Global Oxygen Market: Overview

Oxygen is a reactive oxidizing agent that forms oxides with numerous compounds. Pure oxygen can be commercially produced using a vacuum swing adsorption process or electrolysis. The finds numerous applications in the healthcare which has been further elucidated in the upcoming report. The global oxygen market is perceived to grow exponentially during the forecast period owing to emerging healthcare industry.

Global Oxygen Market: Notable Developments

Below is a notable development that may aid the global oxygen market’s growth:

The Inogen One G4 portable concentrator launched by Inogen provides oxygen delivery in an incredibly small package. It offers three different oxygen flow settings and can be charged at home or on the go. Moreover, it uses Inogen’s Intelligent Delivery technology which facilitates rapid detection of breath. Additionally, it ensures quick delivery of oxygen within the first 400 milliseconds. The discovery of portable concentrator is a major breakthrough in the global oxygen market leading to an expansion of the growth prospects. 

Prominent players in the global oxygen market comprise Praxair Technology Inc., Praxair Technology Inc., Yingde Gases, Guangdong Haute Gas Co. Ltd., and Taiyo Nippon Sanso.

Global Oxygen Market: Key Growth Dynamics

There has been a tremendous rise in the level of pollution owing to the growing use of vehicles and industrialization. This has led to a surge in need and production of breathing aids, thereby propelling the market’s growth. Additionally, there has been a spur in the demand for oxygen worldwide owing to the growth of industries such as automobiles, agriculture, construction, food and beverages, and medicine. This has served as a major propellant in the oxygen market’s growth.

Moreover, diversified applications of oxygen as a catalyst and oxidizing agent in the chemical industry has helped the market gain a strong foothold. Another factor that has scaled up the global oxygen market’s growth is the use of oxygen in mineral processing and mining. Oxygen enhances the overall efficiency of these processes, thereby reducing the production cost. Further, advancements in oxygen therapies and flow regulating devices have steered the industry’s growth.

In addition to the aforementioned drivers, use of oxygen in water treatment plants to remove the pollutants from water has opened new growth opportunities for the oxygen market. Furthermore, rising applications of oxygen in the cosmetic and beauty industry for hyperbaric treatments and oxygen facials has stimulated the industry’s expansion. Additionally, a growing geriatric population has led to an increase in the need for mobility support. This has surged the demand for portable oxygen concentrators, thus expediting the oxygen market’s growth.

On the downside, there are a few bottlenecks that may cause a shortfall in the global oxygen market. Factors such as lack of awareness regarding oxygen therapies and high initial investment may restrain the market’s growth. Moreover, the safety issues associated with oxygen handling leading to severe injuries may act as hindrances in the market. Nonetheless, recent advancements in the healthcare and medicine industry along with the new technological developments will offset the effects of the restraints, thereby ushering the market’s growth.

Global Oxygen Market: Regional Outlook 

Asia Pacific accounts for the largest share in the global oxygen market owing to a booming healthcare industry. An emerging manufacturing sector has also contributed to the market’s growth in this region. Japan, China, and India are the major contributors to the market’s expansion in Asia Pacific. Europe and North America are anticipated to witness a steady growth during the forecast period owing to increasing adoption of oxygen in scientific processes.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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