The Oxygen Flow Meters Market Size was valued at USD 1.07 billion in 2023 and is expected to reach USD 1.70 billion by 2031, and grow at a CAGR of 6% over the forecast period 2024-2031.
The Oxygen flow meters market is expected to grow significantly in the coming years, driven by the increasing need for accurate oxygen flow measurement in healthcare settings around the world. These devices play a crucial role in ensuring patients receive the correct amount of oxygen, and can also detect leaks and blockages in the supply line.
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Traditionally, hospitals have relied on inefficient methods to manage and monitor medical gas consumption. This has led to issues like inaccurate estimations, wasted gas, and difficulty in cost management. O2 flow meters address these problems by providing precise measurements and leak detection capabilities, ultimately helping hospitals reduce operational expenses.
Beyond the healthcare sector, the adoption of O2 flow meters is expected to expand into other industries like aerospace and chemicals. The ability to precisely measure and manage gas flow offers benefits in various applications, leading to a broader market scope for these devices. The oxygen flow meter market witnessed a significant consolidation move in January 2022. ICU Medical Inc., a major US-based medical company, acquired Smiths Medical, another US-based company specializing in oxygen flow meters. This acquisition highlights the growing importance of this segment within the medical device industry. The combined entity aims to leverage its resources to deliver continued innovation, quality, and value to healthcare providers globally.
COVID-19 Pandemic Propels The Demand For Oxygen Flow Meters
The pandemic significantly increased demand for oxygen therapy due to the respiratory complications caused by the virus. This surge in demand for oxygen created a need for accurate measurement and delivery, propelling the use of oxygen flow meters. Companies responded by designing and supplying flow meters to meet this critical need. For instance, Highlighting the ongoing impact of COVID-19, a leading statistical reference website (e.g., Worldometer) reported a rise in new cases between April 25 and 27, 2022. This continued prevalence of COVID-19 serves as a key driver for the growth of the oxygen flow meter market.
Increased Prevalence of Respiratory Conditions
Respiratory illnesses encompass various conditions affecting the user's ability to breathe. Patients suffering from these ailments often require oxygen therapy to improve their quality of life. This rising demand for oxygen therapy highlights the critical role of oxygen flow meters in precisely regulating and monitoring oxygen delivery. For instance, a March 2021 report from the Chilean Ministry of Health provides a specific example. It revealed that respiratory diseases were the leading cause of death in the country, accounting for 47% of influenza and pneumonia cases, 3% of chronic lower respiratory tract disorders, and 3% of interstitial lung diseases.
Booming Healthcare Industry
The global healthcare industry, particularly in developed countries like the US, UK, and Singapore, is experiencing advancements and growth. This includes a rise in medical tourism, where patients travel for specialized care. Oxygen flow meters play a vital role in various critical care situations, making them increasingly essential in modern healthcare facilities. This growth in the healthcare sector translates to a rising demand for flow meters to ensure proper oxygen delivery during treatment.
Technical Glitches and Maintenance Costs
These meters can experience malfunctions that hinder accurate oxygen measurement and delivery. This can lead to safety concerns and hinder the overall market growth. Regular maintenance is necessary for optimal performance, which can add to the operational costs for healthcare facilities, especially those facing budget constraints. This can slow down the wider adoption of flow meters in certain settings.
Oxygen flow meters can play a vital role in maintaining optimal gas levels for food quality and safety
Flow meters can be used to monitor and measure gas emissions in environmental monitoring applications
Flow meters are finding growing utility in industries like chemicals, petrochemicals, and steel production
Flow meters offer a valuable tool for researchers in various fields who work with gases
Plug-in Type
Double Flange Type
Others
Plug-in type is currently dominating the market, holding over 50% of the revenue share in 2023. This type is primarily used in healthcare settings like hospitals and clinics for monitoring and controlling high-pressure oxygen from cylinders. The COVID-19 pandemic further boosted the demand for plug-in meters due to the increased need for oxygen therapy. Double flange type is ideal for industrial applications, particularly in petrochemical and chemical sectors. These meters are valued for their reliability, accuracy, and affordability. Features like leak resistance, precise measurements, and reduced clogging make them well-suited for industrial environments. This segment is expected to gain significant market share by 2031 due to its growing adoption in these industries.
Healthcare
Chemical
Industrial
Aerospace
Others
Healthcare segment held the largest market share over 60% in 2023 and is expected to continue its strong growth. The increasing demand for oxygen therapy in hospitals and clinics fuels this segment. Oxygen therapy utilizes various machines, and flow meters play a vital role in regulating and monitoring the low-pressure oxygen delivered after passing through a pressure regulator. Additionally, the rise of the pharmaceutical and biotechnology sectors in Asia Pacific creates further opportunities for O2 flow meter manufacturers. Regions like the Middle East and Africa, experiencing a surge in COVID-19 cases, are witnessing a rise in demand for medical equipment like ventilators, concentrators, and consequently, flow meters, to address oxygen supply shortages.
Industrial segment held the second-largest share in 2023 and is projected to grow significantly. Rapid industrial development and urbanization in countries like India, China, and Southeast Asia are key factors. Industrial oxygen, used in steel production for infrastructure projects, requires high purity but less stringent sanitary conditions compared to medical applications. The rising demand for high-grade industrial oxygen directly translates to a growing need for O2 flow meters to ensure accurate measurement and control during production processes.
Asia Pacific region held the largest market share over 33% in 2023. The high adoption of flow meters in the healthcare sector, particularly for pharmaceutical and biotechnology applications, is a major driver for growth. The increasing demand for plug-in and clamp-type meters reflects this trend. Additionally, continuous development in steelmaking and other manufacturing sectors in India and China is expected to further propel the market within this region.
North America is the home to numerous established manufacturers and providers of O2 flow meter solutions (e.g., Ohio Medical, Precision Medical), North America holds a significant market share and is expected to maintain its strong position. The presence of these major players contributes to the region's market strength. Furthermore, the ongoing efforts by Compressed Gas Association (CGA) member companies in response to COVID-19, such as increasing production and prioritizing allocation for medical use, highlight the region's commitment to addressing healthcare needs.
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some of the major key players are as follows Ashish Engineering, HERSILL, Burak Metering, DZ Medicale, Ohio Medical, Precision Medical, Inc., Deluxe Industrial Gases, Dwyer Instruments LTD., Shanghai Amcaremed Technology Co., Limited, Sumukha Meditek, Penlon, Megasan Medical, Smiths Medical and other players.
In February 2021, Hersill introduced the OXYLL 70 L/min Oxygen Flow meter, specifically designed for high-flow oxygen therapy. This meter works effectively with humidification equipment, making it a valuable tool for COVID-19 treatment. This introduction highlights the ongoing advancements in the market, with manufacturers like Hersill investing in R&D to develop innovative solutions that address critical healthcare needs.
In August 2021 Precision Medical Products strategically expanded its market presence by acquiring Vena Group and Innovamed Health LLC. This acquisition strengthens their position as they already held VenaPro (single-use mobile compression device) and VenaOne (first portable hospital compression device).
In April 2021 Amcaremed, a medical equipment provider, made a significant move into the Myanmar market. They deployed their largest ever project of 9 medical oxygen generators in the country. This strategic action helps them establish their brand, gain market share, and position themselves for future growth in Myanmar.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 1.07 Billion |
| Market Size by 2031 | US$ 1.70 Billion |
| CAGR | CAGR of 6% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Plug-in Type, Double Flange Type, Others), By Application (Healthcare, Chemical, Industrial, Aerospace, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Ashish Engineering, HERSILL, Burak Metering, DZ Medicale, Ohio Medical, Precision Medical, Inc., Deluxe Industrial Gases, Dwyer Instruments LTD., Shanghai Amcaremed Technology Co., Limited, Sumukha Meditek, Penlon, Megasan Medical, Smiths Medical |
| DRIVERS |
|
| RESTRAINTS |
|
Ans: The Oxygen Flow Meters Market size was valued at US$ 1.07 billion in 2023 and is estimated to reach US$ 1.70 billion by 2031, with a growing healthy CAGR of 6% over the forecast period 2024-2031.
Segments of the Oxygen Flow Meters market are By Type and By Application.
Key drivers of the Oxygen Flow Meters Market are:
COVID-19 Pandemic Propels The Demand For Oxygen Flow Meters
Increased Prevalence of Respiratory Conditions
Booming Healthcare Industry
Plug-in Type, Double Flange Type, and Others are the sub segments of by Type.
Top-down, bottom-up, Quantitative, Qualitative Research, Descriptive, Analytical, Applied, Fundamental Research.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact Of Russia Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Oxygen Flow Meters Market Segmentation, By Type
9.1 Introduction
9.2Trend Analysis
9.3 Plug-in Type
9.4 Double Flange Type
9.5 Others
10. Oxygen Flow Meters Market Segmentation, By Application
10.1 Introduction
10.2 Trend Analysis
10.3 Healthcare
10.4 Chemical
10.5 Industrial
10.6 Aerospace
10.7 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 Trend Analysis
11.2.2 North America Oxygen Flow Meters Market by Country
11.2.3 North America Oxygen Flow Meters Market By Type
11.2.4 North America Oxygen Flow Meters Market By Application
11.2.5 USA
11.2.5.1 USA Oxygen Flow Meters Market By Type
11.2.5.2 USA Oxygen Flow Meters Market By Application
11.2.6 Canada
11.2.6.1 Canada Oxygen Flow Meters Market By Type
11.2.6.2 Canada Oxygen Flow Meters Market By Application
11.2.7 Mexico
11.2.7.1 Mexico Oxygen Flow Meters Market By Type
11.2.7.2 Mexico Oxygen Flow Meters Market By Application
11.3 Europe
11.3.1 Trend Analysis
11.3.2 Eastern Europe
11.3.2.1 Eastern Europe Oxygen Flow Meters Market by Country
11.3.2.2 Eastern Europe Oxygen Flow Meters Market By Type
11.3.2.3 Eastern Europe Oxygen Flow Meters Market By Application
11.3.2.4 Poland
11.3.2.4.1 Poland Oxygen Flow Meters Market By Type
11.3.2.4.2 Poland Oxygen Flow Meters Market By Application
11.3.2.5 Romania
11.3.2.5.1 Romania Oxygen Flow Meters Market By Type
11.3.2.5.2 Romania Oxygen Flow Meters Market By Application
11.3.2.6 Hungary
11.3.2.6.1 Hungary Oxygen Flow Meters Market By Type
11.3.2.6.2 Hungary Oxygen Flow Meters Market By Application
11.3.2.7 Turkey
11.3.2.7.1 Turkey Oxygen Flow Meters Market By Type
11.3.2.7.2 Turkey Oxygen Flow Meters Market By Application
11.3.2.8 Rest of Eastern Europe
11.3.2.8.1 Rest of Eastern Europe Oxygen Flow Meters Market By Type
11.3.2.8.2 Rest of Eastern Europe Oxygen Flow Meters Market By Application
11.3.3 Western Europe
11.3.3.1 Western Europe Oxygen Flow Meters Market by Country
11.3.3.2 Western Europe Oxygen Flow Meters Market By Type
11.3.3.3 Western Europe Oxygen Flow Meters Market By Application
11.3.3.4 Germany
11.3.3.4.1 Germany Oxygen Flow Meters Market By Type
11.3.3.4.2 Germany Oxygen Flow Meters Market By Application
11.3.3.5 France
11.3.3.5.1 France Oxygen Flow Meters Market By Type
11.3.3.5.2 France Oxygen Flow Meters Market By Application
11.3.3.6 UK
11.3.3.6.1 UK Oxygen Flow Meters Market By Type
11.3.3.6.2 UK Oxygen Flow Meters Market By Application
11.3.3.7 Italy
11.3.3.7.1 Italy Oxygen Flow Meters Market By Type
11.3.3.7.2 Italy Oxygen Flow Meters Market By Application
11.3.3.8 Spain
11.3.3.8.1 Spain Oxygen Flow Meters Market By Type
11.3.3.8.2 Spain Oxygen Flow Meters Market By Application
11.3.3.9 Netherlands
11.3.3.9.1 Netherlands Oxygen Flow Meters Market By Type
11.3.3.9.2 Netherlands Oxygen Flow Meters Market By Application
11.3.3.10 Switzerland
11.3.3.10.1 Switzerland Oxygen Flow Meters Market By Type
11.3.3.10.2 Switzerland Oxygen Flow Meters Market By Application
11.3.3.11 Austria
11.3.3.11.1 Austria Oxygen Flow Meters Market By Type
11.3.3.11.2 Austria Oxygen Flow Meters Market By Application
11.3.3.12 Rest of Western Europe
11.3.3.12.1 Rest of Western Europe Oxygen Flow Meters Market By Type
11.3.2.12.2 Rest of Western Europe Oxygen Flow Meters Market By Application
11.4 Asia-Pacific
11.4.1 Trend Analysis
11.4.2 Asia Pacific Oxygen Flow Meters Market by Country
11.4.3 Asia Pacific Oxygen Flow Meters Market By Type
11.4.4 Asia Pacific Oxygen Flow Meters Market By Application
11.4.5 China
11.4.5.1 China Oxygen Flow Meters Market By Type
11.4.5.2 China Oxygen Flow Meters Market By Application
11.4.6 India
11.4.6.1 India Oxygen Flow Meters Market By Type
11.4.6.2 India Oxygen Flow Meters Market By Application
11.4.7 Japan
11.4.7.1 Japan Oxygen Flow Meters Market By Type
11.4.7.2 Japan Oxygen Flow Meters Market By Application
11.4.8 South Korea
11.4.8.1 South Korea Oxygen Flow Meters Market By Type
11.4.8.2 South Korea Oxygen Flow Meters Market By Application
11.4.9 Vietnam
11.4.9.1 Vietnam Oxygen Flow Meters Market By Type
11.4.9.2 Vietnam Oxygen Flow Meters Market By Application
11.4.10 Singapore
11.4.10.1 Singapore Oxygen Flow Meters Market By Type
11.4.10.2 Singapore Oxygen Flow Meters Market By Application
11.4.11 Australia
11.4.11.1 Australia Oxygen Flow Meters Market By Type
11.4.11.2 Australia Oxygen Flow Meters Market By Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Oxygen Flow Meters Market By Type
11.4.12.2 Rest of Asia-Pacific Oxygen Flow Meters Market By Application
11.5 Middle East & Africa
11.5.1 Trend Analysis
11.5.2 Middle East
11.5.2.1 Middle East Oxygen Flow Meters Market by Country
11.5.2.2 Middle East Oxygen Flow Meters Market By Type
11.5.2.3 Middle East Oxygen Flow Meters Market By Application
11.5.2.4 UAE
11.5.2.4.1 UAE Oxygen Flow Meters Market By Type
11.5.2.4.2 UAE Oxygen Flow Meters Market By Application
11.5.2.5 Egypt
11.5.2.5.1 Egypt Oxygen Flow Meters Market By Type
11.5.2.5.2 Egypt Oxygen Flow Meters Market By Application
11.5.2.6 Saudi Arabia
11.5.2.6.1 Saudi Arabia Oxygen Flow Meters Market By Type
11.5.2.6.2 Saudi Arabia Oxygen Flow Meters Market By Application
11.5.2.7 Qatar
11.5.2.7.1 Qatar Oxygen Flow Meters Market By Type
11.5.2.7.2 Qatar Oxygen Flow Meters Market By Application
11.5.2.8 Rest of Middle East
11.5.2.8.1 Rest of Middle East Oxygen Flow Meters Market By Type
11.5.2.8.2 Rest of Middle East Oxygen Flow Meters Market By Application
11.5.3 Africa
11.5.3.1 Africa Oxygen Flow Meters Market by Country
11.5.3.2 Africa Oxygen Flow Meters Market By Type
11.5.3.3 Africa Oxygen Flow Meters Market By Application
11.5.2.4 Nigeria
11.5.2.4.1 Nigeria Oxygen Flow Meters Market By Type
11.5.2.4.2 Nigeria Oxygen Flow Meters Market By Application
11.5.2.5 South Africa
11.5.2.5.1 South Africa Oxygen Flow Meters Market By Type
11.5.2.5.2 South Africa Oxygen Flow Meters Market By Application
11.5.2.6 Rest of Africa
11.5.2.6.1 Rest of Africa Oxygen Flow Meters Market By Type
11.5.2.6.2 Rest of Africa Oxygen Flow Meters Market By Application
11.6 Latin America
11.6.1 Trend Analysis
11.6.2 Latin America Oxygen Flow Meters Market by Country
11.6.3 Latin America Oxygen Flow Meters Market By Type
11.6.4 Latin America Oxygen Flow Meters Market By Application
11.6.5 Brazil
11.6.5.1 Brazil Oxygen Flow Meters Market By Type
11.6.5.2 Brazil Oxygen Flow Meters Market By Application
11.6.6 Argentina
11.6.6.1 Argentina Oxygen Flow Meters Market By Type
11.6.6.2 Argentina Oxygen Flow Meters Market By Application
11.6.7 Colombia
11.6.7.1 Colombia Oxygen Flow Meters Market By Type
11.6.7.2 Colombia Oxygen Flow Meters Market By Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Oxygen Flow Meters Market By Type
11.6.8.2 Rest of Latin America Oxygen Flow Meters Market By Application
12. Company Profiles
12.1 HERSILL
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Burak Metering
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 DZ Medicale
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Ohio Medical
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Precision Medical, Inc.
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Dwyer Instruments LTD.
12.6.1 Company Overview
12.6.2 Financial
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Shanghai Amcaremed Technology Co., Limited
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Penlon
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Megasan Medical
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Deluxe Industrial Gases
12.10.1 Company Overview
12.10.2 Financial
12.10.3 Products/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases And Best Practices
15. Conclusion
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