Global Medical Oxygen Market
Oxygen is used to support respiration system of the body. Medical oxygen is used to provide a basis for virtually all modern anesthetic techniques, restore tissue oxygen tension by improving oxygen availability in a wide range of conditions such as COPD, cyanosis, shock, severe hemorrhage, carbon monoxide poisoning, major trauma, cardiac/respiratory arrest. It also provide life support for artificially ventilated patients and aid cardiovascular stability.
The global medical oxygen market was worth $ XX billion in 2018 and is forecasted to reach $ XX billion by 2026, at a CAGR of XX% during the forecast period.
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Global Medical Oxygen Market – Market Dynamics
The increasing prevalence of respiratory disorders is one of the factor fueling the global medical oxygen market.
COPD accounts for more than 3 million death every year, which is nearly 6% of deaths globally. By 2050, COPD is projected to become the third leading cause of death among global population. Asthma affects over 334 million people each year. Moreover, OSA affects more than 100 million people yearly. OSA symptoms are reported by around 26% of adults across the world annually.
The prevalence of chronic lung disorders such as COPD and pneumonia is high among the older population as the respiratory muscle strength decreases as age progresses.
Obesity and increased tobacco consumption are mainly contributing to the rise in the prevalence of asthma, COPD, and OSA globally, which will fuel the global medical oxygen market.
The rising environmental pollution has caused a spike in the incidence of COPD, asthma, and other respiratory diseases, leading to an increased demand for oxygen therapy. Emerging countries such as APAC, Eastern Europe, and Latin America with high air pollution show strong potential for the growth of medical oxygen market. By 2030, the air pollution and airborne allergens in the US is projected to increase, worsening the asthma scenario. Since the US is the leading revenue contributor in the market, the increased asthma cases will drive the market growth for medical oxygen market.
Global Medical Oxygen Market – Segment Analysis
Based on modality the global market for Medical Oxygen is broadly segmented as by portable oxygen systems, and stationary/standalone oxygen systems.
Currently portable oxygen systems is the dominant segment and it accounts for approximately XX% of the market, due to the launch of new portable oxygen systems.
For instance, in May 2016, Inogen, Inc., a medical technology company offering innovative respiratory products for use in the homecare setting, have introduced its innovative Inogen One G4 portable oxygen concentrator. The ultra-portable device is the smallest and lightest oxygen concentrator.
In November 2018, Bluewater Alkaline Solutions and Cryogenic Products Private Limited have introduced portable Oxygen OXY99 in India. The OXY99 is a light weight portable oxygen system. Italy-based Health major ING L and Boschi is providing technical support for the medical emergency kit ' OXN99" for respiratory disorders.
Global Medical Oxygen Market – Geographical Analysis
The global medical oxygen market is segmented into North America, Europe, Asia Pacific, South America and ROW.
North America is dominating the global medical oxygen market, due to the increase in product launches and strategic partnership of medical oxygen.
For instance, in January 2019, ResMed, a leader in respiratory care medical devices and out-of-hospital care software, have introduced its premier portable oxygen concentrator, Mobi, in the United States.
In January 2019, AOTI Inc. has entered into a strategic relationship with a leading Chinese medical company, Nanning Xinzizhu Trading Co.,Ltd, for distribution of its patented Topical Wound Oxygen (TWO2) therapy wound healing products into the People’s Republic of China.
Global Medical Oxygen Market – Competitive Analysis
The product launch and regulatory approval for medical oxygen is one of the key factor driving the global medical oxygen market.
For instance, in August 2018, Hologic's Cynosure Division Signs Agreement with Porter Instrument to Exclusively Distribute Nitronox Oxygen System in the United States and Canada market.
In October 2015, FAA-approved portable oxygen concentrator (POC), a respiratory assistive devices on aircraft on all flights. Unless the device does not meet applicable FAA requirements for medical portable electronic devices (M-PED) and does not display a manufacturer’s label that indicates the device meets those FAA requirements are not allowed on aircraft.
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Visualize the composition of the medical oxygen market across each indication, in terms of product type, modality type and end user, highlighting the key commercial assets and players.
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Table of Contents
GLOBAL MEDICAL OXYGEN MARKET-SCOPE AND METHODOLOGY
1.1. Research Methodology
1.2. Scope of the market
GLOBAL MEDICAL OXYGEN MARKET –TRENDS AND DEVELOPMENTS
2.1. Key Market Trends and Developments in Medical Oxygen Market
3.4. Pricing Analysis
3.6. Supply Chain Analysis
3.7. Reimbursement policies
3.8. Technological Advancements
3.9. PEST analysis
3.10. Porter’s Five Forces Analysis
Key companies to watch
10.2. List of Tables
10.3. Expert Panel Validation
10.5. Contact Us
Name: Norah Trent
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Organization: WISE GUY RESEARCH CONSULTANTS PVT LTD
Release ID: 494122