Increasing prevalence of
chronic diseases is driving the growth if India Medical Oxygen Market,
FY2017-FY2027.
According
to TechSci report on, “India Medical Oxygen Market By
Product Type (Oxygen Cylinder v/s Oxygen Cans) By Modality (Stationary v/s
Mobile) By Application (COPD, Lung Disorders, Cardiac Disorders, COVID-19,
Others) By End User (Hospitals & Clinics, Home Care, Others) By Region,
Competition Forecast & Opportunities, FY2027”, India medical oxygen market
has shown promising growth in historical years until FY2020 and is expected to continue
its growth in upcoming forecast years FY2023 to FY2027. India medical oxygen
market owes its growth to the factors like growing need for medical oxygen for
the treatment of the patients suffering from the chronic diseases, respiratory
diseases, cardiovascular diseases etc. Also, rising pollution in the country is
causing population to develop and suffer from various breathing disorders. The
poor quality of the air is causing all sorts of lung problem in the country’s
population. Moreover, application of oxygen in the healthcare industry,
increase demand for portable oxygen for homecare, and the increasing instances
of COVID-19 is driving the growth of the India medical oxygen market, in the
upcoming five years.
Medical oxygen is the
compressed form of liquid oxygen that is concentrated by compressing,
filtering, and purification processes. The liquid oxygen maintained at -182
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India medical oxygen market segmentations is based on product type, modality, application,
end user, competitional landscape, and regional distribution. Based on
modality, the market is further bifurcated into stationary and mobile system.
Stationary systems are expected to hold the largest share of the market owing
to the increasing number of the patients in the hospitals and surge in the
demand of the excellent healthcare facility. Although mobile models are
expected to hold the fastest growth due to the rapidly rising cases of COVID-19
patients in the country.
Based on application, the market is further sub-segmented
into COPD, Lung Disorders, Cardiac Disorders, COVID-19, Others. COVID-19 cases
are multiplying at a rampant rate and the number of patients are doubling in
the current year, FY2022 and thereby supporting the exponential growth of the
India medical oxygen market.
Some of the top players in
the India Medical Oxygen Market are, Philips India Limited, Wipro GE Healthcare
Pvt. Ltd., Siemens Healthineers India, Canon India Pvt. Ltd., Shimadzu Medical
(India) Pvt. Ltd., Trivitron Healthcare Pvt. Ltd., India Medtronic Pvt Ltd,
Hitachi India Pvt. Ltd., Sanrad Medical Systems Private Limited, Accuray
Medical Equipment India Pvt. Ltd, among others. The companies are involving
themselves into research and development for more advanced medical devices.
Medical oxygen are in demand owing to the sudden surge in the need of the
healthcare industry. New players entering the market may form partnerships with
other players or the end users of the industry for a consistent inflow of the
product.
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“Medical
Oxygen are one of the most important treatment procedures that are widely used
across for treating various chronic diseases like cardiovascular diseases,
respiratory diseases, pulmonary disorders, etc. that are prevalent in the
country. Market players are constantly researching and developing the
technologically advanced methods to provide more efficient, ways of storing,
and supplying the medical oxygen that gives efficient methods of oxygen support
to the patients that are struggling of the target and chronic diseases.
Government support toward the research and development is also one of the major
drivers of the market. New players can focus on the investments and on the
market launches of the technologically advanced products,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm. “India Medical
Oxygen Market By Product Type (Oxygen Cylinder v/s Oxygen Cans) By Modality
(Stationary v/s Mobile) By Application (COPD, Lung Disorders, Cardiac
Disorders, COVID-19, Others) By End User (Hospitals & Clinics, Home Care,
Others) By Region, Competition Forecast & Opportunities, FY2027” has evaluated the future
growth potential of India Medical Oxygen market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Medical Oxygen market.
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