Medical Oxygen Systems Market
North America, Europe’s medical oxygen system market is anticipated to showcase quickest development by registering a 7.8% CAGR by way of 2024
PUNE, MAHARASHTRA, INDIA, August 31, 2022 /EINPresswire.com/ — Demand for medical oxygen programs is predicted to witness continued consolidation throughout world healthcare trade. The pronounced want for offering oxygen to sufferers present process medical operations compels healthcare system producers from round the world in direction of delivering faultless medical oxygen programs.
An analytical research of world medical oxygen system market, printed by Persistence Market Research, estimates that world revenues secured from gross sales of medical oxygen programs reached an estimated US$ 2 billion by the end of 2016. Apropos this research, the world medical oxygen system revenues will soar at 8% CAGR to reach US$ 3.89 billion by the end of 2024.
In the report, titled “Medical Oxygen Systems Market: Global Industry Analysis and Forecast, 2016-2024,” Persistence Market Research initiatives that North America will exhibit its dominance in the world medical oxygen system market by accounting for greater than 35% income share by end of evaluation interval.
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Company Profiles
Cryofab Inc
Respironics, Inc. (Koninklijke Philips N.V.)
MEDTRONIC
Atlas Copco
Terumo Medical Corporation
Keen Compressed Gas Co
Inogen Inc
GF Health Products, Inc.
Invacare Corporation
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US-based corporations comparable to GF Health Products, Inc., Keen Compressed Gas Co., Cryofab Inc., Inogen, Inc. and Invacare Corporation are acknowledged as main gamers in the world medical oxygen system market. Meanwhile, Terumo Corporation is a Japanese medical system producer that’s recognized for engineering merchandise with increased practicability and higher security.
Subsequent to North America, Europe’s medical oxygen system market is anticipated to showcase quickest development by registering a 7.8% CAGR by way of 2024. Atlas Copco, Koninklijke Philips N.V., and Medtronic plc, are main producers of medical oxygen programs profiled in the report.
Soaring Demand for Liquid Oxygen Systems
In 2016, compressed oxygen cylinders price over US$ 800 million have been bought globally, whereas oxygen concentrators accounted for 30% of world medical oxygen system revenues. Over the forecast interval, liquid oxygen programs will emerge to be fastest-growing product in world medical oxygen system market, registering a stellar 9.4% CAGR. By the end of 2024, world medical oxygen system revenues will be break up with nearly equal income share accounted by compressed oxygen cylinders, oxygen concentrators in addition to liquid oxygen programs.
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Method of medically-delivering oxygen additionally performs an instrumental position in figuring out the projections for world medical oxygen programs market. Fortunately, producers of medical oxygen programs can proceed extending their product portfolio uniformly for each, standalone and moveable medical oxygen programs. While the demand for moveable medical oxygen programs is projected to incur a slight dip, each modalities will be splitting the world market revenues equally by way of 2024.
Home Care Settings – Largest End-user of Medical Oxygen Systems
This report predicts that consumption of medical oxygen programs will stay marginally excessive in dwelling care settings. Hospitals will unarguably proceed utilizing rather a lot of medical oxygen programs and merchandise, however their stake in world medical oxygen programs revenues by 2024 will expertise a downtrend. Emergency medical facilities and ambulatory surgical facilities (ASCs) will even be key end-users of medical oxygen programs.
In 2016, greater than US$ 1 billion price of medical oxygen programs have been used by ASCs and emergency medical facilities from round the world. Nevertheless, dwelling care settings are projected to be largest end-user of medical oxygen programs in the world. By the end of 2024, revenues amassed from dwelling care settings will reach US$ 1 billion – hovering at the highest CAGR of 9.5% and procuring practically 30% of the world market worth.
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PMR
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