen equipment, further restricting market access. These factors are expected to limit the speed at which the medical oxygen cylinder market can evolve, especially in emerging regions.

Opportunities

High Occurrence of Non-Communicable Diseases Drives the Medical Oxygen Cylinder Market

The high occurrence of non-communicable diseases (NCDs) presents a significant opportunity for the medical oxygen cylinder market. According to the World Health Organization (WHO), NCDs now account for 87% of the disease burden in individuals aged 60 and above, leading to increased hospitalizations and a greater demand for life-support systems.

As chronic conditions such as heart disease, chronic obstructive pulmonary disease (COPD), and diabetes become more prevalent, patients often require supplemental oxygen to manage their symptoms effectively. This growing need is expected to drive the demand for medical oxygen cylinders, particularly in homecare and long-term care settings. The market for portable oxygen solutions is anticipated to grow rapidly, as more patients require continuous oxygen therapy to maintain quality of life and manage respiratory issues associated with NCDs.

Impact of Macroeconomic / Geopolitical Factors

Macroeconomic and geopolitical factors have a significant influence on the medical oxygen cylinder market. Economic fluctuations can affect healthcare budgets, potentially limiting the availability of medical oxygen during economic downturns. On the other hand, the growing demand for oxygen therapy in both developed and developing nations, spurred by rising respiratory disorders and public health crises, boosts market growth.

Geopolitical instability, particularly in regions with ongoing conflicts or strained healthcare infrastructures, may disrupt the supply chains for medical gases. However, investments in healthcare infrastructure and increased government support to ensure medical oxygen availability, especially in rural and underserved areas, provide a strong foundation for market expansion. Despite challenges, governments’ commitment to improving healthcare access and strengthening oxygen supply chains points to sustained growth for the medical oxygen cylinder market.

Trends

Growing Inclination of Government Bodies Driving the Medical Oxygen Cylinder Market

Increasing government investments and initiatives to improve healthcare accessibility are driving the medical oxygen cylinder market. High focus on enhancing oxygen supply infrastructure, especially after the COVID-19 pandemic, has led to government bodies prioritizing oxygen production and distribution. India’s commissioning of 4,055 pressure swing adsorption (PSA) plants in April 2022, including those funded under the PM-CARES initiative, serves as a prime example.

This effort aims to bolster medical oxygen production at the facility level, significantly increasing local availability. The trend is expected to continue with governments worldwide committing more resources to ensuring oxygen access in emergency situations, thus facilitating further growth in the medical oxygen cylinder market.

Regional Analysis

North America is leading the Medical Oxygen Cylinder Market

North America dominated the market with the highest revenue share of 39.7% owing to the increasing prevalence of respiratory diseases and the aging population. According to Asthma Canada’s 2021 report, over 3.8 million Canadians suffer from asthma, a figure that contributes to the rising demand for medical oxygen therapies in the region.

The growing number of patients with chronic obstructive pulmonary disease (COPD), asthma, and other respiratory conditions has been a key factor in the increased adoption of oxygen cylinders. Moreover, the global health crisis brought on by the COVID-19 pandemic further emphasized the critical need for reliable oxygen therapy, leading to higher awareness and expanded usage of medical oxygen equipment in both hospital and homecare settings.

In addition, advancements in oxygen cylinder technology, such as the development of lightweight, portable cylinders, have improved convenience and accessibility, contributing to the market’s growth in North America.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

The medical oxygen cylinder market in the Asia Pacific region is expected to experience significant growth during the forecast period, primarily driven by the rising incidence of respiratory diseases, particularly in densely populated countries like India and China. With growing urbanization, pollution levels, and an increasing elderly population, demand for oxygen therapy is likely to surge.

In addition, the region’s expanding healthcare infrastructure, combined with government initiatives to improve medical facilities and support healthcare innovation, is anticipated to create a favorable environment for the market. Technological advancements and cost-effective solutions for oxygen delivery are also projected to boost the adoption of medical oxygen cylinders, particularly in rural and underserved areas.

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

Key players in the medical oxygen cylinder market focus on product innovation, expanding distribution networks, and strengthening customer relationships to fuel growth. Companies invest in developing portable, lightweight, and more durable cylinders, improving convenience for patients and healthcare providers.

They also enhance their offerings by integrating smart technology, such as real-time oxygen monitoring and pressure indicators, to improve patient safety. Strategic partnerships with hospitals, home healthcare providers, and medical equipment suppliers help expand their market presence. Players also focus on expanding into emerging markets by offering cost-effective solutions that meet local healthcare needs.

One key player in the medical oxygen cylinder market is Linde Healthcare. Linde Healthcare specializes in providing medical gases, including oxygen cylinders, for a wide range of healthcare applications. The company’s growth strategy involves continuous innovation, such as the development of portable oxygen concentrators and cylinder technology with increased storage capacity.

Linde Healthcare also focuses on global expansion and strengthens partnerships with healthcare providers to deliver reliable oxygen solutions. Through research and development, Linde ensures its offerings meet stringent safety standards.

Top Key Players in the Medical Oxygen Cylinder Market

• ResMed
• Philips Healthcare
• Nidek Medical
• Linde Healthcare
• Invacare Corporation
• AirSep Corporation
• Airgas Inc.
• Air Liquide

Recent Developments

• In November 2022: Sri Sri Ravi Shankar officially introduced OxyAid in India, a mobile, containerized oxygen generator truck equipped with IoT technology, at the Art of Living International Center in Bengaluru. The initiative aims to establish a reliable infrastructure for providing medical oxygen to even the most remote areas of India.
• In April 2022: BMC inaugurated two oxygen cylinder refilling plants in India. The facilities include a large tank with a capacity of approximately 13,000 liters and are designed to refill 100 to 120 cylinders daily.

Report Scope