MEDICAL OXYGEN SYSTEMS MARKET ANALYSIS

Market Challenges And Opportunities

Increasing product launches for medical oxygen system for homecare settings and hospitals is expected to drive growth of the global medical oxygen system market

Most of the hospitals and healthcare organizations install centralized oxygen systems in hospitals, in order to ensure the large amount of supply to the patients. Homecare setting segment is also contributing majorly to growth of the market, owing to launch of portable oxygen systems in the market. For instance, in January 2016, GCE Healthcare launched Zen-O portable oxygen concentrator (POC). It is lightweight oxygen therapy device that weighs 4.66kg (10lbs) and easy to carry around. Moreover, in October 2017, Invacare Corporation launched the Invacare Platinum Mobile Oxygen Concentrator with new connectivity. The Platinum Mobile Oxygen Concentrator was combined with the Piccolo O? App to improve convenience during routine use.

Moreover, increasing approvals from the regulatory authorities for oxygen therapies is expected to increase the demand for medical oxygen systems, which may provide major opportunity for the market growth. For instance, in April 2019, TherOx received the U.S. FDA approval for its supersaturated oxygen therapy. The new approach is intended for the treatment of damaged heart tissue with hyperbaric levels of oxygen during a single catheter-delivered infusion, consistently and safely reducing infarct size.