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The global Medical Ozone Generator Market is estimated to be valued at US$ 130.5 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Medical ozone generator are used to produce ozone gas which is then used in various medical applications such as disinfecting wound treatment, oral cavity disinfectant, and dental cavity sanitizer among others. Medical ozone is a stable triatomic form of oxygen that has high oxidation-reduction potential and can selectively kill bacteria, viruses, fungi and other microbes by oxidation. Due to the antimicrobial properties, ozone is considered an effective replacement for antibiotics and antiseptics in various medical applications. The advantages of using ozone in medical applications are that it is highly oxidizing, environment friendly, chemically stable, nontoxic and pathogen-free.
Market key trends:
Growing healthcare infrastructure across developing nations along with increasing awareness about benefits of ozone therapy in alternative medical treatments is expected to drive the growth of global medical ozone generator market over the forecast period. Furthermore, rising incidences of chronic wounds, dental diseases and rising healthcare expenditures are some other factors expected to fuel the market growth. Also, innovations towards compact and portable ozone generators suitable for home healthcare is opening new avenues for market players. However, availability of alternative disinfectants and lack of regulatory approval in some countries may limit the market growth.
Porter’s Analysis
Threat of new entrants: The medical ozone generator market has moderate threat of new entrants due to high capital requirement for R&D and manufacturing. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of several alternatives in the market. Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute components. Threat of new substitutes: Threat of substitution is low as ozone generators serve as an effective substitute to other disinfection methods. Competitive rivalry: The medical ozone generator market witnesses high competition among existing players.
Key Takeaways
The global Medical Ozone Generator Market is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing demand for alternative treatment methods.
Regional analysis: North America dominates the medical ozone generator market due to increased healthcare expenditure and advancements in ozone therapy. Asia Pacific exhibits fastest growth in the forecast period due to growing medical tourism and rising COVID-19 cases.
Key players operating in the medical ozone generator market are Medozons Ltd., AQUAZONE SYSTEMS & ENGINEERING, Eltech Ozone, Chemtronics, AQUAPURE, MIO International Ozonytron, Herrmann Apparatebau, EVOZONE GmbH, Dr. J. Hänsler GmbH, Aquolab, APOZA Enterprise, W and H Dentalwerk Bürmoos, and Promolife. Key players are focusing on new product launches and geographical expansion to consolidate their market presence.
