In 2021, the valuation of the Global Medical Oxygen market was around $4.5 billion. In fact, this market will grow at 7.02% CAGR and reach $6.7 billion by 2026. On the surface, medical oxygen might come across as an obvious treatment. But it took almost two centuries to resolve its complicated theories.
Oxygen is the most essential component of life and healthcare facilities and hospitals use medical oxygen as a proactive way to treat a respiratory-related disease. In short, when patients start to gasp for air, a concentrated supply of oxygen becomes the savior.
What Exactly Is Medical Oxygen?
The atmospheric air is the combination of 21% oxygen, 0.9% argon, 78% nitrogen, and 0.1% of other gases. Conversely, medical oxygen is a highly concentrated type of oxygen and without contamination. In layman’s terms, if you remove the environment’s nitrogen, you will have concentrated oxygen.
For instance, medical oxygen cylinders have a high concentration of oxygen gas. It is crucial to understand that medical oxygen is not the same as industrial oxygen. Unlike medical oxygen, industrial oxygen is not fit for human use because of its impurities which can make individuals ill.
Uses of Medical Oxygen in the Healthcare Industry
During the COVID-19 pandemic, the world became aware of the high demand for medical oxygen. But the use of medical oxygen is quite common in hospitals, nursing homes, medical facilities, and clinics. Healthcare workers administer medical oxygen as first aid recovery for life support, oxygen therapy, emergencies, and during anesthesia.
COVID-19 Crisis and Medical Oxygen Demand
Professional health workers concur that the shortage of medical oxygen throughout the COVID-19 pandemic has been a continuous struggle for hospitals and healthcare facilities. Throughout the COVID-19 pandemic, the urgent demand for medical oxygen is at an all-time high in the healthcare sector. After all, medical oxygen has been the solution to treat people who suffer from respiratory diseases or distress.
WHO affirms that 1 individual out of 5 with COVID-19 requires medical oxygen to ensure a sufficient level of oxygen supply in the blood. During the third wave of COVID-19, the world witnessed how India struggled to supply sufficient medical oxygen to patients.
In the post-COVID-19 world, there will still be respiratory diseases and high demand for medical grade oxygen. For starters, there will be more demand among the geriatric population and people vulnerable to various respiratory diseases.
Growing Demand for Medical Oxygen Will Continue
It is no secret that many countries like India, Brazil, Venezuela, and Peru have had to confront their lack of medical oxygen supply. But it is easy to understand the skyrocketed demand for medical oxygen when it becomes a rarity due to logistical issues and limited infrastructure.
As COVID-19 positive numbers start to drop, it is crucial to adopt an aggressive approach and save an ample supply of medical oxygen. Whether it’s concentrated oxygen or oxygen in cylinders, the last thing a hospital or medical facility wants is to face the shortage of medical oxygen.
If you need high-quality medical grade oxygen, you can count on nexAir. As an industry expert, the oxygen supplier uses modern technology and extensive knowledge. NexAir aims to deliver medical grade oxygen to meet the high demand in the healthcare sector.