Global medical O2 systems market is projected to grow at US$ 5B by 2031

The global medical oxygen systems market value registered at US$ 3 Bn in 2020, and is expected to grow at US$ 5 Bn by 2031, growing a market size of CAGR of 7%.

Demand for compressed medical oxygen cylinders is expected to expand at US$ 2 Bn by 2031, increasing at a CAGR of 6% across the assessment period, with that for medical oxygen concentrators expanding at 7%.

Growing healthcare expenditure, better medical facilities, and rapid technological advancements made a huge impact on the market growth. Widespread advancements occurring in the field of healthcare & medicine are major factors responsible for driving demand for medical oxygen systems.

The FDA in the United States has approved the use of these oxygen concentrators under the Emergency Use Authorization programme, resulting in a major increase in demand for medical oxygen systems in the coming quarters.

As the majority of Covid-19 severe cases necessitate artificial ventilation, demand for wall-mounted oxygen concentrators and piped/canned oxygen is on the rise. The same can be seen in market participants’ most recent actions. Demand for medical oxygen systems has impacted by the COVID-19 pandemic, this led to the shortage of medical ventilators worldwide.

To overcome this, biomedical engineers and scientists have developed makeshift devices to mimic the basic functionality of ventilators using existing devices such as oxygen concentrators, anaesthesia machines, and manual resuscitators.

Critical cases of Covid-19 required artificial ventilation, demand for wall-mounted oxygen concentrators, and piped/canned oxygen is seeing an enormous rise.

Key Takeaways:

• The scope of medical oxygen systems market value registered US$ 3 Bn in 2020, and is expected to register US$ 5 Bn by 2031.
• The demand for medical oxygen systems consists of product innovations for homecare use and rise in occurrences of respiratory disorders worldwide.
• North America analysis for one-third of the market share for medical oxygen systems.
• Demand for medical oxygen systems in the U.S. registered US$ 711 Mn in 2020.
• Increasing number of COVID-19 cases with breathing disorders is the important factor for the sudden enlargement in demand for medical oxygen systems in India.
• Compressed medical oxygen cylinders computed for 40% revenue share in the market trend.

Growth drivers:

• Growing healthcare expenditure, better medical facilities, and rapid technological advancements ultimately increased the demand for medical oxygen systems worldwide.
• U.S. FDA has allowed oxygen concentrators usage under the Emergency Use Authorization scheme, which will increase demand for medical oxygen systems over the coming quarters.

Competitive Landscape:

• 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.
• In October 2017, Invacare Corporation launched the Invacare Platinum Mobile Oxygen Concentrator with new connectivity. The Platinum Mobile Oxygen Concentrator was associated with the Piccolo O App to improve convenience during routine use.

Key Players in the Global Medical Oxygen Systems Market Include:

• 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.

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