As per the report published by Allied Market Research, the global Medical Oxygen Gas Cylinders Market generated $2.97 billion in 2020, and is expected to reach $5.33 billion by 2030, registering a CAGR of 5.7% from 2021 to 2030.
The global medical oxygen gas cylinders market is experiencing growth propelled by various factors. The rise in population susceptibility to indoor air pollutants, an increase in the population of active smokers, and daily exposure to environmental pollution contribute to market expansion. However, challenges such as the high costs of oxygen cylinders and strict regulatory procedures act as hindrances to market growth. Conversely, there are promising opportunities in developing markets and a growing geriatric population, which are anticipated to benefit market players in the future. Oxygen Cylinder
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The Covid-19 scenario has positively impacted the demand for medical oxygen gas cylinders. The pandemic led to a surge in the need for intensive care, driving the demand for medical oxygen. Governments played a crucial role in ensuring a continuous supply by focusing on import activities and supporting local manufacturers. Oxygen gas treatment became essential for Covid-19 patients and those with chronic health issues, leading to an increased demand for oxygen gas cylinders in medical clinics and home care settings.
The report categorizes the global medical oxygen gas cylinders market based on technology, product, end user, and region. The pulse flow segment is expected to register the highest compound annual growth rate (CAGR) of 6.0% during the forecast period, while the continuous flow segment dominated the market in 2020, holding nearly three-fourths of the market share.
In terms of products, the portable segment is estimated to exhibit the highest CAGR of 6.1% from 2021 to 2030, with the fixed segment dominating the market in 2019, contributing to over two-thirds of the market share.
Geographically, North America led the market in 2019, accounting for around two-fifths of the market share. However, the Asia-Pacific region is projected to register the highest CAGR of 7.6% during the forecast period.
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Medical Oxygen Gas Cylinders Market Report Highlights
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