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The increasing prevalence of various diseases related to breathing problems are expected to drive innovation in oxygen manufacturing, thus driving the market during the forecast period.

The global oxygen market is expected to grow from $34.83 billion in 2022 to $39.28 billion in 2023 at a compound annual growth rate (CAGR) of 12.8%. The global oxygen market size is expected to grow from $62.36 billion in 2027 at a CAGR of 12.2%.

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Global Oxygen Market Segments Include:

• By Product Type: Medical Oxygen, Industrial Oxygen, Other Product Types
• By Application: Cosmetics, Pharmaceutical, Automobiles, Mining, Mineral processing applications
• By End User Industry: Metallurgical Industry, Chemical Industry, Health Care Industry, Other End Use Industries
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global oxygen market in 2021.

Major Market Players in the oxygen market include Linde Group, Praxair Technology Inc., Air Liquide, Taiyo Nippon Sanso, Yingde Gases, Air Water Inc., Airgas Inc., Guangdong Haute Gas Co. Ltd., and Baosteel Metal Co. Ltd.

Companies involved in the market are developing innovative ways to utilize oxygen in various industries such as medical, chemical, etc. The rising need among patients across healthcare services acts as a driving force for companies to find new innovative ways to improve oxygen delivery. In order to improve the oxygen delivery and to monitor the oxygen dosage of patients in respiratory care facilities, Camcon Medical introduced Binary Actuation Technology (BAT). BAT is an innovative solution that aids in providing accurate dosage and reduces wastage by providing cost-effective solutions to patients who require oxygen therapy. It is through such innovative methods that entities involved in the oxygen market are able to improve the economic benefit of the products.

The Oxygen Global Market Report 2023  provides a oxygen market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The oxygen market forecast analyzes oxygen market size, oxygen market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Oxygen is a colorless, non-metallic gas that is highly reactive in nature. Oxygen forms oxides with many compounds and other elements. The oxygen is used in various applications, such as steel mills to oxidize unwanted impurities in steel. Oxygen is also used in the food industry, medical oxygen for respiration, and oxy-acetylene torches.

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