Medical gas cylinder market to grow by USD 2,846.98 million from 2022 to 2027

NEW YORK, Aug. 1, 2023 /PRNewswire/ -- The Medical Gas Cylinder Market is estimated to grow by USD 2,846.98 million from 2022 to 2027. The market will be growing at a CAGR of 10.62% during the forecast period. North America accounts to contribute 33% of the growth of the global market during the forecast period. The market's growth in the region can be attributed to the increasing use of medical gases and equipment in the management of respiratory diseases such as COPD and asthma. The increasing incidence of COPD, asthma, and other medical conditions is expected to fuel the demand for medical gas cylinders in the US. Hence, such factors are expected to fuel the growth of the market in the region during the forecast period. For Comprehensive details on the market size of the historic period (2017 to 2021) and forecast period (2023-2027) - View Sample report

Medical gas cylinder market - Vendor LandscapeThe medical gas cylinder market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now

Medical gas cylinder market - Market Dynamics

Major Drivers & Challenges-

The growing demand for medical gases for therapeutic and diagnostic applications drives the growth of the medical gas cylinder market. Medical gases are used to treat various diseases as well as for respiratory and anesthesia applications to study the functioning of the cardiovascular system and the lungs. Medicinal oxygen and medical helium and oxygen mixtures are used for critically ill patients in ICUs. Therefore, the growing demand for medical gases for therapeutic and diagnostic applications will drive the growth of the global medical gas cylinder market during the forecast period.

Stringent regulations challenge the growth of the medical gas cylinder market. Medical gas cylinders provide oxygen and heliox therapy as well as life support in ICUs and for emergencies and thus, stringent regulations are enforced related to the design and manufacturing of these cylinders. In Europe, medical gas cylinders must meet the requirements of the Medical Device Directive (MDD), Directive 2007/47/EC of the European Parliament, and Council Directive 93/42/EEC for Medical Devices of the European Council. Thus, stringent regulations related to the design and manufacturing of medical gas cylinders may affect the growth of the global medical gas cylinder market during the forecast period.

Key Trends-

The rise in the number of hospitals and surgical centers is an emerging medical gas cylinder market trend. The number of hospitals and surgical centers is increasing across the world, which leads to the demand for medical gas cylinders to be high. Furthermore, the healthcare infrastructure of developing countries such as India and China has improved significantly over the previous decade. Hence, such trends fuel the growth of the medical gas cylinder market during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report

Company Profiles

The medical gas cylinder market report includes information on the product launches, sustainability, and prospects of leading vendors including Advanced Material Systems Co., Air Liquide SA, Air Products and Chemicals Inc., Atlas Copco AB, B.N.O.S. Meditech Ltd., CIMC ENRIC Holdings Ltd., DCC Plc, Everest Kanto Cylinder Ltd., Faber Industrie SPA, HERSILL SL, Invacare Corp., Koninklijke Philips NV, Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd., Linde Plc, Luxfer Holdings Plc, Messer SE and Co. KGaA, Mitsubishi Chemical Group Corp., Rama Cylinders Pvt. Ltd., Sinoma Science and Technology Co. Ltd., and Worthington Industries Inc.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

Medical gas cylinder market - Market Segmentation

This medical gas cylinder market report extensively covers market segmentation by end-user (HHH, PBI, and RI), product (fixed and portable), and geography (North America, Europe, Asia, and Rest of World (ROW)).

The HHH segment will be significant for market growth during the forecast period. Several gas cylinders are used in hospitals and home healthcare and medical gas is used extensively in ICUs, PICUs, and NICUs. Furthermore, improvements in the infrastructure of hospitals and clinics and the rise in affordability of patients in developed countries such as the US and the UK are expected to drive the growth of this segment during the forecast period. Hence, such factors drive the segment growth in the market during the forecast period.

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Medical Gas Cylinder Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 10.62%

Market growth 2023-2027

USD 2,846.98 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.78

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 33%

Key countries

US, Germany, UK, China, and Japan

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Advanced Material Systems Co., Air Liquide SA, Air Products and Chemicals Inc., Atlas Copco AB, B.N.O.S. Meditech Ltd., CIMC ENRIC Holdings Ltd., DCC Plc, Everest Kanto Cylinder Ltd., Faber Industrie SPA, HERSILL SL, Invacare Corp., Koninklijke Philips NV, Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd., Linde Plc, Luxfer Holdings Plc, Messer SE and Co. KGaA, Mitsubishi Chemical Group Corp., Rama Cylinders Pvt. Ltd., Sinoma Science and Technology Co. Ltd., and Worthington Industries Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global medical gas cylinder market 2017 - 2021

4.2 End-user Segment Analysis 2017 - 2021

4.3 Product Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by End-user

6.1 Market segments

6.2 Comparison by End-user

6.3 HHH - Market size and forecast 2022-2027

6.4 PBI - Market size and forecast 2022-2027

6.5 RI - Market size and forecast 2022-2027

6.6 Market opportunity by End-user

7 Market Segmentation by Product

7.1 Market segments

7.2 Comparison by Product

7.3 Fixed - Market size and forecast 2022-2027

7.4 Portable - Market size and forecast 2022-2027

7.5 Market opportunity by Product

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 North America - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 Asia - Market size and forecast 2022-2027

9.6 Rest of World (ROW) - Market size and forecast 2022-2027

9.7 US - Market size and forecast 2022-2027

9.8 Germany - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 UK - Market size and forecast 2022-2027

9.11 Japan - Market size and forecast 2022-2027

9.12 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Air Liquide SA

12.4 Air Products and Chemicals Inc.

12.5 Atlas Copco AB

12.6 CIMC ENRIC Holdings Ltd.

12.7 DCC Plc

12.8 Everest Kanto Cylinder Ltd.

12.9 Faber Industrie SPA

12.10 Invacare Corp.

12.11 Koninklijke Philips NV

12.12 Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd.

12.13 Linde Plc

12.14 Luxfer Holdings Plc

12.15 Rama Cylinders Pvt. Ltd.

12.16 Sinoma Science and Technology Co. Ltd.

12.17 Worthington Industries Inc.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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