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Modern healthcare services are important for human health as it plays a critical role in shaping the economics of a nation and subsequently, the world. Oxygen is the lifeline of human being's lives, and it is also used in several other applications. The massive population growth and lack of health services in emerging countries are causing a nuisance to many peoples. Therefore, the local government, in association with international organizations working on improving health services by building new hospitals and refurbishment of existing health care centers. Oxygen generators are widely used in hospitals and clinics for oxygen therapy to increase oxygen levels in the patient’s blood but also decrease resistance to blood flow easing the workload on the heart. Moreover, oxygen is also used in waste and water treatment, gas welding, chemicals, and pharmaceuticals plant as well as several manufacturing units. Tremendous population growth, rising investment in the healthcare sector, and expansion of manufacturing units are projected to fuel the growth of the oxygen generator.
The oxygen generator market is classified into portability, technology, and application. Portability is further divided into stationary and portable. A stationary oxygen generator is projected to account for substantial market share owing to the growing healthcare sector. Oxygen can be produced by using different technologies such as cryogenic separation, pressure swing adsorption, and membrane technology. Pressure swing adsorption is a widely used technology due to its high oxygen production capacity. Cryogenic separation is one of the oldest methods to produce high purity oxygen at high volumes. Oxygen is used in several applications, which mainly include hospitals & clinics, waste & water treatment, manufacturing units, pharmaceuticals, chemicals, and others.
Many countries across the world are focussing on providing world-class healthcare services to mitigate the different health problems. For instance, extensive population growth has massively increased the demand for healthcare services across the world. Furthermore, the expansion of wastewater treatment plants, manufacturing units, and several other entities is projected to boost the oxygen generator market.
The government issued guidelines for production and handling of an oxygen generator, and manufacturers must follow the rules and regulations to avoid strict action and hefty fines, which limit the growth of the industry size.
Key Market Driver -
Tremedous investment in healthcare services
Key Market Restraint -
Severe government rule for the production and handling of oxygen generator
The major oxygen generator companies in the world are Air Products, AirSep Corporation, Oxymat A/S, Oxair Gas Systems Pty Ltd, Atlas Copco, Delta P S.r.l., Oxygen Generating Systems Intl. (OGSI), INMATEC GaseTechnologie GmbH & Co. KG, Omega Air, and Essex Industries.
The oxygen generator market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America exhibits considerable growth for oxygen generators owing to setting up new hospitals, health care centers, and wastewater treatment plants. Oxygen is widely used in pharmaceuticals, brazing, gas welding, and jewelry manufacturing, which expected to leverage the oxygen generator system demand in North America. European countries are majorly investing in healthcare services to provide convenient and better access to hospitals and clinics. The aging population in most of the European countries increased the health complications of senior citizens. Therefore, many residential or private hospitals or clinics installing an oxygen generator system that might offer multifold growth to the market.
Exponential population growth and rising concern overall health problems are crumbling the healthcare sector in emerging economies. The government and private entities extensively investing in healthcare services to offer world-class health services at an economical cost. Simultaneously, the tremendous investment in manufacturing and commercial sectors is projected to drive the market. The World Health Organization is working on several projects in African countries to provide healthcare services to deprived communities. Also, the local government is supporting the cause of the betterment of the community. Hence, the growing concern over health issues and consistent investment in hospitals and health services are estimated to drive the industry demand.
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