Industry Background:
Medical oxygen systems are also known as oxygen concentrators and compressed oxygen cylinders which are majorly used in homecare settings, and is mostly preferred by elderly patients who have difficulty in mobility, and depend on reliable oxygen supply. Some common chronic medical conditions such as chronic obstructive pulmonary disease (COPD), chronic bronchitis, emphysema, a common long-term effect of smoking requires oxygen therapy or supplemental oxygen in order to get enough oxygen.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Koninklijke Philips N.V (The Netherlands), Inogen, Inc. (United States), BOC Healthcare (United Kingdom), Precision Medical, Inc. (United States), Luxfer Group (United Kingdom), Cryofab, Inc. (United States), Responsive Respiratory, Inc. (United States), Atlas Copco (Sweden), GCE group (Sweden) and High Vacuum Maintenance (HVM) S.R.L. (Italy) |
According to AMA, the market for Medical Oxygen Systems is expected to register a CAGR of 7.0% during the forecast period to 2030. This growth is primarily driven by Increasing Product Launches for Medical Oxygen System for Homecare Settings and Hospitals and Rising Urbanisation and Industrialisation.
Globally, a noticeable market trend is evident Rising Initiatives by Key Players in Development of Medical Oxygen Systems for Various Purposes The Medical Devices sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Koninklijke Philips N.V (The Netherlands), Inogen, Inc. (United States), BOC Healthcare (United Kingdom), Precision Medical, Inc. (United States), Luxfer Group (United Kingdom), Cryofab, Inc. (United States), Responsive Respiratory, Inc. (United States), Atlas Copco (Sweden), GCE group (Sweden) and High Vacuum Maintenance (HVM) S.R.L. (Italy), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Key Developments in the Market:
In September 2021, NF Healthcare, a leading manufacturer and provider of PSA Oxygen generators, launched their unique and highly efficient MOSS 1800F product, with a capacity of producing up to 1000+ LPM of medical-graded oxygen. This product was launched in India with the support of its South Korea-based parent company, aiming to empower hospitals to cater to the needs of patients during a pandemic and provide them with 93±3% pure oxygen.
In October 2023, O2-Matic innovation launched the world’s first portable oxygen generator named 'Portia', which provides life-saving gas in just 40 seconds. It produces 99.7% pure medical-grade oxygen.
Influencing Trend:
Rising Initiatives by Key Players in Development of Medical Oxygen Systems for Various Purposes
Market Growth Drivers:
Increasing Product Launches for Medical Oxygen System for Homecare Settings and Hospitals and Rising Urbanisation and Industrialisation
Challenges:
Stiff Competition Between Major Players
Restraints:
Lack of Awareness among Customers and High Cost Associated with Medical Oxygen Systems
Opportunities:
Growing Technological Advancements and Innovation of Oxygen Therapies and Rising Approvals from the Regulatory Authorities
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Medical Oxygen Systems Market
- Analysis about New Entrants in Medical Oxygen Systems Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Medical Oxygen Systems Study Sheds Light on
The Medical Oxygen Systems Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Oxygen Systems industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Oxygen Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.