Sellbyville, DE -- (SBWIRE) -- 04/26/2019 -- Global Oxygen Cylinders and Concentrators Market to exceed USD 4.5 billion by 2024; according to a new research study published by Global Market Insights, Inc. Oxygen cylinders and concentrators market is poised to witness robust growth over the forecast period. Increasing geriatric population base will serve as a high impact rendering factor. The elderly population is at a greater risk of acquiring respiratory disorders such as COPD. Aging leads to decline in effectiveness of defense mechanism of the lung along with weakening of respiratory muscles. Moreover, there is a decrease in peak airflow and the maximum amount of air that can be breathed out after a maximum inhalation.

Rising number of smokers and growing exposure to dust particles will further fuel business growth. Cigarette smoke releases chemicals which are absorbed by lungs leading to tissue and cell damage. Inhalation of dust particles and their consequent settling in the airways may lead to inflammation of the trachea or bronchitis. These factors increase the risk of acquiring respiratory diseases.

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Portable devices dominated the oxygen cylinders and concentrators market in 2018, valued at USD 1,421.8 million. 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 of 8.9% 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.

The healthcare sector is unquestionably, one of the most lucrative application arenas for oxygen cylinders and concentrators market. The rising percentage of a geriatric population base vulnerable to potential respiratory disorders such as asthma and COPD is bound to generate a considerably massive demand for these products, which would most certainly push oxygen cylinders and concentrators industry growth. As per a report by the WHO, close to 65 million people suffer from COPD (chronic obstructive pulmonary disease) currently. In 2005 alone, more than 3 million people were reported to have died due to COPD. WHO also reports that an astonishing 90% of COPD deaths are prevalent in the low-income and middle-income countries.

The astoundingly mammoth prevalence of COPD has prompted manufacturers to come up with state-of-the-art oxygen systems, thus creating a lucrative avenue for oxygen cylinders and concentrators market. As per estimates, COPD is likely to emerge as the third leading cause of deaths globally by 2030, thus validating the claims that oxygen cylinders and concentrators market from healthcare applications is slated to witness dynamic transformations in terms of sales and volume. Healthcare applications, as per reports, accounted for the largest share of the overall oxygen cylinders and concentrators market revenue in 2016, driven by the escalating patient pool suffering from chronic hypoxemia, sleep apnea, pulmonary edema, and COPD.

Besides being deployed for these diseases, oxygen concentrators also find massive applications in surgical procedures, especially in cases of severe fatalities that require prompt hospitalization. Often times, in such unfortunate situations, there have been instances where oxygen cylinder supply has ceased to be delivered. The recent Gorakhpur tragedy in India is an apt instance of the same. The precedent served as a pivotal lesson for the entire healthcare fraternity, pressurizing regional manufacturers to increase oxygen cylinder production. It is expected that manufacturers at the global level would also take cue from the incident, which would substantially increase the sales graph of oxygen cylinders and concentrators market from healthcare applications.

However, one of the impeding parameters for the oxygen cylinders and concentrators industry remains the high cost of these devices. In addition, some of the claimed operational hazards associated with improper storage of these devices are also impacting the industry growth trends. Nonetheless, the incessant efforts by the industry players with regards to combating these restraints is set to fuel the market expansion in the coming years.

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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.

Chapter 1. Methodology

1.1. Methodology

1.2. Market definition

1.3. Forecast parameters

1.4. Data sources

1.4.1. Secondary

1.4.1.1. Paid sources

1.4.1.2. Unpaid sources

1.4.2. Primary

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Chapter 2. Executive Summary

2.1. Oxygen cylinders and concentrators industry 3600 synopsis, 2014 - 2025 (USD Million)

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Application trends

2.1.4. Regional trends

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