The market for medical oxygen was estimated at USD 890.0 million in 2021, and it is anticipated to reach around USD 5,000.0 million in 2030 row at a CAGR of 7.5% over the following years. The growing number of active smokers and a substantial increase in vulnerability to indoor pollutants. Similarly, an increase in daily exposure to environmental pollution as well as rising geriatric population and associated issues is further accountable for driving the medical oxygen market.
Medical professionals frequently employ medical oxygen gas cylinders for therapeutic and diagnostic purposes. In homecare settings, medical oxygen gas systems like oxygen concentrators and compressed oxygen gas cylinders are widely used. Older patients who have mobility issues and need a consistent oxygen supply typically choose these systems.
Medical oxygen gas cylinders are often used by healthcare practitioners for therapeutic and diagnostic purposes. Medical oxygen gas systems, such as oxygen concentrators and compressed oxygen gas cylinders, are typically favoured by older patients who have mobility limitations and need a steady supply of oxygen. These systems are utilised extensively in homecare settings.
Key Companies Insights
Key players are focusing on their technological partnerships, collaborations, and merger & acquisitions strategies to gain a competitive edge and expand their product portfolio & business footmark. The Covid-19 pandemic hindered the healthcare infrastructure across the world and driven the market players to enhance their products for unexploited opportunities.
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Some of the key players operating in the global medical oxygen market include:
- Linde PLC
- Air Products and Chemicals Inc.
- Air Liquide SA
- Taiyo Nippon Sanso Corp.
- Messer SE & Co KGaA
- Keen Compressed Gas Co.
- Atlas Copco AB
- Gulf Cryo Saudi for Industrial & Medical Gases
- Jubail Gas Plant Co. Ltd.
- Jacko Gases Company
- Aldakheel Industrial Gases Plant (DIGAS)
- Barrak Industrial Gases Plant
- Acail Gas
- WestAir Gases & Equipment Inc.
- Goyal MG Gases Pvt Ltd.
- Haun Welding Supply, Inc.
- AGL Welding Supply Co., Inc.
- THE SOUTHERN GAS LTD.
- Ellenbarrie Industrial Gases Ltd.
- Inox Air Products Pvt Ltd.
- Other players
Some of the Recent Developments:
- In 2021, the Indian Institute of Technology launched AMLEX, the first-of-its-kind Oxygen Rationing Device, to improve the life span of medical oxygen cylinders up to three times. This device delivers only the required amount of oxygen to the patient during inhalation and trips when carbon dioxide is exhaled, hence, saving the oxygen gas from wastage.
- In 2021, Linde PLC collaborated with its operations in Asia-Pacific such as China, Thailand, Singapore and several Indian associates to deliver ISO cryogenic tankers from across the regions, to India.
Segments
By Form
- Liquid Oxygen
- Compressed Oxygen
- Oxygen Gas Mixture
By Delivery Mode
- Tanks/Pipeline
- Cylinder
- Others
By Application
- Therapeutic
- Diagnostics
By End User
- Hospitals & Clinics
- Ambulatory Care Centers
- Homecare
- Others
By Geography
- North America
o U.S.
o Canada
o Mexico
- Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
- Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
- Latin America
o Brazil
o Argentina
o Colombia
- MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
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Key Questions Answered in This Report:
- How has the global Market performed so far and how will it perform in the coming years?
- What are the key regional Markets?
- What has been the impact of COVID-19 on the global Market?
- What is the breakup of the Market based on the type?
- What is the breakup of the Market based on the application?
- What is the breakup of the Market based on the manufacturing process?
- What is the breakup of the Market based on the price range?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global Market and who are the key players?
- What is the degree of competition in the industry?
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