Global medical oxygen market was valued at USD4572.39 million in value terms in 2020 and is forecast to grow at a CAGR of 7.02% in value terms to reach USD6712.32 million by 2026. The global medical oxygen market is driven by the growing prevalence of respiratory diseases among the population. In addition to this, high growth in the geriatric population is anticipated to positively impact the growth of the market during the forecast period. Furthermore, the increasing requirement for home healthcare facilities is further expected to bolster the growth of the market over the next few years.
Currently, the high demand for mechanical ventilators is resulting in a significant shortage of these devices in key countries affected by the COVID-19 outbreak. The unmet demand for mechanical ventilators is forcing biomedical engineers and scientists to create makeshift ventilators using respiratory devices such as PAP, manual resuscitators, nebulizers, oxygen concentrators, and others. This is acting as a pivotal factor for the growth of the medical oxygen market in recent times.
The global medical oxygen market is segmented based on form, purity, delivery mode, modality, technology, application, end user, company, and region. Based on form, the market can be categorized into compressed, liquid oxygen, oxygen concentrators, others. Out of these, the Liquid oxygen segment is expected to dominate during the forecast period. This dominance can be attributed to the rising prevalence of chronic obstructive pulmonary disease (COPD) across the world. In addition to this, it is highly effective in increasing the amount of oxygen in the body to healthy, normal levels, which is further expected to create more opportunities for segmental growth over the coming years.
Major players operating in the global medical oxygen market include Linde Plc, Air Liquide, Air Products and Chemicals, Inc., Taiyo Nippon Sanso Corporation, Messer Group, Cryofab Inc, Terumo Medical Corporation, Keen Compressed Gas Co, GF Health Products Inc., Koninklijke Philips N.V., Invacare Corporation, Goyal MG Gases Private Limited, Ellenbarrie Industrial Gases Limited, Devilbiss Healthcare LLC, Inogen Inc., O2 Concepts,LLC, Teijin Limited, GCE Healthcare, Inova Labs Inc., and Novair Medical. These companies are significantly increasing their training efforts to meet the rising demand for oxygen concentrators in order to expand their market share.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
- To analyze the historical growth in the market size of the global medical oxygen market from 2016 to 2020.
- To estimate and forecast the market size of the global medical oxygen market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the global medical oxygen market based on form, purity, delivery mode, modality, technology, application, end user, company and regional distribution.
- To identify dominant region or segment in the global medical oxygen market.
- To identify drivers and challenges for the global medical oxygen market.
- To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the global medical oxygen market.
- To conduct pricing analysis for the global medical oxygen market.
- To identify and analyze the profile of leading players operating in the global medical oxygen market.
- To identify key sustainable strategies adopted by market players in the global medical oxygen market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of hospitals/medical centers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the hospitals/medical centers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the hospitals/medical centers and presence of all major players across the globe.
TechSci Research calculated the market size of the global medical oxygen market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Medical oxygen hospitals/medical centers and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to medical oxygen
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as hospitals/medical centers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the global medical oxygen market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Global Medical Oxygen Market, By Form:
o Liquid Oxygen
o Oxygen Concentrators
- Global Medical Oxygen Market, By Purity:
o 96% to 99.5%
o 93% to 96%
- Global Medical Oxygen Market, By Delivery Mode:
o Aerial Diffusion
o Direct Inhalation
- Global Medical Oxygen Market, By Modality:
o Portable Medical Oxygen Systems
o Standalone Medical Oxygen Systems
- Global Medical Oxygen Market, By Technology:
o Continuous Flow
o Pulse Dose
- Global Medical Oxygen Market, By Application:
o Lung Disorder
o Heart Failure
o Cystic Fibrosis
- Global Medical Oxygen Market, By End User:
o Ambulatory Centers
o Emergency Medical Centers
- Global Medical Oxygen Market, By Region:
o North America
? United States
? United Kingdom
o Asia Pacific
? South Korea
? Rest of APAC
o Middle East & Africa
? South Africa
? Saudi Arabia
? Rest of MEA
o South America
? Rest of South America
Company Profiles: Detailed analysis of the major companies present in the global medical oxygen market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players