North America Accounts For The Largest Revenue Share Of 33% In Medical Oxygen Systems Market

In a recent market study, Fact.MR covers recent developments in the global medical oxygen systems market, highlighting vital aspects such as trends, drivers, opportunities, and restraints. The report studies recent developments in the segments of the market in terms of end-use industry.

Fact.MR – A Market Research and Competitive Intelligence Provider: The global medical oxygen systems market value registered at US$ 3 Bn in 2020, and is expected to grow at US$ 5 Bn by 2031, growing a market size of CAGR of 7%.

Demand for compressed medical oxygen cylinders is expected to expand at US$ 2 Bn by 2031, increasing at a CAGR of 6% across the assessment period, with that for medical oxygen concentrators expanding at 7%.

Growing healthcare expenditure, better medical facilities, and rapid technological advancements made a huge impact on the market growth. Widespread advancements occurring in the field of healthcare & medicine are major factors responsible for driving demand for medical oxygen systems.

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The FDA in the United States has approved the use of these oxygen concentrators under the Emergency Use Authorization programme, resulting in a major increase in demand for medical oxygen systems in the coming quarters.

As the majority of Covid-19 severe cases necessitate artificial ventilation, demand for wall-mounted oxygen concentrators and piped/canned oxygen is on the rise. The same can be seen in market participants' most recent actions. Demand for medical oxygen systems has impacted by the COVID-19 pandemic, this led to the shortage of medical ventilators worldwide.

To overcome this, biomedical engineers and scientists have developed makeshift devices to mimic the basic functionality of ventilators using existing devices such as oxygen concentrators, anaesthesia machines, and manual resuscitators.

Critical cases of Covid-19 required artificial ventilation, demand for wall-mounted oxygen concentrators, and piped/canned oxygen is seeing an enormous rise.

US$ Mn for Value & ‘000 Units for Volume

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Key Players in the Global Medical Oxygen Systems Market Include:

More Valuable Insights on the Global Medical Oxygen Systems Market

Fact.MR provides an unbiased analysis of the global medical oxygen systems market, presenting forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global medical oxygen systems market with a detailed segmentation on the basis of:

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