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The oxygen market has experienced rapid expansion, surging from $39.28 billion in 2023 to $44.3 billion in 2024, reflecting a compound annual growth rate (CAGR) of 12.8%. Historical growth can be attributed to strong economic expansion in emerging markets, increased industrialization, elevated demand for medical oxygen during the COVID-19 pandemic, growing emphasis on home healthcare, and rising demand from the aerospace industry. Forecasts indicate continued growth, with the market projected to reach $70.65 billion in 2028, with a CAGR of 12.4%. This growth is underpinned by increasing government support, a burgeoning aging population, escalating air pollution levels, and rising demand for oxygen in the healthcare sector. Notable trends include the launch of IoT-enabled medical oxygen plants, increased investments, advancements in oxygen generators, the emergence of high-flow nasal therapy, the introduction of air separation plants, and a strategic shift towards portable oxygen concentrators.

The global oxygen market is witnessing substantial growth attributed to the increasing prevalence of diseases associated with respiratory problems, necessitating the use of medical oxygen. Chronic obstructive pulmonary disease (COPD), prevalent among the geriatric population, poses long-term breathing challenges, necessitating interventions like oxygen concentrators. According to the World Health Organization (WHO), the population aged 80 years or older is projected to triple by 2050, reaching 426 million individuals. This demographic shift underscores the escalating demand for portable oxygen concentrators to address respiratory ailments, thus propelling growth in the oxygen market. The market’s trajectory aligns with the evolving healthcare landscape, emphasizing the critical role of oxygen therapy in managing respiratory conditions and improving patient care.

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What Are The Key Trends That Influence Oxygen Market Share Analysis?

Companies in various industries, including medical and chemical sectors, are exploring innovative uses of oxygen. The growing demand for improved oxygen delivery among patients drives companies to develop new methods. For example, Camcon Medical introduced Binary Actuation Technology (BAT) to enhance oxygen dosage accuracy and reduce wastage, providing cost-effective solutions for patients needing oxygen therapy. Such innovations help improve the economic benefits of oxygen-related products.

Which Market Players Are Driving Growth In The Oxygen Market?

Major companies operating in the market are Air Liquide, The Linde Group, Mitsubishi Chemical Holdings Corporation, Air Products and Chemicals Inc, Yingde Gases, The BOC Group plc, Air Water Inc., Messer Group GmbH, Iwatani International Corporation, Guangdong Huate Gas Co., Ltd, ResMed, Nidek Medical industries, Praxair Inc, Core Industrial Gases, Taiyo Nippon Sanso, AMCS Corporation, Flogas Britain Ltd, NGK Spark Plug Co, Ltd, WIKA Alexander Wiegand SE & Co. KG, SOL SpA, Supagas, GRASYS, Invacare corporation, Inogen Inc, Drive deviibiss industries, Oxair, SAID Group, Matheson Tri-Gas, Messer Gases del Peru S.A., BOC Healthcare, Gulf Cryo, Buzwair, Gas Africa, Afrox

How Is The Global Oxygen Market Segmented?

The oxygen market covered in this report is segmented –

1) By Product: Medical Oxygen, Industrial Oxygen, Other Product Types
2) By Form: Companion Animals, Livestock
3) By Application: Cosmetics, Pharmaceutical, Automobiles, Mining And Mineral Processing, Healthcare, Other Applications
4) By End-User Industry: Metallurgical Industry, Chemical Industry, Health Care Industry, Other End-User Industries

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The Oxygen Global Market Report 2024 provides an overview of the oxygenmarket 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 and their market positions.

The Table Of Content For The Oxygen Market Include

1. Oxygen Market Executive Summary
2. Oxygen Market Segments
3. Oxygen Market Size And Template Market Growth Rate
4.  Key Oxygen Market Trends
5. Major Oxygen Market Drivers
……
25. Key Mergers And Acquisitions In The Oxygen Market
26. Top Oxygen Companies
27. Oxygen Market Opportunities And Strategies
28. Oxygen Market, Conclusions And Recommendations
29. Appendix

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