How large is the liquid oxygen devices market, and what is its growth trajectory?
The liquid oxygen devices market size has grown strongly in recent years. It will grow from $6.06 billion in 2024 to $6.52 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to the rising incidence of respiratory disorders, the growing aging population, increasing healthcare spending globally, the shift towards home-based care, favorable government initiatives and regulatory policies, and growing awareness and education.
The liquid oxygen devices market size is expected to see strong growth in the next few years. It will grow to $8.61 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to the increasing preference for portable oxygen concentrators over traditional oxygen tanks, increasing healthcare infrastructure, expanding applications in non-medical settings, growing emphasis on home-based care and telemedicine, and increasing awareness of environmental sustainability. Major trends in the forecast period include miniaturization and portability of liquid oxygen devices to enhance mobility and convenience for users, integration of Internet of Things (IoT) technology and digital health platform, development of advanced battery technology, introduction of smart oxygen delivery systems, and development of customizable liquid oxygen devices.
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What key drivers have fueled the liquid oxygen devices market’s development over the years?
The increasing incidence of respiratory disorders is expected to propel the growth of the liquid oxygen device market going forward. Respiratory disorders refer to a range of medical conditions affecting the respiratory system, which includes the lungs, airways, and other structures involved in breathing. The increasing number of respiratory disorders are caused by air pollution, tobacco smoke exposure, occupational hazards, genetic predisposition, and lifestyle choices. Liquid oxygen devices provide crucial respiratory support for individuals with respiratory disorders, facilitating easier breathing and improving quality of life, while also offering healthcare providers a reliable means to administer oxygen therapy and monitor patients’ respiratory health. For instance, in November 2023, according to the Centers for Disease Control and Prevention, a US-based government agency, in 2022, the United States recorded 8,331 tuberculosis (TB) cases, with an incidence rate of 2.5 per 100,000 people. This marks a 5.9% rise in the number of cases and a 5.5% increase in the incidence rate compared to 2021. Therefore, an increasing incidence of respiratory disorders is driving the liquid oxygen device market.
What is the segmentation for the liquid oxygen devices market?
The liquid oxygen devices market covered in this report is segmented –
1) By Tank Type: Vertical Storage Tanks, Horizontal Storage Tanks
2) By Distribution Channel: Direct Sales, Indirect Sales
3) By End-User: Hospitals, Outpatient Facilities, Home Care, Other End-Users
Subsegments:
1) By Vertical Storage Tanks: Cryogenic Vertical Tanks, Ambient Temperature Vertical Tanks
2) By Horizontal Storage Tanks: Cryogenic Horizontal Tanks, Ambient Temperature Horizontal Tanks
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Who are the most influential companies in the liquid oxygen devices market?
Major companies operating in the liquid oxygen devices market are Air Liquide S.A., Linde plc, Teijin Limited, NTK Oxygen Electronics Co. Ltd., Chart Industries Inc., Invacare Corporation, Cryoquip LLC, ErgoMed Inc., CAIRE Inc., Taylor-Wharton International LLC, DeVilbiss Healthcare, VRV S.p.A., Eleet Cryogenics Inc., FIBA Technologies Inc., Inova Labs, OxyGo LLC, Cryofab Inc., O2 CONCEPTS LLC, PCI Gases, HVM Medical Inc., Oxygen Plus Inc., Oxygen Solutions Inc., Besco Medical Co. Ltd., Nidek Medical, INOXCVA
What are the top industry trends projected to impact the liquid oxygen devices market?
Major companies operating in the liquid oxygen devices market are focusing on developing advanced solutions, such as incorporating innovative cooling designs to keep the device cool during operation, ensuring optimal performance and reliability over time. The twin-blower cooling design for liquid oxygen devices involves a system where air is compressed, cooled, and separated into oxygen and nitrogen. For instance, in April 2023, OxyGo HQ Florida LLC, a US-based manufacturer of portable oxygen concentrators, launched the OxyHome 5L Stationary Concentrator. This new device is designed to provide a continuous flow of oxygen up to 5 liters per minute for home use. It has a modern design and a small footprint to fit comfortably in any home environment. The key feature highlighted is its twin-blower cooling design, ensuring optimal and reliable performance over time.
What are the major regional insights for the liquid oxygen devices market, and which region holds the top position?
North America was the largest region in the liquid oxygen devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the liquid oxygen devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Liquid Oxygen Devices Market Report 2025 Offer?
The liquid oxygen devices market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Liquid oxygen devices refer to medical equipment used for delivering oxygen therapy to patients. Liquid oxygen is a highly concentrated form of oxygen that is stored at very low temperatures (-183°C or -297°F) and is commonly used in medical settings due to its high purity and efficiency in delivering oxygen to patients with respiratory conditions.
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