Key companies are focused on inorganic strategies including partnerships, collaborations, and mergers and acquisitions, which in turn, is expected to boost the global medical oxygen system market growth over the forecast period. For instance, in January 2016, ResMed Inc. acquired the U.S.-based Inova Labs Inc., a privately-held medical device company specializing in the development and commercialization of innovative oxygen therapy products. Furthermore, In February 2017, Heyer Medical AG entered into strategic collaboration with a China-based company Shanghai Tian Ying Medical Instrument Co., Ltd. According to the agreement, Shanghai Tian Ying Medical Instrument Co., Ltd. will be the exclusive distributor of Heyer Medical’s products in China. Moreover, launch of innovative technologies is supporting the global medical oxygen systems market growth. For instance, in February 2019, OxyGo LLC, a provider of portable oxygen concentrator, launched new Bluetooth-enabled portable oxygen concentrator (POC), OxyGo FIT Connect. The new platform will allow healthcare providers to improve patient outcomes through a wireless connectivity platform using Bluetooth technology.
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Key market players are laying emphasis on providing high-quality medical oxygen systems. For instance, BOC Healthcare, a manufacturer and provider of medical oxygen, provides medical care in a wide range of clinical settings, from anesthesia and intensive care to obstetrics and emergency medicine. BOC healthcare offers compressed medical oxygen cylinders. Specification of cylinder complies with the current European Pharmacopoeia monograph.
However, product recalls from regulatory authorities is expected to hamper growth of the market. For instance, in October 2017, the U.S. Food and Drug Administration (FDA) issued a class II product recall notice for Pure Oxygen Concentrator, CHAD Drive, Models CH5000, and CH5000S, manufactured by Inovo, Inc., as an aggregate complaint/service rate was found to be greater than 35% for low oxygen purity (output oxygen below the published specification), during post-market surveillance for the product.
The global medical oxygen systems market is expected to expand at 7.4% CAGR during the forecast period (2018-2026). This is owing to proactive initiatives by key companies to launch novel technologies for patient identification.
Increasing acquisitions by key players for expanding medical oxygen system is expected to drive the global medical oxygen system market growth. For instance, in October 2018, NGK Spark Plug Co., a company based in Japan, acquired oxygen-related products business of Chart Industries, Inc.
Major players operating in the global medical oxygen system market include Koninklijke Philips N.V, Inogen, Inc., BOC Healthcare, Precision Medical, Inc., Luxfer Group, Cryofab, Inc., Responsive Respiratory, Inc., Atlas Copco, GCE group, and High Vacuum Maintenance (HVM) S.R.L.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Medical Oxygen System Market Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Medical Oxygen System Market Industry Impact
Chapter 2 Global Medical Oxygen System Market Competition by Types, Applications, and Top Regions and Countries
2.1 Global Medical Oxygen System Market (Volume and Value) by Type
2.3 Global Medical Oxygen System Market (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Medical Oxygen System Market Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Medical Oxygen System Market Market Analysis
Chapter 6 East Asia Medical Oxygen System Market Market Analysis
Chapter 7 Europe Medical Oxygen System Market Market Analysis
Chapter 8 South Asia Medical Oxygen System Market Market Analysis
Chapter 9 Southeast Asia Medical Oxygen System Market Market Analysis
Chapter 10 Middle East Medical Oxygen System Market Market Analysis
Chapter 11 Africa Medical Oxygen System Market Market Analysis
Chapter 12 Oceania Medical Oxygen System Market Market Analysis
Chapter 13 South America Medical Oxygen System Market Market Analysis
Chapter 14 Company Profiles and Key Figures in Medical Oxygen System Market Business
Chapter 15 Global Medical Oxygen System Market Market Forecast (2021-2027)
Chapter 16 Conclusions
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