Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Medical Oxygen Systems Market Size is Expected to Grow from USD 4.04 Billion in 2023 to USD 7.93 Billion by 2033, at a CAGR of 6.98% during the forecast period 2023-2033.
The medical oxygen systems market refers to the global industry focused on the production, distribution, and sale of oxygen delivery systems used in healthcare settings. These systems include oxygen concentrators, cylinders, liquid oxygen systems, and central pipeline supply systems, which provide medical-grade oxygen for patients suffering from respiratory conditions, critical illnesses, and surgical procedures. The market is driven by increasing respiratory disorders, aging populations, and advancements in oxygen therapy technologies. Furthermore, the market for medical oxygen systems worldwide is fueled by the growth in respiratory diseases such as COPD and COVID-19, a rise in geriatric populations, and an enhancement in home healthcare demand. Advancements in technology, government programs, and growing healthcare infrastructure further drive market expansion. The increased number of surgeries and enhanced accessibility to oxygen therapy also fuel the growth of the market. However, the high equipment costs, stringent regulatory requirements, supply chain disruptions, dependence on oxygen cylinders, infrastructure limitations in developing regions, and risks of oxygen toxicity are key restraints for the growth of the market.
The compressed medical oxygen cylinders segment accounted for the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of the product, the global medical oxygen systems market is divided into compressed medical oxygen cylinders, medical oxygen concentrators, and medical liquid oxygen systems. Among these, the compressed medical oxygen cylinders segment accounted for the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is propagated to their cost-effectiveness, portability, and widespread use in hospitals, emergency centers, and home care settings. Their ease of use, reliable oxygen delivery, and growing demand for oxygen therapy, particularly in respiratory diseases, ensure strong market growth and a significant CAGR.
The portable medical oxygen systems segment accounted for the largest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
On the basis of modality, the global medical oxygen systems market is divided into portable medical oxygen systems and stationary medical oxygen systems. Among these, the portable medical oxygen systems segment accounted for the largest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is ascribed to their convenience, mobility, and growing demand in home care settings and emergency medical services. Increasing adoption for chronic respiratory diseases, advancements in technology improving efficiency, and a rising aging population contribute to the remarkable CAGR during the forecast period.
The medical oxygen systems for hospitals segment accounted for the greatest share in 2023 and is anticipated to grow at a substantial CAGR over the forecast period.
On the basis of the end-user, the global medical oxygen systems market is divided into medical oxygen systems for hospitals, medical oxygen systems for emergency medical centres, medical oxygen systems for ambulatory surgical centres, and medical oxygen systems for home care centres. Among these,the medical oxygen systems for hospitals segment accounted for the greatest share in 2023 and is anticipated to grow at a substantial CAGR over the forecast period. The segmental growth is attributed to the high demand for oxygen in critical care, surgeries, and emergency treatments. Hospitals' advanced infrastructure, large patient volume, and increasing cases of respiratory disorders drive the segment's substantial CAGR over the forecast period.
North America is projected to hold the largest share of the global medical oxygen systems market over the forecast period.
North America is projected to hold the largest share of the global medical oxygen systems market over the forecast period. The regional growth is due to advanced healthcare infrastructure, high healthcare spending, and a large aging population. Additionally, the region has robust reimbursement policies, increasing incidences of respiratory diseases, and strong adoption of medical oxygen systems in hospitals and home care, driving market growth.
Asia Pacific is expected to grow at the fastest CAGR growth of the global medical oxygen systems market during the forecast period. Asia Pacific is expected to grow at the fastest CAGR due to improving healthcare infrastructure, a rising aging population, and increasing prevalence of respiratory diseases. Economic growth, increasing healthcare investments, and government initiatives to improve healthcare access further drive demand for medical oxygen systems. Technological advancements and rising awareness of respiratory health also contribute to the rapid market expansion in the region.
Company Profiling
Major vendors in the global medical oxygen systems market are Koninklijke Philips N.V, Inogen; BOC Healthcare, Precision Medical, Luxfer Group, Cryofab, Responsive Respiratory, Atlas Copco, GCE group, High Vacuum Maintenance (HVM) S.R.L., and others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global medical oxygen systems market based on the below-mentioned segments:
Global Medical Oxygen Systems Market, By Product
Global Medical Oxygen Systems Market, By Modality
Global Medical Oxygen Systems Market, By End-User
Global Medical Oxygen Systems Market, By Regional
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