Medical Oxygen Systems Market: Providing a Breath of Fresh Air
Medical oxygen systems are prescribed to the patients as a part of oxygen therapy to the patient population suffering from chronic or acute respiratory malfunctions and disorders. Oxygen therapy is also given to children to curb the diseases including cystic fibrosis, congenital heart diseases and severe asthma. The medical oxygen systems provides life support especially to the aging population suffering from respiratory disorders. The other benefits provided by the medical oxygen systems include reduction in fatigue, improving sleeping patterns in sleep apnea cases and easing tightness of breathe. The emergency supply system, redundant tank system and portable systems are the commonly used systems in the healthcare facilities to ensure continuous oxygen supply.
The global medical oxygen systems market was valued at US$ 2,300.5 million in 2017 and is expected to witness a CAGR of 6.3% during the forecast period (2017 – 2025).
Figure 1. Global Medical Oxygen Systems Market Share, By Product Type (%)
Rising surgical procedures is expected to drive the global medical oxygen systems market
The growing consumer awareness for oxygen therapy devices, investments by manufacturers for the production of homecare products and adoption of innovative technologies is expected to rise the global medical oxygen systems market. According to the Centers of Disease Control and Prevention statistics in 2017, around 1.9 million physician office and outpatient visits are recorded with the people suffering from heart disease in the U.S. North America is expected to dominate the global medical oxygen systems market owing to increasing prevalence of COPD, changing consumer lifestyles, increased government expenditures for research and development on cost-effective oxygen devices. The innovative portable and ultra-light oxygen concentrator separates nitrogen and oxygen from the environmental air providing 95% pure oxygen to patients. Portable oxygen concentrators are largely used by travelers and mountaineers in regions of inadequate oxygen supply, thereby fueling growth of the medical oxygen systems market.
Increasing demand for medical oxygen systems in accidental cases is a prominent factor to fuel the medical oxygen systems market
The rising number of patients requiring ambulatory services, increasing prevalence of untreated obstructive sleep apnea, rising per capita healthcare spending and ease in access to healthcare services boost the medical oxygen devices market in Asia Pacific. According to the annual global road crash statistics, 20-50 million people are injured or disabled, with 1.3 million deaths recorded each year. Also, the road fatalities account for a total US$ 65 billion, exceeding the amount of developmental assistance. The key players operating the medical oxygen systems market are focusing on designing clinically efficient products to improve the quality of life of the patients and favorable reimbursement policies. Manufacturers are working hard to build compact, lighter cost effective devices that provide greater patient mobility like rolling two wheel oxygen tank cylinder. For instance, Inogen offers oxygen concentrator designed for the use of patients at home which provides ideal flow settings and energy efficient systems providing less energy than the standard market stationary concentrators. Also, Ceodeux Meditec innovation focuses on improving patient outcomes by collaborating with university partners, thereby providing custom medical gas solutions, and revolutionary cartridge technology offering low-level maintenance. For instance, the launch of compact and ultra-precise medical gas regulator MINIOX in 2017, ideal for hospital and homecare respiratory therapy.
Medical oxygen systems are equipment ranging in various sizes containing oxygen. The stored oxygen is obtained in compressed, concentrated or liquid form. Medical oxygen systems are the integral factors supporting life systems in the healthcare facilities. The supplemental oxygen is delivered to the patient via oxygen mask. These systems are used to aid cardiovascular stability, restore tissue oxygen tension by improving oxygen availability, provide basis for the modern anesthetic techniques.
The medical oxygen systems market is expected to gain steady traction in the foreseeable future, as the devices finds application across a wide number of healthcare facilities. Manufacturers are focused on producing ultra-lightweight cylinders. For instance, the ultra-lightweight oxygen cylinders are portable devices manufactured by Luxfer and Boschi Italy, offering cost effective oxygen cylinders that are 30% lighter than conventional cylinders. Patient-driven system design and embedded valve regulatory technology by developing light weight portable oxygen systems.
The increasing prevalence of chronic obstructive pulmonary diseases is the major factor driving the global medical oxygen systems market. According to the Department of Economic and Social Affairs Population Division 2013, the global geriatric population is set to reach over 2 billion by 2050 from 800 million in 2012. The geriatric population is at a higher risk of acquiring respiratory diseases like fibrosis, pulmonary hypertension and asthma. Additionally, the rising preference of interventional cardiologists for nonsurgical procedures, technological innovations and significant growth of the portable oxygen concentrators is expected to drive the growth of the medical oxygen systems market in North America and Western Europe over the forecast period. However, expensive product costs and stringent FDA regulations for the approval of new systems are the restraining factors for the global medical oxygen systems market.
This report segments the global medical oxygen systems market on the basis of product type, modality, end user, and geography. On the basis of product type, the medical oxygen systems market is categorized into compressed oxygen cylinder, oxygen concentrator and liquid oxygen system. On the basis of modality, the medical oxygen systems market is categorized into portable oxygen cylinder and stationary/ standalone oxygen system. On the basis of end-user, the medical oxygen systems market is categorized into hospital, emergency medical centers, ambulatory surgical centers, home care settings and others. For comprehensive understanding of market dynamics, the global medical oxygen systems market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 50 market data tables and 35 figures on "Medical Oxygen Systems Market - Global forecast to 2025”.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.