New York, USA, June 28, 2021 (GLOBE NEWSWIRE) -- The new research report on the global oxygen cylinder and concentrator market by Research Dive sheds light on the impact of COVID-19 pandemic on the present and future perspective of the market. This report is an exhaustive research articulated by market analysts by scrutinizing top driving factors, growth opportunities, competitive landscape, regional market circumstances, and size & scope of the market in the crisis. 

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Highlights of the Report

The rise of the COVID-19 pandemic has made positive impact on the global oxygen cylinder and concentrator market. According to the report, the global oxygen cylinder and concentrator market had gathered $2,592.0 million in 2018, and is expected to garner $5,737.5 million by 2026, at 10.7% CAGR. The market size in the present scenario has reached up to $3,172.9 million. However, prior to the pandemic, the market was estimated to garner $3,062.6 million in 2020. The market is experiencing a significant rise in revenue owing to the increasing usage of oxygen cylinders & concentrators in the healthcare sector for COVID-19 affected patients.

Factors Impacting the Market Growth during COVID-19 Pandemic

The global oxygen cylinder and concentrator market is projected to experience significant rise in growth due to growing demand for oxygen cylinders from various healthcare sectors and end use industries. As coronavirus causes difficulty in breathing, oxygen cylinders and concentrators are been widely used in the healthcare centers in the treatment of COVID-19 affected people. Moreover, until and unless a proper medical treatment or drug is developed against the COVID-19 infection, artificial respiration system will be a vital tool in the treatment of COVID-19 infected people. All these factors are hugely contributing to the growth of the global oxygen cylinder and concentrator market during the COVID-19 chaos.

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Furthermore, various medical equipment retailers and significant players are delivering oxygen cylinders and concentrators to the people at home. For instance, Harmony Home Medical, a leading medical supply retailer in San Diego, is providing portable oxygen concentrators at home along with great service and price. Additionally, many non-profit organizations and government bodies are endorsing consistent oxygen supply essential for patients suffering from cardiovascular diseases and COPD. All these factors are expected to fuel the market growth in the pandemic and the upcoming years.

Future Scope of the Market:

The global oxygen cylinder and concentrator market is projected to continue to grow in the coming years due to rise in number of patients with respiratory disorders and an upsurge in the technological advancements by various companies across the world. The increasing demand for oxygen cylinders from the manufacturing sector for various applications including welding, frame cutting, and blast furnace to produce steel and other applications is likely to unlock lucrative opportunities for the market growth in the near future. Moreover, strategic initiatives and measures undertaken by prominent players of the market are estimated to propel the market growth.  

For instance:

• In November 2019, CAIRE, a leading oxygen supply manufacturer based in Georgia, launched a new ‘FreeStyle Comfort’ portable oxygen concentrator that is equipped with autoSAT technology. With the addition of the autoSAT, the device consistently delivers oxygen bolus according to the change in the user’s respiratory rate throughout their daily routine.
• In May 2021, Bharat Aerosol Industries, a leading manufacturer, wholesaler and trader of a wide range of oxygen can, room freshener, liquid hand wash, etc., launched portable oxygen cylinders for first aid.

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According to the report, the global oxygen cylinder and concentrator market is anticipated to experience progressive growth post-coronavirus pandemic. New players and some of the major players including are

1. NIDEK Medical Product
2. Koninklijke Philips N.V. (Philips Healthcare), Inc.
3. Chart Industries (AirSep)
4. Invacare Corporation
5. De Vilbiss Healthcare (Drive DeVilbiss Healthcare)
6. Inova Labs Inc. (ResMed)
7. Inogen Inc.
8. Worthington Industries
9. Teijin Limited Company
10. O2 Concepts

and others are projected to invest in novel advances to meet the growing demand for oxygen cylinder and concentrator across the world. All these aspects are expected to fuel the market growth in the forthcoming years.

In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report

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