Medical Gas Cylinders Market: An Overview
Medical gas cylinders consist of high pressurized gas used for various medical purposes. In order to cater with the varying requirements of the end users, medical gas cylinders are available in various formats and sizes. Continuous demand for the life essential gases at the hospital propelling significant increase in the sales of medical gas cylinders.
Besides this, the consumption portable gas cylinders are expected to increasing g with high pace, as most of the people prefer to have such cylinders at home for emergency situation especially during rising pandemic situations. To fulfil increased demand many key players across the globe are planning to increase their production capabilities and expansion of distribution services. The global outlook for the medical gas cylinder is anticipated to remain positive throughout the forecasted period due to the evergreen medical sector.
How Oxygen Gas Requirement is Bolstering the Growth of Medical Gas Cylinder Market?
Rapidly rising cases of COVID in various regions demand oxygen gas to treat patient. Every day rising requirement of oxygen gas cylinder is supplementing the sales for medical gas cylinder. Also, the set-up of temporarily medical facilities to treat the COVID patients pushes the requirement for medical gas cylinder to cater for the demand for oxygen gas cylinders.
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How the Portable Medical Gas Cylinder Thriving Opportunities for the Key Players?
The portable medical gas cylinders are gaining significant traction among people attributing to have safety measures at home. The non-availability of space in hospital lead towards homecare setting which ultimately bolsters the market for medical gas cylinder. Further, as these type of cylinders is lightweight and easy to handle, many of the hospitals used this in the ambulance or emergency vehicles. Therefore, these cylinders creating revenue generating opportunities for the key players as well as opens a new door for applications.
What is the Key Trend Supplementing Sales of Medical Gas Cylinder in the Market?
The entry of new players in the market for manufacturing medical cylinders to cater for the need during the current scenario is augmenting the market growth for medical gas cylinders. The players are introducing a new product line of a medical gas cylinder in their product portfolio which is expected to push the market growth for medical gas cylinder.
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What Limits the Growth of the Medical Gas Cylinder Market?
The factor challenging for the medical gas cylinder market is the high cost of raw material as well as its availability. Also, the precaution needed to be taken will manufacturing and storing the same may hamper the medical gas cylinder market.
Key players are
- Allied Healthcare Products Inc.
- HERSILL S.L.
- Spencer Italia s.r.l.
- AMS Composite Cylinders
- Shenyang Gas Cylinder Safety Technology Co.LTD
- B.N.O.S. Meditech Ltd.
- Al-Can Exports Pvt. Ltd.
- many more.
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What are the Key Strategies Adopted by the Manufacturers to Amplify Profit Margins?
To achieve leading position and to deal with the market competition, manufacturers of medical gas cylinders are strategically planning for expansion of the business line. Some of the key players are focussing on product and technology level innovations and therefore investing two fold amount in the research activities.
- In March 2020, a company named AirGenics, a leader in refurbishing cylinders converted its inert gas cylinders to medical oxygen cylinders to cater for the demand in the market.
Further, to cater increasing demand gas cylinders during COVID_19 pandemic situations, manufacturers are planning to have strong distribution network in the international market.
How India Is the Fast Growing Market for Medical Gas Cylinders?
Rapidly rising chronic diseases and infectious diseases create demand for oxygen and other medical gases in hospitals. This lead to the demand for medical gas cylinder to provide a continuous supply of required medical gases in hospital. Recently, Indian government has decided to provide funds for 151 PSA and 162 PSA medical oxygen generating plants in public health facilities and increasing production of oxygen cylinders. Attributing to this, India is expected to gain new horizon in the global medical gas cylinders market.
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How has COVID-19 impacted the Growth of the Medical Gas Cylinder Market?
The impact of the COVID-19 pandemic on the medical gas cylinder market was and is significantly positive as during COVID-19 there was a tremendous increase in the use of gas cylinders in hospitals and ambulances. Also, various medical facilities were immediately started along with a homecare setting which augments the sales for medical gas cylinder. On the back of these statements, the market for medical gas cylinder bolstered during COVID-19.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
Key Segments of Medical Gas Cylinder Covered in the Report
Based on material type, the medical gas cylinder has been segmented as
Based on end-user, the medical gas cylinder has been segmented as
- Manufacturing Industry
Based on capacity type, the medical gas cylinder has been segmented as
- More than 100L
Based on portability, the medical gas cylinder has been segmented as
Based on region, the medical gas cylinder has been segmented as
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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