According to the Market Statsville Group (MSG), the global oxygen generator market size is expected to grow from USD 1,375.06 million in 2022 to USD 2,208.14 million by 2033, growing at a CAGR of 4.4% from 2023 to 2033. Modern healthcare services are crucial for human health because they play a major part in molding the economy of a nation and, ultimately, the world. Oxygen is essential to human existence and is employed in a variety of other purposes. Many individuals are being inconvenienced by the tremendous population expansion and lack of health care in developing countries. As a result, the local government, in collaboration with foreign organizations, is trying to improve health services by constructing new hospitals and renovating current health care facilities. Oxygen generators are commonly used in hospitals and clinics for oxygen treatment to not only boost oxygen levels in the patient's blood but also to reduce resistance to blood flow, so reducing the stress on the heart. Moreover, oxygen is employed in waste and water treatment, gas welding, chemical and pharmaceutical plants, and a variety of manufacturing units. Massive population increase, growing healthcare spending, and the development of manufacturing units are expected to fuel the rise of the oxygen generator.
An oxygen generator is a device that separates oxygen from compressed air via pressure swing adsorption, a type of selective adsorptive technique (PSA). The compressed air utilized in the oxygen production process is identical to ambient environmental air in composition, having 21% oxygen and 78% nitrogen. The compressed air's oxygen is permitted to pass through a zeolite molecular filter, which retains nitrogen, resulting in high quality oxygen at gas production outlets.
A PSA oxygen generator uses the same pressure swing adsorption process as a nitrogen generator with one major difference. Instead of the carbon present in a nitrogen PSA device, the adsorptive material inside its molecular sieve is constructed of zeolite.
The healthcare sector, including industrial and home-based facilities are demanding these oxygen generators to treat various COVID-19 and various other diseases, including heart related diseases and more, thus anticipated to observe an increased demand in the forthcoming years. Further, increasing geriatric population across the globe, increasing government and corporate investments in healthcare projects and infrastructure development, boosts the market growth.
In the current context, many emerging corporations are establishing new operations or expanding existing ones in emerging markets. In light of this, healthcare spending in emerging economies is fast increasing. For instant, the World Economic Forum estimates that by 2020, developing nations would pay for about one-third of global healthcare spending. Also, more than half of the global population now resides in India and China, owing to which these countries become home to a large patient pool. As a result, many emerging companies are investing a substantial amount of funds in these emerging markets.
Oxygen generators take oxygen from the air and distribute it directly into industrial processes or store it in pressure tanks in real time. Oxygen generators are used in a range of sectors, including gold mining, healthcare, wastewater treatment plants, aquaculture, aerospace, steel industry, welding, glass blowing, paper and pulp production, and others, which will drive the global need for oxygen generators.
For instance, Oxygen generators are deployed in wastewater treatment plants to supply sufficient oxygen to the bacteria enabling the bio-degradation process to take place. During the process, if extra oxygen is provided, the bacteria break down the sludge faster into CO2 and water. The demand for the treatment of wastewater is rising globally and many countries actively installing treatment plants to treat the water and to reduce water scarcity and related issues, which as a result, drive the growth of the oxygen generators market during the forecasting period.
An oxygen generator is a device that separates oxygen from compressed air via pressure swing adsorption, a sort of selective adsorptive method (PSA). The high cost of oxygen generator and other development associated to it impede the market growth. With the requirement of medical oxygen owing to rise in Covid-19 cases across the world, the demand has been increased for oxygen generator which results in high supply prices as well as high manufacturing costs. The high purity oxygen, automatic operation, high quality parts for less maintenance and guaranteed performance and lower energy and air consumption will enhance the price which led to restrict the market growth.
Although oxygen therapy is not a novel treatment, the technology behind it is continually improving. While oxygen tanks were once the sole viable choice for oxygen therapy, there are now both stationary and portable devices that can transform ordinary air into produced oxygen. Similar principles govern the operation of These oxygen generators. They inhale air from the environment, separate oxygen from other gases, and provide the oxygen to the patient via a breathing tube.
Portable oxygen generators give respiratory patients who don't need significant dosages of oxygen more flexibility. They may be charged via a wall outlet, a car adaptor, or a battery pack and run on a number of power sources. Portable oxygen generators are tiny enough to fit under one arm, in a backpack, or attached to a cart or walker, allowing the patient to move around freely at home or on the road. Whereas Stationary oxygen generators are generally larger and heavier than the portable oxygen generators, but they can also offer higher flow rates.
The study categorizes the oxygen generator market based on type, form, technology and application area at the regional and global levels.
Based on the form, the market is divided into portable oxygen generators and stationary oxygen generators. The stationary oxygen generators segment is expected to dominate the market share in 2022 in the global oxygen generator market. A stationary oxygen generator is projected to account for substantial market share owing to the growing healthcare sector. Several technologies, such as cryogenic separation, pressure swing adsorption, and membrane technology, can be used to create oxygen. Because of its high oxygen generation capability, pressure swing adsorption is a commonly employed technique. Stationary oxygen concentrators have higher oxygen output and lower prices. Portable oxygen concentrators offer smaller sizes and less weight and greater flexibility with power sources.
Based on the regions, the global oxygen generator market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. The construction of new hospitals, health care facilities, and wastewater treatment plants in North America has resulted in significant expansion for oxygen generators. Oxygen is widely utilized in medicines, brazing, gas welding, and jeweler manufacture, and the need for oxygen generator systems in North America is predicted to increase. European nations are spending heavily in healthcare services in order to give more accessible and better access to hospitals and clinics. The ageing population in most European countries has exacerbated the health problems of older individuals. As a result, many residential or private hospitals or clinics are building an oxygen generator system, which might provide the industry with multifold development.
The oxygen generator market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
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