The medical oxygen concentrators market size is expected to reach USD 4.99 billion by 2030. It is anticipated to grow with a healthy CAGR of 12.8% from 2021 to 2030.
In 2022, the medical oxygen concentrators market study provides crucial information on market share, market size, growth rate analysis Y-O-Y, production, consumption, and sales analysis for the forecast period 2021 to 2030. The report contains 150+ pages with detailed analysis.
An oxygen concentrator is equipment used to dispense oxygen for patients with a low oxygen level in their blood. A valid prescription is required for the purchase of oxygen concentrators. Oxygen concentrator works by concentrating oxygen from a gas supply (largely ambient air) by selectively eliminating nitrogen to deliver an oxygen-fortified product gas flow. The equipment absorbs air and eradicates nitrogen from it, leaving a gas enriched with oxygen for use by individuals needing medical oxygen owing to low levels of oxygen in their blood. Oxygen concentrators are used by plugging into an electric outlet or by using a battery. A concentrator, powered by an electric battery is needed to be charged by plugging into the outlet. Increasing geriatric population base all over the world that requires homecare oxygen therapy will augment demand for the equipment in the coming years. Furthermore, individuals suffering from respiratory ailments such as COPD (chronic obstructive pulmonary disease), chronic bronchitis, and emphysema will further boost the demand for medical oxygen concentrators over the forecast period. There have been some important advances in the continuing oxygen therapy care domain over the past few years. Oxygen concentrator is one of the most significant advancements within that field.
Factors such as increasing prevalence of respiratory ailments, growing geriatric population, high investment in research and development, increasing focus on home healthcare, increasing per capita healthcare expenditure, growing incidence of novel viral diseases, technological advancements, and improving reimbursement scenario in developing regions are driving the growth of medical oxygen concentrators market. Increasing prevalence of tobacco smoking, growing cases of lung disorders, and awareness campaign undertaken by governments to spread awareness regarding respiratory ailments are further propelling the medical oxygen concentrators market expansion across the globe.
Patients affected by various kinds of respiratory illnesses, such as lung malignancy, intense pneumonia, bronchitis, and emphysema require the facilities of oxygen concentrators. High demand from these users is expected to augment the requirement for oxygen concentrators in the near future. Medical oxygen concentrators find usage both at home as well as clinical settings to cater to the requirement of oxygen. These concentrators are fitted with some cylinders and valves, a weight regulating supply, two compartments occupied with an air blower, and zeolite pellets.
|Market Size||USD 4.99 Billion by 2030|
|Growth Rate||CAGR of 12.8% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Technology, Product, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The medical oxygen concentrators report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America dominated the global market with a market share of more than 35%. U.S. signified the highest portion in the North American region largely due to large investment in medical devices research and development and presence of skilled physicians. Furthermore, early implementation of latest technologies also contributed to the high market share of the United States.
Europe was the next important market mainly due to a high geriatric population and high investment in research and development. The increasing requirement for home healthcare in the European region is also expected to boost the demand for medical oxygen concentrators in the projected time-span. Asia Pacific is estimated to advance at the maximum CAGR of around 6.1% in the forecast period due to high incidence of respiratory ailments. Middle East, Africa and Latin American region will exhibit noticeable progress.
The medical oxygen concentrators market is consolidated with a major number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report. Primary research represents a bulk of research efforts, supplemented by extensive secondary research.
Some of the prominent players in the medical oxygen concentrators market include:
- DeVilbiss Healthcare
- Nidek Medical
- O2 Concepts
- Inova Labs
- Philips Respironics
- Pulse Dose
- Continuous Flow
- Non-home Care
- Home Care
- North America (U.S. and Canada)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
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TABLE OF CONTENT
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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