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What is the Growth Potential of the Liquid Oxygen Devices Market, and How Will It Perform by 2034?

Over the past few years, the market size for liquid oxygen devices has seen substantial growth. The market’s growth is projected to rise from $6.06 billion in 2024 to $6.52 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. This expansion in the previous period can be traced back to the increase in respiratory disorders, the aging population growth, the global rise in healthcare expenditure, the transition towards home-based care, supportive governmental initiatives and regulatory policies, as well as heightened awareness and education.

The market for liquid oxygen devices is anticipated to witness robust expansion in the coming years. It is projected to escalate to $8.61 billion by 2029, with a compound annual growth rate (CAGR) of 7.2%. Several factors drive this growth in the predicted period, including a growing inclination for portable oxygen concentrators over conventional oxygen tanks, enhanced healthcare infrastructure, wider applications in non-medical settings, increasing focus on home healthcare and telemedicine, as well as rising awareness of environmental sustainability. Key trends for the forecast period encompass the miniaturization and portability of liquid oxygen devices to improve mobility and user-friendliness, incorporation of Internet of Things (IoT) technology and digital health platforms, advancements in battery technology, the advent of intelligent oxygen delivery systems, and the evolution of customizable liquid oxygen devices.

What Strategic Factors Are Influencing the Accelerated Growth of the Liquid Oxygen Devices Market?

The liquid oxygen device market is anticipated to grow owing to the escalating prevalence of respiratory ailments. Respiratory disorders are encompassing a variety of health issues that affect the respiratory system such as the lungs, airways, and other components crucial to breathing. A surge in respiratory conditions can be attributed to factors like air contamination, prolonged exposure to tobacco smoke, occupational perils, genetic factors, and lifestyle decisions. Liquid oxygen devices play an integral role in offering vital respiratory assistance to patients with breathing problems, thus enhancing their quality of life, whilst giving healthcare professionals a dependable resource for providing oxygen therapy and supervising patients’ respiratory wellbeing. For example, in November 2023, the Centers for Disease Control and Prevention, a governmental agency from the US, reported that there were 8,331 TB cases in the US for the year 2022, having an incidence rate of 2.5 for every 100,000 people. This shows an increase of 5.9% in TB cases and a 5.5% upswing in the incidence rate in comparison to 2021. Consequently, the rising prevalence of respiratory disorders is fuelling the growth of the liquid oxygen device market. Liquid Oxygen Devices Market Driver: Enhancement of Liquid Oxygen Devices Resulting from Government-Pulled Healthcare Research and Development Initiatives

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Who Are the Major Companies Shaping the Competitive Landscape of the Liquid Oxygen Devices Market?

Major companies operating in the liquid oxygen devices market are:

• Air Liquide S.A._x000D_

• Linde plc_x000D_

• Teijin Limited_x000D_

• NTK Oxygen Electronics Co. Ltd._x000D_

• Chart Industries Inc._x000D_

What Are the Key Emerging Trends in the Liquid Oxygen Devices Market for the Next Decade?

Top companies in the liquid oxygen devices market are concentrating on crafting advanced solutions, such as innovative cooling designs to maintain the device at optimum functionality and reliability over a long period. The innovative cooling design for liquid oxygen devices employs a technique where air is pressurized, cooled, and divided into oxygen and nitrogen. For instance, in April 2023, OxyGo HQ Florida LLC, an American portable oxygen concentrators producer, introduced the OxyHome 5L Stationary Concentrator. This latest appliance is engineered to supply a steady stream of oxygen up to 5 liters per minute for usage at home. The design is contemporary with a compact size to accommodate comfortably within any domestic set up. The unit showcases a twin-blower cooling system, ensuring peak and trustworthy performance over time.

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How Are the Key Segments of the Liquid Oxygen Devices Market Driving Opportunities and Innovations?

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

Which Regions Are Making a Mark in the Liquid Oxygen Devices Market Growth?

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 Definition of the Liquid Oxygen Devices Market Include?

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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