Published by Coherent Market Insights
Posted on September 21, 2021
Global Medical Oxygen System Market Insights
Medical oxygen systems such as oxygen concentrators and compressed oxygen cylinder are mainly used in homecare settings, and are preferred by geriatric patients, who have difficulty in mobility, and depend on a reliable oxygen supply. 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. Various type of oxygen systems are used to deliver controlled amount of oxygen to the patients.
Among end user, homecare settings segment in the global medical oxygen system market is expected to witness significant growth over the forecast period, owing to rising prevalence of chronic obstructive pulmonary diseases (COPD) among the geriatric population. For instance, according to the World Health Organization (WHO), in 2016, 251 million people around the globe suffered from COPD.
The global medical oxygen system market is estimated to be valued at US$ 2,459.8 million in 2018, and is expected to exhibit a CAGR of 7.4% during the forecast period (2018-2026).
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Increasing product launches for medical oxygen system for homecare settings and hospitals is expected to drive growth of the global medical oxygen system market
Most of the hospitals and healthcare organizations install centralized oxygen systems in hospitals, in order to ensure large amount of supply to the patients. Homecare setting segment is also contributing majorly to growth of the market, owing to launches of portable oxygen systems in the market. For instance, in January 2016, GCE Healthcare launched Zen-O portable oxygen concentrator (POC). It is lightweight oxygen therapy device that weighs 4.66kg (10lbs) and easy to carry around. Moreover, in October 2017, Invacare Corporation launched the Invacare Platinum Mobile Oxygen Concentrator with new connectivity. The Platinum Mobile Oxygen Concentrator was combined with the Piccolo O? App to improve convenience during routine use.
Moreover, increasing approvals from the regulatory authorities for oxygen therapies is expected to increase the demand for medical oxygen systems, which is expected to drive the market growth. For instance, in April 2019, TherOx received the U.S. FDA approval for its supersaturated oxygen therapy. The new approach is intended for the treatment of damaged heart tissue with hyperbaric levels of oxygen during a single catheter-delivered infusion, consistently and safely reducing infarct size.
Global Medical Oxygen System Market- Regional Analysis
Regional segmentation of the global medical oxygen systems market comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to witness signficant growth in the global medical oxygen system market, owing to presence of leading manufactures for medical oxygen systems and increasing product launches these players in this region. Leading manufacturers such as Imogen, Invacare Corporation, CAIRE, Inc., and O2 Concepts, LLC, that offer innovative oxygen concentrators, have high presence in the U.S. market. Furthermore, key players in the market are focusing on launching new products. For instance, in April 2019, Imogen, Inc. INGN launched its Imogen One G5 in the U.S. market
Moreover, oxygen system providers are engaged in expansion of their oxygen filling plants in Asia Pacific region, which is contributing to Asia Pacific medical oxygen system market growth. For instance, in February 2019, Kitajima Sanso, a distributor of medical gas, built medical oxygen filling plant in Myanmar. The new plant is equipped with two cryogenic gas storage tanks of 20 and 10 tons.
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The latest developments, market shares, and strategies that are employed by the major market players.
Europe is expected to account for the largest market share, owing to rising initiatives by key players in development of medical oxygen systems for various purposes. Increasing initiatives by regional key players and emergency medical service providers is expected to aid in growth of Europe medical oxygen system market. For instance, in June 2017, Medical Gas Solutions (MGS) was awarded with a contract to supply vital medical gases, including oxygen (O2) and analgesic gases to over one thousand emergency vehicles included in the North West Ambulance Service (NWAS) NHS Trust, across the North West of the U.K.
Global Medical Oxygen System Market – Competitive Landscape
Key players operating in the global medical oxygen system market include Koninklijke Philips N.V, Inogen, Inc., BOC Healthcare, Precision Medical, Inc., Luxfer Group, Cryofab, Inc., Responsive Respiratory, Inc., Atlas Copco, GCE group, and High Vacuum Maintenance (HVM) S.R.L.
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The post Medical Oxygen System Market is expected to be at US$ 4,341.3 million in 2027 at a CAGR 7.4% | Coherent Market Insights appeared first on Gatorledger.
Global Medical Oxygen System Market Insights
Medical oxygen systems such as oxygen concentrators and compressed oxygen cylinder are mainly used in homecare settings, and are preferred by geriatric patients, who have difficulty in mobility, and depend on a reliable oxygen supply. 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. Various type of oxygen systems are used to deliver controlled amount of oxygen to the patients.
Among end user, homecare settings segment in the global medical oxygen system market is expected to witness significant growth over the forecast period, owing to rising prevalence of chronic obstructive pulmonary diseases (COPD) among the geriatric population. For instance, according to the World Health Organization (WHO), in 2016, 251 million people around the globe suffered from COPD.
The global medical oxygen system market is estimated to be valued at US$ 2,459.8 million in 2018, and is expected to exhibit a CAGR of 7.4% during the forecast period (2018-2026).
Request for Sample Copy Here: https://www.coherentmarketinsights.com/insight/request-sample/539
Increasing product launches for medical oxygen system for homecare settings and hospitals is expected to drive growth of the global medical oxygen system market
Most of the hospitals and healthcare organizations install centralized oxygen systems in hospitals, in order to ensure large amount of supply to the patients. Homecare setting segment is also contributing majorly to growth of the market, owing to launches of portable oxygen systems in the market. For instance, in January 2016, GCE Healthcare launched Zen-O portable oxygen concentrator (POC). It is lightweight oxygen therapy device that weighs 4.66kg (10lbs) and easy to carry around. Moreover, in October 2017, Invacare Corporation launched the Invacare Platinum Mobile Oxygen Concentrator with new connectivity. The Platinum Mobile Oxygen Concentrator was combined with the Piccolo O? App to improve convenience during routine use.
Moreover, increasing approvals from the regulatory authorities for oxygen therapies is expected to increase the demand for medical oxygen systems, which is expected to drive the market growth. For instance, in April 2019, TherOx received the U.S. FDA approval for its supersaturated oxygen therapy. The new approach is intended for the treatment of damaged heart tissue with hyperbaric levels of oxygen during a single catheter-delivered infusion, consistently and safely reducing infarct size.
Global Medical Oxygen System Market- Regional Analysis
Regional segmentation of the global medical oxygen systems market comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to witness signficant growth in the global medical oxygen system market, owing to presence of leading manufactures for medical oxygen systems and increasing product launches these players in this region. Leading manufacturers such as Imogen, Invacare Corporation, CAIRE, Inc., and O2 Concepts, LLC, that offer innovative oxygen concentrators, have high presence in the U.S. market. Furthermore, key players in the market are focusing on launching new products. For instance, in April 2019, Imogen, Inc. INGN launched its Imogen One G5 in the U.S. market
Moreover, oxygen system providers are engaged in expansion of their oxygen filling plants in Asia Pacific region, which is contributing to Asia Pacific medical oxygen system market growth. For instance, in February 2019, Kitajima Sanso, a distributor of medical gas, built medical oxygen filling plant in Myanmar. The new plant is equipped with two cryogenic gas storage tanks of 20 and 10 tons.
Get Flat USD 2000 OFF
Buy-Now this research report: https://www.coherentmarketinsights.com/promo/buynow/539
Reasons to Purchase this Report:
Current and future of global Cancer Registry Software Market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
Regions/countries that are expected to witness the fastest growth rates during the forecast period.
The latest developments, market shares, and strategies that are employed by the major market players.
Europe is expected to account for the largest market share, owing to rising initiatives by key players in development of medical oxygen systems for various purposes. Increasing initiatives by regional key players and emergency medical service providers is expected to aid in growth of Europe medical oxygen system market. For instance, in June 2017, Medical Gas Solutions (MGS) was awarded with a contract to supply vital medical gases, including oxygen (O2) and analgesic gases to over one thousand emergency vehicles included in the North West Ambulance Service (NWAS) NHS Trust, across the North West of the U.K.
Global Medical Oxygen System Market – Competitive Landscape
Key players operating in the global medical oxygen system market include Koninklijke Philips N.V, Inogen, Inc., BOC Healthcare, Precision Medical, Inc., Luxfer Group, Cryofab, Inc., Responsive Respiratory, Inc., Atlas Copco, GCE group, and High Vacuum Maintenance (HVM) S.R.L.
Contact US:
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837
The post Medical Oxygen System Market is expected to be at US$ 4,341.3 million in 2027 at a CAGR 7.4% | Coherent Market Insights appeared first on Gatorledger.
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