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Medical Oxygen Systems Market

Global Market Study on Medical Oxygen Systems: Liquid Oxygen Systems Product Type Segment to Witness Sustained Growth in the Latter Half of the Forecast Period

Medical Oxygen Systems Market Segmented By Compressed Oxygen Cylinders, Oxygen Concentrators, Liquid Oxygen Systems Product with Portable and Stationary/Standalone Oxygen Systems Modality

Global Medical Oxygen Systems Market Forecast by Product Type

Persistence Market Research forecasts the global medical oxygen systems market to grow from nearly US$ 2,000 Mn in 2015 to almost US$ 4,000 by 2026 end. This represents a CAGR of 8.0% over the forecast period. The global medical oxygen systems market is likely to represent absolute $ opportunity of approximately US$ 200 Mn in 2017 over 2016 and incremental opportunity of nearly US$ 2,000 Mn between 2016 and 2026.

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The latter half of the forecast period is expected to be the key growth period for the liquid oxygen systems segment

Compressed oxygen cylinders segment is the largest segment among the medical oxygen systems market product segments, which was estimated to create nearly US$ 900 Mn or 39.8% share of the total market in 2016 and nearly US$ 1,500 Mn or 36.9% share by 2024, registering a CAGR of 7% over the forecast period.

Oxygen concentrators is the fastest growing segment, which is expected to grow from nearly US$ 700 Mn in 2016 to nearly US$ 1,200 Mn by 2024 over the forecast period. Liquid oxygen systems segment is expected to register a 9.4% CAGR over the forecast period and be valued at nearly US$ 1,300 Mn by 2024 end.

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Compressed Oxygen Cylinders segment is expected to register slight dip in market share over 2019–2020, following which it is expected to stabilize towards the end of the forecast period

Compressed oxygen cylinders segment is expected to create absolute $ opportunity of approximately US$ 60 Mn in 2017 over 2016. By the end of the forecast period, compressed oxygen cylinders segment is projected to reach nearly US$ 1,500 Mn, registering a CAGR of 7%.

Compressed oxygen cylinders segment revenue in the global medical oxygen systems market is expected to grow 1.7x by the end of the projected period as compared to that in 2016.

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Oxygen Concentrators segment growth is projected to spike over 2016-2017, following which it would stabilize towards the end of the forecast period

Oxygen concentrators segment is expected to create absolute $ opportunity of approximately US$ 50 Mn in 2017 over 2016. By the end of 2024, oxygen concentrators segment is projected to reach nearly US$ 1,200 Mn, witnessing a CAGR of 8% over the forecast period. Oxygen concentrators segment revenue in the global medical oxygen systems market is expected to grow 1.8x by 2024 end as compared to that in 2016.

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Unfazed by external factors, the liquid oxygen systems segment is projected to witness steady growth throughout the forecast period

Liquid oxygen systems segment is expected to create absolute $ opportunity of nearly US$ 50 Mn in 2017 over 2016. By the end of the forecast period, liquid oxygen systems segment is projected to reach nearly US$ 1,300 Mn, witnessing a CAGR of 9.4%. Liquid oxygen systems segment revenue in the global medical oxygen systems market is expected to grow 2x by 2024 end as compared to that in 2016.

medical oxygen systems market

Liquid Oxygen Cylinders and Oxygen Concentrators segments’ revenue growth to maintain steady pace throughout the forecast period

Liquid oxygen systems segment dominated the global medical oxygen systems market in revenue terms in 2015 and is projected to continue to do so throughout the forecast period. Liquid oxygen systems segment is the most attractive segment, recording an attractiveness index of 1.1 over the forecast period.

Compressed oxygen cylinders segment accounted for 40.0% value share in 2015 and is expected to decline to account for 36.9% share by 2024 end. Compressed oxygen cylinders segment is expected to be the second most lucrative segment in the global medical oxygen systems market, with an attractiveness index of 1.0 during the forecast period.

With the proliferation of large size and standalone devices there is likely to be a fall in the demand for compressed oxygen cylinders over the forecast period as compared to oxygen concentrators and liquid oxygen systems.

Market segmentation

By Product Type

  • Compressed Oxygen Cylinders
  • Oxygen Concentrators
  • Liquid Oxygen Systems

By Modality

  • Portable Oxygen Systems
  • Stationary/Standalone Oxygen Systems

By End User

 

  • Hospitals
  • Emergency Medical Centers
  • Ambulatory Surgical Centers
  • Home Care Settings

By Region

 

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • 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
  • Others

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