Overview and Scope
The oxygen flow meter measures and regulates the amount of oxygen delivered to patients who are receiving oxygen therapy. It can not only accurately detect the flow of oxygen in real-time, but it can also keep healthcare providers informed about a patient's oxygen absorption status. Oxygen flowmeters are now routinely utilized in hospitals at all levels.
Sizing and Forecast
The oxygen flow meters market size has grown strongly in recent years. It will grow from $1.67 billion in 2023 to $1.82 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to healthcare industry growth, regulatory compliance, aging population, chronic respiratory conditions, respiratory care.
The oxygen flow meters market size is expected to see rapid growth in the next few years. It will grow to $2.69 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to telemedicine, home healthcare, point-of-care testing, pneumonia, non-invasive ventilation. Major trends in the forecast period include technological advancements, portable oxygen solutions, internet of things (iot) and connectivity, portable oxygen solutions, smart healthcare.
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Segmentation & Regional Insights
The oxygen flow meters market covered in this report is segmented –
1) By Type: Double Flange Type, Plug-in Type, Other Types
2) By Calibration Type: Automatic, Manual
3) By Application: Healthcare, Industrial, Aerospace, Chemical, Other Applications
North America was the largest region in the oxygen flow meters market in 2023. The regions covered in the oxygen flow meters market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing number of COVID-19 cases in the world is expected to propel the growth of the oxygen flowmeter market going forward. COVID-19 disease (COVID-19) is an infectious disease caused by the virus called SARS-CoV-2. The majority of those infected with the virus will experience mild to moderate respiratory symptoms and require external oxygen to breathe. For instance, according to the Worldometer, a US-based reference website that provides live world statistics, the total new COVID-19 cases found on 25th April 2022 is 510 million, has jumped to 511 million on 27th April 2022. Therefore, the increasing number of COVID-19 cases drives the oxygen flowmeter market.
Key Industry Players
Major companies operating in the oxygen flow meters market include D.Z. Medicale S.r.l., Heyer Medical AG, Ohio Medical Corporation, Megasan Medical, Precision Medical Inc., HERSILL SL., Penlon Ltd., BURAK Metering Pvt Ltd, Amcaremed Technology Co. Limited, Dwyer Instruments Ltd., Deluxe Industrial Gases, Sumukha Meditek, Ashish Engineering, Amcaremed Technology Co.Limited, Smiths Medical Inc., Maxtec LLC., Allied Healthcare Products Inc., Becton Dickinson and Company, Bio-Med Devices Inc., Bunnell Incorporated, CareFusion Corporation, Drive DeVilbiss Healthcare Inc., Fisher & Paykel Healthcare, Flexicare Medical Limited, GCE Group, Hamilton Medical AG, Inogen Inc., Invacare Corporation, Medline Industries Inc., O2 Concepts, OxyGo LLC., ResMed Inc., Teijin Limited
The oxygen flow meters market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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The global flow meter market size is estimated to reach USD 12.3 billion by 2027, registering a CAGR of 5.8% over the forecast period, according to a new report by Radiant Insights, Inc.
Based on product, the market has been classified into Differential Pressure (DP), Pressure Displacement (PD), magnetic, ultrasonic, Coriolis, turbine, vortex, and others (variable area, multiphase, thermal, and others).
However, the ultrasonic and Coriolis segments are expected to grow at the highest rate over the forecast period owing to the advancements in technology that have made ultrasonic and Coriolis flow meters more reliable and accurate than their counterparts.
With emerging economies in Asia Pacific such as China, India, and other Southeast Asian nations witnessing rapid industrialization, regional manufacturers and providers of flow rate measurement solutions are forming collaborations and partnerships with global players to cash in on opportunities prevailing in the regional as well as global markets.
Regional players are also improving their customer engagement activities and enhancing their portfolio of products and services.
With the lucrative opportunities the oil and gas, petroleum, chemicals, and water and wastewater management sectors offer, manufacturers focus on meeting the various requirements of these sectors in particular.
