by Type, Form, Technology, Application and Region Dublin, March 30, 2022 (GLOBE NEWSWIRE) -- The "Global Oxygen Generator Market, By Type, By Form, By Technology, By Application, By Region, Estimation & Forecast, 2017 - 2030" report has been added to ResearchAndMarkets.com's offering. The global oxygen generator market in 2021 was valued at USD 1,469.5 Million and is projected to reach USD 2,545.0 Million by the year 2030. The market is anticipated to register a CAGR of 5.1% over the projected period. In 2021, around 1,321.87 thousand units of oxygen generators were estimated to be sold. Oxygen generators are devices used for separating oxygen from compressed air using special selective adsorptive technology, known as the pressure swing adsorption. The government initiatives to manage respiratory disorders and COVID-19 is expected to boost the market growth. Furthermore, rising use of oxygen generators in various industries is also expected to fuel the market growth. Despite the driving factors, high cost of Medical Oxygen Generator are expected to hinder the market growth during the forecast period. Stringent regulatory procedures are also estimated to restrain the market growth. Growth Influencers: Government initiatives to manage respiratory disorders and COVID-19 During the COVID-19 pandemic, the demand for oxygen generators increased owing to the high requirement of oxygen during the treatment of COVID-19. Also, rising prevalence of respiratory disorders is estimated to increasing adoption of oxygen generators. According to the Centers for Disease Control and Prevention, as of September 2021, in the U.S. around 873,000 visits to the emergency departments were made because of COPD. Moreover, the COVID-19 pandemic worsened globally. Hence, government across various nations globally took initiatives to curb the pandemic. These initiatives included various testing programs, among others. Rising use of oxygen generators in various industries Oxygen generators find applications in commercial as well as industrial applications. Various industrial applications of oxygen generators include glass manufacturing, sewage & wastewater treatment plants, papermaking, food/beverage industries, chemical oxidation processes, metallurgy, gasification processes, commercial fish farming, and, mining, among others. Hence, the rising use of oxygen generators in various industries are anticipated to fuel the market growth.
