Liquid Oxygen Devices Market Poised for Strong Growth, Projected to Reach $8.04 Billion by 2028
Liquid Oxygen Devices Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Liquid Oxygen Devices Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 20, 2024 /EINPresswire.com/ -- The liquid oxygen devices market has shown robust growth in recent years, expanding from $5.65 billion in 2023 to $6.06 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. This growth can be attributed to the rising incidence of respiratory disorders, an aging population, increased healthcare spending globally, a shift towards home-based care, favorable government initiatives and regulatory policies, and growing awareness and education.
The liquid oxygen devices market is expected to continue its strong growth, projected to reach $8.04 billion by 2028 at a CAGR of 7.3%. The forecast period's growth will be driven by increasing preference for portable oxygen concentrators over traditional oxygen tanks, expanding healthcare infrastructure, applications in non-medical settings, emphasis on home-based care and telemedicine, and growing awareness of environmental sustainability.
Driving Factors Behind The Growth Of The Liquid Oxygen Device Market Amidst Rising Respiratory Disorders
The increasing incidence of respiratory disorders is expected to propel the growth of the liquid oxygen device market going forward. Respiratory disorders encompass a range of medical conditions affecting the respiratory system, including the lungs, airways, and other structures involved in breathing. Factors contributing to the rise in respiratory disorders include air pollution, tobacco smoke exposure, occupational hazards, genetic predisposition, and lifestyle choices. Liquid oxygen devices provide crucial respiratory support for individuals with respiratory disorders, facilitating easier breathing and improving quality of life, while also offering healthcare providers a reliable means to administer oxygen therapy and monitor patients' respiratory health.
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Key Players and Market Trends
Major companies operating in the liquid oxygen devices market include Air Liquide S.A., Linde plc, Teijin Limited, NTK Oxygen Electronics Co. Ltd., Chart Industries Inc., Invacare Corporation, Cryoquip LLC, ErgoMed Inc., CAIRE Inc., Taylor-Wharton International LLC, DeVilbiss Healthcare, VRV S.p.A., Eleet Cryogenics Inc., FIBA Technologies Inc., Inova Labs, OxyGo LLC, Cryofab Inc., O2 CONCEPTS LLC, PCI Gases, HVM Medical Inc., Oxygen Plus Inc., Oxygen Solutions Inc., Besco Medical Co. Ltd., Nidek Medical, and INOXCVA.
Innovative Cooling Solutions Drive Advancements In Liquid Oxygen Devices
Major companies in the liquid oxygen devices market are focusing on developing advanced solutions, such as incorporating innovative cooling designs to keep the device cool during operation, ensuring optimal performance and reliability over time.
Segments:
1. By Tank Type: Vertical Storage Tanks, Horizontal Storage Tanks
2. By Distribution Channel: Direct Sales, Indirect Sales
3. By End-User: Hospitals, Outpatient Facilities, Home Care, Other End-Users
Geographical Insights: North America Leading the Market
North America was the largest region in the liquid oxygen devices market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period. The regions covered in the liquid oxygen devices market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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Liquid Oxygen Devices Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Liquid Oxygen Devices Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on liquid oxygen devices market size, liquid oxygen devices market drivers and trends, liquid oxygen devices market major players, competitors' revenues, market positioning, and market growth across geographies. The liquid oxygen devices market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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