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The ongoing Covid-19 crisis is pushing the demand and supply of life support gases such as oxygen and related equipment to tackle various health issues arising due to the side effects of contracting the virus.
Covid-19 has taken a toll on the health of many people worldwide. As it is a respiratory disease having a negative impact on the lungs thereby resulting in a drop in oxygen levels, the need for therapeutic gases and oxygen is on the rise across several countries. There has been a surge in demand for oxygen and related equipment for medical care ever since the onslaught of Covid-19 in early 2020. Governments and medical organisations are actively spending on life support medical gases to meet the current demand as the pandemic continues to wreak havoc in countries like India where the healthcare system is greatly strained owing to a deadlier second wave and a new variant of the virus.
Life Support Medical Gases: Factors of Growth & Demand in 2021
The rising number of covid cases and chronic diseases have pushed the need for instant innovation and production of life support medical gases and equipment. It is noted that regulatory bodies like FDA have become proactive in approving medical gas equipment and innovations to tackle the pandemic with heightened levels of seriousness. Hospitals and all dedicated covid-care facilities arebeing equipped with centralised oxygen.The CPAP ventilator system such as MMO’s Uni-Life 100 is also seen as a substantial solution for tackling patients suffering from breathing related problems. This has incurred the growth of Life Support Medical Gases resulting in USD 15.41 Billion revenue in 2020 which is further expected to grow in 2021.
Spurring Demand for Oxygen: Pre-Emptive Measures to Tackle Acute Issues resulting in Growing Demands
The demand for life-saving oxygen gas is growing as the number of cases is rising manifold. Countries are reviewing the demand for oxygen supply to address the shortages as covid-19 waves are still prevalent and observed to hugely impact the population due to its complication in critical care where the need for oxygen is crucial. As per the latest figures, the demand for oxygen cylinders has risen to 1.1 million owing to the persisting covid crisis in 2021.
The oxygen gas market is further segmented based on need, criteria, end-userand location. Most of the demand in 2021 has fueled the medical industry to meet new challenges amidst the pandemic and be better prepared for future emergencies.