Market Overview:

The Global Medical Central Oxygen Supply System Market Was Valued USD 8.98 Billion In 2022 And Is Forecast To Grow At USD 15.99 Billion With CAGR Of 7.48% During Forecast Period.

Medical oxygen is needed for a number of surgical recovery processes, such as making sure the body doesn't run out of oxygen during surgery, treating major traumas like accidents, heart attacks, blood loss, high fever, severe lung disease, and cluster headaches, and resuscitating a person who has stopped breathing. They also give the patient medical oxygen while they are asleep. Medical oxygen can only be given by a doctor or nurse.

Medical oxygen is mostly given to patients through medical central oxygen supply systems like compression cylinders, concentrators, and concentrated oxygen cylinders for hospital use. Manufacturers should be able to make high-tech products that do more than one thing thanks to technological advances in oxygen systems. For example, Inogen, made by Invacare Corporation, is a portable oxygen concentrator that can be connected to a network and used to run medical oxygen systems wirelessly.

Market Dynamics:

Market Trends:

• Launch Of IoT-Enabled Medical Oxygen Plant

Companies in the market are focusing on putting out medical oxygen plants that can connect to the Internet of Things (IoT). IoT-enabled devices can make a big difference in how well patients do. IoT technology helps healthcare facilities make the most of every medical oxygen canister in areas with low oxygen levels so that as many people as possible can get life-saving treatment. This is done through a system that collects data in real time and keeps workers and stakeholders connected all the time. For example, in November 2022, OxyAid, India's first mobile containerized oxygen generator truck with Internet of Things (IoT) capabilities, was launched as part of the National Medical Oxygen Grid project in India. This project is a very important step toward setting up a reliable way for India's rural areas to get medical oxygen. The OxyAid vehicle was made as part of the National Medical Oxygen Grid project. Its purpose is to make sure that medical oxygen is available and easy to get to in the most remote and rural areas, closing the "last-mile supply gap."

Driving Factors:

• Increasing Prevalence of Chronic Diseases

Because of changes in how people live and what they eat, the number of people around the world with obesity and related diseases has grown a lot in the last few years. Between 1975 and 2016, the number of obese people in the world almost tripled. In 2016, the WHO said that more than 1.9 billion adults (18 and older) around the world were overweight. Over 650 million of these people were found to be overweight. Also, about 340 million children and teens between the ages of 5 and 19 were found to be overweight or obese around the world in 2016.

Obesity is thought to be one of the most important reasons why chronic diseases like heart disease and diabetes are becoming more common. The WHO says that there has been a big rise in diabetes, heart disease, and other non-communicable diseases around the world in the last 20 years. In 2015, 149 million people in the US had at least one chronic illness, such as high blood pressure, heart disease, or lung disease, according to the American Hospital Association. This number is expected to reach 171 million by the year 2030. Since medical gases are an important part of long-term care for many chronic conditions, like heart disease, lung disease, and cancer, and since lifestyle diseases are becoming more common, this is likely to be a key factor in the growth of the medical gases and equipment market in the coming years.

• Increasing Product Launches for Medical Oxygen System for Homecare Settings

Most hospitals and health care organizations put in centralized oxygen systems to make sure that there is enough oxygen for all of the patients. The launch of portable oxygen systems in the market has also made a big difference in the growth of the homecare setting segment. For example, GCE Healthcare released the Zen-O portable oxygen concentrator in January 2016. (POC). It weighs 4.66kg (10 lbs) and is easy to carry around. Also, Invacare Corporation released the Invacare Platinum Mobile Oxygen Concentrator in October 2017 with new ways to connect. The Platinum Mobile Oxygen Concentrator and the Piccolo O? App were put together to make them easier to use on a daily basis.

• Increasing Demand from the Healthcare Industry

During the next few years, the oxygen market is likely to grow because the healthcare industry will need more and more oxygen. The people who work in health care use oxygen to treat lung diseases like pneumonia and COVID-19. Oxygen is also very important for surgeries and injuries. The elderly, pregnant women, and babies are all vulnerable groups who need oxygen every day. According to Healthcare Data Breach Statistics, more people used health services in 2021–2022 than in 2020–2021. For example, more people went to a general practitioner (83.6% vs. 82.4%), a dentist (49.4% vs. 47.9%), a doctor (38.9% vs. 37.4%), and an emergency department (ED) at a hospital (14.8% vs. 13.4%). So, the growth of the oxygen market will be helped by the growing demand from the healthcare industry.

Restraints/Challenges:

• Transportation Challenges

During the forecast period, the market is expected to be held back by the difficulties of moving liquid medical oxygen. Liquid oxygen can only be moved in special, expensive, and, in some countries, limited cryogenic ships. For example, JAMA Network, an open-access medical journal in the US, says that medical oxygen will be considered a hazardous material by the US Department of Transportation in 2022. This means that truck drivers who deliver it will need special training. When a hospital got their share, it was less than what they would have normally gotten. This meant they burned through it faster and needed more deliveries more often.

• Global Helium Shortage

Helium is used a lot in the healthcare industry. For example, it is used to cool MRI machines and as a carrier gas in GC and GC-MS procedures. At the moment, about 20% of all helium is used in medical equipment like MRI machines. Most of the helium made in the world is made in the United States. The US Bureau of Land Management has been in charge of the federal helium reserve since the early 1960s. This is where the US government stores helium. In 2012, the helium taken from the federal helium reserve made up more than one-third of the world's helium supplies. But in 2012, the US government planned to close down the oldest helium reserve in Texas. In 2013, a law was passed that reversed the decision to close down the reserve. This law emphasized that helium from the reserve should be taken out at a slower rate and for a higher price so that the transition goes more smoothly and the price of helium on the world market doesn't drop quickly. But even though helium is available from the U.S., there is still a 5–10% shortage of helium for its most important uses in aerospace, defense, and medical applications. So, the prices of helium on the world's markets are likely to go up in the coming years. Due to a lack of helium, companies that make MRI machines have had to look for other gases to use to cool the machines. This could hurt the growth of the medical gases market as a whole.

• High Cost of Ownership of Medical Gas Equipment 

Medical gases, and the equipment that goes with them, are an important part of how well modern healthcare works. Due to the growing need for medical gases, this sector is becoming more and more dependent on it. Also, there is no other way to get medical gases and equipment on the market. Because of this, the costs of setting up and maintaining such a system go up, which raises the total cost of owning the equipment.

Also, the costs of training professionals on how to use medical gas equipment properly will add to the total cost of owning medical gas equipment, which will slow the growth of the market. The cost of medical gas equipment is also affected by costs for regular maintenance and cleaning, regular service, and repairs that were not planned.

Opportunities:

• Technological Advancement

As technology has improved, it has made it possible for medical gas handling equipment used in hospitals and at home to do more and more things. Unlike older equipment, the most technologically advanced equipment provides a system for monitoring and delivering therapy, as well as educational content and a way for patients and healthcare providers to talk to each other. Also, different pieces of medical gas equipment are slowly getting better so that they can provide better care. The growth of the home healthcare market has been helped by the creation of medical gas handling equipment that is light and easy to carry. Several companies that make medical gas equipment are working on making gas delivery systems that are smaller and can be carried by patients. The market for medical gas equipment, especially for home care, is always changing because there are now smaller and cheaper devices on the market. Because there is room for growth in this market, many companies are focusing on putting out more advanced products. Atlas Copco opened a factory in the US in 2017 to make medical gas products for hospitals and portable compressors and generators for the construction industry. In the same way, GCE Healthcare released a line of respiratory care products in the US and Canada in 2016. These products included GCE Portable Oxygen Concentrators, Oxygen Conserving Devices, Oxygen Regulators, and High Purity Gas Control products. This change made it possible for the company to offer more home care therapy services in the US and Canada. In a competitive market, technological innovations like making homecare equipment lighter and more portable and combining different types of gas handling equipment are likely to give market players a lot of opportunities to grow.

• Adoption of At-Home-Care Services and Point-of-Care Diagnostics

Point-of-care (POC) diagnostics show that the need for medical oxygen will grow, which will help the market grow around the world. In a similar way, it is expected that the growth of the international market for medical oxygen will be driven by the rise in demand from the home healthcare sector.

Because older people need help with their breathing all the time, there is a growing need for home healthcare services for senior patients. The World Health Organization (WHO) says that 87% of the disease burden in people over 60 is caused by non-communicable diseases. This means that more people over 60 are hospitalized and need more life-supporting technologies. Because of this, many new technologies and tools are being made to keep people from having to go to the hospital when they need medical oxygen at home or point-of-care testing diagnostics.

Strategic Development:

• In January 2016 - GCE Healthcare released the Zen-O portable oxygen concentrator. (POC). It weighs 4.66kg (10 lbs) and is easy to carry around.
• In October 2017 - The Invacare Platinum Mobile Oxygen Concentrator with new connections was released. The Platinum Mobile Oxygen Concentrator and the Piccolo O App were put together to make them easier to use every day.
• In April 2019 - The U.S. Food and Drug Administration (FDA) gave the go-ahead for TherOx's supersaturated oxygen therapy. The goal of the new method is to treat damaged heart tissue with high levels of oxygen during a single catheter-delivered infusion, which will reduce the size of an infarct consistently and safely.
• In 2021 - Linde PLC worked with its operations in the Asia-Pacific region, including Thailand, China, Singapore, and a few Indian partners, to send ISO cryogenic tankers with about 20 tons of liquid oxygen from all over the region to India.
• In November 2022 - At the Art of Living International Center in Bengaluru, Sri Sri Ravi Shankar officially launched OxyAid in India. OxyAid is a mobile containerized oxygen generator truck that can connect to the Internet of Things. The goal of this launch is to set up a reliable system that will make medical oxygen available in India's most remote areas.
• In April 2022 - BMC opened two plants in India to fill oxygen tanks. There is a big tank that can hold about 13,000 liters. The project can fill between 100 and 120 cylinders each day.

Key Vendors:

Top market players are

• PCI Gases

PCI makes liquid and gaseous oxygen and nitrogen generators that can be used on-site. These generators are made for the Military, Medical, Water and Wastewater Treatment, Industrial, and Oil and Gas markets, among others.

• Oxyplus Technologies (NOVAIR)

The NOVAIR Group is an expert in designing, making, and installing medical gas systems from the source to the patient, as well as nitrogen and oxygen generators for industry. Since 1977, the Group has been based in France. It has a branch in Italy called NOXERIOR and another in the south of France called NOVAIR GAZ MEDICAL SERVICES.

• Oxymat A/S

Since 1978, Oxymat A/S, which is based in Denmark, has been the world's leading provider of advanced PSA generator systems. 

• Oxair

Oxair is a company that makes PSA oxygen and nitrogen generators and sells them to the medical, mining, food, marine, and other industries.

• On Site Gas Systems

On Site Gas Systems was one of the first companies to make oxygen and nitrogen generators. All over the world, the systems are used in mission-critical applications in dozens of different industries.

• OGSI

OGSI makes and sells oxygen generators that can be used on-site. OGSI has a full line of plants from 15 SCFH to 5000 SCFH that use Pressure Swing Adsorption (PSA) technology (5tpd). OGSI also has complete filling plants for cylinders that can fill up to 180 cylinders per day.

• Chart Industries

Chart Industries Inc. (Chart) makes equipment that is designed to do a specific job. It designs and makes cryogenic equipment that is used in the supply chain for liquid gas. The company sells vacuum-insulated containment vessels, cold boxes, liquefaction process units, heat exchangers, other cryogenic parts, fans and equipment for use in normal temperatures, and gas processing equipment.

Segmentation Analysis:

The market is segmented on the basis of product type, application, end-user and region.

By Product Type:

The market for medical gases and equipment is split into two parts: medical gases and medical gas equipment. The medical gases segment made the most money in 2022, because medical gases were in high demand and more people were using them because of COVID-19. During the forecast period, the same segment is expected to have the highest CAGR. This is because more people are getting respiratory diseases that need medical oxygen and more people are using medical gases for diagnostic purposes.

• Medical Gases
  • Pure Medical Gases
  • Medical Gas Mixtures
• Type
• Medical Gas Equipment
  • Compressors
  • Cylinders
  • Hose Assemblies and Valves
  • Masks
  • Vacuum Systems
  • Regulator
  • Others
• Type

By Application Outlook:

The market for medical gases and equipment is split into therapeutic, diagnostic, and other categories. In 2022, the therapeutic segment was the biggest part of the market. This was because more people were using medical gases and equipment to treat diseases, and the number of people with heart disease was going up, which needed oxygen gas. During the forecast period, the diagnostics segment is expected to have the highest CAGR. This is because endoscopy procedures, which use medical gases and equipment, are becoming more common, and the demand for medical gases for diagnostic purposes, such as the use of lung diffusion mixture for pulmonary function testing, is rising.

• Therapeutic
• Diagnostics
• Others

By End-User:

The market for medical gases and equipment is divided into hospitals, outpatient surgery centers, diagnostic and research labs, and other places. In 2022, hospitals were the biggest part of the market. This was because hospitals use a lot of medical gases and equipment, do a lot of surgeries, and have a lot of patients who need oxygen gas. But the other segment is expected to have the highest CAGR during the forecast period. This is because more medical gases are being used in home healthcare and the number of elderly people who need care and medical gases is growing.

• Hospitals
• Ambulatory Surgical Centers
• Diagnostic and Research Laboratories
• Others

Regional Insights:

Geographically, the global Medical Central Oxygen Supply System market has been looked at in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA).

Most of the money came from sales in North America. One important thing that is helping the market grow in this area is the growing number of older people. This group is more likely to get respiratory diseases because their immune systems are weak and they can't take in enough oxygen. During the next few years, Asia-Pacific is expected to be the most profitable market. The main things driving the growth of the regional market are the rapid rise in the number of older people and the number of people with lung diseases. In the region's more developed economy, both living standards and health have gotten a lot better.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• This study gives an in-depth look at the global oxygen supply system market, including current trends and predictions for the future.
• The report gives information about the market's key drivers, barriers, and opportunities, as well as a detailed analysis of the market's share around the world.
• The current market is looked at quantitatively to show the growth scenario of the global oxygen supply system market.
• The report gives a detailed analysis of the global oxygen supply system market based on how competitive it is and how it will change in the coming years