Sellbyville, Delaware, March 10, 2019 (GLOBE NEWSWIRE) --
U.S. oxygen cylinders and concentrators market held significant industry share of 86.1% in 2018. Increasing proportion of elderly population along with increased occurrence of respiratory disorders should drive industry growth. As per American Lung Association, COPD is the third leading cause of death in the country. Presence of a well-established industrial infrastructure in the country will further stimulate demand.
Global Oxygen Cylinders and Concentrators Market will surpass USD 5 billion by 2025; according to a new research report by Global Market Insights, Inc. Increasing prevalence of COPD, asthma and other respiratory disorders will drive market growth over the forecast years. Excessive smoking and exposure to industrial dust will deteriorate the air quality leading to respiratory illness. Climate change further poses a massive threat to respiratory health as it increases risk factors such as amounts of pollens, allergens and particulate matter.
Growing demand for adventure sports such as scuba diving and mountaineering will fuel industry growth. The lack of oxygen at higher altitudes and deep-sea levels stimulates the need for oxygen cylinders which ensures a regular and continuous supply. Absence of these devices can lead to headache, dizziness, suffocation and death.
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However, risk of operational hazards associated with the devices impedes industry expansion. Oxygen is non-flammable but it supports combustion and its improper or unsafe use or storage may lead to serious injuries.
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 hamper adoption to some extent.
Browse key industry insights spread across 145 pages with 60 market data tables & 9 figures & charts from the report, “Oxygen Cylinders and Concentrators Market Size By Product (Portable, Fixed), By Application (Healthcare, Pharmaceutical & Biotechnology, Manufacturing, Aerospace & Automotive, Others), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/oxygen-cylinders-and-concentrators-market
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.
China market is slated to witness robust growth over the forecast period. The economic boom and drastic rise in GDP has resulted in a surge in motorized vehicles as a greater number of individuals are now capable of buying them. Moreover, the increased production output from steel and cement industries and burning of coal in factories has worsened the quality of air and has given rise to the problem of smog. Exposure to the increasing pollution and dust has escalated incidence of various respiratory disorders in the region which will fuel industry growth.
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.
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Homecare Oxygen Concentrators Market By Products (Portable Oxygen Concentrators, Compressed Gas Oxygen Cylinders, Liquid Oxygen) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Brazil, Mexico, South Africa), Application Development Potential, Competitive Market Share & Forecast, 2018 – 2024
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.