Medical Air Pressurized Oxygen Tank Market by Type (Aluminum, Steel, Iron, and Others); By Gas Type (Oxygen, Medical Air, Nitrogen, Nitrous Oxide, Carbon Dioxide, and Others); By End-User (Hospitals; Nursing Homes, Homecare, and Others); By Geography (North America, Asia-Pacific, Europe, South America, and RoW), Industry Analysis, COVID-19 Impact Analysis, Size, Share, Growth, Trends, and Forecasts 2021-2028

Market Overview

The global medical air pressurized oxygen tank market size is estimated at 6712.32 Million USD with a CAGR of 8.04% during the forecasted period from 2021-2028. Medical air pressurized oxygen tank is one of the key demanded items in the healthcare industry as they play a major role in various medical operations. The increasing pollution level, rising number of respiratory diseases, and growing aged population are the primary factors driving the growth of the global medical air pressurized oxygen tank market. Additionally, patients suffering from asthma, heart failure, pneumonia, lung disease, trauma to the respiratory system, and other respiratory disorders has also augmented the demand for the market. For instance, according to the Global Asthma Report, asthma affects around 339 million people in all regions of the world. It causes a high global burden of death and disability, with around 1000 people dying each day from asthma, and is in the top 20 causes of years of life lived with disability. On the other hand, high price of oxygen gas cylinders may restrict the market growth. However, increasing investments in the healthcare and the increasing technological development in the medical oxygen gas cylinders market can offer more opportunities for the further growth in forecast period.

Market Dynamics

The rising number of respiratory diseases, increasing pollution level, and growing geriatric population are the primary factors driving the growth of the global medical air pressurized oxygen tank market. In addition, patients suffering from asthma, heart failure, pneumonia, lung disease, trauma to the respiratory system, and other respiratory disorders has also augmented the demand for the market. For instance, according to the Global Asthma Report, asthma affects around 339 million people in all regions of the world. It causes a high global burden of death and disability, with around 1000 people dying each day from asthma, and is in the top 20 causes of years of life lived with disability. However, the supply of contaminated oxygen may lead to death which is a major hindrance for this market. Thus, various government organizations such as the United States Pharmacopeia (USP), and The Food and Drug Administration (FDA) follow stringent regulations for the production, supply, and transportation or use of medical gases. Moreover, the growing prevalence of chronic obstructive pulmonary diseases (COPD) likely to gain significant impetus for the medical air pressurized oxygen tank market share in the coming years. Many people with severe chronic obstructive pulmonary diseases require long-term oxygen therapy. COPD is an umbrella term that includes progressive lung diseases that lead to increased breathlessness. Some people will experience weakening lung function over time, leading them to struggle to get enough oxygen. Long term, regular oxygen therapy can considerably improve the quality and length of life for people with COPD. Many of them may need to receive oxygen therapy for at least 15 hours a day. Therefore, patients with COPD have fueled the market and is expected to continue its trend. For instance, according to an article published in PubMed Central (PMC), COPD is principally caused by tobacco smoking and household air pollution (HAP). Additionally, COPD is a silent killer in low- and middle-income countries (LMICs): an estimated 328 million people have COPD globally, and in 15 years, COPD is expected to become the leading cause of death.

Market Segmentation

The study provides a crucial view of the medical air pressurized oxygen tank by segmenting the market based on the type, gas type, end-user, and geography. The type segment includes aluminum, steel, iron, and other types. Oxygen, medical air, nitrogen, nitrous oxide, carbon dioxide, and other gas types are the classification of the gas type segment. On the basis of end-user segment, the bifurcation is given as hospitals & nursing homes, homecare, and others. Furthermore, geographical coverage has been offered for each of the major regions including North America, Asia-Pacific, Europe, Row, and South America.

Scope of the Global Medical Air Pressurized Oxygen Tank Market

By Type

• Aluminum
• Steel
• Iron
• Other Types

By Gas Type

• Oxygen
• Medical Air
• Nitrogen
• Nitrous Oxide
• Carbon Dioxide
• Others

By End-User

• Hospitals & Nursing Homes
• Homecare
• Others

By Geography

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Korea
  • Rest of APAC
• South America
  • Brazil
  • Rest of South America
• Rest of the World
  • Middle East
  • Africa