India Medical Oxygen Tank Market Outlook to 2028
Description
India Medical Oxygen Tank Market Overview
The India Medical Oxygen Tank market is valued at USD 400 Million, based on a five-year historical analysis. The market is primarily driven by an increased demand for medical oxygen due to the rising prevalence of respiratory conditions like COPD, asthma, and post-COVID complications. The need for reliable oxygen supply in hospitals and homecare settings has further boosted the demand for medical oxygen tanks, supported by government programs such as the PM-ABHIM and Ayushman Bharat that aim to strengthen healthcare infrastructure across urban and rural India.
The market is notably strong in urban areas like Delhi, Mumbai, and Bengaluru, where the concentration of multi-specialty hospitals and advanced healthcare facilities drives higher demand for medical oxygen tanks. Additionally, these cities have greater access to technological advancements in medical equipment, fostering partnerships between local suppliers and global manufacturers. Rural regions in states like Uttar Pradesh and Bihar are emerging markets, supported by recent healthcare expansion programs aimed at improving access to oxygen cylinders in smaller clinics and hospitals.
The National Medical Commission has issued stringent guidelines for medical oxygen supply to ensure safety and quality standards across healthcare facilities. As of 2023, compliance with these guidelines was mandated for over 15,000 hospitals in India. The guidelines focus on maintaining purity levels, proper storage, and safe transportation of medical oxygen, aiming to standardize the quality across the market. This regulatory framework is crucial in maintaining consistent standards, supporting patient safety, and preventing supply chain disruptions.
India Medical Oxygen Tank Market Segmentation
By Product Type: The market is segmented by product type into compressed gas cylinders, liquid oxygen tanks, and portable oxygen concentrators. Compressed gas cylinders have a dominant market share in India under this segmentation due to their cost-effectiveness and widespread availability. Hospitals and emergency services prefer these cylinders for their affordability and ability to store larger volumes of oxygen for immediate use, making them ideal for high-demand scenarios in critical care settings.
By End-User: The market is segmented by end-user into hospitals & clinics, homecare settings, and emergency medical services (EMS). Hospitals and clinics dominate the market due to their consistent need for medical-grade oxygen for patient care, surgeries, and critical care wards. The preference for bulk storage solutions like liquid oxygen tanks and large compressed gas cylinders ensures that hospitals maintain a steady supply of oxygen, especially during peak demands and emergencies.
India Medical Oxygen Tank Market Competitive Landscape
The India Medical Oxygen Tank market is dominated by several key players, including a mix of local and multinational companies. These firms focus on maintaining supply chain efficiency, product quality, and adherence to regulatory standards like BIS certification, contributing to their market dominance.
Company
Establishment Year
Headquarters
Production Capacity (Tons/Day)
Certifications
Key Clients
Distribution Network
Revenue (INR Cr)
No. of Manufacturing Plants
INOX Air Products Pvt. Ltd.
1963
Mumbai, India
Linde India Limited
1935
Kolkata, India
Air Liquide India
1902
New Delhi, India
Praxair India Pvt. Ltd.
1996
Bengaluru, India
BOC India Ltd.
1935
Mumbai, India
India Medical Oxygen Tank Industry Analysis
Growth Drivers
Increase in Respiratory Diseases: The rise in respiratory diseases, such as asthma and chronic obstructive pulmonary disease (COPD), has significantly increased the demand for medical oxygen tanks in India. According to the Ministry of Health and Family Welfare, India reported over 93 million people with asthma and other chronic respiratory conditions in 2023. The impact of the COVID-19 pandemic further exacerbated the demand, with oxygen requirements for hospitals and patients in home care rising sharply in 2022-2023. The demand for medical oxygen peaked during COVID-19 waves, with a daily requirement reaching 8,000 metric tons.
Government Healthcare Investments: Government initiatives like the Ayushman Bharat Health Infrastructure Mission (PM-ABHIM) have led to increased investment in healthcare infrastructure, fueling demand for medical oxygen tanks. In 2023, the government allocated INR 64,180 crore to improve public health facilities. The Pradhan Mantri Ayushman Bharat Health Infrastructure Mission focuses on establishing over 17,000 Health and Wellness Centers, ensuring a steady demand for oxygen supplies in remote areas. The National Health Mission also prioritized strengthening critical care, leading to an increased need for medical oxygen across hospitals and clinics in tier-II and tier-III cities.
Expansion of Healthcare Facilities: The expansion of healthcare facilities into tier-II and tier-III cities has driven the demand for medical oxygen tanks, as these regions lacked adequate oxygen supply infrastructure previously. The number of hospitals in tier-II cities grew by 14% in 2023, with 9,500 new healthcare centers established. The increased availability of hospital beds, particularly ICU units, has necessitated an enhanced supply of oxygen storage and delivery systems. Government-supported healthcare centers in rural areas are now equipped with oxygen facilities, contributing to market growth.
Market Challenges
High Production Costs: The production of medical oxygen tanks involves significant expenses, particularly due to the high-grade materials and stringent safety standards required. Steel prices in India, a major input in manufacturing oxygen tanks, reached INR 61,500 per metric ton in 2023, impacting the overall production costs. Additionally, the costs associated with quality checks, adherence to ISO standards, and BIS certification add to the financial burden on manufacturers, making it difficult to provide affordable solutions in the market.
Regulatory Compliance Issues: Compliance with regulatory standards like BIS certification and ISO norms remains a challenge for manufacturers of medical oxygen tanks. According to the Bureau of Indian Standards, over 4,000 applications for oxygen-related equipment were pending as of mid-2023. The need for strict adherence to safety protocols has led to delays in product approvals and market entry for new players. These regulatory hurdles impact the ability of manufacturers to meet the surge in demand promptly.
India Medical Oxygen Tank Market Future Outlook
The India Medical Oxygen Tank market is set to continue its expansion driven by increasing investments in healthcare infrastructure and the ongoing need for reliable oxygen supply across hospitals and homecare settings. The government's focus on building oxygen plants at district levels, coupled with advancements in portable and lightweight oxygen tanks, will bolster market growth. The market is also expected to benefit from the rising number of private hospitals in rural areas, contributing to a steady demand for oxygen storage solutions.
Future Market Opportunities
Increasing Home Healthcare Services: The growing preference for home healthcare services has driven demand for portable oxygen tanks, especially for patients with chronic respiratory conditions. In 2023, the home healthcare segment in India grew by 18%, with more than 1.5 million patients opting for home-based oxygen therapy. This shift is primarily driven by the rising elderly population and increased awareness of home care solutions. Portable oxygen tanks have become essential for ensuring uninterrupted oxygen supply to patients outside hospital settings, creating a growing market opportunity.
Export Opportunities to Neighboring Countries: India's strategic location and cost-effective manufacturing capabilities offer substantial export opportunities for medical oxygen tanks to neighboring countries like Bangladesh, Nepal, and Sri Lanka. In 2023, India exported over 700,000 units of oxygen tanks and related equipment to South Asian nations. The demand for Indian-manufactured oxygen tanks is high due to their affordability and adherence to global quality standards. This creates a potential growth avenue for Indian manufacturers, helping them capitalize on the regional demand for medical oxygen solutions.
Please Note: It will take 5-7 business days to complete the report upon order confirmation
The India Medical Oxygen Tank market is valued at USD 400 Million, based on a five-year historical analysis. The market is primarily driven by an increased demand for medical oxygen due to the rising prevalence of respiratory conditions like COPD, asthma, and post-COVID complications. The need for reliable oxygen supply in hospitals and homecare settings has further boosted the demand for medical oxygen tanks, supported by government programs such as the PM-ABHIM and Ayushman Bharat that aim to strengthen healthcare infrastructure across urban and rural India.
The market is notably strong in urban areas like Delhi, Mumbai, and Bengaluru, where the concentration of multi-specialty hospitals and advanced healthcare facilities drives higher demand for medical oxygen tanks. Additionally, these cities have greater access to technological advancements in medical equipment, fostering partnerships between local suppliers and global manufacturers. Rural regions in states like Uttar Pradesh and Bihar are emerging markets, supported by recent healthcare expansion programs aimed at improving access to oxygen cylinders in smaller clinics and hospitals.
The National Medical Commission has issued stringent guidelines for medical oxygen supply to ensure safety and quality standards across healthcare facilities. As of 2023, compliance with these guidelines was mandated for over 15,000 hospitals in India. The guidelines focus on maintaining purity levels, proper storage, and safe transportation of medical oxygen, aiming to standardize the quality across the market. This regulatory framework is crucial in maintaining consistent standards, supporting patient safety, and preventing supply chain disruptions.
India Medical Oxygen Tank Market Segmentation
By Product Type: The market is segmented by product type into compressed gas cylinders, liquid oxygen tanks, and portable oxygen concentrators. Compressed gas cylinders have a dominant market share in India under this segmentation due to their cost-effectiveness and widespread availability. Hospitals and emergency services prefer these cylinders for their affordability and ability to store larger volumes of oxygen for immediate use, making them ideal for high-demand scenarios in critical care settings.
By End-User: The market is segmented by end-user into hospitals & clinics, homecare settings, and emergency medical services (EMS). Hospitals and clinics dominate the market due to their consistent need for medical-grade oxygen for patient care, surgeries, and critical care wards. The preference for bulk storage solutions like liquid oxygen tanks and large compressed gas cylinders ensures that hospitals maintain a steady supply of oxygen, especially during peak demands and emergencies.
India Medical Oxygen Tank Market Competitive Landscape
The India Medical Oxygen Tank market is dominated by several key players, including a mix of local and multinational companies. These firms focus on maintaining supply chain efficiency, product quality, and adherence to regulatory standards like BIS certification, contributing to their market dominance.
Company
Establishment Year
Headquarters
Production Capacity (Tons/Day)
Certifications
Key Clients
Distribution Network
Revenue (INR Cr)
No. of Manufacturing Plants
INOX Air Products Pvt. Ltd.
1963
Mumbai, India
Linde India Limited
1935
Kolkata, India
Air Liquide India
1902
New Delhi, India
Praxair India Pvt. Ltd.
1996
Bengaluru, India
BOC India Ltd.
1935
Mumbai, India
India Medical Oxygen Tank Industry Analysis
Growth Drivers
Increase in Respiratory Diseases: The rise in respiratory diseases, such as asthma and chronic obstructive pulmonary disease (COPD), has significantly increased the demand for medical oxygen tanks in India. According to the Ministry of Health and Family Welfare, India reported over 93 million people with asthma and other chronic respiratory conditions in 2023. The impact of the COVID-19 pandemic further exacerbated the demand, with oxygen requirements for hospitals and patients in home care rising sharply in 2022-2023. The demand for medical oxygen peaked during COVID-19 waves, with a daily requirement reaching 8,000 metric tons.
Government Healthcare Investments: Government initiatives like the Ayushman Bharat Health Infrastructure Mission (PM-ABHIM) have led to increased investment in healthcare infrastructure, fueling demand for medical oxygen tanks. In 2023, the government allocated INR 64,180 crore to improve public health facilities. The Pradhan Mantri Ayushman Bharat Health Infrastructure Mission focuses on establishing over 17,000 Health and Wellness Centers, ensuring a steady demand for oxygen supplies in remote areas. The National Health Mission also prioritized strengthening critical care, leading to an increased need for medical oxygen across hospitals and clinics in tier-II and tier-III cities.
Expansion of Healthcare Facilities: The expansion of healthcare facilities into tier-II and tier-III cities has driven the demand for medical oxygen tanks, as these regions lacked adequate oxygen supply infrastructure previously. The number of hospitals in tier-II cities grew by 14% in 2023, with 9,500 new healthcare centers established. The increased availability of hospital beds, particularly ICU units, has necessitated an enhanced supply of oxygen storage and delivery systems. Government-supported healthcare centers in rural areas are now equipped with oxygen facilities, contributing to market growth.
Market Challenges
High Production Costs: The production of medical oxygen tanks involves significant expenses, particularly due to the high-grade materials and stringent safety standards required. Steel prices in India, a major input in manufacturing oxygen tanks, reached INR 61,500 per metric ton in 2023, impacting the overall production costs. Additionally, the costs associated with quality checks, adherence to ISO standards, and BIS certification add to the financial burden on manufacturers, making it difficult to provide affordable solutions in the market.
Regulatory Compliance Issues: Compliance with regulatory standards like BIS certification and ISO norms remains a challenge for manufacturers of medical oxygen tanks. According to the Bureau of Indian Standards, over 4,000 applications for oxygen-related equipment were pending as of mid-2023. The need for strict adherence to safety protocols has led to delays in product approvals and market entry for new players. These regulatory hurdles impact the ability of manufacturers to meet the surge in demand promptly.
India Medical Oxygen Tank Market Future Outlook
The India Medical Oxygen Tank market is set to continue its expansion driven by increasing investments in healthcare infrastructure and the ongoing need for reliable oxygen supply across hospitals and homecare settings. The government's focus on building oxygen plants at district levels, coupled with advancements in portable and lightweight oxygen tanks, will bolster market growth. The market is also expected to benefit from the rising number of private hospitals in rural areas, contributing to a steady demand for oxygen storage solutions.
Future Market Opportunities
Increasing Home Healthcare Services: The growing preference for home healthcare services has driven demand for portable oxygen tanks, especially for patients with chronic respiratory conditions. In 2023, the home healthcare segment in India grew by 18%, with more than 1.5 million patients opting for home-based oxygen therapy. This shift is primarily driven by the rising elderly population and increased awareness of home care solutions. Portable oxygen tanks have become essential for ensuring uninterrupted oxygen supply to patients outside hospital settings, creating a growing market opportunity.
Export Opportunities to Neighboring Countries: India's strategic location and cost-effective manufacturing capabilities offer substantial export opportunities for medical oxygen tanks to neighboring countries like Bangladesh, Nepal, and Sri Lanka. In 2023, India exported over 700,000 units of oxygen tanks and related equipment to South Asian nations. The demand for Indian-manufactured oxygen tanks is high due to their affordability and adherence to global quality standards. This creates a potential growth avenue for Indian manufacturers, helping them capitalize on the regional demand for medical oxygen solutions.
Please Note: It will take 5-7 business days to complete the report upon order confirmation
Table of Contents
89 Pages
- 1. India Medical Oxygen Tank Market Overview
- 1.1. Definition and Scope
- 1.2. Market Taxonomy
- 1.3. Market Growth Rate
- 1.4. Market Segmentation Overview
- 2. India Medical Oxygen Tank Market Size (In INR Crores)
- 2.1. Historical Market Size
- 2.2. Year-On-Year Growth Analysis
- 2.3. Key Market Developments and Milestones
- 3. India Medical Oxygen Tank Market Analysis
- 3.1. Growth Drivers
- 3.1.1. Rise in Healthcare Infrastructure (Hospitals, Clinics)
- 3.1.2. Government Support and Initiatives (e.g., PM CARES Fund)
- 3.1.3. Increased Oxygen Demand During Pandemics
- 3.1.4. Expansion of Medical Tourism
- 3.2. Market Challenges
- 3.2.1. High Installation and Maintenance Costs
- 3.2.2. Lack of Uniform Distribution Across Regions
- 3.2.3. Complex Regulatory Approval for New Tanks
- 3.3. Opportunities
- 3.3.1. Technological Advancements in Tank Design
- 3.3.2. Expanding Private Hospital Networks
- 3.3.3. Export Opportunities to Neighboring Markets
- 3.4. Trends
- 3.4.1. Introduction of Smart Oxygen Tanks with Monitoring Systems
- 3.4.2. Collaborations between Government and Private Sector
- 3.4.3. Growing Awareness of Home Oxygen Systems
- 3.5. Government Regulation
- 3.5.1. Ministry of Health & Family Welfare Standards
- 3.5.2. National Medical Oxygen Plan Regulations
- 3.5.3. Compliance with BIS (Bureau of Indian Standards)
- 3.6. SWOT Analysis
- 3.7. Stake Ecosystem
- 3.8. Porters Five Forces
- 3.9. Competition Ecosystem
- 4. India Medical Oxygen Tank Market Segmentation
- 4.1. By Product Type (In Value %)
- 4.1.1. Portable Oxygen Tanks
- 4.1.2. Fixed Oxygen Tanks
- 4.1.3. High-Pressure Oxygen Tanks
- 4.2. By Application (In Value %)
- 4.2.1. Hospitals
- 4.2.2. Home Healthcare
- 4.2.3. Emergency Response Services
- 4.3. By Material (In Value %)
- 4.3.1. Aluminum
- 4.3.2. Steel
- 4.4. By Capacity (In Value %)
- 4.4.1. Small Capacity (<10 Liters)
- 4.4.2. Medium Capacity (10-50 Liters)
- 4.4.3. Large Capacity (>50 Liters)
- 4.5. By Region (In Value %)
- 4.5.1. North India
- 4.5.2. South India
- 4.5.3. East India
- 4.5.4. West India
- 5. India Medical Oxygen Tank Market Competitive Analysis
- 5.1. Detailed Profiles of Major Competitors
- 5.1.1. Inox Air Products
- 5.1.2. GCE India Pvt. Ltd.
- 5.1.3. Linde India Ltd.
- 5.1.4. Air Water India Pvt. Ltd.
- 5.1.5. BOC India Ltd.
- 5.1.6. Ellenbarrie Industrial Gases Ltd.
- 5.1.7. Praxair India Pvt. Ltd.
- 5.1.8. Allied HealthCare Products Inc.
- 5.1.9. Cryofab Inc.
- 5.1.10. Pacific Consolidated Industries
- 5.1.11. Essex Industries
- 5.1.12. Atlas Copco India
- 5.1.13. Worthington Industries
- 5.1.14. Beijing Tianhai Industry Co., Ltd.
- 5.1.15. Luxfer Group
- 5.2. Cross Comparison Parameters
- 5.2.1. Production Capacity (Liters per Year)
- 5.2.2. Market Presence (Hospitals, Emergency Services, Home Healthcare)
- 5.2.3. Manufacturing Standards (ISO, BIS Certification)
- 5.2.4. Regional Focus
- 5.2.5. Inception Year
- 5.2.6. Innovation in Design and Materials
- 5.2.7. Key Partnerships (Government, Private Sector)
- 5.2.8. Revenue and Market Share
- 5.3. Market Share Analysis
- 5.4. Strategic Initiatives
- 5.5. Mergers and Acquisitions
- 5.6. Investment Analysis
- 5.7. Government Subsidies and Incentives
- 5.8. Private Equity Investments
- 6. India Medical Oxygen Tank Market Regulatory Framework
- 6.1. Medical Device Rules by CDSCO
- 6.2. National Medical Oxygen Policy
- 6.3. Oxygen Cylinder Compliance (Explosive Substances Act)
- 7. India Medical Oxygen Tank Future Market Size (In INR Crores)
- 7.1. Future Market Size Projections
- 7.2. Key Factors Driving Future Market Growth
- 8. India Medical Oxygen Tank Future Market Segmentation
- 8.1. By Product Type (In Value %)
- 8.2. By Application (In Value %)
- 8.3. By Material (In Value %)
- 8.4. By Capacity (In Value %)
- 8.5. By Region (In Value %)
- 9. India Medical Oxygen Tank Market Analysts Recommendations
- 9.1. TAM/SAM/SOM Analysis
- 9.2. Customer Cohort Analysis
- 9.3. Marketing Initiatives
- 9.4. White Space Opportunity Analysis
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