16-Nov-2021 | Zion Market Research
As per the findings of Zion Market Research study, Oxygen industry garnered profits worth US$ 27,549 million in 2020 and is anticipated to amass revenue of approximately US$ 32,052 million by 2028. Moreover, Oxygen market is expected to record a CAGR of approximately 6.2% in 2021-2028. Furthermore, growth of oxygen market over forecast timespan is subject to massive use of oxygen in surgeries and for COVID-19 patients. Apart from this, large-scale allocation of capital by players to set up oxygen manufacturing units is likely to prompt growth of oxygen market in upcoming years. Reportedly, in September 2021, NOVAIR Group - a major medical oxygen producer based in France- is predicted to favorably impact growth of oxygen market through Euro 26 Mn funding of the firm by Eurazeo, a French-based global investment group. Such moves are projected to typify massive growth of oxygen market in near future.
Nasal Canula Segment To Dominate Route Of Administration Landscape By 2028
Growth of nasal canula segment over forecast timespan can be credited to prominent delivery of oxygen through nasal canula in conditions such as chronic hypoxemia due to severe COPD as well as cystic fibrosis. Moreover, nasal canula is utilized for oxygen delivery in case of mild hypoxia.
Hospitals Segment To Make Notable Contributions Towards Overall Market Size By 2028
Massive demand for oxygen for treating COVID-19 patients in hospitals & clinics is likely to prop up growth of hospitals segment over forecast period. Additionally, necessity of treating patients suffering from chronic disorders in hospitals will further augment scope of segmental growth in upcoming years. Apart from this, oxygen is utilized for patients on whom surgery is going to be performed and is made available to those who are in ICU due to critical condition. The patients in ICU are provided oxygen through ventilators in clinics & hospitals. All these aforementioned aspects will ensure enlarged growth of hospitals segment in coming years.
North America To Make Notable Contributions Towards Overall Market Growth By 2028
Expansion of oxygen market in North America over assessment period is subject to huge oxygen usage in scientific applications & waste recycling in countries such as Canada and the U.S. Apart from this, massive utilization of oxygen in various industries in these countries will further contribute towards regional market size.
Key players influencing market growth and profiled in report are Koninklijke Philips N.V., Precision Medical, Inc., Invacare Corporation, Drive DeVilbiss Healthcare LLC, Besco Medical Co. Ltd., AirSep Corporation, Chart Industries, Inc., Nidek Medical Products, Inc., Philips Healthcare, and O2 CONCEPTS, LLC.
Browse the full “Oxygen Market - By Route Of Administration (Nasal Cannula, Transtracheal Catheters, Face Masks, Ventilators, And Neonatal Incubators), By Application (Hospitals, Ambulatory Units, And Homecare Settings), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/oxygen-market
The global Oxygen Market is segmented as follows:
By Route of Administration
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