Press release
Liquid Oxygen Devices Market Size Forecasted To Achieve $8.61 Billion By 2029 With Steady Growth
Liquid Oxygen Devices
What Is the Liquid Oxygen Devices Market Size and Projected Growth Rate?
The liquid oxygen devices market has seen substantial growth in recent years. It is expected to expand from $6.06 billion in 2024 to $6.52 billion in 2025, reflecting a CAGR of 7.5%. This growth is driven by the rising incidence of respiratory diseases, an aging population, higher healthcare spending globally, the shift towards home care, favorable government initiatives, and greater awareness.
The liquid oxygen devices market is expected to grow significantly, reaching $8.61 billion by 2029, at a CAGR of 7.2%. Growth is driven by the increasing preference for portable oxygen concentrators, growing healthcare infrastructure, and rising demand for home-based care and telemedicine. Trends include miniaturization and portability, IoT integration for digital health platforms, advanced battery technology, smart oxygen delivery systems, and customizable liquid oxygen devices.
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What Are the Major Segments in the Liquid Oxygen Devices Market?
The liquid oxygen devices market covered in this report is segmented -
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
Subsegments:
1) By Vertical Storage Tanks: Cryogenic Vertical Tanks, Ambient Temperature Vertical Tanks
2) By Horizontal Storage Tanks: Cryogenic Horizontal Tanks, Ambient Temperature Horizontal Tanks
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What Are The Driving Liquid Oxygen Devices Market Evolution?
The increasing incidence of respiratory disorders is expected to drive the growth of the liquid oxygen device market. Respiratory disorders, which affect the lungs, airways, and other respiratory structures, are rising due to factors such as air pollution, tobacco smoke, and occupational hazards. Liquid oxygen devices are crucial in providing respiratory support for individuals with such disorders, helping them breathe more easily and enhancing their quality of life. For instance, in November 2023, the Centers for Disease Control and Prevention reported 8,331 tuberculosis cases in the U.S. in 2022, marking a 5.9% increase from the previous year. Therefore, the growing incidence of respiratory disorders is driving the liquid oxygen device market.
Which Firms Dominate The Liquid Oxygen Devices Market Segments?
Major companies operating in the liquid oxygen devices market are 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, INOXCVA
What Are the Major Trends Shaping the Liquid Oxygen Devices Market?
Leading entities in the liquid oxygen devices market are prioritizing the development of enhanced solutions like introducing innovative cooling designs that maintain the device's optimum performance and reliability over extended periods. The liquid oxygen devices' twin-blower cooling system involves a process where air is pressurized, cooled, and splintered into oxygen and nitrogen. In April 2023, for example, OxyGo HQ Florida LLC, a US-based firm that manufactures portable oxygen concentrators, unveiled the OxyHome 5L Stationary Concentrator. This novel device is engineered to offer a constant flow of oxygen up to 5 liters per minute for residential use. It boasts a contemporary design and a petite form to suit all home settings. The highlighted key feature is its twin-blower cooling system, guaranteeing long-lasting optimal and reliable performance.
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Which Is The Largest Region In The Liquid Oxygen Devices 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 in the forecast period. The regions covered in the liquid oxygen devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Liquid Oxygen Devices Market?
2. What is the CAGR expected in the Liquid Oxygen Devices Market?
3. What Are the Key Innovations Transforming the Liquid Oxygen Devices Industry?
4. Which Region Is Leading the Liquid Oxygen Devices Market?
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