Global Hyperbaric Oxygen Therapy Devices Market Size

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The Oxygen Global Market Report 2023 by The Business Research Company, provides oxygen market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Oxygen Global Market Report 2023, the global oxygen market size will grow from $34.83 billion in 2022 to $39.28 billion in 2023 at a compound annual growth rate (CAGR) of 12.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global oxygen is expected to grow from $62.36 billion in 2027 at a CAGR of 12.2%.

The increasing prevalence of various diseases related to breathing problems has contributed to the global oxygen market’s growth by increasing the use of oxygen for medical purposes. Diseases such as Chronic Obstructive Pulmonary Disease (COPD) are more prevalent in the geriatric population. COPD is a type of obstructive lung disease that results in long-term breathing problems. COPD requires the use of an oxygen concentrator, which is a device that improves the level of oxygen in the blood of patients and addresses their breathing problems.

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The oxygen market is segmented:

1) By Product Type: Medical Oxygen, Industrial Oxygen, Other Product Types

2) By Application: Cosmetics, Pharmaceutical, Automobiles, Mining, Mineral processing applications

3) By End User Industry: Metallurgical Industry, Chemical Industry, Health Care Industry, Other End Use Industries

Companies involved in the market are developing innovative ways to utilize oxygen in various industries such as medical, chemical, etc. The rising need among patients across healthcare services acts as a driving force for companies to find new innovative ways to improve oxygen delivery. In order to improve the oxygen delivery and to monitor the oxygen dosage of patients in respiratory care facilities, Camcon Medical introduced Binary Actuation Technology (BAT). BAT is an innovative solution that aids in providing accurate dosage and reduces wastage by providing cost-effective solutions to patients who require oxygen therapy. It is through such innovative methods that entities involved in the oxygen market are able to improve the economic benefit of the products.

The oxygen market report table of contents includes: