Liquid Oxygen Devices Market To Reach $7.0 Billion By 2030

Liquid Oxygen Devices Market Growth & Trends

The global liquid oxygen devices market size is expected to reach USD 7.0 billion by 2030, registering a CAGR of 4.1% from 2023 to 2030, according to a new study by Grand View Research, Inc. Liquid oxygen devices are medical devices that deliver therapeutic oxygen in its liquid form. Liquid oxygen systems are commonly used by individuals with respiratory conditions that require a high flow of oxygen. These devices are especially useful for patients who need a higher concentration of oxygen than what can be provided by traditional oxygen concentrators or compressed gas cylinders. The increasing prevalence of respiratory conditions such as chronic obstructive pulmonary disease (COPD), asthma, and others that require oxygen therapy is driving the market growth.

In addition, liquid oxygen devices are valuable during emergencies, as they can quickly deliver high concentrations of oxygen to patients in critical conditions. This is especially important in situations such as acute respiratory distress or exacerbation of respiratory diseases. With a growing emphasis on home-based healthcare, there is a greater demand for medical devices that allow patients to receive necessary treatments in the comfort of their own homes. Liquid oxygen devices support this trend by providing effective oxygen therapy outside of hospital settings, thereby impelling the growth of the market for liquid oxygen devices.

Technological advancements have led to the development of smaller and more portable liquid oxygen devices. These devices are easier for patients to carry and use, allowing them greater freedom and mobility while receiving oxygen therapy. Also, some modern liquid oxygen devices are equipped with sensors that monitor oxygen levels and flow rates. This real-time monitoring helps patients and healthcare providers ensure that the therapy is being delivered effectively and adjust settings as needed. This is expected to drive the market growth over a forecast period.

Furthermore, the COVID-19 pandemic accelerated the demand for liquid oxygen devicesdue to the severe respiratory symptoms experienced by some COVID-19 patients.Many COVID-19 patients required hospitalization, and some of them needed high-flow oxygen therapy or mechanical ventilation. This increased the demand for oxygen delivery systems capable of providing high oxygen flow rates.To address the increased demand, medical device manufacturers and oxygen suppliers worked to scale up the production of oxygen-related equipment, including liquid oxygen devices, to meet the needs of healthcare facilities and patients, thereby positively impacting the market growth.

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Liquid Oxygen Devices Market Report Highlights

• Based on end-use, the homecare segment held the largest revenue share of 46.01% in 2022.The demand for liquid oxygen devices in homecare settings has been driven by the desire to provide effective oxygen therapy to patients with respiratory conditions while allowing them to maintain their quality of life and independence

• The outpatient facilities segment is expected to grow at the fastest CAGR over a forecast period.Liquid oxygen devices play a crucial role in delivering oxygen therapy to patients with conditions such as COPD, asthma, and interstitial lung diseases

• North America accounted for the largest market share of more than 44.5% in 2022 owing to an increasingly aging population, rising prevalence of chronic conditions, stringent regulatory framework, and the growing trend toward home-based healthcare

Liquid Oxygen Devices Market Segmentation

Grand View Research has segmented the global liquid oxygen devices market based on end-use and region:

Liquid Oxygen Devices End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Hospitals

• Outpatient Facilities

• Home Care

Liquid Oxygen Devices Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • Italy

  • Spain

  • France

  • Sweden

  • Denmark

  • Norway

• Asia Pacific

  • China

  • India

  • Japan

  • Thailand

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

  • Argentina

• MEA

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Liquid Oxygen Devices Market

• CAIRE

• CRYOFAB

• Philips

• Airliquide

• Inogen