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How has the liquid oxygen devices market size evolved in recent years?

The market for liquid oxygen devices has seen significant growth in the past years. The market, which was valued at $6.06 billion in 2024, is projected to increase to $6.52 billion in 2025, experiencing a compound annual growth rate (CAGR) of 7.5%. Factors such as the increasing occurrence of respiratory diseases, growing older population, expanded global healthcare expenditure, the transition to home-based healthcare, supportive governmental policies and initiatives, and a rise in awareness and education, have all contributed to the growth in the historic period.

What are the predictions for the liquid oxygen devices market size in the coming years?

Anticipating robust expansion in the coming years, the liquid oxygen devices market is projected to rise to $8.61 billion by 2029, with a compound annual growth rate (CAGR) of 7.2%. This expected growth within the next few years can be linked to an increasing inclination towards compact oxygen concentrators rather than conventional oxygen tanks, a burgeoning healthcare infrastructure, more extensive usage in non-medical domains, a mounting focus on healthcare at home and telemedicine, and a rising concern for environmental preservation. The apparent trends during the forecast period includes the downsizing and enhanced portability of liquid oxygen devices to improve mobility and user convenience, the incorporation of Internet of Things (IoT) technology and digital health platforms, the evolution of progressive battery technology, the launch of intelligent oxygen delivery systems, and the creation of made-to-order liquid oxygen devices.

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What key factors are fueling the growth of the liquid oxygen devices market?

The multiplied occurrence of breathing disorders is foreseen to stimulate the rise of the liquid oxygen device market. Respiratory ailments indicate various health issues concerning the respiratory system, including the lungs, airways, and other parts participating in respiration. The escalating count of respiratory maladies can be attributed to reasons like air contamination, exposure to tobacco smoke, job-related risks, genetic inclination and lifestyle decisions. Liquid oxygen devices render crucial respiratory assistance to people dealing with respiratory disorders, thus enhancing respiration and upgrading the quality of life. It simultaneously provides a trustworthy medium to healthcare providers to supply oxygen therapy and keep a track of patient’s respiratory wellness. For instance, the centers for disease control and prevention in November 2023 suggested that in the previous year, the United States documented 8,331 tuberculosis cases, which portrays an incidence rate of 2.5 for every 100,000 people, indicating a 5.9% boost in the case count and a 5.5% acceleration in the incidence rate in comparison to the previous year. As such, the mounting incidence of respiratory disorders is contributing to the expansion of the liquid oxygen device market. For the Liquid Oxygen Devices Market driver, government-led health care studies and expansion projects would act as a catalyst for liquid oxygen devices. The rising government efforts towards healthcare research and development work is anticipated to seize the progress of the growth of the liquid oxygen apparatus market. Governmental measures suggest detailed activities, plans, policies or campaigns taken up by government authorities on different platforms (local, regional, national or global) to deal with particular problems, reach certain objectives or effectuate optimistic transitions in society. A few government bodies are introducing various health initiatives to nurture different facets including liquid oxygen devices. For instance, as per the Department of Health and Social Care in 2022, the UK government proposed £260 million funding, equivalent to US $270.65 million, in order to augment healthcare investigation and manufacturing. This was approved by BEIS and DHSC to sponsor NHS-grounded health research into diagnostics and treatment via advanced privacy-preserving platforms and clinical research services, and £60 million (US $63.60 million) to facilitate amplification of life sciences manufacturing in the UK. As such, such government initiatives contribute to stimulating the liquid oxygen device market.

How is the global liquid oxygen devices market divided into key segments?

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 key firms paving the way for growth 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 key trends shaping the future of the liquid oxygen devices market?

Key players in the liquid oxygen devices market are concentrating on creating enhanced solutions, such as integrating unique cooling systems to maintain optimum functionality and reliability of the equipment over a longer period. The twin-blower cooling system used in these devices involves a process where air is pressurized, chilled, and then separated into oxygen and nitrogen. For instance, OxyGo HQ Florida LLC, an American portable oxygen concentrator producer, introduced the OxyHome 5L Stationary Concentrator in April 2023. The latest device is designed to deliver a steady stream of oxygen up to 5 liters per minute, suitable for residential use. It boasts a contemporary design and small size, making it a perfect fit for any home setting. The central aspect underlined is its twin-blower cooling system, guaranteeing the best possible and dependable performance over an extended period.

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What regions are contributing significantly to the growth of the liquid oxygen devices market?

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.

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