Market Report of Oxygen Generator: In the future, the global oxygen generator industry will still show a stable growth trend.
An oxygen generator is a type of machine for generating oxygen, and its principle is to utilize air separation technology. Firstly, the air is compressed at a high density and then the different condensation points of various components in the air are utilized to perform gas-liquid separation at a certain temperature, and then rectification is carried out to separate it into oxygen and nitrogen. Under normal circumstances, since it is mostly used for producing oxygen, people are accustomed to calling it an oxygen generator.
Uneven products will accelerate market consolidation: The market concentration of medical oxygen generators is relatively high, but there are still a large number of manufacturing enterprises and trading enterprises. The enterprises and brands are mixed, and the market prices, qualities, and customer groups are quite chaotic. In the future, as market competition intensifies and the market matures, it is expected that large enterprises and well-known brands will occupy an increasing share of the market.
Market demand may be lower than expected: The medical oxygen generator has shown a rapid development speed in the past five years. This product has been very mature in major developed countries abroad, and the market has grown slowly. In China, the medical oxygen generator has shown an extremely rapid growth rate, but under the influence of the epidemic, the income of residents has decreased, and the future market demand may not be as good as expected by many companies or institutions. In the report, we adopted a relatively conservative predicted growth rate.
The potential decoupling risk will limit the overseas development of enterprises: The two major parties in the United States basically have the same attitude towards China, and their intention to contain China's development is obvious. During the epidemic period, the United States and the Western world imported a large amount of anti-epidemic materials, but as the local industrial chain in the United States recovers, it is expected that enterprises going overseas will face pressure. In general, China has been defined as a national security threat, not just a competitor, but an adversary. The dividend brought by the epidemic has ended, and it is difficult for the oxygen generator market to obtain the main opportunity for a market explosion.
Overcapacity will be the normal state in the future: Before the epidemic, there was overcapacity in the domestic oxygen generator market and it was in a state of price war. After the epidemic, the oxygen generator capacity will be even more excessive. A large amount of capacity is invested in the oxygen generator market, and in the future, after the epidemic ends, special attention also needs to be paid to the market risk brought by overcapacity.
The epidemic has promoted a two-year golden cycle, but it is not sustainable: At the beginning of the outbreak of the epidemic in 2020, the global supply chain including the procurement of key medical materials faced pressure, and medical equipment such as oxygen generators, ventilators, blood oxygen meters, and thermometers were once in short supply. In 2021, an unprecedented COVID-19 epidemic broke out in places such as India, Mexico, and Brazil, and the health system was on the verge of collapse, and the demand for oxygen generators showed a historical explosion. In this situation, the sales volume of the global oxygen generator showed a significant growth trend, and the performance of some foreign trade-oriented enterprises such as Baoding Maizhuo Medical, Shenyang Sea Turtle Medical, Xinsong Medical, and Shenyang Aier
The market demand remains relatively stable: The sales of the oxygen generator industry in both global and Chinese markets experienced a significant decline in 2022, mainly due to the normal cyclic return of the industry. In the future, with the improvement of people's awareness of protection and the increase in product penetration rate, the market will still show a fairly stable growth rate, but the speed cannot be compared with that before.
According to the latest research by QYR, in 2022, the sales revenue of the oxygen generator market in China reached 4.91 billion yuan, and it is expected to reach 7.06 billion yuan in 2029, with a compound annual growth rate (CAGR) of 6.31% during 2023-2029. With the global spread of COVID-19, the global medical oxygen generator showed a significant growth trend in 2020 and 2021, and the market in 2022 has returned to the level before the epidemic. However, after experiencing an epidemic, people pay more attention to their own health, and oxygen therapy and oxygen health care, as a new technology to enhance physical fitness and prevent diseases, are gradually being accepted and promoted. The emerging industry of household oxygen generators has also quietly emerged and shown a strong growth trend. At present, household oxygen generators have been widely used in cardiovascular diseases, cerebrovascular diseases, respiratory diseases, altitude reaction and altitude sickness, and geriatric diseases. With the expansion of the Chinese middle class and the investment in basic medical facilities, the global oxygen generator industry will still show a stable growth trend in the future.
Before 2019, there was an oversupply of oxygen generator capacity in China, and the overseas market was small, and the market competition was relatively fierce. Since 2020, due to the aggravation of the global epidemic, the overseas orders of Chinese oxygen generators have increased, and the output has also risen. In 2021, China exported more than 1.4 million oxygen generators, and in 2022, due to the decline in market demand, the export of Chinese oxygen generators returned to the level in 2019. Due to the impact of the epidemic, the domestic demand for oxygen generators has also increased rapidly, and the penetration rate of the product has been greatly improved at present, but compared with the hundreds of millions of aging population in China in the future, the penetration rate of oxygen generators is still relatively low. In the oxygen generator industry chain, compressors and molecular sieves as materials for some parts of medical oxygen generators, and the development of their industries affects the upstream cost of medical oxygen generators; oxygen generators are suitable for oxygen therapy and oxygen health care of patients with cardiovascular and respiratory diseases, and the recovery of mental and physical strength and physiological health care of mental workers, students, athletes, etc., so its downstream demand comes from many places such as families, hospitals, nursing homes, schools, hotels, sports venues, bars, oxygen bars, and high-altitude military stations.
Inogen, Airsep, Yuyue, Invacare, Teijin Pharma and Philips are regarded as prestigious international giants. At present, the foreign oxygen generator industry has shown a trend of "oligopoly" monopoly, while there are about 100 domestic manufacturers that have really obtained medical device licenses and whose products have been approved for registration by the National Medical Products Administration. At present, the main enterprises that produce medical oxygen generators in China mainly include domestic oxygen generator manufacturers such as Yuyue Medical, HaiGui, and JuMao, and the production areas are mainly concentrated in Beijing, Shanghai, Jiangsu, Zhejiang, and Shenyang. The international giants in China include Omron, Airsep and Daikin and other companies. Yuyue Medical is regarded as the leader in this industry. Currently, Yuyue and Haier occupy most of the domestic market share. Different manufacturers have carried out the design, development and production of products of different specifications and models according to market demand. According to the oxygen production capacity, they are divided into oxygen generators of 1L/min, 2L/min, 4L/min, and 5L/min. The output pressure range is generally 0.04-0.06 MPa (relative pressure), and the oxygen production concentration is all greater than 90%. 1L/2L is the most common type. However, currently the demand for 3L and 5L products is becoming increasingly hot. The core manufacturers in the Chinese market include Yuyue Medical, Airsep, Philips, Haier Group, Baoding Maizhuo Medical and Shenyang HaiGui Medical, etc. In terms of revenue, the top three manufacturers in the Chinese market in 2022 accounted for approximately 49.51% of the market share.
From the perspective of product types, 5L occupies an important position, and it is expected that the share will reach 40.75% in 2029. At the same time, in terms of application, the share of hospitals in 2022 is about 68.24%, and the compound annual growth rate (CAGR) in the next few years (2024-2029) is about 4.85%.
Despite the problem of new entrants, investors still hold an optimistic attitude towards this field. In the future, QYR predicts that due to its potential market size, more and more companies will join this industry. Therefore, the research team holds an optimistic attitude towards this industry. However, the research team believes that without the support of downstream buyers, the ability to deeply process products, and a relatively strong marketing channel and method, the research team does not recommend that enterprises enter this industry. In addition, today's industrial market competition is increasingly fierce, and enterprises need to be able to reduce costs and increase output to adapt to the rapidly developing market. For truly thriving enterprises, the ability to lead the development and bring products to the market faster is also crucial.
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Shenyang HOlian Precision instrument co.,Ltd founded in 2017,is specialized production of oxygen generator accessories :Miniature solenoid valve for Portable Medical oxygen generator,4 Way 2 position Medical oxygen generator,3L to 10L Medical Oxygen Generator Solenoid Valve,pressure regulator assembly for oxygen concentrator,Pressure reducing Assembly for oxygen concentrator,Pinhole flowmeter of oxygen concentraror,Pinhole flowmeter of Medical oxygen concentrator,5L flowmeter for oxygen concentrator,Special firesafe Valve for oxygen concentrator,Firesafe Cannula Valve Oxygen Supply Tubing Connector,Oxygen primary filter,Medical Grade Filter,Check valve (material PA6),Check valve (material ABS),Oxygen generator accessories Molecular sieve tank head,Oxygen Concentrator Accessories Air Filters,Oxygen Concentrator Accessories NPT1/8-∅8 Connector,Oxygen Concentrator Accessories NPT1/8-∅10 Connector,Oxygen Concentrator Accessories 3 way Nozzle,Oxygen Concentrator Accessories 90° Nozzle,Mold manufacturing and i jection molding.